A week of trade spats and courtroom brawls saw the Trump crew hog the front pages again. From ten-figure lawsuits aimed at the big banks to the looming threat of new taxes on anything coming over the border, the line where the law meets the till stayed messy and thin. And billionnaire Jeff Bezos is sending his own satellite network into space to join Elon Musk in a lofty game of Space Monopoly.
All the top moves, shakes, and red-hot takes from Azzet's editorial team are right here in your weekly business wrap every Friday (23 January, 2026).
Here is what actually happened this week:
Monday
The week kicked off with more legal grandstanding as Elon Musk went after $134 billion from OpenAI and Microsoft.
Back home, Donald Trump’s own books showed a $100 million bet on bonds, while Scott Bessent, the man picked for the Treasury, told everyone the top court won't stop the President's new trade taxes.
- World News: Iran told the U.S. to stay out of it as deaths from local riots topped 5,000.
- Trade: European bosses stood by Denmark as the U.S. rattled the tax sabre.
- Markets: China’s growth hit its lowest point since 2023, though Aussie nest eggs grew by 35% over the last three years.
- Rules: The White House wants to let folks raid their retirement pots for a house deposit, asked for $1 billion for a "Board of Peace", and the UK slashed pension pay-outs for those living abroad.
Tuesday
While the rich met in Davos to fret about how poor everyone else is, OpenAI bragged about making more money than ever.
In Australia, the biggest power plant in the land got two more years to keep the lights on, even as the lack of money experts got worse.
- The Fed: Jerome Powell got ready to argue in court about whether the President can just fire him.
- States: Greenland’s boss said he won't be bullied by U.S. threats, and Putin was asked to join the "Board of Peace".
- Gold: Fear in the air sent gold prices higher early in the day.
- Grief: A fast train in Spain crashed and killed 40 people, while Valentino, the dressmaker, died at 93.
Wednesday
Safe-haven buyers pushed gold past US$4,850 for a new high as trade wars loomed.
A Danish pension fund started dumping U.S. debt because they don't trust the new taxes, while the bond market took a beating over White House spending plans.
- Big Tech: Netflix swapped its deal with Warner for hard cash, though its shares dipped despite the win.
- Planes: United Airlines made more than expected even with the U.S. government shut.
- Warnings: Trump talked of a crash if his taxes are paid back, while Aussie super pots made 8.8% last year.
- Earth: Gas prices jumped in a cold snap, and the UN said the world is running out of water.
Thursday
The battle of the billionaires heated up as Jeff Bezos launched a new satellite web to take a bite out of Elon Musk’s business.
Down under, the jobless rate fell to 4.1%, showing the Aussie worker is still slogging on despite the gloom.
- Banks: Jamie Dimon at JPMorgan warned that capping interest on cards would be a mess for the banks.
- Courts: The top judges seemed unsure if the President can sack Fed bosses just because he feels like it.
- Housing: U.S. home sales fell in December as there weren't enough roofs for sale.
- War: Kyiv went dark as Russian strikes hit the power grid again.
- Digging: Governments are now funding their own mines to get the rocks they need.
Friday
The week wound up with a massive fight as Donald Trump sued JPMorgan and Jamie Dimon for more than $5 billion.
In the markets, Intel shares fell 4% on a grim forecast, while GE Aerospace showed it still has plenty in the tank.
- Growth: The U.S. economy did a bit better than first thought as firms made more cash.
- TV: Paramount refused to pay up in its ongoing scrap with Warner.
- Shops: P&G shares went up, but Abbott sales took a 10% dive after its baby food business hit the skids.
- Big Bank: CBA is still the top brand in Australia, though those with money in the game aren't sold on where it goes from here.
