1. U.S. Launches Large-Scale Deportation Action
2. Los Angeles Wildfire Donations Surpass $200 Million
3. Netflix User Growth Hits Record
4. Samsung and Google Collaborate on AR Glasses
5. JPMorgan Plans Major Revamp of Madison Avenue Skyscraper
6. Commercial Space Station Developer Voyager Tech Files for IPO
7. New Los Angeles Wildfire Disrupts Vital Transportation Links
1. U.S. Launches Large-Scale Deportation Action
On the first day of President Trump’s tenure, he announced the launch of a large-scale deportation initiative, granting U.S. Homeland Security the authority to search schools and churches. Trump vowed to begin cracking down on the 11 million immigrants who entered the U.S. illegally, with a focus on those with criminal backgrounds.
Tom Homan, the border czar appointed by Trump, told Fox News that search-and-arrest operations have already begun across the country. On Tuesday, Immigration and Customs Enforcement (ICE) apprehended 308 repeat offenders.
Trump declared a state of emergency along the U.S. southern border.
Source: Bloomberg – NYC to LA Brace for Deportations as Trump Lets Immigration Agents Raid Churches
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2. Los Angeles Wildfire Donations Surpass $200 Million
A spokesperson for crowdfunding platform GoFundMe revealed that over $200 million has been raised for victims of the Los Angeles wildfires, surpassing the $65 million raised for the Maui Island fire in Hawaii in 2023.
Los Angeles, with its large and affluent population, has seen significant celebrity involvement in donations. Tickets for a charity concert featuring numerous artists will go on sale today.
As of now, over 15,000 buildings have been destroyed in Los Angeles County, and the death toll has reached 28. The damage to commercial and residential properties is estimated to be between $35 billion and $45 billion.
President Trump plans to visit the affected areas in Los Angeles on January 23.
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3. Netflix User Growth Hits Record
Streaming giant Netflix reported on Tuesday that it added 18.9 million users in the fourth quarter, breaking its previous record of 15 million set in Q1 2020, and exceeding Wall Street’s expectations by more than double. The total user base has now surpassed 300 million.
Netflix’s stock surged by as much as 15% this morning, marking its largest single-day increase since October 2023.
To shift investors’ focus to the company’s revenue and profitability, Netflix announced it will no longer disclose quarterly user growth figures.
For the fourth quarter, Netflix’s revenue rose by 16% to $10.2 billion, with expectations for even faster growth in the year ahead.
Source: Bloomberg – Netflix Shares Soar to Record After Huge Gain in Subscribers
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4. Samsung and Google Collaborate on AR Glasses
Executives from Samsung’s mobile division revealed that the company plans to partner with Google to enter the augmented reality (AR) glasses market.
In December, Samsung announced its collaboration with Google to develop the Android XR operating system. Although the release date for the product remains uncertain, Samsung emphasized that ensuring quality will be a priority.
Tech giants like Meta, Apple, and Google are all vying to create groundbreaking AR glasses, though high R&D costs remain a significant hurdle.
Last year, Samsung launched the Galaxy Ring, a wearable health device that tracks sleep and stress.
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5. JPMorgan Plans Major Revamp of Madison Avenue Skyscraper
Sources revealed that JPMorgan Chase plans to renovate its old headquarters building at 383 Madison Avenue, hiring Foster + Partners to oversee the project. Renovations will begin after the completion of their new headquarters.
A JPMorgan spokesperson said that the company is evaluating long-term real estate options in Manhattan, where 17,500 employees are based.
The new building at 270 Park Avenue can accommodate 10,000 employees, but since construction began, JPMorgan has hired an additional 60,000 people.
383 Madison Avenue was once the headquarters of Bear Stearns and was acquired by JPMorgan during the financial crisis.
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6. Commercial Space Station Developer Voyager Tech Files for IPO
According to the Wall Street Journal, Voyager Technologies, a commercial space station developer, has filed for an IPO with the U.S. SEC, including the number of shares and price range.
One of Voyager’s departments is developing the Starlab space station, which will orbit in low Earth orbit. In 2021, NASA provided Voyager with $160 million in funding to develop Starlab. In 2023, Airbus joined the project.
Voyager announced in 2024 that it will use SpaceX rockets to launch the space station.
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7. New Los Angeles Wildfire Disrupts Vital Transportation Links
A new wildfire broke out in northern Los Angeles around November 11, quickly burning 3,400 acres and closing two exits on the vital I-5 highway.
The Hughes Fire, located about 45 miles north of the Palisades, is currently not a threat to lives, though winds are gusting up to 37 miles per hour.
Los Angeles County authorities have stated they will employ aircraft to combat the new wildfire as quickly as possible.
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This content is sourced from Financial Times, Bloomberg, and The Real Deal, among other financial news outlets.