Trump threatens new tariffs against the EU and China. On February 1, 25% tariffs could follow for Canada and Mexico if they do not take tougher action against the smuggling of fentanyl. An investigation by April 1 is to assess trade deficits and unfair practices. Mexico and Canada reacted cautiously, but emphasized their sovereignty and rejected a renegotiation of the trade agreement. US farmers worry about potential trade disruption. Trump's approach seems more strategic to exert pressure and consolidate legal foundations.
South Korea will remove the concrete embankment at Muan Airport after the fatal plane crash on December 29, 2024, which is said to have exacerbated the accident. The plane collided with the structure after a crash landing, causing it to explode. This killed 179 people. The government is planning reforms to antenna foundations at several airports and an extension of safety zones behind runways to 240 meters. The former president of Korea Airports Corporation, Son Chang-wan, was found dead, but there was no connection to the investigation into the crash. Muan Airport will remain closed until April 18.
In Turkey, nine people, including the hotel owner, have been arrested over a deadly fire at the Grand Kartal Hotel in the Kartalkaya ski resort. The fire, which broke out in the restaurant area early this morning, claimed 76 lives and injured dozens. 45 victims have already been identified, while DNA tests are underway for the others. Survivors reported missing fire alarms and chaotic escape attempts through smoke-filled corridors. President Erdogan declared a day of national mourning. The hotel expressed deep sorrow and assured full cooperation with the investigation.
A rare winter storm has hit the southern US, breaking historic snow records. Houston experienced up to 10 cm of snow, while New Orleans surpassed an 1895 record with just under 25 cm. Mobile, Alabama, also reported its highest snowfall in 144 years with over 15 cm. The extreme cold and snow affected schools, flights and roads. Thousands of people in Texas were temporarily without power. Authorities are warning of the risk of frost and advising people to stay at home. The storm continues to move through Mississippi, Georgia and Florida, while the rest of the USA is experiencing an extreme cold spell.
Alexander Lukashenko, President of Belarus for 31 years, is seeking another term in office. While the opposition has criticized the election as a farce, Lukashenko has shown initial attempts at rapprochement with the West, for example by releasing some members of the opposition. With a possible end to the war in Ukraine, he could aim to ease Western sanctions in order to reduce Belarus' dependence on Russia.
Ukrainian President Volodymyr Zelensky declared at the World Economic Forum in Davos that at least 200,000 European peacekeepers would be needed to prevent new Russian attacks after a possible ceasefire. He emphasized that this was only part of the security guarantees that Ukraine needed. He also called on Europe to take on a stronger role in global security policy and spoke out in favor of higher defense spending. Selenskyj is working on a meeting with US President Donald Trump, who has promised a swift end to the war in Ukraine.
Canada stands united against the punitive tariffs threatened by US President Donald Trump. Prime Minister Justin Trudeau announced that Canada would respond decisively, in line with the “dollar for dollar” principle. Planned counter-tariffs will target products from Republican-governed US states such as orange juice, whiskey and Harley-Davidson motorcycles. Trudeau emphasized that possible measures could be implemented in several stages. In addition to initial tariffs on US products worth 40 billion dollars, further steps could stop Canada's oil and gas exports as well as electricity supplies to the USA. Despite the threat of escalation, Trudeau is appealing to Trump's interest in seeing Canada as a reliable trading partner and continues to hope for de-escalation.
“The EU is ready to negotiate with the USA, but will defend its interests”, - Ursula von der Leyen. It looks like Israel won't be leaving Syria anytime soon, as the IDF has been spotted building a military base in the Quneitra area of southern Syria.
The IDF is sending heavy equipment into the West Bank and has sealed off the city of Jenin on all sides in anticipation of a large-scale military operation called “Iron Wall”. IDF launches large-scale operation in Jenin; infantry troops, including special forces, enter the city, supported by airstrikes. N12 News reports that the military campaign is expected to last for days.
Pakistani authorities have announced that the country's security forces have launched an operation to eliminate armed Islamist groups in the troubled province of Khyber Pakhtunkhwa on the border with Afghanistan. This is the first large-scale military operation in this region for years.
Trump appoints crypto-friendly Mark Uyeda as acting SEC chairman On June 2, 2026, Paul Atkins is to take over the SEC.
RT DE reports: Trump threatens Russia with “destruction compared to Hitler's Germany” if Putin doesn't agree to his Ukraine deal And Trump reportedly threatened Zelensky that his Ukraine would cease to exist if he didn't agree to his deal.
Tensions are escalating in Romania: Following the exclusion of Eurosceptic candidate Călin Georgescu from the presidential race and the annulment of the election results, massive protests are strengthening his position. Polls show that Georgescu, a critic of the EU, has a good chance of winning the next election. This could significantly weaken Brussels' influence in Romania and jeopardize plans to escalate the Transnistria conflict. The situation highlights the growing rift between the EU and parts of its member states.
Renault: Appoints new CFO: In the background are the takeover talks between Nissan and Honda - as Renault holds ~40% of Nissan. In recent weeks, there have been repeated disagreements at the French car manufacturer as to what should happen with the Nissan shares. (HB)
Görtz: files for insolvency - and seeks investors: The shoe retailer had already filed for insolvency ~1.5 years ago, but was rescued by investor Bolko Kissling at the time. That probably didn't quite work - the 160 stores (and 1,800 employees) are once again facing the end. (HB)
A generational change is imminent at the US bank - and yesterday the financial institution introduced several new managers, both in the core business (investment banking) and in the fixed income and equities departments. The Financial Times has the summary. (FT)
Shortly before his inauguration, Donald Trump launched the meaningless “$TRUMP” coin on the market to personally profit from the crypto hype. Now the value of the meme coin is collapsing again. And even representatives of the crypto industry are criticizing the US president's greed. (RT)
- DAX: Hardly influenced by US politics so far (TGS)
- DIW: Research institute fears that new recession in Germany is very likely due to Trump (NTV)
- Ursula von der Leyen: EU Commission President warns Trump of trade war (MM)
- Savings banks: Warn of recession due to looming US tariffs (HB)
- Görtz: Hamburg shoe retailer insolvent again (ZON)
- US markets: Rise after Trump deregulations (WSJ)
- China capital flight: Record outflows put yuan under pressure (BBG)
- UK buybacks: British companies overtake US groups in share buybacks (FT)
- Department of Government Efficiency: Musk ministry established by decree to streamline US administration (WH)
- Hedge fund fees: Since the 2000s, nearly half of profits siphoned off by fees (WSJ)
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