News from February 27, 2025 at 2 PM

US President Donald Trump stated at his first cabinet meeting that the US is set to recover the $350 billion it invested in Ukraine and expects to earn more through a minerals deal with the country. Trump highlighted that the previous administration put the US at a disadvantage, but the new deal will allow the US to recoup its funds and reduce the burden on taxpayers. He previously mentioned that Ukrainian President Vladimir Zelensky could visit Washington on February 28 to sign the deal. However, Zelensky refused to sign, citing the lack of security guarantees for Kiev and his reluctance to burden future Ukrainian generations.

Israel has completed forensic tests confirming the identities of four Israeli hostages whose bodies were handed over by Hamas. On Wednesday night, Hamas transferred four coffins to the Red Cross in Gaza. The remains were identified as Shlomo Mansour, 86, Ohad Yahalomi, 50, Tsachi Idan, 50, and Itzik Elgarat, 69. This handover cleared the way for the release of over 600 Palestinian prisoners, marking the end of the first phase of the Gaza ceasefire deal. Hamas is ready for the second phase negotiations, but Israel's prime minister faces pressure to extend the current phase. Since October 7, 2023, at least 48,348 people have been killed in Gaza, with most of the population displaced multiple times. The Hostages and Missing Families Forum urges the swift return of remaining hostages.

Pope Francis's condition showed slight improvement as Catholics prayed for his health beneath St Peter's Basilica for a third night. Nuns, tourists, and student priests joined the prayers in the Vatican, led by a cardinal. The nightly gatherings began after the 88-year-old Pope's health deteriorated dramatically at the weekend. Latest updates indicate he can sit, eat normally, and do light work. Admitted to Gemelli hospital on February 14 with double-pneumonia, a CT scan shows normal lung evolution. Despite the improvement, no prognosis has been given. Vatican officials have relaxed their tone but caution the Pope is not out of danger. Speculation about his potential resignation persists, though he has said he would consider it if unable to fulfill his duties.

On February 26, 2025, U.S. President Donald Trump's top aides faced disputes at a White House cabinet meeting following billionaire Elon Musk's ultimatum requiring federal workers to list their accomplishments or risk losing their jobs. Previously, the White House believed coordination with Musk had improved, but after Trump urged Musk to be more aggressive on social media, the Office of Personnel Management sent an email to 2.3 million civil-service workers demanding detailed work reports. This move caused shockwaves in Washington, with the White House and some officials claiming they were blindsided. Musk asserted he had Trump's approval, but White House press secretary Karoline Leavitt denied the White House was caught off guard. Musk's actions revealed deep fault lines with senior White House staffers, while Trump publicly backed Musk. Approximately 100,000 workers have taken buyouts or been fired, and multiple lawsuits challenge the legitimacy of Musk and the Department of Government Efficiency.

The Santa Fe County Sheriff's Office in New Mexico, U.S., announced on Thursday that legendary actor Gene Hackman and his wife, Betsy Arakawa, were found dead at their home, aged 95 and 64 respectively. Deputies were called to a residence on Old Sunset Trail at around 1:45 p.m. on Wednesday, where they discovered the bodies of Hackman, Arakawa, and their dog. While foul play is not suspected, the exact cause of death has not been determined. Hackman, who won an Oscar for 'The French Connection,' had a distinguished career in film, including notable roles in 'The Conversation' and 'Superman.' He survived a minor bike accident in Florida in 2012.

Canada's most populous province, Ontario, heads to an early election on Thursday, with incumbent Premier Doug Ford seeking to expand his majority to counter U.S. President Donald Trump's tariff threats. Ford's Progressive Conservative Party called the election over a year early, arguing for a stronger mandate against Trump's proposed 25% tariffs. Ontario, Canada's manufacturing hub, would be severely impacted if the tariffs proceed. The province also faces healthcare and housing crises, with 2.5 million residents lacking primary care providers. Ford faced criticism for visiting Washington, D.C., during the election campaign. A recent CTV News/Nanos poll shows the Progressive Conservatives leading with 45.7% support. This unusual winter election comes as the province recovers from recent snowstorms.

A massive power outage struck Chile on Tuesday afternoon, plunging most of the country into darkness and affecting millions of people. Public transportation in some areas was disrupted, mobile phone services were interrupted, and nearly 300,000 students were unable to attend school. President Boric stated that 8 million households were affected, with 4.15 million gradually regaining power, and blamed the incident on the private company managing the grid. The government declared a state of emergency, imposed a curfew from 10 PM to 6 AM the next day, and deployed armed forces. By February 26th, 94% of the national grid had been restored. The Minister of the Interior attributed the outage to a disruption in a high-voltage transmission line in the central-northern region, ruling out cyber-attacks. The blackout impacted copper mining operations, affecting the global metal market, marking the largest such incident in 15 years.

U.S. Supreme Court Chief Justice John Roberts on January 20 paused a federal judge's order requiring President Donald Trump's administration to pay foreign aid funds to contractors and grant recipients. Roberts issued an interim order halting Washington-based U.S. District Judge Amir Ali's ruling, which had set a deadline of 11:59 p.m. that night. Roberts provided no rationale for the administrative stay, which allows the court more time to consider the administration's formal request to block Ali's decision. He asked for a response from the plaintiffs by noon on Friday. The Trump administration stated it had decided to terminate most foreign aid contracts and grants, cutting over 90% of USAID contracts and more than $58 billion in overall U.S. assistance. The dispute originated from lawsuits by aid organizations alleging illegal freezing of aid payments. Despite a temporary restraining order from Ali, the administration continued to freeze payments and defy court orders. The administration said it had completed its review, canceling nearly 5,800 awards while keeping over 500. Secretary of State Marco Rubio ordered expedited payment of some invoices, but full payments could take weeks. Trump's 90-day pause on all foreign aid, ordered on his first day in office, has jeopardized global humanitarian relief efforts.

The Texas Department of State Health Services announced on February 26 that a child died from measles, marking the first measles-related death in the US in a decade. Texas is facing its worst measles outbreak in 30 years, with confirmed cases rising to 124, including 18 hospitalizations, mostly children. Lubbock Health Director Katharine Wells stated the deceased was an unvaccinated school-aged child. Hospitals have treated multiple measles patients with symptoms like high fever and red eyes. New Mexico also reported nine cases. The US measles mortality rate is 1-3 deaths per 1,000 reported cases, with recent cases largely attributed to unvaccinated individuals.

In 2024, Japan's newborn population decreased by 5% year-on-year to a record low of 720,988, marking the ninth consecutive year of decline. The death toll reached 1.62 million, indicating more than two deaths for every birth. The COVID-19 pandemic's impact on marriage rates is a primary cause, along with young people's reluctance to have children. The government's 3.6 trillion yen childcare subsidy policy has had limited effect. A labor shortage of 11 million is projected by 2040, with public debt reaching 232.7% of GDP. The number of pension contributors has decreased by 3 million, while recipients have increased by nearly 40%, adding pressure to the pension system. Neighboring South Korea also faces severe aging issues, with a fertility rate of just 0.72 in 2023.

Bosnian-Serb leader Milorad Dodik was sentenced to one year in prison and a six-year ban from public office by the Court of Bosnia and Herzegovina for ignoring the rulings of the international High Representative. Dodik dismissed the verdict at a rally in Banja Luka, urging supporters not to worry. The conviction marks the climax of a long-standing conflict between Dodik and High Representative Christian Schmidt, who retains significant authority in Bosnia. Despite international hopes for local cooperation, ethno-nationalist leaders remain entrenched, leading to economic stagnation and brain drain. Facing US and UK sanctions, Dodik's government is again proposing to withdraw from national institutions. Experts believe Dodik may be facing deeper troubles.

Amazon Web Services (AWS) has developed its first quantum chip, Ocelot, at its Center for Quantum Computing in Pasadena, California. The chip's design aims to build highly efficient hardware systems, with Amazon claiming it requires as little as one-tenth the resources of conventional approaches. This announcement follows Microsoft's reveal of its inaugural quantum chip last week. Quantum computers use quantum bits (qubits) that can operate in multiple states simultaneously, solving problems beyond the reach of classical computers. Amazon's Ocelot chip currently has nine qubits, while Google's Willow chip features 105. Amazon plans to offer this chip through its Braket service. Experts predict that commercial quantum computers are still at least 10 years away.

On February 25, US President Donald Trump proposed replacing the existing EB-5 immigrant investor visa program with a so-called 'gold card' that would cost around US$5 million, granting buyers green card privileges and a pathway to American citizenship. Trump stated that details of the scheme would be released in two weeks and it could be applicable to Russian oligarchs. The EB-5 program, administered by the US Citizenship and Immigration Services, aims to stimulate the US economy through job creation and capital investment by foreign investors. Commerce Secretary Howard Lutnick said the EB-5 program was fraught with fraud and would be replaced by the 'Trump gold card'.

King Mohammed VI of Morocco called on citizens to abstain from slaughtering sheep for Eid al-Adha this year due to a significant decline in livestock numbers caused by consecutive droughts. Eid al-Adha, commemorating Ibrahim's willingness to sacrifice his son, is scheduled for June. Official figures show a 38% decrease in Morocco's cattle and sheep herds since the last census. The King, also the country's supreme religious leader, emphasized that performing the rite under current circumstances would harm many, especially those with limited income. This year's rainfall is 53% lower than the 30-year average, leading to pasture shortages, reduced meat production, and higher prices and imports. Morocco recently signed a deal to import up to 100,000 sheep from Australia and suspended import duties and VAT on livestock and red meat in its 2025 budget to stabilize prices.

Snowflake forecasted its fiscal 2026 product revenue to exceed analysts' estimates on Wednesday, driven by growing cloud service demand amid advancements in artificial intelligence, causing its shares to surge 11% in extended trading. The company also announced the integration of OpenAI's models into Snowflake Cortex AI, its fully managed AI service. Snowflake's data cloud has seen strong adoption from firms seeking AI-powered data organization solutions. The company revealed that Chief Financial Officer Michael Scarpelli will retire, remaining in his role until a successor is appointed, after which he will transition to an advisory position. Snowflake projected a 24% annual growth in 2026 product revenue to $4.28 billion, surpassing the average analyst estimate of $4.21 billion, according to LSEG data. As businesses shift towards cloud-based solutions, companies like Snowflake are experiencing increased sales. The company also forecasted first-quarter product revenue between $955 million and $960 million, above the estimated $949.3 million. Total revenue for the fourth quarter was $986.8 million, beating the estimate of $955.9 million.