Weekend Papers Summary
.FINANCIAL TIMES
-Electric vehicles (EVs) are increasing globally, but at slower rates than anticipated due to higher prices compared to petrol alternatives. The UK and Europe's EV sales market share fell last year, while US growth has slowed. In 2023, a record 1.2M EVs were sold in the US, making up 7.6% of the domestic car market. However, Kelley Blue Book analysts noted that the US EV market is still growing, but not as fast. Sales in the last three months of 2023 rose 40% compared to the same period a year earlier.
-Microsoft has reported that a Russian hacking group, Midnight Blizzard, gained access to a small percentage of its senior leaders' email accounts in November. The attack was detected on January 12, and Midnight Blizzard lost access to the accounts on or about January 13. Microsoft attributed the attacks to the risks posed by groups like Midnight Blizzard, which was responsible for a high-profile cyber-attack in 2020 that hijacked software from SolarWinds to breach the US Treasury, Commerce, Pentagon, and Fortune 500 companies.
-A meeting between senior figures in the far-right Alternative for Germany (AfD) party and Austrian extremist Martin Sellner has scandalized Germany's political class and sparked media attention. The meeting, which took place at the Landhaus Adlon in Berlin, saw politicians and wealthy benefactors discussing mass deportations and other incendiary ideas. Many see the meeting as a Rubicon, indicating the AfD's radicalization despite growing political support. AfD leader Alice Weidel fired her closest adviser, but rallies have been held across Germany, with calls to ban the party outright being made at the highest levels.
-New Hampshire holds an "open" primary, allowing registered Republicans and independents to participate in the vote. Nikki Haley is assured of second place, but the question remains whether she can make it close enough to call on primary night. Haley has the endorsement of New Hampshire's governor, Chris Sununu, but South Carolina senator Tim Scott is preparing to endorse Trump. The latest polls show Trump with 47% support in New Hampshire, while Haley has 34%. Florida governor Ron DeSantis has only 5% support.
-South Carolina Senator Tim Scott has endorsed Donald Trump's White House bid, a significant win for the former president and a blow to Nikki Haley's campaign. Scott, who dropped his own bid for the Republican nomination in November, emphasized the need for a president who will close the southern border and unite the country. This endorsement comes as a gut punch to Haley, who appointed him to the US Senate in 2013. Scott, the only black Republican senator, is also rumored to be Trump's vice-president pick.
-Japan has successfully landed a 2.4-metre tall lunar lander on the Moon, becoming the fifth nation to do so. However, the spacecraft's power issue is posing a threat to its ability to study the lunar surface and find clues about the Moon's origins. This comes after a series of setbacks for Japan's space exploration plans, despite increased investment and collaboration with the US to counter China's ambitions.
-Israel's war leadership has sparked a divide after former military chief Gadi Eisenkot called for elections within months and accused the government of not being truthful about its offensive against Hamas. In a blunt television interview, Eisenkot declined to trust Israeli Prime Minister Benjamin Netanyahu, highlighting the need for a return to the polls and elections to renew trust and address issues such as securing Palestinian hostages and post-war planning.
-European Central Bank president Christine Lagarde has quashed investors' hopes of a first-quarter interest rate cut in Davos, citing demands for pay rises by European workers as the main threat. Policymakers at the ECB remained concerned about high wage growth and the potential for it to trigger a surge in price pressures. Lagarde and IMF first deputy managing director Gita Gopinath pushed back on market expectations of a rate cut in the first quarter. However, wage growth remains the main hurdle for a clear shift in tone.
THE NEW YORK TIMES
-With Deal Close on Border and Ukraine, Republican rifts threaten to kill both. A divided GOP coalesced behind a bit of legislative extortion: No Ukraine aid without a border crackdown. Now they are split over how large a price to demand, imperiling both initiatives.
-Stocks climb to record, lifted by big tech and rate cut hopes. The S&P 500 crossed above its January 2022 peak. Investors have been buying stocks after signs that the Fed’s campaign of raising interest rates is over.
-A line chart showing the trajectory of the S&P 500 index from 1980 to now. The index has reached a new peak.
-Divisions have emerged in Israel over Gaza war. Protesters demanded action to free hostages, a war cabinet minister criticized the military campaign and the prime minister ruled out a two-state solution.
-President Biden pressed Prime Minister Benjamin Netanyahu of Israel on working toward the creation of a Palestinian state.
-The US is staring down a Trump-Biden repeat in disbelief and denial. As President Biden and Donald Trump stroll toward a likely fall rematch, many Americans are clinging to forlorn hopes and floating wild theories.
-Ron DeSantis is quietly starting to build his off-ramp from 2024. DeSantis praised Donald Trump’s victory in Iowa. He admitted to an early strategic error. And he’s begun casting his eyes forward to 2028.
-Inside CNN, there’s a debate going on over whether or not to air Donald Trump speeches live.
-Donald Trump, disdaining Nikki Haley, said she “probably” wouldn’t be his running mate.
-Credit card statements suggest prosecutors in Trump case traveled together. Records included in a court filing followed claims that Fani Willis had begun a relationship with Nathan Wade before hiring him to help lead the case.
-Sports Illustrated is thrown into chaos with mass layoffs. The announcement on Friday left in doubt what lies ahead for the venerable publication, with some staff members dismissed immediately.
-After Uvalde, challenges endure for the police despite clear protocols. The failures in Texas underscored a challenge that mass shootings pose to officers: Be ready to use deadly force in some cases, and try to de-escalate in others.
-Louisiana lawmakers approve map that empowers more black voters. A federal court had found that the existing map appeared to illegally undercut the power of Black voters in the state.
-Alec Baldwin is charged, again, with involuntary manslaughter. A grand jury in New Mexico indicted the actor in the death of the cinematographer on “Rust,” months after the original case against him was dismissed.
-In Solano County, Calif., a who’s who of tech money is trying to build a city from the ground up. But some of the locals don’t want to sell the land.
-Japan becomes the latest country to land on the Moon. The SLIM spacecraft made a successful landing on the lunar surface, but a problem with its solar panels means it will soon run out of power. Japan made a soft landing, but robotic spacecraft have crashed and belly flopped on the moon since 1959.
-Trump claims immunity extends even to acts that ‘cross the line.’ On social media, Donald Trump appeared to take a stance that went further than his lawyers have in court about presidential immunity from prosecution.
THE NEW YORK POST
-Donald Trump is leading White House candidate Nikki Haley in South Carolina's primary by a significant margin, according to internal polling by the super PAC backing the former president. The memo, handed to Haley's donors and supporters, includes a survey showing Trump beating Haley by 39 points in the Palmetto State. The poll shows 64% of South Carolina Republican voters favor Trump, 25% favor Haley, and only 8% support DeSantis. Haley's supporters appear to be more uncommitted than Trump's.
-JetBlue Airways and Spirit Airlines have announced they will appeal a federal judge's ruling that blocked their planned merger due to US antitrust law violations. The move follows US District Judge William Young's decision that JetBlue's $3.8B acquisition of Spirit was anti-competitive and would harm consumers. The airlines filed a notice to appeal the ruling to the 1st US Circuit Court of Appeals, stating that the appeal is consistent with the requirements of the merger agreement. Spirit shares rose 12% after the appeal notice, but are still down over 50% since the ruling.