Justine Musk, a writer and the <a href="https://www.benzinga.com/personal-finance/24/12/42741855/elon-musks-ex-wife-and-mother-of-5-kids-says-he-wont-take-no-for-an-answer-he-locks-his-gaze-on-to-something-and-says-it-shall-be-mine">ex-wife of tech mogul Elon Musk</a> – the richest person in the world – offered a rare glimpse into the personal philosophy that shaped one of the world's most ambitious entrepreneurs.&nbsp;



As the mother of Elon's five children and someone who shared years of her life with him, Justine had an intimate and revealing perspective on the man behind Tesla, SpaceX and Neuralink. Speaking at a TEDx talk in 2014, she shared a key lesson she observed during their marriage – a lesson not just about ambition but about boundaries and focus.



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"I was married, I was married–" she emphasized the past tense – "to a man who became extremely successful. And as I watched him rise, I noticed two things. He worked very hard, much harder than your average bear. And he said no a lot," she explained.



Justine detailed how Elon's ability to say no was instrumental to his success. "He said no to people who wanted his time, attention and energy. He said no in a way that protected his resources so that he could channel them toward his own goals. And I realized that behind every no is a deeper ‘yes' to whatever it is that you do want," she said. This realization was transformative for Justine, reshaping her understanding of boundaries, priorities and self-worth. "Your deep yes is your right to dream," she added.



<iframe loading="lazy" height="550px" scrolling="no" src="https://products.gobankingrates.com/pub/7f0b1145-f226-466d-b177-309e9bfa4a82?targeting[category]=&amp;targeting[company_product]=newsgen-article&amp;targeting[pub_inventory]=/personal-finance/25/01/42932900/elon-musks-ex-wife-and-mother-to-his-5-kids-says-his-secret-to-extreme-success-is-working-harder-than-average-bear-and-saying-no-a-lot" width="100%"></iframe>



She explains that the ability to say no is something we learn very early in life. As she notes, her children assert their power by saying no. However, somewhere between the ages of eight and 13, she lost her deep, instinctive no – it was drowned out by external voices telling her she was "too much." Justine points out that when people criticize you for being "too much" of anything, it can help you identify your greatest strengths.



As a writer and a mother, she reflected on how saying no wasn't just about asserting power but about <a href="https://www.benzinga.com/startups/25/01/42802794/there-wont-be-money-for-social-security-elon-musk-tells-joe-rogan-about-looming-bankruptcy-and-1-1-trillion-interest">embracing clarity and intention</a>. "No is like a bright line that, when used properly, marks off where you end and others begin," she added.



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Her insights resonate not only because they reflect Elon Musk's meteoric rise but also because they speak to a broader truth about success. It's not just about saying yes to opportunities but having the courage – and the wisdom – to say no to distractions.



This philosophy isn't unique to Musk. <a href="https://www.benzinga.com/personal-finance/24/03/37923815/steve-jobs-was-worth-billions-but-said-money-wasnt-that-important-famously-took-1-a-year-salary-">Steve Jobs</a> famously shared a similar sentiment in 1997: "Focus is about saying no and you have to say no. The result of that focus is going to be some really great products where the total is much greater than the sum of the parts."



Justine Musk's reflections remind us that in a world overflowing with demands and opportunities, the power of no isn't just about refusal – it's about commitment to the things that matter most. For her, observing this principle in action gave her a new lens on her own life and a deeper appreciation for the art of setting boundaries.



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Personal Finance

Elon Musk's Ex-Wife And Mother To His 5 Kids Says His Secret To Extreme Success Is Working Harder Than 'Average Bear' And Saying 'No' A Lot

This week has been a rollercoaster ride in the world of electric vehicles and ride-hailing services. From&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) recalling hundreds of thousands of vehicles to&nbsp;Warren Buffett-backed&nbsp;BYD Co&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) launching an affordable EV in Australia, there&#8217;s a lot to catch up on. Let&#8217;s dive into the top stories of the week.



Tesla Recalls Over 239,000 Vehicles



Tesla is recalling 239,382 vehicles in the U.S. due to concerns about the loss of rearview camera image, according to the National Highway Traffic Safety Administration (NHTSA). The issue arises from a potential short in the computer circuit board. Tesla has released a software update to address the problem and will replace affected computers free of charge. The recall includes 2024-25 Model 3 and Model S vehicles and 2023-25 Model X and Model Y.



<a href="https://www.benzinga.com/tech/25/01/42909595/tesla-recalls-over-239000-vehicles-over-rearview-camera-image-display-issues">Read the full article here.</a>



Warren Buffett-Backed BYD Launches Affordable EV in Australia



Chinese EV company BYD, in which Warren Buffett&#8217;s Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) holds a stake, is launching Australia&#8217;s first EV with a starting price under $30,000. This move could significantly boost Australia&#8217;s EV market. Despite selling a portion of its stake, Berkshire still owns around 4.9% of BYD, representing approximately $1.8 billion in its portfolio.



<a href="https://www.benzinga.com/news/management/25/01/42901570/warren-buffett-backed-byd-launches-australias-first-ev-under-30k-how-the-move-could-strengthen-fight-against-elon-musks-tesla">Read the full article here.</a>



Ross Gerber Praises Tesla&#8217;s Cybertruck Amid California Wildfires



Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, lauded Tesla&#8217;s Cybertruck for its performance during the devastating wildfire in Los Angeles's Pacific Palisades neighborhood. Gerber shared his experience of how the vehicle navigated fallen trees and flooded roads, and its HEPA filter system protected him from smoke.



<a href="https://www.benzinga.com/markets/equities/25/01/42890496/cybertruck-was-my-hero-today-says-ross-gerber-after-teslas-truck-allowed-him-to-navigate-california-wildfires-in-safety">Read the full article here.</a>



Uber and Lyft Revamp Robotaxi Strategy



Ride-hailing giants&nbsp;Uber Technologies Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and&nbsp;Lyft Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) are revising their robotaxi ambitions. They have restructured their businesses to accommodate competitors who have cracked the code, according to the Wall Street Journal. Under the new strategy, Uber and Lyft will earn a percentage of driverless taxi bookings while maintaining the fleet.



<a href="https://www.benzinga.com/25/01/42859391/uber-and-lyft-adapt-robotaxi-strategy-to-compete-in-tesla-and-waymos-market">Read the full article here.</a>



XPeng and Volkswagen to Build Super-Fast EV Charging Network in China



Chinese EV startup&nbsp;XPeng Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) and German automaker&nbsp;Volkswagen AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) are planning to jointly build a super-fast charging network in China. The over 20,000 charging piles operated by the two companies across 420 cities in China will now be accessible to both players going forward.



<a href="https://www.benzinga.com/25/01/42807958/xpeng-volkswagen-to-jointly-build-super-fast-ev-charging-network-in-china">Read the full article here.</a>



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Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

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Tesla Recalls Over 239,000 Vehicles, Uber and Lyft Revamp Robotaxi Strategy, Warren Buffett-Backed BYD Launches Affordable EV And More: This Week In Mobility

DOJ Sues 6 Of The Largest Landlords For Pricing Schemes That Harmed Struggling Renters



The U.S. Department of Justice on Tuesday amended its <a href="https://www.justice.gov/opa/pr/justice-department-sues-six-large-landlords-algorithmic-pricing-scheme-harms-millions">antitrust lawsuit</a> against RealPage to include six of the nation's largest landlords for allegedly participating in algorithmic pricing schemes.&nbsp;



The lawsuit accuses Greystar Real Estate Partners LLC, Blackstone's LivCor LLC, Camden Property Trust, Cushman &amp; Wakefield Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CWK#NYSE">CWK</a>) and Pinnacle Property Management Services LLC,&nbsp; Willow Bridge Property Company LLC and Cortland Management LLC of sharing data on rents and occupancy with competing firms in order to avoid lowering rents.&nbsp;



The landlords, who collectively operate more than 1.3 million units in 43 states and the District of Columbia, allegedly shared information including renewal rates and even their approach to pricing for the next quarter.



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"While Americans across the country struggled to afford housing, the landlords named in today's lawsuit shared sensitive information about rental prices and used algorithms to coordinate to keep the price of rent high," said Acting Assistant Attorney General Doha Mekki of the Justice Department's Antitrust Division.&nbsp;



"Today's action against RealPage and six major landlords seeks to end their practice of putting profits over people and make housing more affordable for millions of people across the country," Mekki added.&nbsp;



Oklahoma Man Pleads Guilty To $9.4 Million Crypto Scheme



Travis Ford, 35, of Glenpool Oklahoma, on Friday pleaded guilty to his role in a cryptocurrency investment scheme that raised $9.4 million from approximately 2,800 investors through fraudulent conduct.



Ford was the CEO, co-founder, and head trader of Wolf Capital Crypto Trading LLC, a purported cryptocurrency investment firm. From January 2023 through August 2023, Ford solicited investments through Wolf Capital's website and other social media and internet-based promotion activities and marketed himself as a sophisticated trader.&nbsp;



Ford lured victims with promises of high returns of 1% to 2% per day and later admitted that he did not believe those investment returns were possible to achieve consistently. Ford also misappropriated and diverted investor funds to benefit himself and his co-conspirators, to the financial detriment of his investors. 



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Image: Shutterstock&nbsp;

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Financial Crime Weekly: DOJ Sues 6 Of The Nation's Largest Landlords, Man Pleads Guilty To $9.4 Million Crypto Scheme

These nine large-cap stocks were the worst performers in the last week. Are they in your portfolio?



<ol>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares declined 21.83% amid overall market weakness due to a rise in yields.</li>



<li>Edison International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIX#NYSE">EIX</a>) stock fell 18.76%, probably due to wildfires in California.</li>



<li>Constellation Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) stock dipped 18.31% after the company reported worse-than-expected results and cut its FY25 adjusted EPS<a href="https://www.benzinga.com//node/42913319" target="_blank" rel="noreferrer noopener"> guidance and sales growth outlook</a>.</li>



<li>Pacific Gas &amp; Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) stock declined 14.19%, probably due to wildfires in California.</li>



<li>ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) stock declined 12.59% after Truist Securities downgraded the stock from Buy to Hold and lowered <a href="https://www.benzinga.com/quote/on/analyst-ratings" target="_blank" rel="noreferrer noopener">its price forecast from $85 to $60</a>.</li>



<li>Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) stock fell 11.52% amid overall market weakness, driven by a rise in yields.</li>



<li>Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) shares decreased 10.66%, probably due to overall market weakness following recent economic data and a rise in yields.</li>



<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) shares decreased 10.55%, probably due to overall market weakness.</li>



<li>The Campbell&#8217;s Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NASDAQ">CPB</a>) stock lost 10.22% last week. Wells Fargo lowered the <a href="https://www.benzinga.com/quote/cpb/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast</a> on the stock from $45 to $43 but maintained an equal-weight rating.</li>
</ol>



Photo via Affirm



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These eleven mid-cap stocks were the best performers in the last week. Are they in your portfolio?



<ol>
<li>Inari Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NARI#NASDAQ">NARI</a>) shares jumped 53.07% after Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>) agreed to acquire the company for $80 per share or equity value <a href="https://www.benzinga.com//node/42841672" target="_blank" rel="noreferrer noopener">of approximately $4.9 billion</a>.</li>



<li>Unifirst Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) stock escalated 29.58% after the company <a href="https://www.benzinga.com//node/42878530" target="_blank" rel="noreferrer noopener">reported first-quarter results</a>.</li>



<li>Plug Power, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) stock gained 23.18% last week after the U.S. Treasury unveiled its final guidance on the 45V Production Tax Credit, setting the stage for a <a href="https://www.benzinga.com/topic/hydrogen" target="_blank" rel="noreferrer noopener">greener hydrogen future</a>. Plug Power stands to benefit.</li>



<li>Paycor HCM, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYCR#NASDAQ">PYCR</a>) shares rose 20.77% after the company disclosed a deal to be fully acquired by Paychex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) in an all-cash transaction representing an <a href="https://www.benzinga.com//node/42855388" target="_blank" rel="noreferrer noopener">enterprise value of around $4.1 billion</a>.</li>



<li>MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) shares upped 20.50%.</li>



<li>SpringWorks Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWTX#NASDAQ">SWTX</a>) gained 19.18% last week amid rumors of takeover interest.</li>



<li>Frontline Plc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) stock grew 17.29%, probably after President-elect Donald Trump said he would reverse President Biden&#8217;s ban on offshore drilling.</li>



<li>Guardant Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GH#NASDAQ">GH</a>) shares rose 15.53%. The company announced that the Shield Multi-Cancer Detection Test was selected for <a href="https://www.benzinga.com//node/42842047" target="_blank" rel="noreferrer noopener">the National Cancer Institute&#8217;s Vanguard Study</a>.</li>



<li>GDS Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) shares increased 15.40%.</li>



<li>Capri Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRI#NYSE">CPRI</a>) stock grew 15.04% amid reports suggesting Prada may be a potential buyer for Capri&#8217;s Versace.</li>



<li>Equinox Gold Corp. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EQX#AMEX">EQX</a>) stock rose 14.88%. The company reported producing 213,960 ounces of gold in the fourth quarter <a href="https://www.benzinga.com//node/42888339" target="_blank" rel="noreferrer noopener">and 621,870 ounces in 2024</a>.</li>
</ol>



Photo courtesy Plug Power



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<li><a href="https://www.benzinga.com/news/large-cap/25/01/42934826/mobileye-palantir-tech-and-affirm-are-among-top-large-cap-losers-last-week-jan-6-10-are-the-others-in-your-portfolio" target="_blank" rel="noreferrer noopener">Mobileye, Palantir Tech And Affirm Are Among Top Large Cap Losers Last Week (Jan 6-10): Are The Others In Your Portfolio?</a></li>
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<ol>
<li>Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) stock gained 27.97% last week after the company <a href="https://www.benzinga.com//node/42912519" target="_blank" rel="noreferrer noopener">reported better-than-expected</a> first-quarter financial results.</li>



<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) stock jumped 25.80% after the company announced an agreement to acquire Calpine Corp., an electricity generation company, in a cash and stock <a href="https://www.benzinga.com//node/42916941" target="_blank" rel="noreferrer noopener">deal valued at $16.4 billion</a>.</li>



<li>FTAI Aviation Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) shares escalated by 20.48%.</li>



<li>TD SYNNEX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>) stock was up 15.05% after the company reported better-than-expected <a href="https://www.benzinga.com//node/42915528" target="_blank" rel="noreferrer noopener">fourth-quarter financial results</a>.</li>



<li>Aurora Innovation, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) shares grew 14.59% after the company announced a partnership with NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Continental AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CTTAF#OTC">CTTAF</a>) to scale driverless trucks using NVIDIA's <a href="https://www.benzinga.com//node/42841305" target="_blank" rel="noreferrer noopener">next-gen DRIVE Thor SoC</a>.</li>



<li>Royalty Pharma plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>) shares are up 14.35% after the company announced it <a href="https://www.benzinga.com//node/42902266" target="_blank" rel="noreferrer noopener">increased its quarterly dividend</a>.</li>



<li>Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) shares rose 13.75%. The company announced an expansion of its collaboration with Pure Storage to develop high-capacity, energy-efficient <a href="https://www.benzinga.com//node/42853369" target="_blank" rel="noreferrer noopener">solutions using Micron G9 QLC NAND</a>.</li>



<li>Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) stock upped 13.34% after the company reported better-than-expected<a href="https://www.benzinga.com//node/42912208" target="_blank" rel="noreferrer noopener"> results and issued 2025 guidance</a>.</li>



<li>Intra-Cellular Therapies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITCI#NASDAQ">ITCI</a>) stock gained 12.62%, entering into a settlement agreement with Sandoz and resolving a patent litigation related to CAPLYTA Patent.</li>



<li>United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) surged 12.24% in sympathy with Delta Air Lines, which rose after reporting strong <a href="https://www.benzinga.com//node/42919651" target="_blank" rel="noreferrer noopener">fourth-quarter financial results</a>.</li>
</ol>



Photo by VanderWolf via Shutterstock

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Walgreens Boots Alliance, Aurora Innovation And Delta Air Lines Are Among Top Large Cap Gainers Last Week (Jan 6-10): Are The Others In Your Portfolio?

Melania Trump&nbsp;is set to executive produce a new documentary on&nbsp;Amazon.com, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Prime Video, offering a rare glimpse into her life and influence in&nbsp;<a target="_blank" href="https://www.benzinga.com/25/01/42806697/melania-trump-to-executive-produce-upcoming-amazon-documentary-offering-rare-insight-into-her-life-and-influence-in-donald-trumps-political-world" rel="noreferrer noopener">Donald Trump's</a><a target="_blank" href="https://www.benzinga.com/25/01/42806697/melania-trump-to-executive-produce-upcoming-amazon-documentary-offering-rare-insight-into-her-life-and-influence-in-donald-trumps-political-world" rel="noreferrer noopener">&nbsp;political sphere</a>.&nbsp;



Smartphones



Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) remains unable to sell its&nbsp;iPhone 16&nbsp;in Indonesia. the company has&nbsp;not met Indonesia's domestic&nbsp;content requirements, which stipulate that smartphones sold in the country must include at<a target="_blank" href="https://www.benzinga.com/media/25/01/42890863/apples-airtag-factory-fails-to-impress-indonesia-iphone-16-sales-remain-banned-despite-local-production-plans" rel="noreferrer noopener"> least 35% locally-made components</a>.



Apple has clarified its privacy policies regarding Siri, following a $95 million settlement over allegations of unauthorized recordings. The company emphasized&nbsp;that it has never sold&nbsp;or used<a target="_blank" href="https://www.benzinga.com/tech/25/01/42890955/apple-clarifies-siri-privacy-policies-after-95-million-settlement" rel="noreferrer noopener"> Siri data for marketing purposes</a>.



Samsung Electronics Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) is gearing up for CES 2025 with major announcements and futuristic tech. Samsung&#8217;s theme for this year&#8217;s CES presentation is <a target="_blank" href="https://www.benzinga.com/tech/25/01/42808821/samsung-ces-2025-press-conference-from-cutting-edge-ai-to-transparent-screens-heres-what-to-expect" rel="noreferrer noopener">"AI for All: Everyday, Everywhere.</a>"



Early announcements from Samsung&#8217;s newsroom highlight AI-enhanced refrigerators, appliances with built-in screens, and more. Expect features like advanced personalization and smarter home integration.



Samsung has confirmed the release of its much-anticipated&nbsp;<a href="https://www.benzinga.com/25/01/42836293/samsungs-ballie-is-finally-coming-in-2025-will-this-round-home-robot-live-up-to-the-hype" target="_blank" rel="noreferrer noopener">Ballie</a><a href="https://www.benzinga.com/25/01/42836293/samsungs-ballie-is-finally-coming-in-2025-will-this-round-home-robot-live-up-to-the-hype" target="_blank" rel="noreferrer noopener">&nbsp;home robot</a>.



Samsung announced its Unpacked event, set for Wednesday, Jan. 22, 2025, in San Jose. The event will showcase the new&nbsp;Galaxy S25&nbsp;series <a target="_blank" href="https://www.benzinga.com/25/01/42836040/samsung-unpacked-2025-date-time-livestream-details-and-galaxy-s25-pre-order-offers-everything-you-need-to-know" rel="noreferrer noopener">and advancements in&nbsp;</a><a target="_blank" href="https://www.benzinga.com/25/01/42836040/samsung-unpacked-2025-date-time-livestream-details-and-galaxy-s25-pre-order-offers-everything-you-need-to-know" rel="noreferrer noopener">Galaxy AI</a>.



Samsung is set to introduce a subscription model <a target="_blank" href="https://www.benzinga.com/tech/25/01/42893958/after-apple-halts-hardware-subscription-plans-samsung-unveils-similar-strategy-for-ai-powered-galaxy-smartphones" rel="noreferrer noopener">for its Galaxy smartphones</a>.



Media &amp; Gaming



Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google&nbsp;TV users are reportedly encountering issues with purchasing certain movies, including&nbsp;<a target="_blank" href="https://www.benzinga.com/25/01/42808621/google-tv-reportedly-struggles-with-missing-movie-purchases-disney-classics-and-new-releases-now-locked-behind-streaming-services" rel="noreferrer noopener">Walt Disney Co.&#8217;s</a><a target="_blank" href="https://www.benzinga.com/25/01/42808621/google-tv-reportedly-struggles-with-missing-movie-purchases-disney-classics-and-new-releases-now-locked-behind-streaming-services" rel="noreferrer noopener">&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>)&nbsp;classics</a>.



Walt Disney said that its streaming platforms have reached another milestone.&nbsp;The company&#8217;s streaming platforms,&nbsp;Disney+,&nbsp;Hulu, and&nbsp;ESPN+, have amassed approximately 157 million monthly active users globally who<a target="_blank" href="https://www.benzinga.com/25/01/42890512/disney-now-has-157-million-monthly-ad-supported-viewers-on-disney-hulu-and-espn-globally" rel="noreferrer noopener"> engage with ad-supported content</a>.



Technology



Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has decided to temporarily pause construction on parts of its&nbsp;ambitious data center <a target="_blank" href="https://www.benzinga.com/25/01/42806852/microsoft-pauses-construction-on-33-billion-mount-pleasant-data-center-project-cites-technology-changes-and-design-re-evaluation" rel="noreferrer noopener">project&nbsp;in Mount Pleasant</a>.



Nvidia Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO&nbsp;Jensen Huang&nbsp;delivered the keynote at CES 2025. The keynote's highlight was the introduction of the latest&nbsp;GeForce&nbsp;RTX 5000&nbsp;Graphic cards series, which include the $1,999 RTX 5090, $999 RTX 5080, $749 <a target="_blank" href="https://www.benzinga.com/tech/25/01/42835923/jensen-huang-unveils-monster-gpus-nvidias-rtx-5000-series-starting-at-549" rel="noreferrer noopener">RTX 5070 Ti, and $549 RTX 5070</a>.



The lead product for&nbsp;Google's AI Studio&nbsp;has voiced concerns over the U.S. government's <a target="_blank" href="https://www.benzinga.com/25/01/42836724/google-lead-product-questions-americas-ai-priorities-as-platforms-embrace-chinese-models-its-so-great-so-cheap-so-fast-such-good-rate-limits" rel="noreferrer noopener">approach to artificial intelligence</a>.



Also, Nvidia CEO&nbsp;Jensen Huang&nbsp;introduced the company&#8217;s $3,000 "personal AI supercomputer," a compact, high-performance machine designed to run advanced AI models right <a target="_blank" href="https://www.benzinga.com/tech/25/01/42838231/jensen-huang-unveils-3000-personal-ai-supercomputer-the-size-of-a-small-book-it-runs-the-entire-nvidia-ai-stack" rel="noreferrer noopener">from your desk at CES 2025</a>.



Amazon.com has expanded its home security portfolio with the launch of smart smoke <a target="_blank" href="https://www.benzinga.com/media/25/01/42838001/amazons-ring-introduces-smart-smoke-alarms-at-ces-2025-boosting-home-security-with-pro-monitoring-features" rel="noreferrer noopener">and carbon monoxide alarms</a>.



Dell Technologies Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) announced a major rebranding of its personal computers, aiming to boost sales by adopting a simplified <a target="_blank" href="https://www.benzinga.com/25/01/42869349/dell-takes-bold-step-to-revive-pc-sales-with-simplified-apple-like-brandingxps-and-inspiron-are-gone-for-good" rel="noreferrer noopener">naming strategy similar to&nbsp;</a><a target="_blank" href="https://www.benzinga.com/25/01/42869349/dell-takes-bold-step-to-revive-pc-sales-with-simplified-apple-like-brandingxps-and-inspiron-are-gone-for-good" rel="noreferrer noopener">Apple</a>.



Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO&nbsp;Mark Zuckerberg&#8217;s&nbsp;accusation of censorship has been firmly <a target="_blank" href="https://www.benzinga.com/general/social-media/25/01/42891403/mark-zuckerberg-accuses-eu-of-censorship-spokesperson-pushes-back-on-metas-allegations-we-absolutely-refute-any-claims" rel="noreferrer noopener">denied by the European Commission</a>.



The Commission stated that their regulations only mandate the removal of illegal content. "We absolutely refute any claims of censorship," said a Commission spokesperson.



Artificial Intelligence (AI)



Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) is making a significant move in the AI sector with a $300 million investment in&nbsp;DDN, a company known for its expertise <a target="_blank" href="https://www.benzinga.com/news/25/01/42892338/blackstone-invests-300-million-in-ai-data-firm-that-powers-elon-musks-xai-supercomputer" rel="noreferrer noopener">in data storage and analysis</a>.



Apple committed to updating its AI feature following a complaint from the BBC.&nbsp;The issue came to light last month after the BBC reported that an AI-generated summary falsely claimed that&nbsp;Luigi Mangione, accused of killing&nbsp;UnitedHealthcare&nbsp;CEO<a target="_blank" href="https://www.benzinga.com/25/01/42836957/apple-acknowledges-ai-flaws-after-bbc-complaint-vows-fix-for-misleading-news-summaries" rel="noreferrer noopener">&nbsp;</a><a target="_blank" href="https://www.benzinga.com/25/01/42836957/apple-acknowledges-ai-flaws-after-bbc-complaint-vows-fix-for-misleading-news-summaries" rel="noreferrer noopener">Brian Thompson</a><a target="_blank" href="https://www.benzinga.com/25/01/42836957/apple-acknowledges-ai-flaws-after-bbc-complaint-vows-fix-for-misleading-news-summaries" rel="noreferrer noopener">, had shot himself</a>.



OpenAI&nbsp;CEO&nbsp;Sam Altman&nbsp;has made a bold prediction regarding the development of artificial general intelligence (AGI), suggesting it will <a target="_blank" href="https://www.benzinga.com/media/25/01/42867568/openai-ceo-sam-altman-predicts-agi-will-arrive-during-the-trump-presidency-says-chips-act-not-effective-enough" rel="noreferrer noopener">occur during&nbsp;</a><a target="_blank" href="https://www.benzinga.com/media/25/01/42867568/openai-ceo-sam-altman-predicts-agi-will-arrive-during-the-trump-presidency-says-chips-act-not-effective-enough" rel="noreferrer noopener">Donald Trump's</a><a target="_blank" href="https://www.benzinga.com/media/25/01/42867568/openai-ceo-sam-altman-predicts-agi-will-arrive-during-the-trump-presidency-says-chips-act-not-effective-enough" rel="noreferrer noopener">&nbsp;presidency</a>.&nbsp;



Anthropic, the AI startup behind "Claude" backed by Jeff Bezos, is reportedly in advanced discussions to secure $2 billion in funding. This deal could elevate its valuation to $60 billion, positioning it among the top <a href="https://www.benzinga.com/markets/equities/25/01/42867792/jeff-bezos-backed-anthropic-set-to-become-one-of-the-top-5-us-startups-as-it-reportedly-eyes-60-billion-valuation-with-2-billion-funding-round" target="_blank" rel="noreferrer noopener">five most valuable U.S. startups</a>.



Image: Shutterstock

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DELL

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MSFT

SSNLF

Consumer Tech News (Jan 6-10): Microsoft Pauses Ambitious Data Center Project, Blackstone Makes $300 Million Investment In AI & More

The week was a rollercoaster for the tech world, particularly for&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). The tech giant faced a potential market share decline in China, while its CEO, Tim Cook, enjoyed a significant pay rise. Amid privacy controversies, Apple clarified its Siri privacy policies and acknowledged AI flaws. Meanwhile,&nbsp;Samsung Electronics Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>)&nbsp;unveiled a subscription model for its AI-powered Galaxy smartphones.



Apple&#8217;s Market Share Decline in China



Apple is reportedly facing a drop in its market share in China, attributed to a decrease in iPhone shipments, according to supply chain analyst Ming-Chi Kuo. Despite the expected launch of the new iPhone SE 4, Kuo forecasts a 6% year-over-year decline in shipments for the first half of 2025. The thin design of two upcoming iPhone models, which may only support eSIM, a feature not widely promoted in the Chinese market, is expected to contribute to this decline.



<a href="https://www.benzinga.com/tech/25/01/42931758/apple-staring-at-market-share-decline-in-china-amid-declining-iphone-shipments-top-analyst-flags-why-some-models-could-be-face-shipping-momentum-challenges">Read the full article here.</a>



Tim Cook&#8217;s 2024 Salary



Despite controversies over Apple&#8217;s AI and Siri privacy policies, CEO Tim Cook saw an 18% increase in his annual compensation in 2024, reaching $74.6 million. The rise was primarily due to an increase in stock awards and non-equity incentive plan compensation.



<a href="https://www.benzinga.com/tech/25/01/42931220/apple-ceo-tim-cook-took-home-74-6-million-in-2024-up-18-despite-ai-and-siri-privacy-controversies">Read the full article here.</a>



Apple Clarifies Siri Privacy Policies



Following a $95 million settlement over allegations of unauthorized recordings, Apple clarified its privacy policies regarding Siri. The company emphasized that it has never sold or used Siri data for marketing purposes.



<a href="https://www.benzinga.com/tech/25/01/42890955/apple-clarifies-siri-privacy-policies-after-95-million-settlement">Read the full article here.</a>



Apple Admits AI Flaws



Apple has committed to updating its AI feature following a complaint from the BBC. The tech giant acknowledged that its AI-generated news summaries on iPhones have been inaccurate.



<a href="https://www.benzinga.com/25/01/42836957/apple-acknowledges-ai-flaws-after-bbc-complaint-vows-fix-for-misleading-news-summaries">Read the full article here.</a>



Apple Rival Unveils AI Subscription Model



Apple rival Samsung is set to introduce a subscription model for its Galaxy smartphones, following Apple&#8217;s pause on its own subscription service plans. The AI Subscription Club, initially launched for select Samsung home appliances in South Korea, will be expanded to Galaxy phones and the Ballie AI robot.



<a href="https://www.benzinga.com/tech/25/01/42893958/after-apple-halts-hardware-subscription-plans-samsung-unveils-similar-strategy-for-ai-powered-galaxy-smartphones">Read the full article here.</a>



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<li><a href="https://www.benzinga.com/25/01/42931896/jeff-bezos-500-million-superyacht-koru-steals-the-show-at-st-barts-annual-festival-where-173-billionaires-turned-up-with-their-yachts">Jeff Bezos&#8217; $500 Million Superyacht Koru Steals The Show At St. Bart&#8217;s Annual Festival Where 173 Billionaires Turned Up With Their Yachts</a></li>
</ul>



Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Apple's Market Woes, Tim Cook's 2024 Salary, And Siri Privacy Concerns: This Week In Appleverse

The past week has been a whirlwind of tech advancements and strategic deals, with AI taking center stage.&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stole the spotlight at the Consumer Electronics Show (CES) with its AI-powered innovations. Meanwhile,&nbsp;Hewlett Packard Enterprise Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) secured a billion-dollar deal with Elon Musk&#8217;s X, and President-elect Donald Trump revealed his vision for AI and energy expansion. Here&#8217;s a recap of the top stories.



Nvidia&#8217;s AI Innovations at CES



Nvidia kicked off the week with a strong presence at CES, where CEO&nbsp;Jensen Huang&nbsp;unveiled the company&#8217;s $3,000 personal AI supercomputer, Project DIGITS. Powered by the GB10 Grace Blackwell super chip, this desktop-sized marvel is set to revolutionize AI capabilities. Huang also showcased the new RTX 5000 GPU series, RTX 50-series laptops, and the Grace Blackwell NVLink 72 system.



<a href="https://www.benzinga.com/media/25/01/42843417/nvidia-highlights-ai-chips-powering-pubg-robotics-chatgpt-moment-automotive-expansion-and-more-at-ces-event">Read the full article here.</a>



Unveiling of Nvidia&#8217;s $3000 Personal AI Supercomputer



During his CES keynote, Huang introduced Digits, a compact, high-performance machine designed to run advanced AI models right from your desk. Priced at $3,000, Digits is powered by Nvidia's proprietary GB10 Grace Blackwell superchip, specifically designed to accelerate computations required for AI workloads. The supercomputer is expected to be available in May 2025.



<a href="https://www.benzinga.com/tech/25/01/42838231/jensen-huang-unveils-3000-personal-ai-supercomputer-the-size-of-a-small-book-it-runs-the-entire-nvidia-ai-stack">Read the full article here.</a>



HP&#8217;s $1 Billion AI Server Deal with Elon Musk&#8217;s X



Hewlett Packard Enterprise has reportedly secured a deal worth over $1 billion to supply AI-optimized servers to Elon Musk‘s social media platform, X. The deal, finalized late last year, sees HP providing servers tailored for AI applications, a sector experiencing robust demand from enterprises.



<a href="https://www.benzinga.com/25/01/42931833/hewlett-packard-enterprise-strikes-1b-ai-server-deal-with-elon-musks-x-report">Read the full article here.</a>



Elon Musk&#8217;s Push for OpenAI Stake Auction



Elon Musk has requested the attorneys-general of California and Delaware to mandate an auction of a substantial portion of OpenAI's stake. Musk's legal representative, Marc Toberoff, reached out to the top legal officers of the states on behalf of major AI investors, advocating for an open bidding process.



<a href="https://www.benzinga.com/news/legal/25/01/42904926/elon-musk-pushes-california-delaware-attorneys-general-to-force-openai-stake-auction-amid-bitter-legal-battle-with-sam-altman">Read the full article here.</a>



Trump&#8217;s Vision for AI and Energy Expansion



President-elect Donald Trump spotlighted AI and drilling expansion as pillars of his economic vision. During a press conference at Mar-a-Lago, Trump outlined plans to accelerate America&#8217;s leadership in AI by supporting private investments in data centers and energy infrastructure.



<a href="https://www.benzinga.com/government/regulations/25/01/42865106/trump-vows-to-power-ai-boom-with-expanded-oil-drilling-need-double-the-electricity-at-least-that-we-have-right-now">Read the full article here.</a>



Read Next:



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<li><a href="https://www.benzinga.com/25/01/42931896/jeff-bezos-500-million-superyacht-koru-steals-the-show-at-st-barts-annual-festival-where-173-billionaires-turned-up-with-their-yachts">Jeff Bezos&#8217; $500 Million Superyacht Koru Steals The Show At St. Bart&#8217;s Annual Festival Where 173 Billionaires Turned Up With Their Yachts</a></li>
</ul>



Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Nvidia's AI Supercomputer, HP's $1 Billion Deal With Elon Musk's X, And Trump's AI-Driven Vision: This Week In Artificial Intelligence

The past week was a rollercoaster for the cryptocurrency world. From predictions of a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) supercycle to a groundbreaking Senate subcommittee on digital assets, the crypto landscape is buzzing with activity. Here&#8217;s a quick recap of the top stories that shaped the crypto market over the weekend.



Bitcoin Supercycle on the Horizon?



Economist and trader Alex Kruger has expressed a bullish outlook on Bitcoin, despite the cryptocurrency currently trading 13% below its all-time high. Kruger attributes this optimism to the approval of spot Bitcoin exchange-traded funds (ETFs) in January 2024, which he suggests may alter Bitcoin's traditional four-year halving cycles.



<a href="https://www.benzinga.com/25/01/42931747/bitcoin-supercycle-incoming-says-economist-but-theres-a-catch">Read the full article here.</a>



Crypto&#8217;s Capitol Hill Breakthrough



In a significant development, the Senate Banking Committee announced the creation of its first-ever subcommittee dedicated to cryptocurrency and blockchain technology. This move signifies a shift in the political landscape, indicating a broader acceptance and integration of digital currencies into the mainstream of U.S. governance.



<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42921493/cryptos-capitol-hill-breakthrough-senate-subcommittee-signals-shifting-political-winds">Read the full article here.</a>



Bitcoin&#8217;s Q1 Prospects



Despite Bitcoin&#8217;s struggle between $90,000 and $100,000, analysts and traders remain upbeat about its prospects in the first quarter of 2025. Asymmetric Fund CEO Joe McCann shared his "tactical short-term bearish" outlook for the cryptocurrency market but remains optimistic about Q1 as a seasonally profitable period.



<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42919731/bitcoin-to-bounce-back-in-q1-but-beware-20-corrections-analysts-warn">Read the full article here.</a>



Scaramucci&#8217;s Crypto Strategy



Anthony Scaramucci, CEO of investment firm SkyBridge Capital, revealed his take-profit strategy for cryptocurrencies. He stated that he would not sell his Bitcoin but rather target altcoins such as Solana (SOL/USD) in the long run.



<a href="https://www.benzinga.com/25/01/42906639/anthony-scaramucci-was-asked-about-his-take-profit-strategy-on-bitcointhis-is-what-he-said">Read the full article here.</a>



Unfortunate Bitcoin Loss



James Howells, known for accidentally discarding a hard drive containing 8,000 Bitcoin, suffered a setback in his quest to reclaim his fortune. A high court ruling dismissed Howells' legal claim to recover the hard drive, citing no "reasonable grounds" for bringing the claim and "no realistic prospect" of winning it.



<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42901382/man-who-accidentally-threw-away-8000-bitcoin-hard-drive-suffers-new-kick-in-the-teeth-as-uk-court-dismisses-his-claim">Read the full article here.</a>



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<li><a href="https://www.benzinga.com/25/01/42931896/jeff-bezos-500-million-superyacht-koru-steals-the-show-at-st-barts-annual-festival-where-173-billionaires-turned-up-with-their-yachts">Jeff Bezos&#8217; $500 Million Superyacht Koru Steals The Show At St. Bart&#8217;s Annual Festival Where 173 Billionaires Turned Up With Their Yachts</a></li>
</ul>



Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

$BTC

Bitcoin's Supercycle, Crypto's Capitol Breakthrough, And More: This Week In Crypto

The week has been a rollercoaster ride for the U.S. economy. From a slowdown in private sector job growth to rising inflation concerns at the Federal Reserve, the economic landscape has been anything but predictable. Let&#8217;s dive into the top stories that shaped the week.



Private Sector Job Growth Slows Down



The U.S. private sector added 122,000 jobs in December, a significant drop from November&#8217;s 146,000, according to a report by&nbsp;Automatic Data Processing Inc.&nbsp;The manufacturing sector saw a contraction in employment for the third consecutive month, indicating a potential slowdown in the labor market.



<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42873182/us-private-businesses-add-122000-jobs-in-december-the-labor-market-downshifted-to-a-more-modest-pace-of-growth">Read the full article here.</a>



Federal Reserve Expresses Inflation Concerns



The Federal Reserve&#8217;s December meeting was dominated by concerns over persistent inflation and potential policy shifts under the new White House administration. Policymakers were divided on the pace of future rate adjustments, with the Fed cutting rates by 25 basis points, bringing the federal funds rate to 4.25%-4.5%.



<a href="https://www.benzinga.com/news/econ-s/25/01/42884303/fed-minutes-reveal-inflation-jitters-policymakers-signal-slower-interest-rate-easing-path-ahead">Read the full article here.</a>



Strong Job Growth in December



The U.S. labor market ended 2024 on a high note, adding 256,000 jobs in December, surpassing economist forecasts. The Bureau of Labor Statistics reported that this marked the strongest employment growth since March 2024.



<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42912480/us-economy-adds-256000-payrolls-in-december-as-tight-labor-market-tops-forecasts-dollar-treasury-yields-spike">Read the full article here.</a>



Mortgage Rates Hit Six-Month High



The new year started on a sour note for prospective U.S. homebuyers as mortgage rates surged to their highest level in six months. The average interest rate on 30-year fixed-rate mortgages with conforming loan balances of $766,550 or less climbed to 6.97%, according to data from the Mortgage Bankers Association.



<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42764583/mortgage-rates-soar-to-697-applications-crash-jobless-claims-fall-thursdays-econ-data">Read the full article here.</a>



Dollar Hits 14-Month High Amid Tariff Speculation



The U.S. dollar extended its rally to a 14-month high amid speculation that President-elect Donald Trump is considering invoking sweeping emergency powers to implement new tariffs. This move could potentially fuel inflation and policy uncertainty.



<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42878896/dollar-jumps-to-14-month-highs-30-year-yields-near-danger-zone-as-trump-mulls-national-economic-emergency-to-set-tariffs">Read the full article here.</a>



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<li><a href="https://www.benzinga.com/25/01/42931896/jeff-bezos-500-million-superyacht-koru-steals-the-show-at-st-barts-annual-festival-where-173-billionaires-turned-up-with-their-yachts">Jeff Bezos&#8217; $500 Million Superyacht Koru Steals The Show At St. Bart&#8217;s Annual Festival Where 173 Billionaires Turned Up With Their Yachts</a></li>
</ul>



Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Economics

General

Job Growth, Fed Jitters, And Rising Mortgage Rates: This Week In Economics

Wall Street wiped out its entire post-election rally this week as mounting interest-rate fears were stoked by a red-hot labor market, surging inflation expectations and escalating geopolitical tensions ahead of Donald Trump&#8216;s <a href="https://www.benzinga.com/news/25/01/42916780/donald-trump-receives-unconditional-discharge-in-new-york-hush-money-case-will-enter-white-house-as-convicted-felon">return to the White House</a>. 



In a shortened trading week due to Thursday&#8217;s funeral for former President Jimmy Carter, market activity reached a<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42922299/wall-street-tumbles-on-blowout-payrolls-oil-rallies-to-76-us-dollar-hits-26-month-highs-whats-driving-markets-friday"> fever pitch on Friday.</a>



The U.S. economy boasted an impressive <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42912480/us-economy-adds-256000-payrolls-in-december-as-tight-labor-market-tops-forecasts-dollar-treasury-yields-spike">256,000 nonfarm payrolls</a> in December — a figure that made the consensus economist forecast of 160,000 jobs pale in comparison. This marked the strongest employment growth since March. Additionally, the unemployment rate dropped to 4.1%, beating forecasts of 4.2%.



In simple terms, the U.S. labor market ended 2024 firing on all cylinders. While this robust performance bodes well for consumer spending, it poses a significant challenge for the Federal Reserve, which now faces mounting pressure to <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42913622/dollar-soars-to-27-month-highs-30-year-yields-hit-5-stocks-tumble-jobs-report-oil-spike-darken-feds-interest-rate-cut-hopes">keep inflation in check.</a>



Expectations for a new interest rate cut were further pushed down the road to September 2025 in reactions to new economic developments. For stocks, this represented a setback, as indices tumbled across the board.



Earlier in the week, President-elect Trump, in a one-hour speech at Mar-a-Lago, floated provocative ideas, including annexing <a href="https://www.benzinga.com/news/events/25/01/42860583/trump-floats-canada-as-51st-us-state-says-hes-ready-to-use-economic-force-to-achieve-it">Canada as a 51st state</a>, imposing stringent tariffs on Mexico and demanding NATO members increase military spending to 5% of GDP.



On Friday, the Biden administration announced <a href="https://www.benzinga.com/etfs/sector-etfs/25/01/42919047/oil-nears-80-as-us-prepares-new-russia-sanctions">new sanctions targeting Russian oil </a>giants Gazprom Neft and Surgutneftegas, shadow fleet vessels and opaque traders. These measures triggered a sharp rise in oil prices, further unsettling markets.



<h3 class="wp-block-heading">Inflation Fears Surge</h3>



Consumer inflation expectations for the next five years reached 3.3% in January 2025, hitting their highest levels since June 2008, according to <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42917321/consumer-inflation-worries-highest-since-2008-u-of-m-survey-says-wall-street-tumbles-to-2-month-lows">a University of Michigan survey</a>. Rising inflation anxiety may reflect concerns over the incoming Trump administration&#8217;s planned tariff hikes.



<h3 class="wp-block-heading">Wildfires Impact Insurers</h3>



California wildfires destroyed over 10,000 structures, intensifying pressure on property insurers like Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>). Economic losses could reach $57 billion, with insurance <a href="https://www.benzinga.com/markets/equities/25/01/42906089/california-wildfires-ignite-concerns-for-insurance-stocks-here-are-some-insurance-etfs-which-could-be-impacted">stocks under market focus.</a>



<h3 class="wp-block-heading">Rate Hike Panic</h3>



The blowout December jobs report forced Bank of America Securities to scrap expectations for further interest-rate cuts. It marks a notable U-turn from a top investment bank. Economist Aditya Bhave floated the risk of rising discussions towards interest rate cuts, should core inflation <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42926956/bank-of-america-scraps-interest-rate-cut-calls-betting-markets-go-haywire-as-hiking-panic-mounts">surges above 3% again. </a>



Now Read: 



<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/01/42925767/palantirs-nasdaq-100-hype-fades-as-stock-sinks-post-inclusion">Palantir&#8217;s Nasdaq-100 Hype Fades As Stock Sinks 15% Post-Inclusion</a></li>
</ul>



Image: Shutterstock

Analyst Color

Government

Macro Economic Events

Regulations

Federal Reserve

US Labor Market Smashes Expectations, Wall Street Erases Post-Election Rally As Interest Rate Anxiety Grows: This Week In The Markets

The past week was packed with significant events that could potentially shape the future of tech, politics, and entertainment. From the Supreme Court hearing arguments on the potential TikTok ban to Google&#8217;s hefty donation to Trump&#8217;s inauguration, here&#8217;s a recap of the top stories.



Supreme Court Hears TikTok Arguments



The U.S. Supreme Court heard oral arguments on Friday regarding legislation that could ban TikTok, owned by&nbsp;ByteDance, in the United States in nine days. Last year, Congress passed a law requiring ByteDance to sell TikTok or face a ban in the U.S. ByteDance has since filed a lawsuit to block the law, and the case is now in the hands of the Supreme Court.



<a href="https://www.benzinga.com/25/01/42919029/supreme-court-hears-tiktok-oral-arguments">Read the full article here.</a>



John Fetterman Accepts Trump Invitation



Pennsylvania Sen. John Fetterman will become the first Democrat to join the slew of politicians and billionaire businesspeople who are making the trek to meet with President-elect Donald Trump at his Mar-a-Lago home in Palm Beach, Florida. Fetterman stated that he accepted the invitation to meet Trump as he is the senator for all Pennsylvanians, not just Democrats.



<a href="https://www.benzinga.com/markets/cannabis/25/01/42913566/john-fetterman-first-democratic-lawmaker-to-accept-trump-invitation-to-mar-a-lago">Read the full article here.</a>



Jimmy Carter&#8217;s Funeral



President Jimmy Carter&#8217;s solemn state funeral in Washington, D.C.'s National Cathedral brought together five living U.S. presidents, including President-elect Donald Trump. The first eulogy was given by one of Carter&#8217;s grandsons, Joshua Carter, who praised his grandfather&#8217;s lifelong pursuit of peace and justice.



<a href="https://www.benzinga.com/markets/cannabis/25/01/42901026/jimmy-carters-funeral-5-living-presidents-attend-family-colleagues-share-warm-humorous-stories">Read the full article here.</a>



Google Donates $1 Million To Trump Inauguration



Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)&nbsp;owned search giant Google has announced a $1 million donation to Trump&#8217;s inauguration fund, joining the ranks of Meta Platforms, Amazon.com, Ford Motor Company, and more. Several tech billionaires including Apple CEO Tim Cook and OpenAI CEO Sam Altman have also announced $1 million donations.



<a href="https://www.benzinga.com/tech/25/01/42898021/google-donates-1-million-to-trump-inauguration-plans-youtube-livestream-pleased-to-support">Read the full article here.</a>



Amazon To Pay $40 Million For Melania Trump Documentary



Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)&nbsp;is reportedly investing $40 million in a documentary about Melania Trump, directed by Brett Ratner. The deal also includes a follow-up docuseries, marking Ratner's return to filmmaking after a hiatus since 2018.



<a href="https://www.benzinga.com/25/01/42931869/jeff-bezos-amazon-to-pay-40-million-for-melania-trump-documentary-report">Read the full article here.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/25/01/42931896/jeff-bezos-500-million-superyacht-koru-steals-the-show-at-st-barts-annual-festival-where-173-billionaires-turned-up-with-their-yachts">Jeff Bezos&#8217; $500 Million Superyacht Koru Steals The Show At St. Bart&#8217;s Annual Festival Where 173 Billionaires Turned Up With Their Yachts</a></li>
</ul>



Photo courtesy: Shutterstock



This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Politics

GOOGL

Supreme Court Hears Tiktok Case, Google Donates To Trump Inauguration, And More: This Week In Politics

President-elect Donald Trump&#8216;s estranged niece Mary Trump has weighed in on her uncle&#8217;s <a href="https://www.benzinga.com/news/24/12/42497190/mary-trump-slams-uncle-over-anti-birthright-citizenship-stance-a-deeply-ignorant-cruel-man">controversial comments</a> on the continuing wildfires in southern California.



What Happened: At least 16 people have died in the Eaton and Palisades fires, according to the latest update from the&nbsp;County of Los Angeles Medical Examiner. The fires have also led to the evacuation of more than 153,000 residents.



According to reports, the Pacific Palisades fire, fueled by strong winds and dry conditions, is anticipated to continue burning until it reaches the Pacific Ocean.&nbsp;Los Angeles Fire Chief Kristin&nbsp;Crowley&nbsp;cautioned, &#8220;We are absolutely not out&nbsp;of danger yet.&#8221;



Amid the devastation, Mary Trump shared her thoughts on her uncle&#8217;s response and handling of the crisis. The President-elect&#8217;s social media posts blaming Gov. Gavin Newsom (D-Calif.) for the fires have been dismissed as &#8220;pure fiction&#8221; by Newsom&#8217;s office.



"One of the best and most beautiful parts of the United States of America is burning down to the ground. It's ashes, and Gavin Newscum should resign. This is all his fault!!!" Trump wrote in one post.



Also Read: <a href="https://www.benzinga.com/news/24/12/42713956/mary-trump-reveals-the-worst-christmas-gift-she-ever-received-from-uncle-donald-trump">Mary Trump Reveals the Worst Christmas Gift She Ever Received from Uncle Donald Trump</a>



&#8220;Unfortunately for us, one of the people who has been most vocal, and least useful, during this ongoing tragedy — Donald Trump — is terrible in a crisis. By that, I don't mean he doesn't handle crises well (although this is undoubtedly true), I mean he exploits tragedies for his own ends, making things worse for the rest of us in the process,&#8221; Mary Trump wrote in a blog post.



&#8220;I do know what Donald gets out of stirring up chaos and division during those times when we need unity. Division benefits him, even if, or maybe especially if it&#8217;s at the expense of the rest of us. Division wears us down, even as it leaves him unaltered. I actually think it energizes him,&#8221; she added. 



&#8220;One of the most frustrating things about all of this is that none of it is surprising — Donald is no longer an unknown quantity. After four years of his first administration, we are all too familiar with the sort of chaos he brings to already fraught situations. He has, in fact, a long, sordid history of making things worse,&#8221; Mary Trump wrote.



&#8220;Remember, it was during Covid that Donald found the most effective way to tear us apart. Because what was true then, what has always been true, and will always be true is that if Donald Trump can in any way profit from your death, he will facilitate it, and then he will ignore the fact that you died,&#8221; she said. 



Victims of the wildfires have been encouraged to register for assistance through the FEMA website, app, or hotline. Several organizations, such as the California Fire Foundation and the American Red Cross of Greater Los Angeles, are offering support to those affected.



Read Next



<a href="https://www.benzinga.com/news/24/12/42635765/mary-trumps-warning-donald-trumps-second-term-already-is-more-dangerous-than-the-first" target="_blank" rel="noreferrer noopener">Mary Trump's Warning: Donald Trump's Second Term ‘Already Is More Dangerous Than the First'</a>

Mary Trump Blasts Uncle Over Wildfire Comments: 'If Donald Trump Can Profit From Your Death, He Will Facilitate It'

Whales have amassed almost 1 billion Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) within a span of 48 hours.



What Happened:&nbsp;Cryptocurrency trader and analyst Ali&nbsp;Martinez shared data on X indicating a substantial upswing in Dogecoin purchases. This buying frenzy was triggered by Musk&#8217;s recent remarks concerning the potential future slump of cryptocurrency prices.



The data shared by Martinez unveiled that Dogecoin whales have swiftly purchased over 470 million DOGE in the past two days. This surge in buying activity was concurrent with a 20% plunge in the price of Dogecoin, from $0.39620 to a low of $0.31648.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Whales bought over 470 million <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> in the last 48 hours! <a href="https://t.co/d7oPvnfB6o">pic.twitter.com/d7oPvnfB6o</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1877847135108092102?ref_src=twsrc%5Etfw">January 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Despite the intense accumulation, the data also revealed significant DOGE sales. 



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42804970/dogecoin-to-hit-one-dollar-milestone-this-year-says-this-analyst">Dogecoin To Hit One Dollar Milestone This Year, Says This Analyst</a>



On Friday, cryptocurrency tracker Whale Alert reported two large Dogecoin transactions sent to the U.S.-based crypto exchange Coinbase, presumably for sale.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f6a8; &#x1f6a8; 112,670,012 <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> (37,990,922 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw">#Coinbase</a><a href="https://t.co/dO3pSbOMBa">https://t.co/dO3pSbOMBa</a>&mdash; Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1877672095313707118?ref_src=twsrc%5Etfw">January 10, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Elon Musk recently hinted on social media that&nbsp;the price of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Dogecoin, and other cryptocurrencies could significantly plummet&nbsp;in the next two years&nbsp;if dollar inflation is resolved. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If dollar inflation is solved, the price in dollars to buy cryptocurrency will actually drop, other things being equal. What matters is the ratio of dollars to crypto.&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1876567714594169283?ref_src=twsrc%5Etfw">January 7, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



This statement was made in the context of his role in&nbsp;the U.S. Department of Government&nbsp;Efficiency, which is focused on reducing excessive government spending.



Why It Matters: Despite the significant drop in Dogecoin&#8217;s price, these large investors are accumulating more of the cryptocurrency, perhaps anticipating a future rise in value.



However, the data also shows that there have been substantial sales of DOGE. This indicates that while some investors are bullish on Dogecoin&#8217;s future, others are taking advantage of the current market situation to cash out. 



As Musk&#8217;s role in&nbsp;the U.S. Department of Government&nbsp;Efficiency continues to evolve, his comments and actions will likely continue to sway the cryptocurrency market.



Read Next



<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42497156/dogecoin-poised-for-85-surge-as-whales-accumulate-130-billion-doge" target="_blank" rel="noreferrer noopener">Dogecoin Poised For 85% Surge As Whales Accumulate 130 Billion DOGE</a>

$DOGE

Dogecoin Whales Accumulate Nearly 1 Billion DOGE in Two Days After Elon Musk's Crypto Forecast

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