Good morning. Donald Trump fails to overturn his hush money conviction. AI’s power appetite has no limits. And ski resorts are feeling the heat. Listen to the day’s top stories.
Market data may be delayed depending on provider agreements.
Donald Trump’s request to have his conviction in the Stormy Daniels hush money case tossed aside on presidential immunity grounds was rejected by a New York judge. Trump’s lawyers had argued his conviction must be dismissed as a result of his election victory. It’s unclear if the case will proceed to sentencing. Despite the president-elect’s legal wrangling, it’s full steam ahead for his transition team, which is laying the groundwork for deporting millions of undocumented migrants.
Russian general Igor Kirillov. Source: AP Photo
Ukraine claimed responsibility for the assassination of Russia’s high-ranking general Igor Kirillov in Moscow, a person familiar said, a rare example of a targeted killing of a top military official since the war began. Earlier, Trump said Ukraine needs to reach a deal to end the Russian invasion and downplayed the value of occupied land, in the latest signal he may push for a settlement that codifies Russian territorial gains.
China will keep its growthtarget of about 5% for next year and raise the budget deficit to 4% of GDP— the widest since 1994—Reuters reported. Premier Li Qiang urged government officials to implement key economic tasks for the coming year swiftly as top officials keep trying to spur consumption without rolling out a massive stimulus package just yet. Meanwhile, the confidence of foreign CEOs in China is on the decline.
It’s just nonstop for Bitcoin with the virtual currency reaching another record, topping $107,000. Tokens are heading into 2025 on a tear as the US, for the first time, will have a president who’s directly endorsed cryptocurrencies—and even introduced his own token. But the industry is now in a position to weaken financial rules that might protect consumers from the next crypto crash.
Canadian Prime Minister Justin Trudeau and then-Finance Minister Chrystia Freeland in April. Photographer: David Kawai/Bloomberg
Governments are being forced to find a fiscal policy to help deal with a second Trump term and investors won’t be impressed if they don’t get their act together, John Authers writes. The latest experiences of Brazil and Canada are a case in point.
The partially snowless slope at the William F. Rogers Ski Area at the Blue Hills, Massachusetts, in January. Photographer: John Tlumacki/The Boston Globe/Getty Images
Ski resorts are feeling the heat as winter loses its chill. The number of days at or below 0°C (32°F) is dwindling in the Northern Hemisphere, according to the nonprofit Climate Central, impacting companies that rely on the chill, and the snow.
Like getting this newsletter? Subscribe to Bloomberg.com for unlimited access to trusted, data-driven journalism and subscriber-only insights.
Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. Learn more.
You received this message because you are subscribed to Bloomberg's Morning Briefing: Americas newsletter. If a friend forwarded you this message, sign up here to get it in your inbox.
