Key headlines from global financial media overnight and this morning include:
1. Trump Sues JPMorgan and Dimon, Seeking $5 Billion in Damages 2. European Parliament to Resume Vote on US-EU Trade Deal After Trump Withdraws Tariff Threat 3. Trump's Tumultuous Actions Prompt Anxious European Ultra-Wealthy to Consider Reducing US Investments 4. Musk at Davos: Plans to Sell Optimus Robots to the Public Next Year 5. Apple Expands Hardware Chief Ternus's Responsibilities, Signaling CEO Succession 6. OpenAI Appoints Former Thinking Machines Lab Member Zoph to Lead Enterprise Business Expansion
Trump Sues JPMorgan and Dimon, Seeking $5 Billion in Damages Former US President Donald Trump has sued JPMorgan Chase & Co. and its CEO Jamie Dimon, seeking at least $5 billion in damages. The lawsuit alleges the defendants ceased providing banking services to him for political reasons. The complaint, filed in a state court in Miami-Dade County, accuses JPMorgan of commercial defamation and breaching the implied covenant of good faith and fair dealing. The plaintiff also claims Dimon violated Florida's Deceptive and Unfair Trade Practices Act. Trump stated last August that several banks had previously discriminated against him. In an interview at the time, he claimed JPMorgan demanded he close accounts held for decades within 20 days. JPMorgan has denied refusing business based on ideological stances.
European Parliament to Resume Vote on US-EU Trade Deal After Trump Withdraws Tariff Threat Following former President Donald Trump's withdrawal of his recent tariff threats concerning Greenland, the European Parliament is expected to restart the voting process on the US-EU trade agreement. European Parliament President Roberta Metsola told reporters in Brussels on Thursday that Trump's shift in position was sufficient to support holding a vote on the deal, with a preliminary vote potentially occurring within days. Parliamentary approval is the final step required for the EU to bring the trade agreement into effect. Lawmakers decided on Wednesday to indefinitely suspend the ratification process, citing Trump's "coercive" threats. Hours later, Trump de-escalated the situation, stating he would not implement the tariffs originally scheduled to take effect on February 1.
Trump's Tumultuous Actions Prompt Anxious European Ultra-Wealthy to Consider Reducing US Investments For a long time, Europe's ultra-wealthy have reaped substantial profits from US investments, with portfolios spanning everything from cosmetics to space travel. However, these oversized bets are now causing significant unease for many. According to private bankers and advisors, following former President Donald Trump's demand to annex Greenland and his stoking of geopolitical turmoil in Venezuela and Iran, some wealthy European elites are reassessing their US exposure. Sources, who spoke on condition of anonymity, indicated that to enhance geographical diversification or reduce dollar exposure, they are considering moving some capital away from US assets. Although any shift would be gradual, this consideration signals that US policy instability is beginning to impact investor sentiment. Trump delivered a speech at the World Economic Forum in Davos on Wednesday, increasing pressure regarding Greenland. However, later that day, he announced a "framework" agreement had been reached concerning the future of the autonomous territory, though details remain undisclosed.
Musk at Davos: Plans to Sell Optimus Robots to the Public Next Year Tesla CEO Elon Musk indicated that Optimus robots could be sold to the public by the end of next year. Musk has previously stated that the car manufacturer's future will increasingly rely on humanoid robots. Speaking at the World Economic Forum in Davos, Switzerland, on Thursday, Musk said the company already uses some robots in its factories to perform simple tasks. He anticipates that by the end of 2026, Optimus will be capable of "performing more complex tasks." Musk clarified that Tesla will only begin public sales when the company is "confident it has very high reliability, very high safety, and a very broad range of functionality."
Apple Expands Hardware Chief Ternus's Responsibilities, Signaling CEO Succession Apple Inc. has integrated design work into the responsibilities of hardware chief John Ternus, solidifying his position as a leading candidate to eventually succeed CEO Tim Cook. Sources familiar with the matter stated that Cook, who has led Apple since 2011 and turned 65 last November, quietly appointed Ternus to manage the company's design team at the end of last year. This move expands Ternus's purview, placing him in charge of one of the company's most critical functions. These responsibilities hold particular significance at Apple. The role, which encompasses oversight of both hardware and software design management, has long been held by senior leaders.
OpenAI Appoints Former Thinking Machines Lab Member Zoph to Lead Enterprise Business Expansion OpenAI's Chief Operating Officer, Brad Lightcap, informed employees on Wednesday that, as part of a broad organizational restructuring, Barrett Zoph, a co-founder of Thinking Machines Lab, will lead the company's efforts to sell AI products to enterprises. Zoph returned to OpenAI last week amid controversy. According to a memo, OpenAI's Chief Operating Officer Brad Lightcap will no longer oversee enterprise product and engineering operations but will continue to be responsible for the company's overall commercial functions.
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