And the Epstein stain spreads around the world

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Weekend Briefing

Weekend Briefing

From Reuters Daily Briefing

 

By Robert MacMillan, Reuters.com Weekend Editor

Welcome to what might be the longest Weekend Briefing we’ve ever written. It won’t be a slog, I promise. And as today’s hors d’oeuvres, I suggest the latest edition of AI&Us which explores artificial intelligence’s conjunction with religion, our Culture Current interview with Ai Weiwei on AI’s impact on freedom of expression, and City Memo’s tour of Cortina d’Ampezzo. And sign up for our Inside Track newsletter with Olympics updates by our global sports editor Ossian Shine. You won't regret it.

 

US aims for accelerated peace deal in Ukraine

 
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REUTERS/Gleb Garanich

  • Exclusive: U.S. and Ukrainian negotiators discussed an ambitious March goal for Russia and Ukraine to agree to a peace deal. That timeline is likely to slip and some observers view it as fanciful, sources said. Our Wider Image team spent three days with one family, their cats and dogs, and seven small pigs, to offer a portrait of how families are coping with extreme cold during Russia’s relentless assault on Ukraine’s energy infrastructure. I also recommend this video of life with the Davydenkos.
  • Iran negotiations: Tehran’s top diplomat said nuclear talks were off to a good start and set to continue, while Foreign Minister Abbas Araqchi said dialogue depends on the U.S. refraining from threats and pressure. The U.S. wanted to expand the talks to ballistic missiles, Iran’s support for armed groups in the region and treatment of Iranians. Araqchi said Iran is not open to those talks.

Epstein scandal reverberates around the world

  • Spreading stain: The Justice Department’s latest cache of files related to the late sex offender Jeffrey Epstein is implicating politicians, royalty and the rich all over the place. Police are searching two addresses linked to the UK’s former U.S. ambassador Peter Mandelson. The former Prince Andrew moved out of his mansion under cover of darkness.
  • And in the U.S.: Bill and Hillary Clinton avoided potential contempt charges by agreeing to testify in a congressional investigation. Longevity expert Dr. Peter Attia resigned in shame from protein-bar company David Protein. Queens University Belfast cut ties with former U.S. Sen. George Mitchell. Brad Karp, longtime chairman of Wall Street law firm Paul Weiss, fell on his sword.
 

U.S. moves to deport 5-year-old boy

  • Liam Conejo Ramos: The Department of Homeland Security denied that it was seeking the Ecuadorian boy’s expedited removal. Ramos and his father arrived legally as asylum applicants, but were detained in Minnesota in January. A judge ordered their release on Jan. 31. A federal judge allowed the release of bodycam footage, text messages and other evidence in the case of a Chicago woman who was shot multiple times by border agents last fall.
  • Football thaw: The NFL and federal law-enforcement officials said ICE won’t mount any operations around Super Bowl Sunday in the San Francisco Bay Area. A phalanx of law enforcement from every other stripe, on the other hand? Check. FAA drone restrictions? Check. Las Vegas sportsbooks betting on the Patriots upsetting the Seahawks? But of course.
 

AI gives and AI takes away

  • Historic high: The Dow Jones Industrial Average hit the historic 50,000 mark on Friday and the S&P 500 ended sharply higher as Nvidia’s and other chipmakers’ stocks soared. Their gain comes at the expense of Amazon and Alphabet. Amazon’s share price fell after it said it will raise its spending on artificial-intelligence technology.
  • Headache for investors: Big Tech’s AI spending plans are creating a conundrum as the market tries to assess the technology’s implications for profits while presenting a potential existential threat to software firms and other companies. This is hitting asset managers and private-equity companies that are exposed to loans and leverage tied to the business.
 

Hims’ obesity pill rattles drugmaker rivals

  • Compounding: Hims’ & Hers’ $49 compounded version of Novo Nordisk’s Wegovy pill is threatening its rivals’ returns in the United States, and they absolutely do not like it. This comes after Novo warned of a possible 13% drop in profits and sales this year as Trump puts pressure on drugmakers to lower drug prices. PS you’re going to see scads of ads for these drugs during the Super Bowl.
  • Saving: Customers are becoming more frugal and consumer-goods companies are noticing. PepsiCo is cutting its prices on some of its biggest brands. Chipotle forecast weak annual sales as did Oreo maker Mondelez. Newell Brands cut prices on its baby-care and Rubbermaid products. KFC’s parent Yum Brands topped its same-store sales estimates as diners sought value meals. Trump repeatedly claims he’s beaten inflation and that prices are falling. The numbers don’t back him up.