At least seven people have been killed and around ten others injured in a stampede during the Maha Kumbh Mela in Prayagraj, India. The panic broke out on Wednesday night near a cordoned-off area as millions of devotees were taking a holy dip. Prime Minister Narendra Modi expressed his condolences to the relatives. Opposition parties blame the authorities for the chaos and criticize “mismanagement” and “VIP culture”. A similar disaster had already occurred at the festival in 2013, resulting in 36 deaths.
The Trump administration is planning to drastically downsize the federal administration and is offering 2 million civilian federal employees financial incentives to resign. The “Deferred Resignation Program” allows them to remain paid until September 30, but without having to work in presence. All civilian employees except those in the security and immigration sectors are affected. Democrats and trade unions have sharply criticized the programme and warned of pressure on employees. Trump has also imposed a hiring freeze and plans to restructure or cut many jobs.
A federal court has temporarily blocked Donald Trump's executive order to freeze hundreds of billions of dollars in federal funds shortly before it was due to come into force. The measure would have affected thousands of funding programs, including healthcare and infrastructure. Democrats criticize the freeze as unconstitutional and warn of massive consequences. The Trump administration defends it as a reform measure to reduce government spending. Despite the blockade, it remains unclear which programs could be affected in the long term.
Alibaba has released its new AI model “Qwen 2.5-Max” and claims that it outperforms “DeepSeek-V3”, “GPT-4o” and “Llama-3.1-405B”. The release on the first day of the Chinese New Year underlines the growing pressure from the rapid success of “DeepSeek”. Since the launch of “DeepSeek-R1” on January 20th, Chinese competitors such as “ByteDance” have also updated their AI models. DeepSeek's advances are also causing unrest in the US, as they are challenging existing business models in the AI industry.
International investors are rethinking their strategy for China. While the focus used to be on long-term growth opportunities, investors are now increasingly focusing on short-term gains. Despite initial euphoria over Beijing's announced stimulus measures, uncertainty remains high. Hedge funds are retreating after quick gains, and the CSI300 index is back at the level of ten years ago. Macroeconomic uncertainties, Trump's China policy and Beijing's unclear strategy are making long-term investments more difficult. While some investors continue to see China as a source of targeted profits, the risk remains too high for many.
US President Donald Trump has asked Elon Musk to bring two NASA astronauts back from the ISS earlier than planned. Musk explained that SpaceX would make this possible. Astronauts Butch Wilmore and Suni Williams were originally due to return in a SpaceX capsule in March. They had flown to the ISS in Boeing's Starliner last year, but technical problems made a return in the Starliner too risky. Trump's request comes as a surprise to NASA and could complicate the ISS staffing situation. It remains unclear whether the return flight schedule will actually change.
The US Food and Drug Administration (FDA) has approved Novo Nordisk's drug Ozempic for reducing the risk of kidney failure and cardiovascular death in diabetic patients with chronic kidney disease (CKD). Ozempic, a GLP-1 receptor agonist, showed a 24% reduction in the risk of death from CKD and heart problems in studies. This makes it the first GLP-1 treatment for diabetes patients with CKD. Novo Nordisk is also testing GLP-1 drugs for other applications, including Alzheimer's disease and fatty liver disease.
The M23 rebels have captured the airport of Goma in eastern DR Congo, disrupting a key supply route for humanitarian aid. The offensive left many dead in the streets. In the capital Kinshasa, several embassies, including those of the USA, France and Rwanda, were attacked. The US embassy ordered the evacuation of staff. There are increasing reports of looting, rape and attacks on hospitals. The United Nations warns of a possible regional conflict, similar to the wars of 1996-2003.
Hundreds of thousands of Palestinians return to Gaza City to find only rubble. Meanwhile, talks on the next negotiation phase of the ceasefire are underway in Cairo. More hostages and prisoners are to be exchanged. Negotiations on a complete Israeli withdrawal will begin next week.
In the east of the Democratic Republic of Congo, M23 rebels, supported by Rwandan troops, have largely taken control of the city of Goma. Hundreds of thousands of people are on the run. The UN is calling for urgent international action to stop the violence and protect the civilian population. More than a hundred people have been reported dead and thousands injured in the fighting. The humanitarian situation is worsening due to restricted access for aid organizations and the threat of health crises such as cholera. The UN is trying to find diplomatic solutions, while protests against Western states are emerging in Kinshasa.
Ahead of the 2025 federal elections, the CDU/CSU is tightening its migration policy, demanding, among other things, asylum refoulement and the revocation of citizenship for criminals. The SPD, Greens and Left Party reject the proposal, while the FDP and AfD partially agree. CDU leader Merz is under pressure as he accepts AfD approval for the proposals, although he rejects cooperation. Migration remains a key election issue.
Following a dispute over deportations, two Colombian planes carrying 201 migrants landed in Bogotá. President Petro had initially turned away US planes in order to treat the migrants with dignity. Trump threatened to impose tariffs, but then agreed to a deal in which Colombia would accept all deportations.
With an ageing population, China is relying on the so-called silver economy to boost economic growth. The state is promoting companies in areas such as care for the elderly and healthcare services. However, high costs and the tradition of family care are slowing down growth, and robots like Xiao Bing are still a thing of the future.
President Zelensky is planning to modernize the Ukrainian armed forces, including the formation of army corps and new combat brigades. He is demanding stronger security guarantees from the USA. Russia reports drone attacks on oil and energy facilities in western regions, without significant damage. The EU wants to reduce imports from Russia and Belarus by increasing tariffs. Putin rejects direct negotiations with Zelensky and questions his legitimacy. A factory building in Kharkiv was damaged in an airstrike.
Italian prosecutors are investigating Prime Minister Giorgia Meloni over the release of Libyan militia leader Osama Almasri Najeem, who is wanted by the International Criminal Court (ICC) for war crimes. Other ministers are also under suspicion. Najeem was released after his arrest in Turin and taken to Tripoli on an Italian plane. The government has been criticized for its cooperation with the Libyan coast guard and the human rights situation in Libya.
The planned increased military cooperation between Armenia and NATO could lead to a proxy war between Armenia and Azerbaijan. Azerbaijan, which has close relations with Turkey (a NATO member), could try to resolve territorial conflicts before NATO arms deliveries begin. A new conflict would destabilize both Armenia and Azerbaijan and benefit foreign policy actors such as France, Turkey and the US. While the Western powers pursue their geopolitical goals, Armenia will probably only pay the price for the political mistakes of its leadership.
Reform Party in first place in the UK for the first time: Nigel Farage's right-wing Reform Party is experiencing a historic moment: for the first time, it is leading as the strongest force in an election poll. Another survey also shows a record approval rating of 27% - never before has the party been so high.
California Secretary of State Shirley Weber has launched a campaign for a referendum to achieve the state's independence from the USA. The initiative, called “Calexit”, aims to declare a “vote of no confidence” in the US in 2028. California, the most populous and economically strongest state, could become an independent nation with the support of around half a million voters. Analysts see Trump's expansionism, including the annexation of Canada and Mexico, as an attempt to divert attention from the USA's internal conflicts.
Polish President Andrzej Duda is calling for the Nord Stream pipelines to be completely dismantled in order to permanently prevent the resumption of Russian gas supplies to Europe. In an interview with the BBC, he stated that Germany and other Western countries should never receive Russian gas again, even in the event of peace in Ukraine.
According to recent reports, Russia has covered the costs of its military operation in Ukraine by acquiring valuable resources. It now controls around half of Ukraine's natural resources, including large deposits of coal, oil and lithium. Experts estimate the value of these resources at up to 15 trillion dollars.
Donald Trump is considering the USA leaving NATO and joining the BRICS states.
Both Jordan and Egypt have decisively rejected a proposal by US President Donald J. Trump to temporarily or permanently relocate tens of thousands of Palestinians from the Gaza Strip to neighboring Arab countries.
France has spoken to Denmark about sending troops to Greenland. This step is a reaction to repeated threats by US President Donald Trump to annex the Danish island, according to French Foreign Minister Jean-Noël Barrot.
OPEC+ has not responded to Trump's call for a reduction in oil prices. Despite a meeting of the ministers, the plan to increase oil production from April remains unchanged. The upcoming meeting on February 3 will not bring any changes either. It remains to be seen how Trump will react.
The cost-cutting measures at Mercedes-Benz could result in the loss of 20,000 jobs. By 2027, €5 billion should be saved, half of which already this year.
Tesla: takes legal action against EU tariffs on Chinese e-cars. Tesla is not alone with the lawsuit that the company filed with the European Criminal Court yesterday: BMW, BYD and import associations also took legal action against the planned tariffs. (HB)
- DAX: Slightly up yesterday (MM)
- BDI: Expects third year of recession in a row (TAG)
- SAP business figures: Not only winners in Walldorf (TAG)
- Degag: Real estate group files for insolvency (HB)
- Freenet: Gets new boss from Trivago (MM)
- Trump: Calls DeepSeek a “wake-up call” for US AI economy (RT)
- China: Global investors unimpressed by PBOC warnings on Chinese bonds (FT)
- Hong Kong: Real estate crisis catches up with banks (BBG)
- NVIDIA: Sees DeepSeek progress as proof of need for more AI chips (RT)
- Scott Bessent: Confirmed as US Treasury Secretary (CNBC)
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