MicroWave

Summary

G7 foreign ministers issued a tougher statement on China, omitting past reassurances about "one China" policies and emphasizing concerns over Taiwan, China's nuclear buildup, and actions in the South China Sea.

The statement condemned "coercion" against Taiwan and removed language about maintaining stable relations with Beijing.

China strongly opposed the statement, calling it interference. The ministers also criticized China's economic policies and military actions near the Philippines and Vietnam.

The shift follows increased Chinese military pressure on Taiwan and recent U.S.-Japan discussions on regional security.

Summary

The EU warns that Trump-aligned tech leaders, including Elon Musk and Mark Zuckerberg, pose an "existential threat" by pressuring Brussels to weaken its digital regulations.

Trump has threatened tariffs on countries enforcing strict rules on U.S. tech firms, with Musk openly mocking EU governance.

Brussels insists on its right to regulate disinformation and antitrust issues but faces growing U.S. retaliation.

The dispute could escalate into a trade war, with both sides preparing countermeasures.

Summary

A survey of 100,000 Germans found that 94% refuse to buy a Tesla, signaling a major crisis for the company.

Tesla’s German sales dropped 70% in early 2025 after a 41% decline in 2024, despite overall EV sales rising.

Analysts attribute the slump to CEO Elon Musk’s far-right political endorsements, including promoting the AfD party and making Nazi-related gestures. Musk is under European investigation for political meddling.

With Tesla’s reputation plummeting, industry experts predict further losses in Germany’s competitive EV market.

Summary

A campaign finance watchdog filed a formal complaint alleging Elon Musk violated conflict of interest laws by influencing an FAA deal favoring his company, Starlink.

The Campaign Legal Center argues the FAA may cancel Verizon’s $2.4 billion contract due to Musk’s involvement in discussions about awarding Starlink a multibillion-dollar contract, violating federal law prohibiting officials from benefiting financially.

The Transportation Department’s inspector general may investigate, but Musk is unlikely to face penalties under the Trump administration.

Musk denies wrongdoing, claiming transparency, while CLC insists his actions qualify as unlawful participation.

Non-paywall link

Summary

Consumer lender stocks fell sharply as recession fears grow, with major credit card companies down an average of 12% this year versus 4.5% for the S&P 500.

While previous delinquency spikes were false alarms, new concerns have emerged: inflation-adjusted household credit card debt exceeds $10,000 for the first time since 2009, and Trump administration officials signal willingness to accept economic pain.

Particularly worrying is the doubling of late payments among high-income earners ($150,000+) over two years.

Despite Americans having solid balance sheets, consumer confidence is weakening, which could trigger a sharp spending pullback.

Summary

Seminole, Texas, with a large Mennonite population, is the epicenter of a measles outbreak since January, impacting nine counties with nearly 200 cases and the nation’s first measles death in a decade.

Fuelled by "personal choice" and post-pandemic distrust, vaccine hesitancy is high. Many residents downplay the severity: “They’re just making a big deal of it.”

Even a death hasn't driven vaccination rates up. As Dr. Parkey noted, regarding vaccination inclination, “No way. Before Covid I could convince some. Now it’s like, forget it.”

Health officials are concerned about underreporting and potential complications amid RFK Jr.’s influence and deep-seated vaccine skepticism in West Texas.

Non-paywall link

Summary

Defense Secretary Pete Hegseth reversed a 1965 policy barring segregation in defense contractor facilities, contradicting his confirmation claims of not being racist.

He has prioritized eliminating DEI initiatives, canceling military observances like MLK Day and Holocaust remembrances, and purging nonwhite male leaders.

The Pentagon’s anti-DEI campaign mistakenly flagged Enola Gay bomber photos for deletion because of the word "gay."

Critics link Hegseth’s actions to his far-right Christian nationalist beliefs and hiring of 26-year-old Kingsley Wilson, who promotes neo-Nazi theories, as deputy press secretary.

Summary

Farmers across the country are facing financial hardship due to a USDA spending freeze on agricultural grants and loans.

The freeze, part of a broader review of federal spending, has halted construction projects, delayed equipment purchases, and caused uncertainty for farmers relying on USDA funding.

This comes as Trump imposes new tariffs on farm products, sparking trade wars and further straining the already struggling agricultural sector.

Summary

Federal workers who voted for Trump in 2024 are facing unexpected job losses as the administration implements massive workforce cuts.

Michael Graugnard, an attorney advisor at USDA, was laid off three months into his role despite managerial assurances. While he supports "government efficiency," he didn't anticipate this implementation but doesn't regret his vote.

Similarly, IRS veteran James Diaz criticizes the administration's "chainsaw" approach to cuts. However, others like Ryleigh Cooper, who voted for Trump's IVF promises, now regret their decision after losing her Forest Service job.

The layoffs are part of Trump and Musk's plan that has terminated thousands of federal workers and convinced 77,000 others to resign.

Summary

Trump's tariff wars may harm Boeing more than Airbus as Washington imposes 25% tariffs on imports from Canada and Mexico and 20% on Chinese goods.

Boeing faces challenges passing on price increases while risking loss in the Chinese market. The aviation sector, dependent on international supply chains, will be impacted, with Boeing already struggling after losing nearly $1 billion monthly in 2024.

Trump's threatened 25% tariff on EU goods could trigger retaliation. Unlike Boeing, Airbus has U.S. manufacturing facilities providing partial shelter from tariffs.

Industry groups warn these measures will disrupt complex global supply chains, with Boeing's stock falling 6.5% while Airbus rose 3%.

Summary

Elon Musk clashed with Trump’s cabinet in a heated White House meeting over Doge’s aggressive cost-cutting.

Transport Secretary Sean Duffy was enraged by Musk’s attempts to cut air traffic controllers despite a national shortage, accusing him of unjustified layoffs. Duffy presented a spreadsheet showing Musk was not telling the truth, prompting Trump to order MIT graduates be hired instead.

Veterans Affairs Secretary Doug Collins criticized hospital cuts, and Secretary of State Marco Rubio also confronted Musk.

Trump backed his cabinet, emphasizing a "scalpel rather than hatchet" approach to staffing reductions.

Summary

Investor sentiment is shifting away from U.S. markets as Europe and China ramp up spending and economic policies.

A global trade war, Trump’s aggressive tariffs, and China’s rising technological influence are reshaping capital flows.

European stocks are outperforming U.S. markets, and the dollar is weakening as investors diversify.

The emergence of Chinese AI models, like DeepSeek, challenges U.S. dominance in tech. While some see this as a temporary shift, others believe global investment strategies are adapting to a changing economic landscape.