The European Central Bank (ECB) trimmed rates again, slicing its deposit rate to 3% as inflation cools and the economic outlook dims. This marks the ECB’s fourth rate cut this year, with GDP growth now forecast at a sluggish 1.1% for 2025. Interestingly, the reference in the ECB’s monetary policy statement to keep rates restricted was removed, pretty much confirming the expectation of further cuts.

Meanwhile, Stateside, the Fed is also gearing up for another rate cut in December. Whilst inflation stubbornly remains above the Fed’s 2% target, the Fed is likely giving it a pass as the market is pricing in a 97% chance of a 0.25% rate cut in December.

Omnicom and Interpublic, two ad giants, are joining forces in a $13.25 billion all-stock deal¹ deal, promising to take on digital behemoths like Google and Meta. With $25 billion in combined revenue and dreams of $750 million in annual cost savings², they’re betting big on staying relevant in a tech-driven ad world.

But Wall Street isn’t impressed—Omnicom’s shares tanked 8.8%, signalling doubts about whether this old-school duo can outmaneuver the sleek digital platforms. Interpublic, struggling with flat revenue and lost clients like Verizon, sees the merger as a lifeline, while critics see a headache of integration challenges.

To top it off, regulatory hurdles loom, with Trump’s antitrust team likely to scrutinize the deal. Can these ad titans pull it off, or is this another doomed attempt to fight the digital tide?

SpaceX has skyrocketed to a $350 billion valuation following a $1.25 billion insider share purchase, making it the world’s most valuable private startup. This deal prices SpaceX stock at $185 each—a 65% jump from a similar sale just three months ago.

The valuation reflects the company’s unmatched dominance in the aerospace sector, where it regularly launches satellites, cargo, and astronauts for NASA, the Pentagon, and commercial clients.

The surge comes as investors rally behind Elon Musk’s ventures following his appointment as head of the Department of Government Efficiency (DOGE). His AI startup, xAI also secured $6 billion in early December, underscoring investor confidence in Musk’s expanding influence. This secondary offering provides liquidity for employees and early backers, reinforcing SpaceX’s growing market clout. With a valuation rivalling top public companies, SpaceX’s status as a tech titan is now firmly cemented.

After a decade and nearly $10 billion spent, GM is scrapping its Cruise Robotaxi venture. The reason? A tough market, high costs and that infamous incident in 2023 where a Cruise car trapped a pedestrian in San Francisco. The writing’s been on the wall, with Californian regulators labelling the tech unsafe.

But GM’s not throwing in the towel on autonomous tech. It’s merging Cruise’s team into its Super Cruise program, boosting its semi-autonomous car capabilities while slashing over $1 billion in annual costs. Investors liked the pivot—GM’s stock rose 3% following the announcement.

The move mirrors an industry-wide trend. Ford already ditched its self-driving unit in 2022, and others may follow. Turns out, building a profitable robotaxi empire isn’t just about tech—it’s about timing, regulation, and a whole lot of cash.

China’s economic game plan just got a major upgrade. After 14 years of sticking to a “prudent” monetary policy, Beijing is shifting gears to a “moderately loose” stance - a phrase not seen since the 2008 Global Financial Crisis. The policy pivot comes amid sluggish domestic demand and a real estate market drowning in oversupply.

The People’s Bank of China (PBOC) plans to keep the monetary easing³ train rolling through late 2025. But here’s the tricky part: pumping more money into the economy risks devaluing the Yuan, a balancing act Beijing can’t afford to fumble.

Investors are already making their bets. Chinese 10-year government bond yields plunged to a record low of 1.78%, driven by hopes of more stimulus and a lack of appealing alternatives in stocks and real estate. Looks like China’s ready to crank up its economic engines—let’s see how far it goes.

• Pres. Yoon Su Yeol Impeached: As of Dec. 14 17:10 KST, President Yoon was impeached with a vote of 204 to 85, 3 abstained and 11 cast invalid votes.

• Tokyo Set to Introduce a Four-Day Workweek for government employees in April, in hopes that they’ll get busy amid its 16th year of population decline.

• Global EV Sales Surged, with 32% year-on-year growth in November, marking the third consecutive record high. China is driving 50% of the boom.

• >$75,000 Raised for Luigi Mangione, through a fundraiser as the internet praises him as a “modern-day Robin Hood”.

• Meta and Amazon Contribute $1 million to Trump’s Inaugural Fund, as each software behemoth attempts to curry favour with the incoming president.

• Broadcom Joins the $1 Trillion Market Cap Party, yet another AI chip supplier joined the exclusive club after its stock pop of 24% yesterday.

1. All-stock deal: A type of merger where one company acquires another by issuing its own stock as payment.

2. Annual cost savings: A reduction in a company’s operating expenses achieved within a year as a result of efficiencies, synergies, or cost-cutting measures.

3. Monetary easing: A central bank’s policy action that is aimed at stimulating economic growth, typically through cutting interest rates.

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