WEEKLY RECAP: Trump legal battles, US arms deal, and EV industry growth
The first week of 2025 featured a mix of economic, political, and business news, along with a tragic incident. In Spain, inflation exceeded expectations.
In the political sphere, tensions heightened as US President-elect Donald Trump faced legal challenges, with a New York Supreme Court judge rejecting his attempt to dismiss the hush money case. Trump responded by accusing the judge of corruption. Meanwhile, the US State Department notified Congress of an $8 billion arms deal with Israel, covering fighter jet munitions, attack helicopters, and artillery shells.
Tragedy struck in New Orleans when a pickup truck crashed into a crowd on Bourbon Street, leaving one person dead and several others feared to have died. The incident occurred on Wednesday, with police confirming the fatality and ongoing investigations.
In business news, Microsoft made headlines with plans to invest $80 billion in AI data centers in 2025. The electric vehicle (EV) sector also saw strong performances, with companies like Rivian and Ford reporting impressive delivery results. Tesla's Q4 deliveries were slightly below expectations, but its Cybertruck made headlines after exploding near Trump Tower in Las Vegas. Lastly, US President Joe Biden officially blocked the US Steel-Nippon Steel deal, marking a significant move in global corporate mergers.