Head of the Russian Direct Investment Fund:

American companies are ready to replace European companies that left Russia.

Trump:

Too many people are being killed in Gaza. We have to do something about it.

Gaza has been under siege for many years, this is shameful.

Trump:

Elon Musk is a great guy, but he has so many companies he might have to leave to take care of them.

Trump:

Government efficiency efforts will continue after Musk's departure.

Trump with his new "Gold Card":

For $5 million this could be yours... it will be out in about less than 2 weeks probably. Pretty exciting, right?"

Putin's envoy Dmitriev:

We would like to work with Musk on a Mars mission.

General Timothy Haugh, NSA and Cyber Command head, was fired by Trump.

Reasons are unclear, but he was reportedly seen as slow on diversity program changes and associated with the Biden administration.

His deputy was also reassigned.

South Korean President Yoon Suk Yeol has been removed from office after the Constitutional Court upheld his impeachment for declaring unconstitutional martial law.

A new election is set within 60 days.

He also faces a criminal trial for insurrection.

Trump on Le Pen ban:

The witch hunt against Marine Le Pen is another case of European leftists using lawfare to silence opponents—now even seeking prison.

It’s the same failed playbook used against me.

Le Pen fought hard for years, and just before victory, they hit her with a minor charge.

A disgrace for France and its people. FREE MARINE LE PEN!

Donald Trump’s sweeping tariffs ignite $2.5tn rout on Wall Street

Donald Trump's announcement of sweeping new tariffs on nearly all U.S. imports caused a massive $2.5 trillion sell-off in U.S. equity markets, with the S&P 500 dropping 4.8% and the Nasdaq plunging 6%—its worst day since the COVID-19 crash.

Reactions included:

• The U.S. dollar fell sharply.
• Treasury bonds surged as investors fled to safety.
• Tech and consumer stocks, particularly Apple, were hammered (Apple lost $300bn in value).
• Oil prices fell 6.7%.
• Bank stocks dropped nearly 10% on recession fears.
• International markets (Japan, Australia) also fell

The IMF warned of global risks amid sluggish growth. US companies like Stellantis started furloughing staff due to supply chain issues. European leaders, including Macron, condemned the tariffs and hinted at retaliation, while the UK remained open to trade talks.

Source: FT

Chinese and US defense officials had their first known formal contact since Donald Trump returned to the White House, in a meeting that partially coincided with Beijing conducting large-scale military drills around Taiwan.

Military officials from the US and China held a maritime safety consultation in Shanghai on Wednesday and Thursday, according to a statement from the navy of the People’s Liberation Army.

Source: Bloomberg

The US and South Korea agreed to temporarily move US Patriot missile batteries from South Korea to the Middle East.

Source: Yonhap

US special envoy Steve Witkoff and Russian negotiator Kirill Dmitriev met in Washington to discuss a ceasefire in the Ukraine war.

The US is waiting for Dmitriev to report back to Putin before moving forward with next steps, with Dmitriev saying there is an understanding on how to finalize an agreement.

“Steve has been really focused on solutions. I think there is an understanding for how we can move to finalize the agreement, and there have been lots of discussion in that realm,” Kirill Dmitriev said.

Source: Bloomberg

Asian markets plummeted on Friday due to U.S. President Donald Trump's new tariffs.

• Tokyo's Nikkei fell 3.6%
• South Korea's Kospi fell 1.5%
• Australia's ASX 200 fell 2.1%.

Other markets such as Shanghai and Hong Kong were closed for the holidays.

Economists warn that the tariffs could fuel stagflation - slowing growth coupled with higher inflation.

With global supply chains threatened and consumer sentiment shaky, investor confidence has been severely shaken.

Source: AP

Fifteen Senate Democrats backed a pair of resolutions from Sen. Bernie Sanders (I-Vt.) to withhold billions of dollars in offensive weapons sales and other military aid to Israel.

Sanders wants to cancel the Trump administration's proposed sales of $8.8 billion in bombs and other munitions to Israel.

In addition to Sanders, Democratic Sens. Richard Durbin (Ill.), Martin Heinrich (N.M.), Mazie Hirono (Hawaii), Ben Ray Luján (N.M.), Tim Kaine (Va.), and Andy Kim (N.J.) voted in favor.

Source: Axios

The Trump administration plans to freeze $510 million in federal grants to Brown University as it reviews the school’s handling of antisemitism and its efforts to roll back diversity policies, the White House confirmed Thursday.

Brown University, however, said it has not received any formal notification of the funding freeze.

Brown is one of 60 colleges and universities under investigation for allegations of antisemitic harassment and discrimination.

Brown would be the fifth Ivy League college targeted by President Donald Trump’s administration, which is using federal money to enforce its agenda at colleges.

Source: Axios, AP

The UK is in discussions with Brazil over the potential sale of two Royal Navy amphibious assault ships—HMS Albion and HMS Bulwark—as part of cost-cutting efforts.

Despite a recent refit for HMS Bulwark, both ships are set to be decommissioned and were not expected to return to active service before their planned retirement in the 2030s.

Source: Sky News

Israeli airstrikes killed at least 100 Palestinians across the Gaza Strip on Thursday, including more than 27 people sheltering in a school, according to Palestinian health officials.

Among the dead were 14 children and five women whose bodies were recovered from the school in Gaza City’s Tuffah, Health Ministry spokesman Zaher al-Wahidi said.

He warned the death toll could rise, as many of the 70 injured were in critical condition.

Source: AP

Pentagon's success in destroying Houthi missile and drone arsenal has been largely limited.

Pentagon spent roughly $200 million in munitions against Houthis in three weeks.

US strikes against Houthis could exceed $1 billion by next week.

Source: NYT

Turkish Trade Minister:

Turkey wants to negotiate with U.S. on lifting 10% additional tariffs.

Earlier this morning, the Israeli army launched a ground operation in the Shujaiya neighborhood, northeast of Gaza City. Israel said the operation aims to expand the buffer zone along the border.