December 18 Global Financial Headlines: Micron Projects Strong Revenue, Amazon Restructures AI Unit, and U.S. Plans New Sanctions on Russia

Key global financial headlines from overnight and this morning include:

1. **U.S. Prepares New Sanctions on Russia if Putin Rejects Ukraine Peace Deal** Sources familiar with the matter revealed that the U.S. is ready to impose new sanctions on Russia's energy sector if President Vladimir Putin refuses a Ukraine peace agreement, intensifying pressure on Moscow. Anonymous insiders involved in internal discussions noted that options under consideration include targeting vessels in the "shadow tanker fleet" transporting Russian crude and traders facilitating such transactions. Some sources indicated the measures could be announced as early as this week.

2. **Dalio’s Additional Donation and Dell’s $6.25B Pledge: A Look at Trump’s Child Savings Accounts** The White House announced updates to "Trump Accounts" on Wednesday, including an additional donation from hedge fund billionaire Ray Dalio and his wife Barbara to fund child savings accounts. Companies like Bank of New York Mellon and BlackRock recently pledged matching contributions for employees’ Trump Accounts to encourage early wealth-building for children. These accounts, established under the "Great Benefit Act" passed in July, will be available to families by mid-2026, per updates on trumpaccounts.gov. The IRS and Treasury released supplemental guidelines earlier this month.

3. **Micron Technology Projects Strong Revenue as AI Hardware Boosts Chip Demand** Micron Technology, the largest U.S. memory chipmaker, issued an upbeat revenue forecast, sending shares up ~5% in after-hours trading. Its Q1 revenue is projected between $18.3B and $19.1B, far exceeding analysts’ $14.4B estimate. Adjusted EPS is expected at $8.22–$8.62, surpassing the $4.71 consensus. Surging AI hardware demand has benefited tech firms like Micron, while PC memory chips face shortages as producers prioritize high-end chips for AI data centers.

4. **Amazon Restructures AI Unit, Merging Chip, Quantum Computing, and AGI Teams** Amazon.com confirmed on Wednesday that Rohit Prasad, head of its AGI (Artificial General Intelligence) division, will depart by year-end. CEO Andy Jassy announced in a blog post that AGI operations will merge into a broader new division, also housing chip R&D and quantum computing teams, led by cloud veteran Peter DeSantis. Jassy cited an AI "inflection point" as the rationale for consolidating related teams.

5. **Yellen Dismisses "Absurd" Concerns Over Hassett’s Fed Chair Potential** Treasury Secretary Janet Yellen reiterated her support for NEC Director Kevin Hassett as a Fed Chair candidate, calling worries about his qualifications "absurd." "He’s a seasoned Ph.D. economist with his own views," Yellen stated at an event. "He’d make an excellent Fed Chair like anyone else."

6. **Novartis, Roche Near U.S. Drug Pricing Deals** The White House is poised to announce pricing agreements with pharma giants Novartis and Roche, potentially as soon as Friday, easing U.S.-Swiss trade tensions post-tariff disputes. Other drugmakers may join the announcement, with details still being finalized. Pfizer and AstraZeneca recently struck similar deals, offering price cuts in exchange for tariff relief. President Trump’s summer letter to 17 pharma firms demanded cost reductions for government programs, direct sales via Trump-branded platforms, and price parity with overseas markets. In return, companies received multi-year tariff waivers and regulatory safeguards.