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Daily Briefing

Daily Briefing

By Claire Beers

Hello. The Trump administration has defended the killing of Alex Pretti in Minneapolis, China investigates a top general over serious violations, and gold hits a record high.

Plus, the sad toy bringing a lot of joy. 

Today's Top News

 

Federal agents stand near the site where Alex Pretti was fatally shot. REUTERS/Tim Evans

ICE in Minnesota

  • A second fatal shooting by federal agents in Minneapolis has thrust President Donald Trump’s aggressive immigration crackdown deeper into the national political spotlight, forcing Republicans to defend the administration's hard-line tactics.
  • Trump's administration defended the fatal shooting of US citizen Alex Pretti, even as video evidence contradicted their version of events and as tensions grew between local law enforcement and federal officers.
  • Pretti worked as an ICU nurse at a Veterans Affairs hospital. Reporter Brad Brooks spoke to the Reuters World News podcast from Minneapolis after hundreds of healthcare workers gathered at the site of his killing. Listen here.
  • Trump’s administration also opposed efforts to expand the use of body cameras by immigration officers and sharply cut oversight staffing.

In other news

  • A powerful winter storm spread a paralyzing mix of heavy snow, sleet and freezing rain from the Ohio Valley and mid-South to New England, compounded by bitter, Arctic cold gripping much of the US east of the Rockies.
  • Taiwan is monitoring what it called "abnormal" changes to China's military leadership after its most senior general was put under investigation. 
  • A US document on security guarantees for Ukraine is completely ready and Kyiv is waiting for a time and place for it to be signed, President Volodymyr Zelenskiy said, indicating that weekend talks with Russia in Abu Dhabi made some progress.
  • Israel said it will reopen Gaza's Rafah crossing with Egypt only after an operation to locate the body of the last remaining Israeli hostage in the enclave is completed. The border was supposed to have opened during the initial phase of Trump's plan to end the war. 
  • Thousands marked Australia's national day by attending "Invasion Day" rallies in support of Indigenous Australians and calling for unity, while separate anti-immigration protests also drew crowds.
 

Business & Markets

 
  • Gold surged to a record high above $5,100 an ounce, extending a historic rally as investors piled into the safe-haven asset amid rising geopolitical uncertainties.
  • India plans to slash tariffs on cars imported from the European Union to 40% from as high as 110%, sources said, in the biggest opening yet of the country's vast market. India and the EU are close to concluding a long-sought free trade agreement. See the key elements of the trade deal here.
  • Meta Platforms, TikTok and YouTube will face courtroom scrutiny this week over allegations that their platforms are fueling a youth mental health crisis, as the national debate about kids’ screen time enters a new phase.
  • Oil prices rose after climbing more than 2% in the previous session, due to production disruptions in major US crude-producing regions.
  • LVMH shareholders are seeking clarity on how and to whom Bernard Arnault plans to hand over leadership of the luxury giant, saying the lack of transparency is increasingly becoming a risk.
  • Samsung plans to start production of its next-generation high-bandwidth memory chips, or HBM4, next month and supply them to Nvidia, a person familiar ‌with the matter told Reuters.
  • The unusual rate check by the New York Federal Reserve that triggered a spike in the stubbornly weak yen has lowered the threshold for intervention, but coordinated Japan-US selling of dollars still looks highly unlikely at this stage.
 

Russian strike on Ukraine leaves 1,330 buildings still without heat

 

Firefighters work at the site of a Russian drone and missile strike, amid Russia's attack on Ukraine. Handout: State Emergency Service of Ukraine. 

More than 1,300 apartment buildings in the Ukrainian capital Kyiv were still without heating following a Russian missile and drone attack earlier this week, Kyiv Mayor Vitalii Klitschko said.

Russia has sharply intensified bombardments of Ukraine's energy system since it invaded its neighbor in 2022. Russia launched a vast attack on Ukraine's energy system over the weekend, rocking Kyiv with explosions overnight and leaving 1.2 million properties without power nationwide during sub-zero winter temperatures.

Read more
 

And Finally...

Crying horse plush toys sit on display ahead of the Chinese Lunar New Year. REUTERS/Nicoco Chan

Customers are searching for an unlikely bestseller ahead of the Lunar New Year — a red plush horse with a downturned mouth. The toy has gone viral on social media after a manufacturing mistake turned what was meant to be a happy-faced Lunar New Year decoration's smile into a frown.