MORNING NEWS

Intel swung to a loss for the fourth quarter on Thursday and forecasted further losses in the first quarter as the company spent heavily ramping up production of its latest chips while contending with an inventory shortage. The company reported a net loss of $333 million during the last three months of the year, worse than the $294 million loss expected by analysts, according to FactSet.

Stocks rallied after President Trump said that he had reached a framework of a Greenland deal with NATO that would take away the need for new tariffs on Europe. "Based upon a very productive meeting that I have had with the Secretary General of NATO, Mark Rutte, we have formed the framework of a future deal with respect to Greenland," Trump posted on Truth Social. Based on the framework, "I will not be imposing the Tariffs that were scheduled to go into effect on February 1st," Trump added.

Netflix reported strong fourth-quarter results, shortly after sweetening its $72 billion deal for Warner Bros. Discovery’s studios and the HBO Max streaming service. Netflix increased revenue and profit from the prior-year quarter and beat analyst forecasts, with popular series such as the final season of “Stranger Things” boosting viewership. The company attributed its growth to increases in subscribers, prices and advertising revenue.

Beazley shares hit an all-time high after Zurich Insurance Group said it submitted a plan to buy the London-listed insurance company for 7.67 billion pounds ($10.27 billion). Beazley shares were up 335 pence, or 41%, at 11.55 pounds in European trading. Zurich said Monday that it was offering to buy the company for 1,280 pence a share, a 56% premium to its closing price of 820 pence on Friday.

European leaders racing to respond to the threat of U.S. tariffs for opposing President Trump’s plan to take control of Greenland have an arsenal of options, including trade retaliation, reducing defense ties and a “bazooka” to defend against economic coercion. Individually, the nations Trump has threatened with economic measures can do little about his 10% tariffs, but as a unit they could raise the cost of using the levies to extract concessions on Greenland, a semiautonomous Danish territory.

Mitsubishi Corp. has agreed to acquire Aethon's shale gas assets in Texas and Louisiana for $5.2 billion, its biggest acquisition ever. The Japanese trading house said Friday that Aethon's natural gas is currently sold in the southern U.S. market and that the company is considering exporting part of the production as liquefied natural gas to Asia, including Japan, and Europe.

Richemont has reported that sales in its jewelry division continued to drive revenue growth at the end of the year, which is encouraging news for the luxury sector, which hopes to gain momentum in the coming year. The Swiss group, which, in addition to its star jewelers Cartier and Van Cleef & Arpels, owns high-end watchmakers such as Vacheron Constantin and fashion brands such as Chloe, recorded sales growth of 11% at constant exchange rates to reach €6.4 billion ($7.45 billion) in the third quarter of its fiscal year, which ended in December. This figure is slightly higher than analysts' expectations, who had forecast sales of €6.28 billion for the quarter, according to a consensus established by FactSet prior to publication, and marks a slight acceleration in the pace of growth compared to the first half of the year.

Nvidia must meet new security requirements before sending its H200 artificial-intelligence chips to China, the Trump administration said. Under the rules, Nvidia must make sure there is sufficient supply of AI chips in the U.S., and its customers have to demonstrate adequate security procedures before semiconductors are shipped, the Commerce Department’s Bureau of Industry and Security said in a rule published Tuesday.

Construction chemicals and adhesives manufacturer Sika suffered a decline in sales in the 2025 financial year. Negative currency effects and the weak Chinese construction market slowed growth. In 2025, sales dropped by 4.8 percent to 11.20 billion Swiss francs, the company announced on Tuesday. The strong Swiss franc was the main factor contributing to this: Sika estimates the negative currency effect at 5.4 percent. Analysts had expected slightly higher sales of CHF 11.29 billion on average. Acquisitions contributed a further 1.0 percent to growth, Sika added. Organically, the company thus shrank by 0.4 percent last year. Sika has been unable to expand on its own since the third quarter of 2025.

European stock futures fell, as U.S. futures declined after Fed Chair Jerome Powell said the Department of Justice had subpoenaed the Federal Reserve on Friday and threatened a criminal indictment against him over cost overruns at the agency's headquarters. In a statement late Sunday, Powell said the accusations that he misled Congress over the cost of the renovations were a pretext for President Donald Trump to pressure the Fed to cut interest rates, and that the investigation threatens the Fed's independence. Earnings season is also set to start this week, with quarterly reports expected from big U.S. banks such as Goldman Sachs, JPMorgan Chase, Bank of America and Morgan Stanley.