Passengers Fled a Train Over Fears of a Fire. Then Another Train Hit Them.

Two new bills introduced in the U.S. Congress aim to revoke China's permanent normal trade relations status, with one introduced in the House by John Moolenaar and Tom Suozzi and a companion bill in the Senate by Jim Banks, Tom Cotton, and Josh Hawley. This move would increase tariffs on Chinese imports and strip China of certain trade benefits, citing economic losses and national security concerns. The bills hope to leverage Republican control of Congress...

Indonesia's President Prabowo Subianto has directed the government to reduce spending by 306.7 trillion rupiah (US$18.8 billion) this year, equivalent to 8% of the total approved budget. The cuts, not requiring a budget revision, will be identified by ministries and agencies. Prabowo also aims to expand free meal recipients to 82.5 million, potentially increasing the budget deficit, which currently stands at 2.53% of GDP. Full Article

France's CMA CGM has ordered twelve 18,000 teu LNG dual-fuel containerships from Korean shipyard HD Hyundai Heavy Industries for $2.58bn, set to be delivered by 2028. This move positions CMA CGM to potentially surpass Maersk as the world's second-largest containerline, amidst record-breaking containership orders last year and continued ordering activity in January, including newbuilds from China's Kawa Shipping and Germany's Elbdeich Reederei. Full Article

John Moore, global CEO of Mediahub, is leaving the agency after 27 years, starting as group media director in 1997 and rising to global president in 2015. Mediahub Worldwide announced his departure on LinkedIn, praising his role in building the agency into a global powerhouse. With Mediahub being part of IPG Mediabrands since 2023, Moore's exit coincides with Omnicom's acquisition of IPG. Full Article

Across the US South, extreme weather has brought record-breaking snowfall and freezing temperatures, leading residents from Florida to Texas to seek refuge in warming centers and causing chaos on roads and runways. The region experienced its worst snowstorm in 130 years, with up to 25cm of snow in New Orleans and similar accumulations in Pensacola and Houston. Airports struggled with over 1,800 flight cancellations, with Houston's George Bush Intercontinental Airport cancelling 37% of outbound flights...

In response to Trump's economic warfare declaration, the world is unlikely to remain passive, with potential retaliation not necessarily escalating trade war risks. Dumping US Treasuries could impact the economy, prompting higher rates and inflation, potentially leading to recession. Trump's prioritization of punishing allies like Canada and Mexico, coupled with imperialistic rhetoric regarding Greenland, Panama Canal, and South America, signals a shift in US foreign policy focus away from traditional allies towards China and Russia....