The Business Times

The US Federal Reserve has raised interest rates for the first time since 2023, according to ABC News. A rate hike would mark a reversal from the easing cycle of recent years and would affect borrowing costs for mortgages, credit cards and businesses across the American economy. Markets and households will be watching for signals on whether further increases are planned.

The Financial Times reports that large US companies are increasingly adopting cheaper 'open' AI models instead of costly proprietary systems. The shift reflects growing pressure to cut technology spending while still deploying generative AI across business operations. Open-weight models from providers like Meta and Mistral are gaining ground as firms weigh cost savings against performance and security concerns.

Companies are increasingly adopting open-weight AI models as a way to manage the heavy costs of proprietary technology. With licensing fees and computing expenses climbing, open-weight alternatives offer firms more control and lower spending. The trend suggests a shift in how businesses balance cutting-edge AI capabilities against budget pressures, drawing attention across the tech and finance sectors.

The Financial Times reports that SpaceX is shifting its focus away from its core space activities, in a piece subtitled 'Starbase, we have a problem'. The article suggests problems at the company's Starbase, Texas site, where its Starship rocket programme is based. Readers are debating what the reported pivot means for the company's ambitions and for Elon Musk's wider business empire.

Law firms are using artificial intelligence to speed up research, drafting and review, and their clients are starting to notice that the savings are not being passed on. The debate centers on the billable hour: if AI lets lawyers finish the same work in far less time, clients argue fees should drop, while firms defend their rates. The pushback is turning AI efficiency gains into a pricing fight across the legal industry.

Iran's Central Bank has adopted six key measures intended to facilitate foreign trade, according to Tehran Times. The steps are aimed at easing procedures for importers and exporters, though the outlet's report gives no further detail on the specific measures or their expected impact. The announcement comes amid ongoing pressure on Iran's external trade and currency position.

Reports suggest Apple's 2027 iPhone lineup could move entirely to its own in-house modem chips, cutting Qualcomm out of the devices for the first time in years. But analysts note Apple still cannot fully escape Qualcomm, since its chips and patents remain essential to the phones. The move would be the culmination of Apple's years-long effort to build its own modem technology after acquiring Intel's modem business.

SpaceX is preparing for the 14th test flight of its Starship rocket, which the company describes as a milestone mission. In parallel, NASA has updated the timing of its mission to the International Space Station, a programme closely tied to SpaceX hardware. The developments point to a busy stretch for commercial spaceflight, with Starship's progress relevant to both future lunar missions and NASA's station logistics plans.

Hong Kong Financial Secretary Paul Chan says the city can offer AI governance solutions to major economies. He argues Hong Kong's regulatory approach and experience with emerging technologies position it as a useful reference point as governments worldwide grapple with how to oversee artificial intelligence development.

Bloomberg asks whether artificial intelligence is making the traditional annual corporate budget obsolete. The discussion centres on companies tied to budgeting and financial planning, including ASAN, FERG and NAVN. As AI enables continuous forecasting and real-time planning, questions are being raised about whether once-a-year budget cycles still make sense for modern businesses and the software firms that serve them.

Lowe's Companies has started a pilot program offering drone delivery with a roughly 20-minute turnaround for customers. The home improvement retailer is testing the service as part of a broader push by retailers to speed up last-mile delivery using drones. The move puts Lowe's alongside other major chains experimenting with aerial delivery to cut delivery times and costs.

Oil-field service companies are preparing to report quarterly results that are expected to show how the war has affected their business. Investors and analysts will be watching the earnings season in the energy sector for signs of how conflict-driven costs, supply disruptions and shifting demand for drilling and oilfield services have filtered through to the bottom line of major providers.

A report in the Philippines suggests that businesses and consumers have become less pessimistic even as the war continues, indicating some easing of negative sentiment about the economic outlook. The piece, published by The Manila Times, is categorised under banking and finance coverage, though no further details are available from the headline alone.

A psychologist says business leaders are suffering under the pressures created by artificial intelligence, according to a Forbes report. Leaders face constant pressure to adopt AI tools, keep pace with rapid change, and answer to boards and employees expecting an AI strategy. The piece suggests this sustained demand is taking a measurable toll on executives' mental wellbeing.

The Athletic, the sports desk of The New York Times, has published the Premier League fixtures scheduled for 17 December 2026, part of its coverage of the 2026-27 season. The listing gives fans the match schedule for that midweek date, with supporters checking which clubs are in action and planning around the busy winter calendar.

Apple is reportedly considering a return to the commercial server market as competition over accelerator interconnect technology intensifies among chipmakers. The move would mark a notable shift for a company that exited the server business years ago, and it comes as rivals race to define standards for linking AI accelerators in data centers. Details about timing, products or partners remain scarce, and Apple has not publicly commented on the reports.

Investors and analysts are weighing whether AI-driven commerce could significantly alter Meta's business model. The discussion, picked up in financial coverage, focuses on how artificial intelligence might change the way Meta monetizes its platforms beyond digital advertising, its core revenue source. No concrete company announcement accompanies the debate, so the scale and timing of any shift remain speculative.

Times Square may soon add another Asian entertainment company to its roster of commercial tenants, according to the New York Post. The report suggests continued interest from Asian entertainment brands in securing a high-profile presence in the Manhattan landmark district, adding to the area's growing mix of international media and leisure businesses.

A new University of Connecticut report lays out a roadmap for reversing Connecticut's economic stagnation through applied artificial intelligence. It argues the state can boost growth by adopting AI across key industries and strengthening the pipeline between research, workforce training and businesses. The findings come as state leaders search for strategies to counter slow job and wage growth.

Wausau's Public Health and Safety Committee has an agenda covering an update to the city's homelessness strategy along with extensions for local businesses. The Wausau Pilot & Review reported the upcoming meeting items, which touch on how the city plans to address homelessness and whether affected businesses will get more time to comply with local rules.

The Seattle Times examines efforts to broker a truce between Washington's business community and the Democratic majority in the state legislature in Olympia. The report highlights negotiations aimed at easing tensions between lawmakers and employers over tax, labor and regulatory policy in the current session.

The Hawai'i Department of Health announced changes to its deposit beverage container program, which affects the redemption rates paid on bottles and cans returned under the state's recycling scheme. The update touches consumers, retailers and recyclers across the islands, though the department has not detailed the exact rate changes or their timing in the initial announcement.