Key global financial headlines from overnight include:
1. **Trump Begins Interviews for Next Fed Chair** Former U.S. President Donald Trump stated he has started discussions with potential candidates to replace Jerome Powell as Federal Reserve Chair. He hinted at both conventional and unexpected names on the shortlist during a meeting with Saudi Crown Prince Mohammed bin Salman.
2. **Trump Threatens ABC License Over Epstein Files Questioning** Trump called on the FCC to revoke ABC’s broadcasting license after a reporter questioned him about the handling of Jeffrey Epstein-related documents. He criticized the network for "fake and outrageous" reporting, escalating tensions over his alleged ties to Epstein.
3. **Microsoft & NVIDIA Plan $15B Investment in AI Startup Anthropic** Microsoft and NVIDIA are set to invest up to $15 billion in Anthropic, deepening ties between the AI developer and OpenAI’s top backers. The deal includes a $30 billion cloud computing commitment to Microsoft’s Azure, raising concerns about cyclical AI investment trends.
4. **Google Unveils Gemini 3 in Escalating AI Race with OpenAI** Alphabet’s Google launched its latest AI model, Gemini 3, to compete with OpenAI’s ChatGPT. CEO Sundar Pichai highlighted its ability to handle complex queries with minimal prompts. The model will integrate into Google’s AI search tools and enterprise products, rolling out to subscribers gradually.
5. **Paramount Denies $71B Warner Bros. Discovery Bid Reports** Paramount Global dismissed claims of a $71 billion takeover bid for Warner Bros. Discovery involving Middle Eastern sovereign funds. A spokesperson called the reports "completely inaccurate," citing confidentiality around any potential deals.
6. **AI Boom Drives Record Wall Street Trader Profits** U.S. stock traders are on track for their most profitable year in two decades, fueled by surging client interest in AI stocks. Industry fees are projected to hit $94 billion in 2025, up 18% from 2024, as the S&P 500 rebounds 35% from April lows.
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