Core Points - TikTok has signed a deal to sell its U.S. operations to an American-led investor group, ending a prolonged political and legal battle regarding national security concerns [1][5] - The transaction is set to close on January 22, 2026, with Oracle, Silver Lake, and Abu Dhabi-based MGX collectively owning 45% of TikTok's U.S. operations [2] - ByteDance, TikTok's parent company, will retain less than 20% ownership, while existing shareholders and global firms will account for the remainder, with ByteDance investors holding a 35% stake [8] Regulatory Context - The deal follows the enactment of the Protecting Americans from Foreign Adversary Controlled Applications Act (PAFACA), which mandates that apps like TikTok must be divested from foreign adversarial control to operate in the U.S. [11][12] - The law took effect on January 19, 2025, after surviving a Supreme Court challenge, allowing a 90-day extension for compliance [12] Historical Background - Initially, ByteDance resisted selling TikTok, and President Trump issued multiple extensions delaying the enforcement of the law [13][14] - Trump's administration played a significant role in facilitating the deal, emphasizing the need for cooperation with China for a successful transaction [8]

TikTok moved to end a years-long political and legal battle on Thursday as Chief Executive Officer (CEO) Shou Chew told staff the company signed a deal to sell its U.S. unit to an American-led investor group, with the transaction set to close in January, according to reports. Axios reported that the deal ends the years-long saga of forcing TikTok’s parent company, China-based ByteDance, to sell its operation in the U.S. to investors in the U.S., ultimately settling concerns about national security.The publi ...

Group 1: Elon Musk's Wealth and Tesla Stock Performance - Elon Musk's net worth has reached approximately $681 billion, more than double that of the next closest billionaire, Larry Page, who has a net worth of $249 billion [1] - Tesla stock recently hit a new record closing high, marking its first since December 17, 2024, following Musk's announcement about testing robotaxis without safety monitors [5] - Tesla shares experienced a boost after the California Department of Motor Vehicles (DMV) decided to pause a 30-day sales suspension related to misleading marketing of its self-driving technology [6][7] Group 2: Regulatory Developments and Tesla's Self-Driving Technology - The California DMV has delayed the suspension of Tesla's sales for 90 days to allow the company to address regulatory concerns regarding its marketing terminology [7] - The DMV's focus is currently on the term "Autopilot," while Tesla has taken steps to clarify the term "Full-Self Driving" [10] - Tesla is now using the term "Supervised" to describe its Full-Self Driving feature in passenger vehicles, while also employing an unsupervised version for moving cars from assembly lines [11]

Mortgage Rates - The average rate on the benchmark 30-year fixed mortgage decreased to 6.21% from 6.22% last week, down from 6.72% a year ago [1][3] - The average rate on a 15-year fixed mortgage fell to 5.47% from 5.54% last week [3] Market Trends - Mortgage rates have remained within a narrow 10-basis point range over the last two months, with a decrease of half a percent compared to last year [3] - Purchase applications are 10% above the same time last year, indicating increased buyer activity [3] Economic Context - The Federal Reserve recently lowered the benchmark interest rate by 25 basis points to a range of 3.5% to 3.75%, which indirectly influences mortgage rates [4] - The 10-year Treasury yield was around 4.12% as of Thursday afternoon, which closely tracks mortgage rates [4] Buyer Conditions - Homebuyers are in a more favorable position now than a year ago, with mortgage rates easing into the low-6% range and inventory levels well above last year's [6] - Renters have also seen improved affordability, with rents falling for the 28th consecutive month in November [6]

Core Insights - Inflation remains elevated in November, significantly above the Federal Reserve's target rate, as policymakers consider potential interest rate cuts next year [1] - The consumer price index (CPI) rose by 0.2% in November compared to September and increased by 2.7% year-over-year [1] - Core prices, excluding volatile items like gasoline and food, increased by 0.3% from the previous month and 2.6% from a year ago, with the monthly figure meeting expectations but the annual figure being lower than anticipated [2] Data Collection Impact - The release of the November CPI inflation report was delayed due to a 43-day government shutdown, which affected data collection and postponed the release date from December 10 [3]

Billionaire Elon Musk on Wednesday said that while the Trump accounts that are set to launch next year are a nice gesture, he doesn't think saving money will be necessary with "universal high income" set to prevail in the future. Musk replied to a post by investor Ray Dalio, who announced he was following Michael and Susan Dell in donating funds to help seed so-called Trump accounts, which are new savings and investment accounts created by the One Big Beautiful Bill Act for newborns and young Americans."It ...

Economic Achievements - The administration has achieved significant milestones in its first year, including closing the border and stopping illegal immigration, as well as passing a major tax reform bill that includes pro-growth supply-side tax cuts and deregulation [1][2] - Over 200 executive orders have been signed, with notable actions including the repeal of the Green New Deal and deregulation efforts that have bolstered economic sectors [2] Economic Outlook - There is an optimistic economic outlook predicted for the coming year, driven by tax cuts and 100% cost expensing, which are expected to lead to factory construction, increased hiring, and higher wages [5] - The administration's energy policies, particularly "drill, baby, drill," have led to a significant drop in oil and gasoline prices, which is anticipated to lower inflation rates and interest rates, potentially resulting in a GDP growth of 5% with minimal inflation [6] Housing Market - Home prices and shelter costs are moderating, and mortgage rates are decreasing, indicating a positive trend in the housing market [7] Global Investment - The vision for American capitalism is to attract trillions of dollars in global investment, positioning the U.S. as a leading economic hub [7]

Core Points - Hyundai and Kia are overhauling security features in millions of vehicles due to a multistate settlement regarding the lack of industry-standard anti-theft technology [1][3] - The automakers will provide free ignition cylinder protectors, add engine immobilizers to future U.S. vehicles, and pay up to $9 million in restitution [2][12] - Nearly 4 million Hyundai and 3.1 million Kia vehicles in the U.S. are eligible for upgrades, with installation costs potentially exceeding $500 million [2][5] Security Features Overhaul - The settlement requires Hyundai and Kia to provide zinc-reinforced ignition cylinder protectors to current eligible owners [2] - Engine immobilizers, which prevent vehicles from starting without a smart key, will be added to all future U.S. models [2][5] - In 2015, only 26% of U.S. Kia and Hyundai vehicles had immobilizers, compared to 96% for other manufacturers, contributing to a rise in auto thefts [5] Impact of Theft - The absence of immobilizers allowed thieves to easily start vehicles without keys, leading to a significant increase in auto thefts [5][6] - The rise in thefts has resulted in many stolen vehicles being used in crimes and traffic collisions [6] Settlement Details - The multistate settlement involved over 30 states, led by Connecticut, Minnesota, and New Hampshire, with several other states as co-leads [12] - Eligible consumers will receive notices starting in early 2026 and have until March 2027 to install the ignition cylinder protector at a dealership [9]

Group 1 - The exchange-traded fund (ETF) industry is experiencing a record year, with assets surpassing $1 trillion, driven significantly by active managers [1] - Active ETFs represent 80% of year-to-date launches, with assets under management increasing by 38%, compared to a 6% growth for passive ETFs [2] - New ETF launches are evenly distributed between fixed income and equities [2] Group 2 - Average assets under management for funds aged two to three years are approximately $120 million, while newer funds average around $40 million [4] - Active management is seen as valuable in navigating market volatility, with a focus on stock dispersion leading to both significant winners and losers [10]

Group 1 - Billionaire investor Ray Dalio supports President Trump's initiative to create investment accounts for children, announcing a donation of approximately $75 million to fund $250 contributions for 300,000 children in Connecticut [1][6] - The initiative aims to provide children with savings accounts that compound over time, promoting financial literacy and independence [2] - The program allows parents of children born between 2025 and 2028 to receive $1,000 from the U.S. Treasury, which will be invested in index funds, with potential contributions from parents and relatives up to $5,000 annually [8][10] Group 2 - The financial head start for newborns could grow to as much as $1.9 million by the age of 28 if fully funded and left untouched, according to the Treasury Office of Tax Analysis [10] - The initiative targets children in Connecticut living in areas with a median income of less than $150,000, encouraging donations from business leaders and private organizations [7] - Dalio's donation follows a significant contribution from Michael and Susan Dell, who donated $6.25 billion to support 25 million Trump investment accounts [11]