Finance

Trudeau Faces Political Crisis as Finance Minister Steps Down

Canadian Prime Minister Justin Trudeau is facing the most significant challenge of his political career after Finance Minister Chrystia Freeland, one of his most influential and loyal allies, resigned from her post on Monday.

The unexpected resignation has raised doubts about how much longer the Prime Minister — whose approval ratings have plummeted amid growing concerns over inflation and immigration — can hold onto his position, as his government scrambles to navigate the looming challenges posed by incoming U.S. President-elect Donald Trump.

On Truth Social, Trump commented, “The Great State of Canada is stunned as the Finance Minister resigns — or was fired — by Governor Justin Trudeau. Her behavior was completely toxic and not at all conducive to striking deals that benefit the very unhappy citizens of Canada. She will not be missed!!!”

Trump had previously taken aim at Freeland, further escalating tensions between the two leaders.

TECH

Big Tech Looks Worldwide for Cheap Energy to Fuel Growth

At the southern tip of Malaysia lies Johor, a state famous for its beaches and dense jungle. But Johor is now home to a new booming industry: data centers fueling generative AI. Microsoft alone has invested over $2 billion in building such facilities. For tech giants, electricity has become as vital as oil. A cutting-edge AI data center can require up to 90 megawatts of power—enough to supply tens of thousands of American homes. As AI applications expand, from chatbots to virtual agents, demand for energy is growing rapidly. One industry group is even planning for data centers that will require 10 gigawatts—over 100 times the power consumption of the largest data centers today. Securing cheap, reliable electricity has become just as crucial for tech companies as access to silicon chips.

By 2025, major tech firms will be scouring the globe for kilowatts, megawatts, and gigawatts. In boardrooms, conversations about server capacity are increasingly being replaced by discussions on grid capacity and the future of energy. Countries with abundant, low-cost energy are seizing this opportunity, crafting policies to attract AI investments with the same urgency once reserved for manufacturing.

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CRYPTO

Bitcoin Surges to $107,000 as Market Eyes Potential US Strategic Reserve Move

Bitcoin's record-breaking rally surpassed $107,000 after U.S. President-elect Donald Trump reaffirmed his intention to establish a U.S. Bitcoin strategic reserve, similar to the country's strategic oil reserve, fueling optimism among crypto enthusiasts.

The world's leading cryptocurrency reached a session high of $107,148, before settling at $106,877, marking a 5.43% increase from late Friday. Meanwhile, Ethereum (Ether), the second-largest digital currency, rose 1.85%, reaching $3,975.70.