Kevin Hassett: the Pick?
Kevin Hassett’s potential appointment as the next Federal Reserve Chair is widely viewed as market-friendly. His policy leaning toward earlier and more decisive rate cuts, combined with a pro-growth stance aligned with the administration’s agenda, could support risk assets and ease financial conditions. Investors see in Hassett a candidate who may prioritize growth momentum while maintaining a pragmatic approach to inflation dynamics.
Key Background & Experience:
- PhD in Economics from the University of Pennsylvania
- Senior economist at the Federal Reserve Board earlier in his career
- Chair of the Council of Economic Advisers (2017-2019) and Director of the National Economic Council (2025)
Nvidia-Google AI Chip Rivalry
Meta Platforms Inc. is in talks to spend billions on Google’s AI chips adding to a monthslong share rally as the search giant has made the case it can rival Nvidia as a leader in AI technology
- A deal would signal growing momentum for Google’s chips and long-term potential to challenge Nvidia’s market dominance, after the company earlier agreed to supply up to 1 million chips to Anthropic PBC
- Meta is in discussions to use the Google chips — known as tensor processing units, or TPUs — in data centers in 2027, and may rent chips from Google’s cloud division next year
Source: Bloomberg
Ozempic fails, Amycretin shows promise
A pill version of Novo Nordisk A/S’s Ozempic failed to slow the progression of Alzheimer’s disease in a pair of studies
- Patients who took the medicine didn’t see their disease progress more slowly based on a cognitive assessment, and Novo will discontinue a planned one-year extension of the studies
- The failure removes one of the last remaining hopes for a near-term revival under new CEO Mike Doustdar, and Novo’s stock closed down at the lowest level in more than four years
- With regard to the treatment of type 2 diabetes, Novo’s next-generation diabetes shot, called amycretin, lowered patients’ blood sugar and helped them lose weight in a study
- After losing its lead in the booming obesity market to US rival Eli Lilly, Novo needs next-generation drugs to improve its competitive position. Amycretin is a crucial piece of that puzzle
Reshaping UK Media
DMGT, the owner of the Daily Mail, has reached a £500 million agreement to acquire Telegraph Media Group, pending regulatory approval. The transaction would create one of the UK’s most influential right-leaning media clusters, with implications for political narratives, advertising markets, and sector competition. The deal also raises questions around media plurality and potential regulatory intervention in 2026.
Key facts about the two titles:
- The Daily Telegraph – Leading UK broadsheet with strong conservative readership; influential in political and business coverage
- The Sunday Telegraph – Sister title with premium long-form journalism and high engagement among policy-minded audiences
- Daily Mail – Mass-market mid-market newspaper with one of the highest digital and print reaches in the UK
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