News from January 16, 2025 at 2 AM

Israel and Hamas have agreed to a Gaza ceasefire and hostage release deal following 15 months of conflict, mediated by Qatar and the US. Qatari Prime Minister Sheikh Mohammed bin Abdul Rahman Al Thani stated the agreement would take effect on Sunday, pending Israeli cabinet approval. US President Joe Biden highlighted the deal would halt fighting in Gaza, provide much-needed humanitarian aid to Palestinian civilians, and reunite hostages with their families. Israeli Prime Minister Benjamin Netanyahu thanked Biden for promoting the deal, while Hamas leader Khalil al-Hayya attributed it to Palestinian resilience. Despite ongoing ground conflicts in Gaza, both Palestinians and Israeli hostages' families celebrated the news. Since October 7, 2023, over 46,700 people have been killed in Gaza, with most of the population displaced. The first phase of the deal involves exchanging 33 hostages, including women, children, and the elderly, for Palestinian prisoners in Israeli jails, with Israeli forces withdrawing from densely populated areas of Gaza.

South Korean President Yoon Suk-yeol, who was impeached and suspended after declaring martial law and facing insurrection charges, was arrested by about 1,000 police officers on January 15th after refusing summonses three times. Yoon claimed the investigation was unconstitutional and released a manuscript mentioning 'election fraud'. He refused to testify and was taken to Seoul Detention Center. The Public Prosecutor's Office plans to decide within 48 hours whether to apply for a detention warrant, with formal charges expected early next month. This unprecedented intertwining of judicial and political events has garnered widespread attention.

A tragic incident at an illegal gold mine in South Africa has resulted in the rescue of over 200 survivors and the recovery of at least 78 bodies since Monday, following a court order for the government to facilitate rescue operations. Police stated they would send a rescue cage down the mine on Thursday to ensure no one remained trapped. The standoff began in November when the government ordered the arrest of any miner who surfaced. On Tuesday, an angry crowd blamed the government for the deaths and demanded the police and mines ministers leave. Over 1,500 miners had surfaced before the rescue began, but some remained underground due to fear of arrest or coercion by gangs. The Mine Rescue Service confirmed they would send a cage down but have not yet called off the operation. Many survivors, who had been without food and water since November, are now receiving medical care and face charges of illegal mining.

US President-elect Donald Trump's nominee for secretary of state, Marco Rubio, stated during his Senate confirmation hearing that resolving the conflict in Ukraine will require concessions from all sides. He emphasized that the United States should officially aim to end the conflict in Ukraine and hopes that a ceasefire could be the starting point. Rubio noted that achieving a ceasefire and ultimately a peace settlement will require balanced leverage for all parties involved. He also mentioned that both Russia and Ukraine will need to make concessions, with the United States offering support. Trump nominated Rubio for secretary of state on November 13, and Senate Democrats have indicated their support. Earlier, Russian President Vladimir Putin outlined conditions for talks with Ukraine, including the withdrawal of Ukrainian troops from Donbass and Novorossiya, Kiev abandoning its NATO aspirations, lifting all Western sanctions against Moscow, and Ukraine committing to a non-aligned and nuclear-free status.

According to The New York Times, the U.S. Securities and Exchange Commission (SEC) sued Tesla founder Elon Musk in a federal court in Washington, D.C., alleging he deliberately delayed disclosing his stake in the social platform X (formerly known as Twitter) during its acquisition. Court documents show that Musk began buying Twitter shares in late January 2022, surpassing the 5% disclosure threshold by mid-March, but did not disclose until early April. Musk's failure to disclose his purchases led to a 27% surge in Twitter's stock price, saving him at least $150 million. Musk and his lawyer responded that he did nothing wrong, accusing the SEC of years of harassment. The lawsuit was quietly announced, with analysts suggesting it may be related to the upcoming change in the Trump administration. Such cases typically end in settlements.

Ireland's two dominant centre-right parties reached a coalition deal with independent lawmakers on Wednesday, securing enough support to govern for another five years and continue their high spending economic policy. The incoming government pledges to run budget surpluses, boost public sector investment, increase pension payments, reduce childcare costs, and cut the VAT rate for food and catering services from 13.5% to 9%. The housing plan aims to streamline processes, increase zoned land, and revise tax rebates for first-time homebuyers. Immigration policies will enhance border security and protect migrant rights. Climate goals include a 51% reduction in greenhouse gas emissions by 2030 and net-zero emissions by 2050. The foreign policy supports banning trade with Israeli settlements in occupied Palestinian territories. The government also aims to lift the passenger cap at Dublin airport soon and will allocate an additional 1 billion euros to cross-border projects with Northern Ireland over the next decade.

Princess Catherine of Wales announced on social media that she is in remission from cancer, expressing her relief and focus on recovery. She previously received treatment at the Royal Marsden Hospital in west London, where she thanked staff and encouraged patients during a visit. This is the first confirmation of her remission. Last March, she disclosed her cancer diagnosis and completed chemotherapy in September. Despite finishing treatment, Catherine noted the challenges of returning to normal life. Her visit marked her first significant public engagement since treatment ended, and she has become a joint royal patron of the hospital.

A 53-year-old French interior designer, Anne, was scammed out of €830,000 by individuals posing as actor Brad Pitt. Believing she was in a relationship with Pitt for a year and a half, Anne faced widespread mockery after the scam was revealed, leading French broadcaster TF1 to withdraw a related program. Anne clarified she was not 'crazy or a moron' but had been deceived. A representative for Pitt condemned the scammers for exploiting fans' strong connections with celebrities. Anne's ordeal began in February 2023 after downloading Instagram, where she was contacted by someone claiming to be Pitt's mother. The scammers demanded money for various reasons, including Pitt's supposed kidney cancer treatment. Anne lost her life's savings and attempted suicide three times. An investigation is currently underway.

Kyoto, Japan, announced on January 14 plans to increase its accommodation tax in response to local residents' dissatisfaction with the excessive number of tourists. Complaints include tourists harassing geishas, causing traffic congestion, and littering. The proposed tax is tiered based on room rates, with taxes for rooms priced between 20,000 to 50,000 yen doubling to 1,000 yen per person per night, and those over 100,000 yen seeing a tenfold increase to 10,000 yen. The new tax requires city council approval and is expected to take effect in March next year.

The US Commerce Department announced on January 15 the imposition of new export controls on biotechnology equipment and related technology due to national security concerns. This move aims to prevent China from using US technology to enhance its military capabilities and design new weapons through artificial intelligence. The new controls cover high-parameter flow cytometers and certain mass spectrometry equipment, requiring a US license for export to China and other countries. Previously, the US had restricted exports of AI chips and technology to China. US lawmakers have called for protecting personal health and genetic information and reducing reliance on China. The Chinese Embassy in Washington stated its opposition to any country's development, possession, or use of biological weapons.

Russian Foreign Minister Sergey Lavrov stated on Tuesday that the Comprehensive Partnership Agreement to be signed by the Russian and Iranian presidents in Moscow is not directed against any country. On Monday, the Kremlin announced that Russian President Vladimir Putin and Iranian President Masoud Pezeshkian will sign the Comprehensive Strategic Partnership Agreement following negotiations on January 17. Lavrov, speaking at a press conference on the overview of Russian diplomacy in 2024, emphasized that the agreement aims to enhance the capabilities of Russia and Iran globally, promote economic development, address social issues, and ensure reliable defense capabilities.

In November 2024, the election of Donald Trump and the return of Republican power in Washington have begun to impact the business world. Goldman Sachs CEO David Solomon stated on a Wednesday conference call that other CEOs are more confident about the economy and their businesses since the presidential election. Solomon noted a significant boost in CEO confidence, increased dealmaking appetite, and an improved regulatory environment. The Chicago Fed Survey of Economic Conditions and the NFIB Small Business Optimism Index reflect a positive outlook. However, JPMorgan Chase's earnings call revealed that this optimism has not yet translated into loan growth. Stocks initially surged after Trump's win but later saw some gains erode due to rising interest rates. Trump is viewed as more business-friendly than outgoing President Joe Biden, but his proposed tariffs have caused concerns. Goldman Sachs reported better-than-expected fourth-quarter results, with profits doubling year over year.

The Biden administration announced on Wednesday that it would forgive $4.5 billion in student debt for 261,000 borrowers who attended the now-defunct Ashford University. These borrowers studied at the for-profit, largely online institution between March 1, 2009, and April 30, 2020. The California Department of Justice requested the loan cancellation for federal student loan borrowers based on evidence gathered during its successful lawsuit against Ashford University and its parent company, Zovio Inc. California accused the university of deceiving students with false promises and misinformation about costs and career outcomes. In 2022, the California Department of Justice secured a penalty of over $20 million against Zovio and Ashford. Ashford's recruiters misled students about their ability to work as teachers, social workers, nurses, or drug and alcohol counselors, despite the university lacking necessary state approval or accreditation. Students were also misled about the cost of attendance, debt accumulation, and degree completion time. The Education Department noted that 90% of Ashford students never graduated, and those who did often faced large debts and low incomes. The University of Arizona acquired Ashford University in 2020, and Zovio approved a plan to go out of business in late 2022. Since taking office, Biden has forgiven $183.6 billion in debt for over 5 million federal student loan borrowers.