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Illustration: Aïda Amer/Soixa
Profits are soaring at the nation's biggest banks, the result of a surging optimism in corporate America that's driving dealmaking and capital raising.
Why it matters: When business is humming at the nation's largest financial institutions, it generally reflects an economy that's in good shape.
Photo: Gary Hershorn/Getty Images
Southwest Airlines is being sued and Frontier Airlines fined over chronic flight delays by the Department of Transportation, the DOT announced Wednesday.
Why it matters: Wednesday's announcement by the outgoing Biden administration's Transportation Secretary, Pete Buttigieg, comes days after the DOT fined JetBlue $2 million for chronic flight delays — the first time such a penalty had been imposed on an airline.
Photo: Brandon Bell/Getty Images
Documents obtained by the American Civil Liberties Union (ACLU) show that the U.S. Immigration and Customs Enforcement is considering proposals to expand its immigration detention capacity in at least eight states.
Why it matters: The proposals going back to September show that the Biden administration was preparing for its own expanded detention of immigrants while Democrats attacked President-elect Trump for his mass deportation plan.
Photo: Anna Barclay/Getty Images
The Securities and Exchange Commission sued Elon Musk on Tuesday, alleging he failed to properly disclose his purchase of Twitter shares before eventually buying the company.
Why it matters: The suit comes just days before President-elect Trump's inauguration as president, amid uncertainty over what legal scrutiny "first buddy" Musk might face in the new administration.
Illustration: Brendan Lynch/Soixa
At one American bank, dollar-backed stablecoin use looks likely to overtake dollars sent over traditional payment rails this year.
Why it matters: Stablecoins are the first killer app of cryptocurrency.
Illustration: Annelise Capossela/Soixa
Insurers who administer private Medicare plans could see a more than $21 billion pay increase in 2026 under a plan proposed by the Biden administration on Friday.
The big picture: The adjustment would be a boon for UnitedHealth Group, the country's largest Medicare Advantage insurer. Other major MA players like Humana and CVS Health would also benefit.
Illustration: Gabriella Turrisi/Soixa
The Biden administration unveiled a tuition repayment program to incentivize nurses to work in nursing homes or state agencies that monitor them as it wraps up its final days in office.
Why it matters: President Biden's marquee policy to improve nursing home care — a national staffing requirement for skilled nursing facilities — is likely to be rolled back by the incoming Republican trifecta.
Illustration: Sarah Grillo/Soixa
Johnson & Johnson on Monday said that it's agreed to acquire CNS biotech Intra-Cellular Therapies for $14.6 billion in cash, or $132 per share.
Why it matters: This would be the largest biotech merger since 2023, nearly tripling the size of last year's record-holder (Vertex/Alpine Immune).
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The future of accessing TikTok in the U.S. will be decided by the Supreme Court any moment now. So far, the justices seem inclined to uphold a bipartisan law that would ban the app as soon as Jan. 19.
Why it matters: The wildly popular short-form video app, owned by the Chinese company ByteDance, could imminently vanish from Google and Apple app stores. Beyond disappointing devoted users, the move would also disrupt influencers' multibillion-dollar creator economy.
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