Greetings, loved ones. We come to the end of another week and we’re still here.

Lots happened and we were chronically online so you didn’t have to be.

So sit back, relax and get stuck into the news you need to know, delivered to you via carefully crafted and curated memes.

⏰ Today's reading time is 5 minutes.

Quote of the Week

"The first term everybody was fighting me," he said. "This term everybody wants to be my friend."

Donald Trump is definitely coming back, and unlike last time, tech CEOs all want a piece of the action—or at least to avoid his potential wrath.

Former nerds turned surprisingly in shape tech leaders like Jeff Bezos and Mark Zuckerberg are suddenly Trump’s best mates, pledging millions for his inauguration. Even TikTok’s CEO is cosying up, despite Trump’s prior flirtations with banning the platform in the US.

Media outlets are also shifting gears, with ABC News coughing up $15 million to settle a defamation case rather than risk more legal battles with the president-elect. Meanwhile, formerly wary Republicans and even a few Democrats are lining up to play nice.

Eight years ago, resistance was the name of the game. Now it’s looking more like compliance—with an eye on self-preservation.

New York prosecutors using a 9/11 terrorism law in the charges against Luigi Mangione

New York prosecutors are charging Luigi Mangione under a 9/11-era anti-terrorism law for the murder of UnitedHealthcare CEO Brian Thompson, arguing his actions aimed to "intimidate a civilian population."

The law, typically used in terrorism cases, allows for harsher sentences, such as life imprisonment, if an offense is tied to acts of terror.

Mangione allegedly targeted the healthcare industry, carrying a note criticising corporate greed and ammunition with anti-insurance slogans.

Authorities claim the murder spread fear, prompting health industry executives to heighten security.

It’s very possible that the prosecution are looking to set a new precedent when it comes to political violence, as other high profile perpetrators of these sort of acts like Ted Kaczynski, a.k.a the Unabomber, were not convicted under terrorism-specific statutes.

Federal Reserve meeting moves markets and US Dollar

This week, the Federal Reserve convened its final meeting of 2024, resulting in a 0.25 percentage point reduction in the federal funds rate, setting the new target range at 4.25% to 4.5%.

This marks the third consecutive rate cut this year, following reductions in September and November.

Market reactions were notable to say the least: the S&P 500 declined by 3% on Wednesday, and Asian indices followed with declines on Thursday. The dollar also strengthened to its highest level since August. Whilst US markets rallied back Thursday, Asian and European ones remain bearish.

Looking ahead, the Fed's updated economic projections suggest a more gradual approach to rate cuts in 2025 than previously anticipated, with only two reductions expected, compared to the four projected earlier.

This adjustment reflects the Fed's cautious stance amid ongoing economic uncertainties and persistent inflation concerns.

Donald Trump tells EU to buy more US oil and gas or face tariffs

Trump has threatened tariffs on the EU unless it increases purchases of U.S. oil and gas, aiming to reduce the trade deficit. Trump’s proposal includes a 10% tariff on all goods and a 60% tariff on Chinese imports.

While the EU has already increased U.S. energy imports this year, sectors like automotive and chemicals could face significant risks if tariffs are imposed.

European Commission President Ursula von der Leyen has signaled a willingness to negotiate, seeking to avoid a trade conflict, but analysts are wary of economic uncertainty and potential fallout for both U.S-EU relations and global markets if the relationship stays frosty long into Trump’s second term.

Angela Rayner promises mayor for every region of England

Deputy British Prime Minister Angela Rayner has announced Labour’s latest big idea to fix the nation: stick a mayor in every English region.

The plan, billed as the biggest local government shake-up since the 1970s, promises to save taxpayers £3 billion by streamlining councils into unitary authorities.

Critics are saying they are just “mega-councils” that no one asked for.

Labour insists this will slash bureaucracy, speed up planning, and bring in investors drooling over streamlined local governance, with Rayner herself calling it a “game-changer.”

The idea is to give every region a mayor with powers over housing, transport, and jobs, which Labour claims will finally deliver the elusive “levelling up” agenda.

Nearly half of England doesn’t have devolution (decentralisation of governmental power) deals, so the hope is for the policy to come into play by 2026 and for new mayoral elections to be held that same year.

🍻Half Pints

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