Markets rally.

Stocks in Asia are set to follow the US higher after a rally in tech shares. The S&P 500 closed at the highest level in more than a month, and the Nasdaq 100 rose 2% to the highest level since September, led by an 11% gain for Tesla. Equities in Australia rose as trading resumed, and futures in Japan and Hong Kong gained. India’s equity market also reopens after a holiday while mainland China remains closed until Monday.

Companies fight back against premium increases for crucial insurance

Insurance rates are up for cars, homes and commercial property. Some of the biggest increases have been for policies that protect a company’s directors and top executives. Some large businesses have struck back. Insurers have raised premiums by 100% or more in recent years as demand for so-called directors and officers policies surged due to a wave of newly public companies and mounting lawsuits with large payouts. Higher prices helped insurers to improve their bottom lines, alongside restrictions on coverage amounts and higher deductibles. (The Wall Street Journal | Jan 26)

Jittery investors turn to cash in hunt for yield

The dash for cash on Wall Street is back on. Investors have added about $135 billion to global money-market funds over the past four weeks, according to EPFR data through Jan. 18. That is the best stretch since the four-week period ended May 2020, when those funds logged roughly $175 billion in net inflows. (The Wall Street Journal | Jan 25)

Wall Street ABS trades face SEC scrutiny for conflicts

Wall Street firms that help issue asset-backed securities wouldn’t be able to bet against those products under a plan from the US Securities and Exchange Commission. The SEC on Wednesday voted unanimously to propose new conflicts-of-interest regulations for investment banks and others involved in securitizations. The new restrictions wouldn’t cover market making or trades to hedge against risk. (Bloomberg Markets | Jan 25)

Fed and the markets in standoff on rate hikes

Sooner or later, either Wall Street or the Federal Reserve has to blink. Nearly a year into the Fed’s drive to quash inflation by hiking interest rates at a blistering pace, investors still don’t seem to fully believe what the Fed warns is coming next: Higher rates through the end of the year, which could sharply raise unemployment and slow growth. Wall Street has a more sanguine view. (The Associated Press | Jan 24) see also US economy cools like the Fed wants, still risks a stall in 2023 (Bloomberg Economics | Jan 26)

U.S. economy slows, but Europe's picks up, raising hopes world will avoid recession

Two of the world’s largest economies moved in opposite directions at the start of the year, with US businesses reporting further declines in activity in January while the eurozone saw a modest pickup. The pace of contraction in US firms slowed in January, a possible signal that the economy could be bottoming out, thanks to slowing inflation and resilient demand. Combined, the surveys point to a global economy that looks likely to slow this year but could avoid recession. (The Wall Street Journal | Jan 24) see also US fund managers turn away from China and look to Europe for growth (Financial Times | Jan 23)

This CNN screenshot shows a website hosted by Hive Ransomware seized by the FBI. The website, in Russian, says, "The Federal Bureau of Investigation seized this site as part of a coordinated law enforcement action taken against Hive Ransomware."

DOJ disrupts Hive ransomware variant

The Department of Justice announced its months-long disruption campaign against the Hive ransomware group that has targeted more than 1,500 victims in more than 80 countries around the world, including hospitals, school districts, financial firms, and critical infrastructure. Since late July 2022, the FBI has penetrated Hive’s computer networks, captured its decryption keys, and offered them to victims worldwide, preventing victims from having to pay $130 million in ransom demanded.

— Department of Justice

Davos 2023: Global bank chiefs get FBI cybersecurity update

Global bank and exchange chiefs got insight on cybersecurity and resilience from the US Federal Bureau of Investigation's director during a private session in Davos last week. Christopher Wray addressed top bankers at the meeting at the World Economic Forum (WEF) annual gathering of industry leaders, five sources who attended the meeting said. The financial services executives also compared notes on economic risks, financial stability, and sustainability.

— Reuters

Assessing the likelihood of a ‘catastrophic’ cyberattack

A “catastrophic cyber event” is likely in the next two years, according to the World Economic Forum’s Global Cybersecurity Outlook 2023, released last week at the annual WEF meeting in Davos. The survey found that 86% of business leaders expected such an event and 93% of cybersecurity leaders did.

— WSJ Pro Cybersecurity

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Mo Mountain Mutts, a dog walking business in Skagway, Alaska, has gone viral on social media for its beloved dog bus. Back row, from left: Yarrow and Otis. Front row, from left: Gumbo and Slade. Photo: Mo Mountain Mutts

These dogs ride a bus like humans ‘and now the internet is in love’

About 40 dogs are part of a play group organized by Mo Mountain Mutts — a local dog walking and training business, run by husband-and-wife duo, Mo and Lee Thompson. The Thompsons lead off-leash pack walks up to three times a day, but what has captured the attention of people worldwide are hilarious videos showing how they collect their canine clients: A recent TikTok video of several dogs confidently boarding the bus on their own with big wagging tails was viewed more than 50 million times.

— The Washington Post

Things that make you go 'hmmm...'

Pasta manufacturer Sfoglini is teaming up with The Sporkful Podcast creator and host Dan Pashman to add three likely-new-to-you pasta shapes to your pantry. The two existing shapes hitting the brand’s roster are quattrotini and vesuvio — fun to look at, fun to wrangle on your fork, and fun to eat. The third is a new shape designed by Pashman himself, called cascatelli.

— Food & Wine

Ants can 'sniff out' cancer in urine, scientists find

Several types of cancer have been found to alter the smell of urine, but for the first time experts have found ants have the ability to detect the scent. In their findings, published in the journal Proceedings of the Royal Society B: Biological Sciences, they said these insects could be used as a cost-effective way to identify cancers in patients. Study author Professor Patrizia d'Ettorre, of Sorbonne Paris Nord University, said: "They are easy to train, learn fast, are very efficient and are not expensive to keep."

— Sky News