U.S. stocks advanced after the December employment report signaled a cooler—but still resilient—labor market, easing hard-landing fears while tempering near-term Fed cut hopes. Traders also noted the absence of a Supreme Court ruling on tariffs, removing a potential headline risk for the session. Goldman Sachs’ Jan Hatzius called the report “not strong,” underscoring a low-hiring backdrop that keeps policy makers cautious.
Source: Seeking Alpha
Glencore and Rio Tinto restart talks to create a mining giant
Glencore and Rio Tinto have resumed negotiations on a tie-up that would form the world’s largest miner, amid a wave of dealmaking fueled by surging demand for copper and critical metals. A combination would reshape global supply at a time when energy transition needs are tightening base-metal markets and pushing miners to scale.
Source: The New York Times
Merck reportedly in talks to buy Revolution Medicines for about $30B
Merck is in advanced discussions to acquire oncology-focused Revolution Medicines in a deal valued around $30 billion, according to the Wall Street Journal. The move would deepen Merck’s cancer pipeline as Big Pharma leans into late-stage assets to offset patent cliffs and sustain growth.
Source: Seeking Alpha
EU seals landmark free-trade pact with Mercosur
The European Union agreed to a sweeping trade deal with Argentina, Brazil, Paraguay and Uruguay (Mercosur), aiming to broaden market access and strengthen supply chains. The pact contrasts with a more coercive U.S. stance in recent negotiations and could rewire trans-Atlantic and South American trade flows over the long term.
Source: The New York Times
UK sets September 2026 opening for crypto-licensing gateway
Britain’s FCA said crypto firms can start applying for full authorization in September 2026 ahead of an October 2027 go-live, ending reliance on anti–money laundering registrations. There will be no automatic conversions—firms must secure FSMA authorization and can’t depend on third-party approvals for financial promotions, signaling a stricter, bank-like regime.
Source: FinanceFeeds
BNY launches tokenized deposits with ICE, Citadel and Circle
BNY debuted blockchain-based tokenized deposits for a group of marquee clients, bringing programmable settlement and 24/7 operability inside the bank-regulated perimeter. Unlike stablecoins, tokenized deposits remain bank liabilities that accrue interest, offering institutions on-chain speed with familiar legal and credit frameworks.
Source: FinanceFeeds
Saks Global prepares Chapter 11 filing, lines up $1.25B DIP financing
Cash-strapped luxury retailer Saks Global is planning to file for bankruptcy as soon as Sunday and is in advanced talks for a roughly $1.25 billion debtor-in-possession facility. The financing would keep operations running and address past-due vendor payments while management works toward a restructuring plan.
Source: Crain’s New York Business
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