Officials from the United States and Israel have refuted claims of approving the sale of Israeli spyware firm Paragon to Florida-based AE Industrial Partners. Reports of the transaction surfaced in Israeli media, suggesting both governments had greenlit the deal, but US and Israeli representatives dismissed these assertions.
The White House clarified that the sale was a private transaction with no formal US approval, while Israel‘s Defence Ministry stated it was still evaluating the deal. Paragon, linked to former Israeli intelligence officers, has faced scrutiny in the US market, including a paused $2 million contract with ICE.
The alleged acquisition has drawn attention due to Paragon’s ties to national security and controversial surveillance software. Both AE and Paragon have not yet commented on the situation.
The United States has charged Rostislav Panev, a Russian-Israeli dual citizen, for his alleged role as a developer for the Lockbit ransomware group, which authorities describe as one of the world’s most destructive cybercrime operations. Panev, arrested in Israel in August, awaits extradition.
Lockbit, active since 2019, targeted over 2,500 victims across 120 countries, including critical infrastructure and businesses, extorting $500 million. Recent arrests, guilty pleas, and international law enforcement efforts have significantly disrupted the group’s activities.
Experts say law enforcement actions have tarnished Lockbit’s reputation, reducing its attacks and deterring affiliates. Authorities emphasise the importance of holding cybercriminals accountable.
As President-elect Donald Trump prepares to take office, the cryptocurrency industry is urging him to swiftly implement his promised overhaul of crypto policies through executive orders. Industry officials are pushing for measures such as creating a bitcoin stockpile, ensuring crypto firms have access to banking services, and establishing a crypto advisory council. They hope these actions will come within the first 100 days of Trump’s presidency, with some anticipating an order on his first day in office, January 20.
During his campaign, Trump positioned himself as a “crypto president” and promised to support the industry’s growth. In contrast to the regulatory crackdowns under President Joe Biden, which focused on concerns about crime and volatility in the sector, Trump’s team is aiming to reverse course, encouraging innovation and positioning the US as a global leader in cryptocurrency. His crypto policy team, including crypto-friendly figures like Securities and Exchange Commission chair Paul Atkins and White House crypto czar David Sacks, is already taking shape.
One of the most discussed proposals is the creation of a strategic Bitcoin reserve, a plan Trump first mentioned in July. Some in the industry, like the Bitcoin Policy Institute, have even drafted potential executive orders for this purpose, suggesting the Treasury Secretary could spend $21 billion over a year to amass the reserve. However, analysts are divided on whether this can be achieved via executive orders or will require congressional action.
Trump is also expected to address the ongoing challenges that crypto firms face in accessing banking services, as many institutions avoid working with them due to regulatory concerns. While an executive order could signal a shift in policy, some executives caution that it may not have the legal force to immediately change regulations, as federal banking authorities are independent.
Google has proposed changes to its agreements with companies like Apple to address a US antitrust ruling against its dominance in online search. The tech giant suggested making its distribution deals non-exclusive and allowing annual reviews for developers who set Google as the default search engine.
The company urged caution against drastic measures such as selling its Chrome browser or unbundling Android features, arguing that such remedies could stifle innovation in a rapidly evolving AI landscape. Judge Amit Mehta previously found Google’s agreements gave it an unfair advantage, particularly through deals requiring Android manufacturers to pre-install Google search to access its Play Store.
Revenue-sharing deals, which are vital to smaller developers like Mozilla, would remain under Google’s plan. Critics, including DuckDuckGo, argue the proposal fails to restore competition and largely maintains the status quo. Apple reportedly earned $20 billion from its agreement with Google in 2022, underlining the financial stakes of these deals.
An April trial will determine if broader remedies are necessary to boost innovation and competition in search and artificial intelligence. The US Department of Justice, along with several states, is seeking measures to curb Google’s dominance, including restrictions on its payments for default search placement and licensing of its search technology to rivals.
China has enacted new regulations asserting state ownership over rare earth materials, critical for semiconductor production, with a rule effective from October 1. Additionally, on December 3, the Ministry of Commerce announced a ban on the export of dual-use items such as gallium, germanium, and antimony to the US. These moves are expected to impact industries reliant on these materials, especially solar cell production and semiconductor manufacturing.
As the world’s largest supplier of rare earths, China has long dominated the market due to its lax environmental regulations, which allow for large-scale extraction and refining. However, with many countries looking to reduce their dependency on China, the long-term effectiveness of these export restrictions may diminish. Nations like the US and Australia are expanding their rare earth production lines, and efforts to recycle rare earth materials are also gaining traction.
Despite these efforts, challenges remain in replicating China’s refining capabilities, as many countries are limited by technical and environmental obstacles. Notably, the US has partnered with Australia’s Lynas Corporation to build a rare earth extraction facility, aiming to strengthen its supply chain.
The future of the rare earth market may shift toward the development of substitute materials, although creating viable replacements is a time-consuming process. In this ongoing battle, China has already secured patents for some high-performance materials that could serve as alternatives, indicating that the competition could soon turn to technological innovation and patent rights.
President-elect Donald Trump hinted at allowing TikTok to continue operating in the US, at least temporarily, citing the platform’s significant role in his presidential campaign. Speaking to conservative supporters in Phoenix, Arizona, Trump shared that his campaign content had garnered billions of views on TikTok, describing it as a “beautiful” success that made him reconsider the app’s future.
TikTok’s parent company, ByteDance, has faced pressure from US lawmakers to divest the app over national security concerns, with allegations that Chinese control of TikTok poses risks to American data. The US Supreme Court is set to decide on the matter, as ByteDance challenges a law that could force divestment. Without a favourable ruling or compliance with the law, TikTok could face a US ban by January 19, just before Trump takes office.
Trump’s openness to TikTok contrasts with bipartisan support for stricter measures against the app. While the Justice Department argues that Chinese ties to TikTok remain a security threat, TikTok counters that its user data and operations are managed within the US, with storage handled by Oracle and moderation decisions made domestically. Despite ongoing legal battles, Trump’s remarks and a recent meeting with TikTok’s CEO suggest he sees potential in maintaining the platform’s presence in the US market.
According to a report by Nikkei Asia, Japan’s competition watchdog, the Japan Fair Trade Commission (JFTC), is expected to find Google guilty of violating the country’s antitrust laws. The JFTC is reportedly preparing to issue a cease-and-desist order, directing Google to halt its monopolistic practices. The investigation, which began last October, focuses on Google’s dominance in web search services.
Google has yet to comment on the allegations, and the JFTC has also not responded to requests for a statement. This investigation follows similar antitrust actions in Europe and other major economies, where concerns have been raised about Google’s market power. The company’s Chrome browser, which is the most widely used globally, plays a central role in its advertising business by providing valuable user data.
This development comes amid increasing scrutiny of Google’s practices. In the US, the Department of Justice has argued that Google should be forced to divest Chrome and be banned from re-entering the browser market for five years as part of efforts to address its search engine monopoly.
Data analytics firm Palantir Technologies and defence tech company Anduril Industries are leading efforts to form a consortium of technology companies to bid jointly for US government contracts, according to a report from the Financial Times. The group is expected to include SpaceX, OpenAI, Scale AI, autonomous shipbuilder Saronic, and other key players, with formal agreements anticipated as early as January.
The consortium aims to reshape the defence contracting landscape by combining cutting-edge technologies from some of Silicon Valley’s most innovative firms. A member involved in the initiative described it as a move toward creating “a new generation of defence contractors.” This collective effort seeks to enhance the efficiency of supplying advanced defence systems, leveraging technologies like AI, autonomous vehicles, and other innovations.
The initiative aligns with President-elect Donald Trump’s push for greater government efficiency, spearheaded in part by Elon Musk, who has been outspoken about reforming Pentagon spending priorities. Musk and others have criticised traditional defence programs, such as Lockheed Martin’s F-35 fighter jet, advocating instead for the development of cost-effective, AI-driven drones, missiles, and submarines.
With these partnerships, the consortium hopes to challenge the dominance of established defence contractors like Boeing, Northrop Grumman, and Lockheed Martin, offering a modernised approach to defence technology and procurement in the US.
Unexplained drone sightings across New Jersey have led the Federal Aviation Administration (FAA) to impose a temporary ban on drone flights over critical infrastructure in 22 towns, including Jersey City, Elizabeth, and Camden. The restriction, effective until 17 January, limits drone activity within one nautical mile up to 400 feet in affected areas. Officials cite ‘special security reasons’ for the measures, even warning of potential use of deadly force against threatening unmanned aircraft.
The US FAA first implemented similar restrictions in late November around specific sites, but the recent expansion reflects growing concern. While a joint statement from the FAA, FBI, and Department of Homeland Security reassures that the drones do not present an immediate national security risk, authorities remain tight-lipped about their origin. Many sightings have been attributed to commercial or hobbyist drones, law enforcement aircraft, and even misidentified stars.
Despite these reassurances, public anxiety persists, fuelled by weeks of speculation and conspiracy theories in the New York City metro area. Lawmakers are pressing for new regulations to improve drone tracking and accountability, as officials scramble to address the unease surrounding this enigmatic aerial phenomenon.
Despite the incoming administration of Donald Trump, the US shift towards renewable energy is expected to continue, according to Mitsubishi UFJ Financial Group’s (MUFG) Americas CEO, Kevin Cronin. While Trump’s policies may favour fossil fuels, Cronin emphasised that renewable energy projects, which take years to plan and build, remain integral to the bank’s strategy regardless of political changes. MUFG, Japan’s largest banking group, remains committed to financing these long-term projects.
The bank’s position has been bolstered by President Joe Biden’s Inflation Reduction Act, which supports infrastructure and renewable investments. However, the real growth opportunity now lies in the booming demand for energy from data centres, driven by AI. Data centre capacity is expected to double by 2030, making reliable energy — both renewable and fossil-based — critical for future expansion.
MUFG has maintained its lead in project finance for 14 consecutive years and is adapting to state-level variations in energy policy. Since selling its retail banking arm in 2022, MUFG has focused on wholesale banking and technology-related sectors, even hiring talent from the collapsed Silicon Valley Bank to strengthen its position. The US market remains a cornerstone of MUFG’s global profits, contributing nearly 30% of its earnings in the last fiscal year.
