Santos Ltd. reported a 12% increase in fourth-quarter production volumes, driven by strong performance at its Australian gas fields. The company updated its full-year 2025 production guidance to reflect higher output expectations. Santos said the improved results stemmed from successful drilling operations and enhanced operational efficiency at its key assets.

The energy company now forecasts annual production of 1.8 billion cubic feet per day for FY25, up from previous estimates of 1.7 billion cubic feet per day. Santos shares rose 3.2% following the announcement. The company also emphasized its commitment to maintaining dividend payments while investing in sustainable growth initiatives.

FS Bancorp Inc. reported fourth-quarter earnings that exceeded its own guidance but failed to meet Wall Street estimates. The bank holding company posted net income of $12.3 million, or 89 cents per share, compared to $11.8 million, or 85 cents per share, in the year-ago period. However, analysts had forecast earnings of $1.02 per share.

The company's total revenue rose 3.2% annually to $45.7 million. FS Bancorp's loan portfolio grew 4.1% year-over-year to $1.2 billion. The bank's provision for credit losses decreased to $2.1 million from $2.8 million in the prior quarter. The stock closed down 0.8% at $28.45 on the Nasdaq.

Indian equities advanced Monday as geopolitical tensions over Greenland eased, removing a key risk factor for global markets. The benchmark BSE Sensex gained 1.2%, while the NSE Nifty 50 climbed 1.4%.

The resolution of disputes between Denmark and Greenland over resource rights reduced uncertainty surrounding Arctic trade routes and mineral exploration. Analysts noted that the development alleviated concerns about supply chain disruptions affecting Indian exporters.

Investors also welcomed improved economic outlooks from major Indian companies. Reliance Industries Ltd. (RELIANCE.NS) reported stronger-than-expected quarterly earnings, while Tata Motors Ltd. (TATAMOTORS.NS) announced expanded manufacturing capacity in Southeast Asia. These developments supported broader market confidence ahead of the upcoming fiscal quarter.

Elon Musk escalated a public feud with Ryanair CEO Michael O'Leary over satellite internet installation, launching a social media vote to acquire the European low-cost carrier. The poll garnered 27.8 million views with 77% in favor, signaling a potential bid that could value Ryanair at $540 billion if a 50% premium is paid. Ryanair, Europe's largest budget airline, reported €16.1 billion net profit on €139.5 billion revenue in 2025, maintaining a 11.6% net margin through strict cost control. O'Leary opposes Starlink Wi-Fi due to fuel costs and passenger resistance, while Musk argues the technology enhances user experience. The proposed acquisition faces regulatory hurdles in the EU and shareholder resistance. The dispute reflects broader tensions between cost-driven aviation models and tech-forward innovation strategies.

Japan recorded a 2.65 trillion yen ($17 billion) trade deficit for 2025, marking the fifth consecutive yearly shortfall, the Finance Ministry reported Jan. 22.

The deficit was 53% smaller than the previous year's 5.4 trillion yen. Exports rose 3.1% while imports increased less than 1%. December showed a 105.7 billion yen ($669 million) trade surplus, down 12% from a year earlier.

Exports to the U.S. fell 11% in December, while shipments to Britain, Africa, Hong Kong and India rose. Imports from Europe remained robust but declined from Brazil and the Middle East.

U.S. tariffs on Japanese goods, currently at 15%, have added pressure. Meanwhile, China's rare earth export restrictions threaten Japanese automakers. Prime Minister Sanae Takaichi may call elections next month to bolster her party's standing amid public concerns over inflation and wage stagnation. The Nikkei Stock Average continues to reach new highs.

Lean hog futures advanced 45 cents on Wednesday as USDA reported a sharp rise in national base hog prices to $85.13, up $4.94 from the previous day. The CME Lean Hog Index climbed 27 cents to $82.03 for January 19 contracts. Pork carcass cutout values rose 51 cents to $93.98 per cwt. USDA estimated federally inspected hog slaughter at 495,000 head on Wednesday, bringing the weekly total to 1.404 million head, 77,000 below last week but 64,132 above the same period last year. February 26 hogs closed at $87.850, April 26 at $95.600, and May 26 at $99.275, all showing gains.

Cotton futures declined on Wednesday as traders reacted to weakening market sentiment, with March 2026 contracts closing at 64.3 cents per pound, down 4 points. May and July 2026 contracts closed at 65.92 and 67.4 cents respectively, also lower by 4 and 3 points. The Cotlook A Index remained steady at 74.80 cents per pound. Crude oil rose 31 cents to $60.67 per barrel, while the U.S. dollar index advanced to 98.585. The Adjusted World Price increased to 51.17 cents per pound, up 20 points from the previous week. ICE certified cotton stocks decreased to 10,422 bales following decertification of 607 bales on January 20. The Tuesday online auction reported sales at 61.10 cents per pound on 25,238 bales.

Corn futures fell 2 cents to 2 cents below opening levels as traders reacted to weak demand and USDA export reports. The CmdtyView national average cash corn price dropped 1.5 cents to $3.845 per bushel.

The USDA announced two private export sales totaling 345,000 metric tons of corn, including 150,000 MT to Colombia and 195,000 MT to unknown destinations. A Taiwan buyer also acquired 65,000 MT of U.S. corn in an overnight tender.

The Energy Information Administration's weekly ethanol production data, delayed one day due to a holiday, is expected to show a decline from last week's record high. March 2026 corn closed at $4.2175, while May and July 2026 contracts each closed at $4.2975 and $4.3625 respectively.

Live cattle futures gained 17 to 72 cents on Wednesday as traders reacted to thin cash market activity. February live cattle closed at $233.10, up $0.725, while April settled at $234.95, up $0.375. Feeder cattle futures advanced 45 cents to $1.70 across most contracts. USDA's Wednesday boxed beef report showed Choice cuts up $1.35 to $366.11, with Select up $2.61 to $362.45. Weekly cattle slaughter was estimated at 114,000 head, 19,000 below last week and 24,949 below the prior-year period.

BitGo Holdings Inc. priced its initial public offering at $18 per share, exceeding the marketed range of $15 to $17, according to people familiar with the transaction. The cryptocurrency firm sold 11.8 million shares in the offering, raising $212.8 million and valuing the company at over $2 billion.

The IPO, led by Goldman Sachs Group Inc. and Citigroup Inc., marks the first crypto company to go public in 2026. BitGo is expected to begin trading Thursday on the New York Stock Exchange under the symbol BTGO. The offering was significantly oversubscribed, though final details may still change.

Bitcoin prices have declined 6.5% in 2025, following a surge in crypto listings last year. A company representative declined to comment.

BitGo Holdings has priced its initial public offering at $18 per share, above the marketed range of $15 to $17, Bloomberg News reported on January 21, 2026.

The San Francisco-based digital asset security company will offer 11.8 million shares on the New York Stock Exchange under the symbol BTGO. At the top of the range, the offering would raise $212.8 million, valuing the company at over $2 billion.

Goldman Sachs and Citigroup are leading the underwriting. The company has not commented on the report, which was first cited by people familiar with the matter.

President Donald Trump’s journey to the World Economic Forum in Davos, Switzerland, was marred by technical issues and protests. A planned direct flight aboard Air Force One was aborted after an in-flight power failure, forcing a return to Andrews Air Force Base in Maryland. The incident raised concerns over the aging presidential aircraft, now nearly 40 years old.

Trump later departed on a C-32, a modified Boeing 757, arriving in Switzerland late Tuesday. Meanwhile, demonstrations in Zurich escalated into violent clashes, with protesters burning American flags and damaging U.S. business properties. The unrest began as a permitted rally but turned chaotic, prompting police to deploy tear gas and rubber bullets. At least two officers were injured.

Nvidia CEO Jensen Huang expressed regret over selling stock in 2013 to buy his parents a Mercedes, calling it "the most expensive car" he ever purchased. The decision came when Nvidia's market value was just $3 billion. Huang made the comment during a discussion at the World Economic Forum in Davos with BlackRock CEO Larry Fink.

Nvidia has since become the world's first company to reach a $5 trillion market cap, currently valued at $4.46 trillion. Huang also highlighted three key developments in AI over the past year: general reasoning capabilities in large models, accelerated industry adoption through open inference, and the emergence of physical AI. These shifts signal AI's transition from digital to physical applications.

NVIDIA Corp. CEO Jensen Huang announced at the World Economic Forum in Davos, Switzerland, that 2025 marked three pivotal advancements in artificial intelligence: enhanced model capabilities, the rise of open-source models, and progress in physical AI. These developments have accelerated real-world applications across industries and driven unprecedented infrastructure investment.

Huang stated that large language models now exhibit reasoning and planning abilities without specialized training, enabling agentic AI use in research and professional fields. He also highlighted the emergence of open-source models like DeepSeek as a key milestone, lowering barriers to AI innovation. Additionally, AI's ability to understand physical laws—from protein structures to quantum mechanics—has opened new frontiers in scientific research.

He emphasized that AI’s rapid adoption has made 2025 one of the highest venture funding years ever, with investments concentrated in AI-native sectors such as healthcare, robotics, manufacturing, and finance. Infrastructure spending is projected to reach trillions of dollars, with companies like TSMC, Foxconn, and Micron ramping up production capacity.

Phillips Connect has launched an integration with McLeod Software, enabling real-time smart trailer data—including cargo, brake, tire, and light health—to flow directly into McLeod’s Transportation Management System (TMS).

Available now for North American fleets, the integration delivers AI-powered insights from Phillips Connect’s CargoVision, which uses camera-based analytics to provide volumetric cargo measurements and trailer utilization data. The move aims to eliminate operational blind spots by transforming trailers into active data sources within existing fleet workflows.

MNS1, the first adopter, said the integration allows planners to instantly assess trailer readiness and available space. "It's a game-changer," said CEO Mike Narkys. McLeod’s Ahmed Ebrahim noted the partnership enhances network visibility and planning efficiency. Phillips Connect’s Todd Hodges called this the first of multiple planned integrations to centralize trailer intelligence across widely used logistics platforms.

Coinbase CEO Brian Armstrong confronted Bank of France Governor François Villeroy de Galhau at the World Economic Forum in Davos on January 21, 2026, over interest-bearing stablecoins and the future of monetary systems, drawing sharp contrasts between crypto innovation and central bank orthodoxy.

Armstrong defended yield-paying stablecoins as essential for consumer returns and U.S. competitiveness, citing China’s interest-paying CBDC and offshore stablecoins. Villeroy rejected the idea, calling it a systemic risk, and insisted a digital euro would not pay interest, emphasizing financial stability and sovereignty. “Monetary policy is part of sovereignty,” he said. Armstrong countered that Bitcoin, as a decentralized protocol with no issuer, represents an even more independent monetary system—dubbing it a potential “Bitcoin standard.”

The panel, moderated by CNBC’s Karen Tso, included Standard Chartered’s Bill Winters and Ripple’s Brad Garlinghouse. Winters supported yield for store-of-value appeal; Garlinghouse called for a level playing field between banks and crypto firms. Armstrong criticized U.S. banking lobbyists for influencing the stalled CLARITY Act, though he characterized legislative talks as ongoing.

Canada is accelerating energy exports to Asian markets through new trade agreements with China and Southeast Asia, reducing reliance on the U.S. after recent tariff tensions. The shift follows the May 2024 launch of the Trans Mountain Expansion (TMX), which tripled pipeline capacity to 890,000 barrels per day and enabled direct crude shipments to Asia via Westridge Marine Terminal.

Prime Minister Mark Carney’s January 2026 meeting with President Xi Jinping yielded a strategic partnership including a 6.1% tariff on up to 49,000 Chinese electric vehicles annually, aimed at boosting Canada’s EV supply chain. Canada exported $30 billion in goods to China in 2024, while importing $90 billion. Separately, a 2025 Letter of Intent with Malaysia covers LNG, oil, renewables, and small modular reactors (SMRs), leveraging Canadian CANDU technology.

The TMX terminal now supports 34 Aframax tankers monthly, with 75% of crude being heavy sour oil bound for complex Asian refineries. Canada also advances the Canada-ASEAN Free Trade Agreement (ACAFTA) to expand access to the $5 trillion regional market.

Disco Corp. (8367.T) shares rose as much as 15%, the most since April, after the semiconductor equipment maker posted December-quarter operating income of ¥47.3 billion ($299 million), surpassing analyst estimates of ¥39.3 billion.

The Tokyo-based supplier of wafer dicing and grinding tools benefited from surging demand for AI-related chips, driven by data center expansions at companies like Meta Platforms Inc. and Amazon.com Inc. Despite a conservative outlook that missed forecasts, investors focused on strong current earnings. Rival foundry TSMC plans up to $56 billion in capital spending this year, while SK Hynix and Samsung Electronics boost memory production.

Jefferies analysts Masahiro Nakanomyo and Hisako Furusumi noted broadening demand, including from China, with actual shipments reflecting underlying strength in the semiconductor equipment sector.

Australia’s unemployment rate dropped to 4.1% in December from 4.3%, below forecasts, as the economy added 65,200 jobs—more than double the expected gain—fueling speculation of a Reserve Bank of Australia (RBA) rate hike as early as February 2026.

The stronger-than-expected labor market data pushed yields on three-year government bonds to their highest since November 2023 and lifted the Australian dollar to a one-year high. Money markets now assign a nearly 60% probability of a February hike, up from under 33% before the release. The RBA’s next meeting is scheduled for February 2–3.

Commonwealth Bank strategist Carol Kong noted the jobs report clears one hurdle for a rate increase, with focus now shifting to the fourth-quarter inflation data due next week. Consumer prices may have risen 0.9% in the quarter, which she said could compel the RBA to act.

The central bank cut rates by 75 basis points between February and August 2025, bringing the cash rate to 3.6%. But at its December meeting, Governor Michele Bullock signaled further cuts were unlikely, opening the door to a tightening pivot. Markets fully price in a May hike and see over 90% odds of two hikes in 2026.

Old Second Bancorp (NASDAQ: OSBC) reported fourth-quarter 2025 revenue of $95.21 million, up 29.5% year-over-year and in line with analyst expectations. Non-GAAP earnings of $0.58 per share exceeded consensus by 8.1%.

The Illinois-based regional bank attributed growth to strong net interest income, which accounted for 82% of total revenue over the past five years. Tangible book value per share rose to $14.12, reflecting a 14.7% annual growth rate over the last two years, accelerating from its five-year average of 7.7%. Analysts project TBVPS to reach $16.05 in the next 12 months.

Despite the earnings beat and solid balance sheet trends, shares remained flat at $21.46 following the release. The bank operates 53 branches across the Chicago area, offering commercial and consumer lending, deposit services, and wealth management. Revenue growth has slowed recently, with an 8.8% annualized pace over the past two years versus 21.1% over five years.