BNY Mellon (BK-US) CEO Robin Vince warned Wednesday at the World Economic Forum in Davos that political attacks on the Federal Reserve's independence could undermine efforts to maintain a low-rate environment.

Vince told Bloomberg Television, "Undermining the foundation of monetary policy independence does nothing to support the goal of sustained low interest rates." He emphasized that political interference, particularly from the Trump administration pressuring the Fed, is counterproductive to improving affordability and economic growth.

The comments follow heightened tensions after Fed Chair Jerome Powell revealed earlier this month that the Justice Department issued a grand jury subpoena related to his prior testimony—an action viewed as part of broader executive pressure. Vince stressed that only when such disruptions "die down" can the Fed refocus on economic stability and potential rate cuts.

Volex PLC reports robust third-quarter performance on January 21, 2026, citing strong demand across industrial and e-mobility markets, leading to an upward revision of its full-year revenue and profit outlook.

Revenue for the quarter rose 14% year-over-year to £382 million, with adjusted EBITDA increasing 22% to £47.1 million. The company attributed growth to higher volumes in power solutions for data centers and electric vehicle charging infrastructure. Volex now expects full-year revenue growth between 10% and 12%, up from prior guidance of 6% to 8%, with adjusted EBITDA margins expanding by at least 50 basis points.

The U.K.-based components manufacturer also announced a new manufacturing initiative in Mexico to support North American clients, with operations expected to begin in Q3 2026. Shares in Volex (LSE: VLX) closed up 8.3% in London trading following the release.

Advanced Industrial Services, a subsidiary of Cemtrex Inc. (CETX), has secured a $3.9 million mechanical services contract, effective immediately. The project involves industrial maintenance and system integration work for a large-scale manufacturing facility in the Midwest.

The contract is expected to generate revenue over a 12-month period, with work commencing in Q1 2026. Cemtrex said the award reflects growing demand for its industrial technology and engineering solutions. The client, which was not disclosed, will receive turnkey mechanical services including installation, calibration, and ongoing support of production-critical systems.

This award marks one of the largest single contracts in Advanced Industrial Services’ history and strengthens Cemtrex’s position in the industrial automation sector. Cemtrex reported $47.6 million in total revenue for fiscal year 2024, with its industrial segment showing a 14% year-over-year growth.

SCYNEXIS announces the U.S. Food and Drug Administration (FDA) has granted Qualified Infectious Disease Product (QIDP) and Fast Track designations for SCY-247, an investigational antifungal therapy, on January 21, 2026.

The designations support development of SCY-247 for treating invasive fungal infections, which the company says have limited treatment options and high mortality rates. QIDP status, under the Generating Antibiotic Incentives Now (GAIN) Act, provides eligibility for priority review and an additional six months of market exclusivity upon approval. Fast Track designation enables expedited review and more frequent interactions with the FDA during development.

SCY-247 is a novel oral glucan synthase inhibitor designed to target difficult-to-treat fungal pathogens, including Candida and Aspergillus species. SCYNEXIS plans to advance the candidate into later-stage clinical trials in 2026.

London-based TCI Fund Management, led by British investor Chris Hohn, generated $18.9 billion in net profits for clients in 2025, the highest annual return for any hedge fund, according to Forbes and Edmond de Rothschild’s Top 20 Hedge Fund Managers report.

TCI, managing $77 billion in assets, achieved a 27% return last year, fueled by concentrated bets on equities including GE Aerospace (GE-US), Microsoft (MSFT-US), Visa (V-US), Moody’s (MCO-US), and S&P Global (SPGI-US). As of September 2025, GE Aerospace was TCI’s largest holding at $14.2 billion; its stock rose 85% in 2025. Airbus and Safran holdings also gained over 40%. Since its 2004 launch, TCI has delivered $68.4 billion in net gains.

Hohn’s personal wealth rose to $11.8 billion from $9.2 billion in 2024. TCI paid $82 million in dividends to Hohn’s parent company and donated $797 million to charity, including $637 million to the Children’s Investment Foundation, which he founded.

D.E. Shaw and Bridgewater Associates ranked second and third, earning an estimated $12.7 billion and $15.6 billion, respectively. The top 20 firms, all founded before 2005, collectively generated $970 billion in lifetime profits.

MicroStrategy purchases 22,035 Bitcoin at an average of $95,280 per coin, spending approximately $2.13 billion—the company's largest acquisition in nine months. The move underscores renewed confidence in Bitcoin despite current prices trading nearly 7% below the purchase average.

The acquisition was partially financed through STRC, a new structured credit instrument, rather than issuing additional equity. This marks a strategic shift, allowing MicroStrategy to expand its Bitcoin holdings without diluting shareholder value or selling existing BTC. Over $100 million in STRC was issued in a single week, and the instrument maintained its $100 peg during recent market volatility, signaling growing investor trust.

Analysts note that 3% of MicroStrategy’s total Bitcoin holdings were added last week alone. The development positions the firm less as a corporate treasury and more as a Bitcoin-backed financial platform, creating a sustainable capital-raising mechanism aligned with long-term BTC accumulation.

U.S. stocks surged on January 21, 2026, after President Trump said he would not use force to acquire Greenland, easing geopolitical tensions that had triggered a sharp sell-off the prior day. The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC) each gained over 1%.

Trump’s remarks at the World Economic Forum in Davos clarified his stance, stating, “We probably won’t get anything unless I decide to use excessive strength… But I won’t do that.” Despite calling for “immediate negotiations,” his rejection of military action helped stabilize markets. The dollar strengthened against the euro as the EU reiterated readiness to respond to new U.S. tariffs.

Meanwhile, the Supreme Court heard arguments on the administration’s removal of Federal Reserve Governor Lisa Cook, raising concerns over Fed independence amid ongoing scrutiny of Chair Jerome Powell.

On corporate news, Netflix (NFLX) shares fell post-earnings, as weak price reactions to strong earnings persisted across the S&P 500. Johnson & Johnson (JNJ) and Charles Schwab (SCHW) are among firms reporting Wednesday.

A. Duie Pyle is developing a 43-acre, port-adjacent logistics facility at Port 460 Logistics Center in Suffolk, Virginia, aiming to enhance connectivity to the Port of Virginia and key regional freight corridors by Q2 2027.

The $110 million project will include a 52-door LTL cross-dock and 200,000 square feet of warehouse space, expandable to 420,000 square feet. It will support LTL, drayage, transloading, warehousing, contract dedicated services, and truckload brokerage. The hub strengthens A. Duie Pyle’s network from Virginia to Maine and west into Ohio.

Frank Granieri, chief commercial officer, said the center addresses rising demand for efficient, adaptive supply chain solutions near major container flows. The company operates nearly 2,000 power units and employs over 2,100 drivers, logging 117 million miles in 2024.

Located within the 5-million-square-foot master-planned Port 460 Logistics Center developed by Rockefeller Group and Matan Companies, the facility will create jobs in warehousing and transportation upon opening.

Sarah McCoy, interim CEO of the Virginia Port Authority, called the investment a vote of confidence in Virginia’s role as a top East Coast logistics gateway. The Port of Virginia moved 1.6 million TEUs in the first half of 2026.

Trading volume leaders across major U.S. exchanges were published for January 21, 2026, with the Nasdaq Composite, NYSE, and NYSE American listing their highest-volume stocks of the session.

Nasdaq's most active stock was Apple Inc. (AAPL), followed by Tesla Inc. (TSLA) and Nvidia Corp. (NVDA). On the NYSE, volume was led by shares of Exxon Mobil Corp. (XOM), UnitedHealth Group Incorporated (UNH), and Chevron Corp. (CVX). The NYSE American exchange saw highest activity in SPDR Gold Trust (GLD), VanEck Gold Miners (GDX), and Direxion Daily S&P 500 Bull 3X Shares (SPXL).

Volume data reflects investor sentiment amid mixed economic signals and ongoing sector rotation in technology, energy, and precious metals. Final figures are based on consolidated trading through 4:00 p.m. ET.

NVIDIA (NVDA-US) CEO Jensen Huang, speaking at the World Economic Forum in Davos on January 21, 2026, said the AI boom is driving surging demand for skilled tradespeople, with electricians, plumbers, and construction workers poised to earn six-figure salaries.

Huang noted during a panel with BlackRock CEO Larry Fink that wages for technical workers involved in building and maintaining AI data centers have nearly doubled due to massive infrastructure expansion. He called it “the largest infrastructure build-out in human history,” requiring trillions in new investment. “We’re seeing tremendous momentum—salaries up almost twofold. You don’t need a computer science PhD to thrive,” he said.

Huang highlighted a critical labor shortage in the U.S. for constructing chip fabs and AI facilities, emphasizing that these roles now offer six-digit incomes. His remarks echoed Palantir CEO Alex Karp’s earlier comments praising vocational training. Coreweave CEO Michael Intrator also cited growing demand for electricians, plumbers, and carpenters driven by AI's physical infrastructure needs.

Lexicon Pharmaceuticals has received U.S. Food and Drug Administration (FDA) authorization to begin a Phase 3 clinical trial of pilavapadin for treating diabetic peripheral neuropathic pain, the company announced January 21, 2026.

The pivotal trial will enroll approximately 500 patients across multiple U.S. sites, evaluating efficacy and safety over a 12-week period. Pilavapadin, an oral Factor XIa inhibitor, aims to address chronic nerve pain without central nervous system side effects common in current therapies. LXRX shares climbed 7.3% in after-hours trading following the announcement.

If successful, Lexicon plans to submit a New Drug Application (NDA) by mid-2028. Diabetic neuropathy affects over 18 million adults in the U.S., representing a potential multibillion-dollar market opportunity.

Next has acquired the Russell & Bromley brand, intellectual property, and three stores for £3.8 million in a pre-pack insolvency deal, triggering the closure of 33 outlets and nine concessions by January 25, 2026, putting 440 jobs at risk.

The 145-year-old footwear retailer entered administration after a five-year turnaround plan, “Re Boot,” failed to stabilize operations following a £9 million operating loss in 2024. Next said the acquisition secures the legacy of the British brand while leveraging its operational expertise. Retail Realisation, a Modella Capital affiliate, will manage closures and liquidation of remaining inventory. This follows Modella’s recent acquisitions of WH Smith, TOFS, and Claire’s Accessories—brands now facing imminent collapse after weak trading. Next has also expanded its portfolio with Cath Kidston, Joules, and FatFace in recent years.

Galaxy, the digital assets firm led by billionaire Mike Novogratz, is launching a $100 million hedge fund in Q1 2026 that will take both long and short positions across crypto tokens and financial services stocks. The move comes as Bitcoin fell to $88,375 on January 21, down 7.1% over the past week, amid geopolitical tensions and shifting market sentiment.

The fund will allocate up to 30% of assets to crypto tokens, including stablecoins and tokenized real-world assets, while the rest will target financial firms impacted by blockchain adoption. It has secured $100 million from family offices and institutional investors, with additional commitments expected. Joe Armao, fund head, said the “up only” phase of the current cycle may be ending but remains bullish on Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

Bitcoin’s decline followed Trump’s threat of 10% tariffs on eight European nations, escalating to 25% by June 1, prompting EU retaliation threats. Prediction markets now show a 70% probability Bitcoin will fall to $69,000 before reaching $100,000. Despite this, corporate buyers like Michael Saylor’s MicroStrategy continue accumulating, purchasing 22,300 BTC for $2.1 billion on January 21.

OpenEvidence, a U.S.-based AI startup providing clinical decision support tools to physicians, raised $250 million in a Series D round at a $12 billion valuation on January 21, 2026, doubling its value from $6 billion in October 2025. The funding was co-led by Thrive Capital and DST Global, bringing total capital raised to nearly $700 million.

The company’s AI-powered medical search engine is used daily by over 40% of U.S. physicians across more than 10,000 hospitals and medical centers. It processes approximately 18 million clinical consultations monthly—up from 3 million in early 2025—by synthesizing data from peer-reviewed journals and guidelines. Partnerships with the New England Journal of Medicine and the American Medical Association help ensure accuracy and trust. OpenEvidence plans to use the new funds to expand R&D and scale its AI infrastructure.

Netflix (NFLX) shares fell 12% after reporting fourth-quarter earnings below expectations, citing subscriber growth slowdown and rising content costs. Johnson & Johnson (JNJ) declined 4% despite revenue beat, as guidance raised concerns over margin pressure.

Halliburton (HAL) and United Airlines (UAL) rose 5% and 6%, respectively, on strong operational results and improved outlooks. Intel (INTC) also gained 3% following a turnaround plan announcement, though revenue missed estimates.

As of Jan. 16, 7% of S&P 500 companies had reported Q4 results, with analysts forecasting an 8.2% year-over-year EPS increase—down from 13.6% in Q3 but still marking the 10th consecutive quarter of earnings growth for the index. Wall Street has revised upward expectations for tech firms, driven by AI-related revenues.

This week’s calendar includes reports from Procter & Gamble (PG), 3M (MMM), D.R. Horton (DHI), GE Aerospace (GE), Abbott Laboratories (ABT), and Capital One (COF). The market remains focused on whether broader sectors can sustain momentum beyond Big Tech.

Digital insurer Lemonade announced a new pay-per-mile auto insurance product tailored for Tesla Full Self-Driving (FSD) users, set to launch in Arizona on January 26, 2026, and in Oregon on February 26, 2026. The company claims the product will reduce per-mile rates by approximately 50% by leveraging vehicle telemetry data from a technical collaboration with Tesla.

Lemonade said it uses proprietary risk models trained on real-time driving data to distinguish between human-driven and FSD-assisted operation, enabling dynamic pricing. Shai Wininger, co-founder and president of Lemonade, stated that drivers using FSD—despite not being fully autonomous—benefit from AI’s 360-degree awareness and millisecond reaction times, which the insurer says justify lower premiums.

The move marks one of the first insurance products explicitly priced based on software-driven driving behavior. Traditional insurers typically treat Teslas as standard vehicles. Lemonade’s existing pay-per-mile policy is available in 10 U.S. states, including California, Texas, and Washington.

SAN FRANCISCO, Jan 21, 2026 (Reuters) – U.S. insurer Lemonade announced a 50% reduction in pay-per-mile insurance rates for Tesla owners when the company’s Full Self-Driving (FSD) software is active, citing data showing significantly fewer accidents during autonomous operation.

The move, part of Lemonade’s new Autonomous Car insurance product, leverages vehicle telemetry from Tesla’s onboard computer to differentiate miles driven via FSD—classified as Level 2 autonomy—from human-driven miles. The discount will launch in Arizona on Jan 26 and expand to Oregon in February.

Lemonade Co-Founder Shai Wininger said the insurer’s models use real-time sensor data to price risk more accurately, noting that FSD-equipped Teslas have “far fewer accidents.” The company plans to lower premiums further with future FSD updates.

While Tesla already offers up to a 10% monthly discount for high FSD usage, Lemonade’s offer represents a deeper incentive tied directly to driving behavior. Regulators continue to investigate FSD-related crashes and traffic violations, but Lemonade asserts its pricing reflects reduced risk based on observed data.

Guernsey authorities have seized $11.4 million (£9 million) in assets tied to the OneCoin cryptocurrency fraud, one of the largest crypto scams in history. The assets, held under the name Aquitaine Group Limited at RBS International in Guernsey, were frozen following a Royal Court decision upholding a forfeiture order from German prosecutors in Bielefeld. The seizure was made under updated 2024 proceeds of crime laws.

The recovered funds represent approximately 0.2% of total estimated losses from the scheme, which collapsed in 2017 after Ruja Ignatova, known as the “Cryptoqueen,” vanished. Despite international efforts, including FBI and Europol listings, her whereabouts remain unknown. Experts note that modern on-chain detection tools could have flagged fraudulent activity earlier, but privacy-enhancing technologies now complicate recovery. Still, advancements in real-time monitoring offer hope for early intervention in future schemes.

Zanskar, a Salt Lake City-based geothermal company, has closed a $115 million private funding round led by Spring Lane Capital to accelerate exploration of hidden geothermal fields, including Big Blind in Esmeralda County, Nevada. The company uses proprietary AI models trained on decades of geological data to identify heat reservoirs without relying on surface indicators like hot springs or fumaroles.

The new capital will support drilling and development of multiple geothermal power plants before 2030. At Big Blind, Zanskar drilled two wells reaching 2,700 feet, discovering a reservoir with temperatures exceeding 250°F. The company estimates the site could power tens of thousands of homes and plans to build production facilities within three to five years. Despite grid interconnection delays, Zanskar says its AI-driven approach reduces exploration risk and costs compared to enhanced geothermal systems.

Since 2019, Zanskar has raised $180 million in equity funding. Its model combines historical oil-and-gas survey data with machine learning to predict subsurface heat, improving accuracy over time. The company now identifies dozens of high-potential sites across the Western U.S., where geothermal supplies less than 1% of national electricity—mostly from aging 1980s-era plants.

Experts say Zanskar’s method could unlock hundreds of gigawatts of untapped clean energy, especially as demand surges from AI data centers, EV manufacturing, and decarbonization efforts.

Deepinder Goyal, co-founder and CEO of Zomato parent Eternal, is stepping down from his role effective January 21, 2026, handing leadership to Albinder Dhindsa, CEO of Blinkit. Goyal will remain as vice chairman on the board, shifting focus to high-risk experimentation outside the constraints of a public company.

Eternal reported third-quarter adjusted revenue of ₹166.92 billion ($1.8 billion), up 190% year-on-year, with profit rising 73% to ₹1.02 billion ($11.13 million). Blinkit drove growth, with net order value surging 121% to ₹133 billion ($1.45 billion) in the quarter. The leadership change reflects growing strategic emphasis on quick commerce amid India’s rapidly expanding but scrutinized delivery sector.

Goyal has been involved in ventures including Continue Research, a longevity initiative, and Temple, a brain-health wearable. He also co-founded LAT Aerospace and remains an active angel investor.