Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
SpaceX Reportedly Preparing Record-Breaking IPO Targeting $1.5 Trillion Valuation 
Trump Claims Pardon for Tina Peters Despite No Legal Authority 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Ukraine, US and Europe Seek Unified Peace Framework With Security Guarantees for Kyiv 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Trump’s Approval of AI Chip Sales to China Triggers Bipartisan National Security Concerns 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Microsoft Unveils Massive Global AI Investments, Prioritizing India’s Rapidly Growing Digital Market 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Democrats Face Uphill Battle in Midterm Elections Despite Recent Victories, Reuters/Ipsos Poll Shows 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
EssilorLuxottica Bets on AI-Powered Smart Glasses as Competition Intensifies 
Australia’s Under-16 Social Media Ban Sparks Global Debate and Early Challenges 
U.S. President Donald Trump signed an executive order to establish a sovereign wealth fund within a year, aiming to generate national wealth and potentially acquire TikTok. The order directs the Treasury and Commerce Departments to develop a plan within 90 days, outlining funding, investment strategies, and governance.
Trump has long advocated for such a fund to finance major infrastructure projects. However, since the U.S. operates at a deficit, experts say Congress must approve funding. Treasury Secretary Scott Bessent stated the fund would leverage liquid assets and other government resources for investment.
One possible model involves converting the U.S. International Development Finance Corp (DFC) into a sovereign fund. Trump recently nominated Benjamin Black, son of Apollo Global co-founder Leon Black, to lead the agency.
While sovereign wealth funds are common in resource-rich nations, their feasibility in the U.S. remains uncertain. Colin Graham of Robeco questioned the logic of creating such a fund without a budget surplus.
In a surprising move, Trump suggested the fund could buy TikTok. The app’s Chinese parent, ByteDance, faces a looming deadline to sell or risk a U.S. ban. Trump, who delayed enforcement of the ban, said discussions are ongoing, and a decision is expected soon.
With over 170 million U.S. users, TikTok remains a hotly debated national security concern. Trump hinted at a deal, stating, “If we make the right move, we’ll do it. Otherwise, we won’t.” The move signals a strategic shift in U.S. economic policy, blending state-backed investment with geopolitical maneuvering.
