The bear case for 2026

President Donald Trump's latest diplomatic efforts in Ukraine focus on securing financial agreements as part of his peacemaking initiatives. This approach reflects his ongoing strategy to leverage dealmaking in shaping U.S. foreign policy.

Billionaire hedge fund manager Bill Ackman is preparing for a long-anticipated initial public offering (IPO) for his firm, Pershing Square Capital Management, according to a report by the Financial Times, which cited unnamed sources familiar with the situation.

Judge Leonie Brinkema expressed reluctance to mandate a forced sale of Google's advertising business in the ongoing US monopoly case, suggesting that such a dramatic action may not be easily enforceable.

Billionaire investor Bill Ackman is planning to take his hedge fund, Pershing Square, public as early as the first quarter of 2026. This move marks a significant step for Ackman, who has been a prominent figure in the investment community.

Eli Lilly has become the first pharmaceutical company to achieve a market value of $1 trillion, driven by a nearly 40% surge in its shares this year. This growth is largely attributed to the strong demand for its weight-loss and diabetes medications, particularly GLP-1 drugs.

Christine Lagarde, President of the European Central Bank, has warned that European economic growth is increasingly at risk due to a reliance on an export-dependent model that is becoming obsolete. She criticized policymakers for six years of inaction, emphasizing the urgent need for reforms to adapt to changing global dynamics.

Lawrence Summers, a prominent American economist and former Treasury Secretary, is facing significant reputational damage following the revelation of emails exchanged with Jeffrey Epstein. The correspondence has raised concerns about Summers' judgment and associations, leading to widespread criticism and scrutiny.

US officials informed the organizers of the Davos meeting that President Trump's participation in January would depend on the agenda, specifically requesting that 'woke' topics be excluded from discussions. This indicates the administration's desire to steer clear of contentious social issues during the event.