FINANCIAL TIMES
-US Secretary of State Marco Rubio's last-minute cancellation of a meeting with European leaders regarding the Ukraine conflict has raised concerns about the United States' diminishing interest in collaborating with Europe to resolve the issue. Scheduled to meet with leaders from Germany, Poland, Finland, and the European Commission in Munich, Rubio was unable to attend due to scheduling conflicts, according to a US official. European officials criticized the cancellation, describing it as “insane” amid the Trump administration's trend of distancing itself from European allies while seeking to guide Ukraine towards an agreement with Russia to end the ongoing war. The absence of US representation rendered the meeting lacking in substance, per another European official. Despite this, Rubio met with German Chancellor Friedrich Merz, discussing Ukraine as a primary focus, along with Russia negotiations and ongoing military support for Kiev. Other topics included NATO and Europe's involvement, where Rubio praised Germany's initiatives to reinforce the military alliance. Following Munich, Rubio is set to travel to Budapest for a meeting with Hungary’s leader.
-A widely held perspective suggests that organizations like the UN and its predecessor, the League of Nations, arose from dissatisfaction with the violent outcomes of 19th-century power politics, during which powerful blocs established spheres of influence based on their strategic interests, leading to numerous wars. In recognition of the escalating destructiveness of 20th-century conflicts, the liberal victors of the two world wars advocated for a new vision, establishing permanent global institutions where independent nation-states could convene as sovereign equals under mutually agreed international laws. This shift resulted in the formation of a vast array of intergovernmental agencies and organizations, which numbered over 7,000 by 2018, compared to fewer than 50 in 1908, alongside the rapid growth of multilateral norms, standards, and laws. Following the end of the cold war, the global dominance of this rules-based liberal order was celebrated; however, Russia's full-scale invasion of Ukraine four years ago was met with resistance as it was perceived as a regression to imperialism and territorial expansion characteristic of earlier eras.
-Mark Suzman, chief executive of the Gates Foundation, expressed feeling "sullied" by the foundation's ties to Jeffrey Epstein, following concerns about the impact of Epstein's past interactions with the philanthropic organization and its chair, Bill Gates. During a town hall meeting on February 5, Suzman described communications between foundation staff and Epstein regarding a failed fundraising initiative as "deeply unsettling and depressing," emphasizing that such interactions "shouldn’t have happened." He acknowledged that Gates' relationship with Epstein, despite Gates being a primary funder of the foundation and not being accused of sexual abuse, complicates the foundation's mission. Bill Gates has publicly admitted to being "foolish" for engaging with Epstein and expressed regret, although a spokesperson for Gates denied allegations suggesting he sought to conceal a sexually transmitted disease and referred to such claims as "absolutely absurd and completely false." The issue of Epstein has been a recurring topic in discussions at the Gates Foundation, underscoring ongoing concerns about reputational damage.
-Donald Trump expressed that regime change in Iran would be "the best thing that could happen," amid increasing military tensions as he sent a second aircraft carrier, the USS Gerald R Ford, to the Middle East. During a visit to Fort Bragg, he indicated a pessimistic view on negotiations with Tehran and highlighted the US military's escalating presence in the region. Trump's comments suggested a potential for conflict with Iran, as he downplayed the difficulty of identifying new leadership should the regime be overthrown, stating, "There are people." Earlier in the year, he had also deployed the USS Abraham Lincoln to the Middle East in response to Iran's crackdown on pro-democracy protests.
-US Homeland Security Secretary Kristi Noem is under increased pressure due to impending funding lapses for her agency, which oversees Donald Trump’s immigration policies. Congress has not reached a budget agreement for the Department of Homeland Security, risking a shutdown of critical services, including Immigration and Customs Enforcement and Customs and Border Patrol. In addition to the funding crisis, Noem faces criticism for leadership issues within the agency, which has managed the president’s deportation initiatives amidst a recent surge of ICE agents in Minneapolis that resulted in the deaths of two US citizens. The Wall Street Journal also reported that Noem and her aide Corey Lewandowski are criticized for their self-promotional approach and the agency’s stringent immigration practices.
-The Pentagon has decided to add Alibaba and BYD to its list of companies linked to the Chinese military, coinciding with Donald Trump's upcoming meeting with Xi Jinping in Beijing. The updated "Chinese Military Companies" list was submitted to the Federal Register, but was unexpectedly removed at the Pentagon's request without explanation. A defense official indicated the new list would be published next week. This move follows concerns raised by US intelligence three months ago regarding Alibaba's potential threat to national security. Baidu, the search engine, will also be included on the list, which is mandated by Congress. Although US-China trade tensions have somewhat eased since the last Trump-Xi meeting, including such prominent Chinese firms risks escalating tensions ahead of their April summit. Additionally, reports suggest the Trump administration is preparing a substantial arms sales package for Taiwan, potentially amounting to $20B, following a record $11.1B deal announced in November. Craig Singleton, a US-China relations expert, described the inclusion of these companies as a form of "mutually assured disruption."
-Sports wagers on Kalshi, a prediction market start-up that gained popularity after the 2024 US presidential election, are estimated to generate annualized revenues of approximately $1.3B. This amount represents nearly 25% of DraftKings' total sportsbook revenue and highlights the increasing competition that prediction markets pose to traditional sports betting operators. An FT analysis indicated that Kalshi's trade volume and associated fees surged last autumn coinciding with the start of the American football season, with sports trading revenue now accounting for around 90% of all fees on the platform. These estimates are derived from Kalshi's publicly available fee structures and do not include reduced fees from the market makers program, which remains undisclosed. Additionally, Kalshi's monthly active users have skyrocketed from 600,000 at the start of 2025 to 5.1M as of February 9, per Sensor Tower data.
-Advertising has evolved with the early internet, initially aligning user incentives with service providers but facing criticism for potentially misaligning them. Recently, OpenAI has shifted its stance by testing advertisements on ChatGPT, acknowledging the need for commercial revenue in light of its high valuations. The company aims to generate billions in advertising revenue, with a minimum commitment of $200,000 from advertisers. This move positions OpenAI as a formidable player in the advertising sector, comparable to established platforms like Netflix, which reported $1.5B in ad revenues. The integration of ads into ChatGPT is set to open new marketing opportunities, with Dentsu predicting significant brand discovery through AI-generated summaries. Kate Scott-Dawkins from WPP Media noted a shift in advertising from traditional search engines to AI-assisted platforms, envisioning personalized marketing based on user data in ways not previously possible.
-France's largest companies are projected to endure a €7.5B reduction in profits this year due to the extension of a contentious profit levy, undermining President Emmanuel Macron's pro-business reputation. Recent earnings reports reveal that banks, luxury brands, and industrial firms are particularly affected by this renewed tax, which generated €8B in 2025. Initially intended as a temporary measure, the surcharge has been retained with minor adjustments to secure support from the centre-left socialist party for the recent budget approval. While supporters argue the levy is crucial for improving France's public finances and reducing the deficit to 5% of GDP, affected companies cautioned that it may curtail their investments in the country. For instance, Safran, the aerospace and defense firm, anticipates a tax payment of approximately €470M this year, up from €377M last year, with CEO Olivier Andries emphasizing that the surcharge has negated the competitiveness gains achieved since Macron's tenure began.
-The recent trade deal between the US and Taiwan harmonizes Washington's tariffs on Taiwanese exports with those of other major trading partners, but notably excludes the crucial semiconductor sector. The agreement follows Taiwan's commitment to invest $250B in US chip production in return for tariff exemptions. However, the ambiguity around this investment raises concerns about the future of Taiwan Semiconductor Manufacturing Company (TSMC), the largest chip manufacturer globally. TSMC's stakeholders are assessing how these developments will affect its investment strategies and manufacturing capabilities amidst the complexities of conducting business during Trump's presidency, particularly with major clients like Nvidia and Apple reliant on its chips. An insider noted that further details of the agreement may be withheld until after Trump's meeting with Xi Jinping, aimed at maintaining stable US-China relations. A key plan under consideration involves TSMC offering tariffs-free chip quotas to American clients in exchange for domestic production capacity enhancements.
-In Islamabad, the Federal Board of Revenue (FBR) is using social media analysis to identify potential tax evaders, focusing on influencers and celebrities whose extravagant lifestyles contradict their modest tax filings. Led by Rashid Langrial, the FBR's "lifestyle monitoring cell" aims to increase tax revenue by revealing the financial discrepancies of individuals flaunting wealth online. This initiative, inspired by similar programs in Malaysia and South Africa, has already identified cases that could yield Rs2.5B ($9M) in revenue since its inception in September, employing about 30 intelligence officers for the task.
NEW YORK TIMES
-The Department of Homeland Security is intensifying its efforts to track Americans critical of Immigration and Customs Enforcement (ICE) by issuing subpoenas to tech companies for user data linked to social media accounts. Google, Reddit, Discord, and Meta have received numerous requests for details such as names and contact information of accounts that have criticized ICE or revealed its agents' locations. Some companies have complied with these subpoenas, while others have informed users, allowing a brief window to challenge the requests legally.
-Protesters in Minnesota, particularly in Minneapolis and St. Paul, allege that federal agents targeted them by demonstrating knowledge of their home addresses. In particular, Daniel Woo, a 29-year-old sound designer opposed to the Trump administration's immigration policies, reported an incident where he tracked ICE agents in a vehicle. After confirming the identity of the agents, Woo followed them as they journeyed westward towards his neighborhood in Plymouth, where they ultimately parked in front of his house. He interpreted this act as intimidation, conveying a clear message: "We know where you live."
-On February 13, 2026, a federal judge, Richard G. Stearns, ordered the Trump administration to facilitate the return of Any Lucia Lopez Belloza, a 19-year-old college freshman who was mistakenly deported to Honduras in November 2025. The judge had previously recommended that a visa be issued to Ms. Lopez, allowing her to continue her studies at Babson College in Wellesley, Massachusetts, while her immigration case was processed in court. Ms. Lopez was detained at Boston Logan International Airport on November 20, 2025, as she waited a flight to Houston for Thanksgiving. She was deported to Honduras two days later, despite a court order on November 21 that prohibited her deportation during the pending immigration proceedings.
-A few thousand ElliQs have been distributed to seniors in the US since 2023, marking the beginning of a unique companionship between octogenarians and robots. Developed by Israeli start-up Intuition Robotics, these AI-powered devices aim to alleviate loneliness among older adults, often provided through nonprofits and state health departments. Designed to be a friend and companion, ElliQ is described by its founder as "a robot with soul." An example includes Jan, an 80-year-old with a vast family network across the globe, who finds solace in ElliQ's company, as it engages her with conversation and activities, breaking the solitude she often experiences despite her family's efforts to stay connected.
-Longtime allies of Robert F. Kennedy Jr., the U.S. health secretary, are initiating a campaign to repeal longstanding laws requiring vaccinations for children against diseases such as measles and polio prior to entering day care or kindergarten. A newly established coalition of vaccine activists aims to challenge these pivotal laws that have long safeguarded public health, although some exemptions exist. Leslie Manookian, a proponent of the Medical Freedom Act in Idaho, emphasized the coalition's intent to "burst the dam open" in states perceived as viable for change. This coalition, named the Medical Freedom Act Coalition, comprises over 15 nonprofit organizations pushing to eliminate what they regard as medical mandates, with a significant focus on vaccinations.
-Jeremy Carl, nominated by President Trump for a senior position at the State Department, faced challenges during his confirmation hearing regarding the concept of white identity, a topic he authored a book on. Despite his nerve-induced rambling about cultural distinctions between white and Black communities, he suggested that the decline of a dominant white culture is undermining the nation. This idea aligns with the New Right ideology, which Mr. Carl strongly supports. However, his clumsy explanation of "white erasure" and past remarks concerning race and Judaism have jeopardized his nomination. Following the hearing, Senate Foreign Relations subcommittee chairman John Curtis, a Republican from Utah, publicly expressed his opposition to Carl, arguing that he is unfit to represent U.S. interests in international discussions due to what Curtis deemed "insensitive remarks" about Jewish individuals.
-A New York City fundraising firm, Dynamic SRG, solicited contributions from convicted sex offender Jeffrey Epstein for the campaigns of prominent Democratic politicians, including Kathy Hochul, Hakeem Jeffries, and Joe Crowley, years after his conviction in Florida. Despite reaching out to Epstein, there is no record of him contributing to these campaigns. Emails reveal that consultants provided Epstein with potential access to exclusive events and organizing roles in exchange for donations.
-Secretary of State Marco Rubio opened the second day of the Munich Security Conference with expectations for a friendly address from European leaders, who had spent the previous day discussing new visions for the trans-Atlantic alliance. This new vision emphasizes a reduced reliance on American defense and commerce while recognizing the shifting values between Europe and the United States. European leaders have previously viewed Rubio as a constructive partner in security discussions, contrasting with Vice President JD Vance's earlier criticisms of European political dynamics, particularly regarding far-right parties. The first day's discussions seemed to preemptively address potential critiques Rubio might present. German Chancellor Friedrich Merz initiated the conference with a call for redefined transatlantic relations, suggesting that the U.S. under Trump's administration has lost its global leadership credibility, asserting that America’s standing has been "challenged, and possibly squandered."
-At a January conference at Tsinghua University, influential executives and founders from China's artificial intelligence sector, including representatives from Tencent, Alibaba, and Zhipu AI, expressed optimism about their industry's future potential. However, they acknowledged a significant challenge: a shortage of superfast semiconductors. Chinese chip manufacturers are expected to produce only a small fraction of the advanced chips created by foreign companies this year. Huawei, a leader in China's chip industry, stated that it would take nearly two more years to develop chips that can match the performance of Nvidia's offerings in Silicon Valley. Xiaomeng Lu from Eurasia Group noted that even prominent players like Huawei face considerable hurdles. Despite these challenges related to production limitations and U.S. policies hampering the import of essential tools, China's AI industry continues to gain momentum.
NY POST
-Newly unsealed records about Jeffrey Epstein disclose that he maintained some of his underage trafficking victims in an apartment building located at 301 E. 66th St., just ten blocks from his Upper East Side townhouse. This 16-story condominium, featuring a 24-hour doorman, served as a logistical hub for his operations. The documents reveal that over a dozen apartments were used for Epstein's guests, including high-profile names such as former Israeli Prime Minister Ehud Barak, as well as underage girls trafficked through modeling connections.
Emails highlight disturbing living arrangements for these young girls, with certain apartments noted in Epstein's address book as “Apts. for models.” Accounted experiences from a victim detail the normalcy presented in these environments, with one recalling a small apartment furnished with everyday comforts, which was part of the grooming process that made her feel cared for before she was taken to his townhouse for exploitation. This revelation amplifies the nature of his operations, illustrating how the building functioned as a hidden extension of his notorious activities.
-Bitcoin experienced a significant drop last week, plummeting 16% to $70,008, its worst weekly decline in three years, and is now 45% below its all-time high from last October. Ether also fell 24%, down 59% from its peak. Many investors are increasingly betting against Bitcoin, with fears that falling below the $60,000 mark could trigger further turbulence. Analysts warn that the $60,000 to $74,000 range will be crucial for determining Bitcoin's immediate future, while others, like investor Michael Burry, predict potential for a "death spiral" as additional selling pressure mounts. Overall, the market sentiment remains bearish, with identified structural risks in Bitcoin-backed loans that could exacerbate losses.