Supreme Court seems inclined to keep Lisa Cook on Fed board despite Trump attempt to fire her

WASHINGTON (AP) — The Supreme Court seems inclined to keep Federal Reserve governor Lisa Cook in her job, casting doubt on President Donald Trump’s bid to wrest control of the nation’s central bank. The justices heard arguments Wednesday over Trump’s effort to fire Cook based on allegations she committed mortgage fraud, which she denies. No president has fired a sitting governor in the 112-year history of the Fed, which was structured to be independent of day-to-day politics. The true motivation for trying to fire Cook, Trump’s critics say, is the Republican president’s desire to exert control over U.S. interest rate policy. Conservative and liberal justices voiced skepticism over Cook's firing.

Surrounded by billionaires in Davos, Trump plans to lay out how he'll make housing more affordable

WASHINGTON (AP) — On the anniversary of his inauguration, President Donald Trump is heading to the World Economic Forum in Davos, an annual gathering of the global elite. He plans to use a key address there Wednesday to lay out his plans to make housing more affordable. The Swiss mountain town, where ski chalets go for $4.4 million, is a strange backdrop for the speech. But Trump — who has spent a lot of time surrounded by billionaires during his first year back in the White House — is counting on wealthy business leaders to create economic growth. However, headlines about Trump’s push to acquire Greenland threaten to overshadow his proposals.

The Latest: Trump says he won’t use force to acquire Greenland in Davos address

DAVOS, Switzerland (AP) — U.S. President Donald Trump appeared at the World Economic Forum in Davos, Switzerland, a day after the elite event produced contentious statements and economic threats arising from tensions between the U.S. and Europe. U.S. allies remain worried about his ambition to take over Greenland, among other international crises. The elite event attracts corporate executives, academics, philanthropists and media to the Swiss Alps town of Davos. The Geneva-based think tank first hosted the event in 1971 with the goal to improve European management. Around 850 CEOs and chairs of the world’s top companies are expected to be among 3,000 participants from 130 countries. The dialogue, debate and deal-making is scheduled to last through Friday.

Wall Street steadies after Trump says he won't use force to take Greenland

NEW YORK (AP) — The U.S. stock market is steadying following its worst day since October, though some signs of fear remain on Wall Street about President Donald Trump’s desire to take Greenland. The S&P 500 rose 0.6% Wednesday after Trump said he would not use force to take Greenland. The Dow Jones Industrial Average added 336 points, and the Nasdaq composite gained 0.5%. Treasury yields eased after getting some help from a calming of government bond yields in Japan, while the U.S. dollar's value steadied. But some nerves seemed to remain in the market, and the price of gold rose again.

Warren Buffett's successor eyes selling off Berkshire Hathaway's 325 million Kraft Heinz shares

OMAHA, Neb. (AP) — Warren Buffett’s successor appears to be considering his first significant move after taking over as CEO this month. Kraft Heinz warned investors Tuesday that Berkshire Hathaway may be interested in selling its 325 million shares in the name brand food giant that Buffett helped create back in 2015. Buffett and the Brazilian investment firm 3G Capital orchestrated the merger of Kraft and Heinz back then because they already owned Heinz and believed in the power of their brands. Now Greg Abel may be plotting a different course. CFRA Research analyst Cathy Seifert wonders if this could be just the beginning of a comprehensive review of Berkshire’s holdings that could lead to additional sales.

This just in from The New York Times: Its first 2-player game, and an evolving business model

There's a lot more to The New York Times than its news stories, and that's by design. The success of ancillary products on its website — Games, the Wirecutter product recommendations, mounds of recipes in cooking and podcasts — have fueled the news company's success over the past decade. Digital subscriptions keep rising from people who can't kick their Wordle habits. It has led The Times to more than double its staff of journalists over the past decade, particularly remarkable at a time of rapid contraction in the news industry. Wednesday's a big day at The Times' Games site, as it introduces its first competition designed for two players.

Iconic Coney Island hot dog maker Nathan's Famous is sold for $450 million

Nathan’s Famous, which began as 5-cent hot dog stand in Coney Island more than a century ago, has been sold to packaged meat giant Smithfield Foods in a $450 million all-cash deal, the companies announced Wednesday. Smithfield, which has held rights to produce and sell Nathan’s products in the U.S., Canada and at Sam’s Clubs in Mexico since 2014, will acquire all of Nathan’s outstanding shares for $102 each. The transaction is expected to close in the first half of 2026. Smithfield jumped nearly 9% higher in midday trading, to $100.81 a share.

FTC says it will appeal Meta antitrust decision

The Federal Trade Commission said Tuesday it will appeal the November ruling in favor of Meta in its antitrust case against the social media giant. The FTC said it continues to allege that, for more than a decade, Meta has illegally maintained a monopoly in social networking through anticompetitive conduct. The FTC says Meta bought the significant competitive threats it identified in Instagram and WhatsApp. Meta prevailed over the existential challenge to its business that could have forced the tech giant to spin off Instagram and WhatsApp after a judge ruled that the company does not hold a monopoly in social networking.

Netflix intensifies bid for Warner Bros making its $72 billion offer all cash

Netflix is now offering to buy Warner Bros. Discovery’s studio and streaming business in an all-cash deal. This move aims to win over Warner's shareholders for a $72 billion merger and counter a bid from Paramount. On Tuesday, Netflix and Warner announced a revised transaction to simplify the structure and speed up a shareholder vote. The all-cash offer is valued at $27.75 per Warner share. Warner's leadership supports the merger with Netflix. Meanwhile, Paramount has made a $77.9 billion offer and plans a proxy fight. The sale could face antitrust scrutiny and political influence.

Ryanair CEO dismisses Elon Musk's idea of buying the airline as verbal feud escalates

LONDON (AP) — Ryanair's CEO dismisses Elon Musk's idea of buying the airline and shrugs off his insults. The spat began when Ryanair ruled out installing Musk's Starlink Wi-Fi on its planes. O'Leary called Musk an "idiot," while Musk labeled O'Leary "misinformed." Musk even joked about buying Ryanair on social media. O'Leary noted that non-European citizens can't own a majority stake in European airlines. He added that if Musk wants to invest, it would be a better choice than his investment in X. Ryanair used the spat for a promotional seat sale featuring a caricature of Musk.