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NASA has said the botched 2024 Starliner mission, which left two astronauts stranded in space for nine months, was a "Type A" mishap - at the same level assigned to the fatal 2003 Columbia and 1986 Challenger space shuttle disasters. The category is reserved for incidents causing more than $2m in damage, the loss of a vehicle or its control, or deaths. NASA Administrator Jared Isaacman sharply criticized Boeing and NASA leadership for their handling of the mission during a news conference timed with the release of a 300-page report that detailed communication breakdowns and "unprofessional behavior" as the agency and its longtime contractor struggled to agree on how to safely return the crew to Earth. "We returned the crew safely, but the path we took did not reflect NASA at our best," Isaacman said. 

 

Reuters

The Register

BBC News

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The European Central Bank (ECB) has fined JPMorgan’s European unit €12.18m ($14.32m) for misreporting capital requirements after incorrectly calculating risk-weighted assets. The ECB said that “between 2019 and 2024” the bank reported risk-weighted assets that were too low because it misclassified corporate exposures for 15 consecutive quarters and applied a lower credit-risk weight than banking rules require. The ECB also said some transactions were improperly excluded from calculations. JPMorgan said it acknowledged the fine, self-reported the issues, and has fully remediated them.  

 

Reuters

Asset manager Blue Owl has halted investor withdrawals from its $1.7bn Blue Owl Capital Corporation II fund. Initially, Blue Owl planned to allow withdrawals but reversed course, opting for quarterly repayments instead. The fund primarily invests in middle-market US companies and has provided loans to over 180 businesses. The news sent shares of the biggest private investment managers on Wall Street tumbling on Thursday. Bloomberg notes that Blue Owl’s decision highlights a key risk for retail investors drawn to private credit: such funds offer less liquidity than public markets, and firms can block their investors from cashing in.

 

Bloomberg

Financial Times

Reuters

The Department of Justice has hung a large banner of Donald Trump outside its Washington headquarters. The large blue banner with Trump’s face reads “Make America Safe Again.” NBC News notes that the DOJ has traditionally operated with a degree of independence from the White House, but that separation has eroded during Trump’s second term as the department has gone after his perceived political enemies. “We are proud at this Department of Justice to celebrate 250 years of our great country and our historic work to make America safe again at President Trump’s direction,” a DOJ spokesperson said when asked about the banner.

 

Financial Times

NBC News

New York Times

Reuters reports that the U.S. State Department is planning an online portal be hosted at "freedom.gov" that will allow people in Europe and elsewhere to see content banned by their governments including alleged hate speech and terrorist propaganda. Officials are said to have discussed including a virtual private network function to make a user's traffic appear to originate in the U.S. “Digital freedom is a priority for the State Department . . . and that includes the proliferation of privacy and censorship-circumvention technologies like VPNs," the department told Reuters.

 

Reuters

A New York federal judge has rejected ticketing giant Live Nation’s bid to dismiss a lawsuit filed by the Department of Justice and more than three dozen states that accused the business of illegally dominating the live events market. The government can proceed with its allegations that Live Nation ties the use of its amphitheaters to its concert promotion services, but the judge dismissed claims that the company monopolizes the concert promotion market and harms fans through higher ticket prices.

 

Bloomberg

Hollywood Reporter

India's information minister Ashwini Vaishnaw has called for significantly stronger regulations to tackle the growing threat of deepfakes. He said that all digital platforms operating in India must adhere to the country’s legal framework and the Constitution. “It's very important for the multinationals to understand the cultural context of the country in which they are operating,” Vaishnaw said during a briefing at the India AI Impact Summit in Delhi.  “The problem of deepfakes is growing day by day. We need much stronger regulation,” he said.

 

Fortune India

The Tribune

The U.S. trade deficit totaled $901.5bn in 2025, barely changed from the previous year despite President Donald Trump’s sweeping tariffs aimed at reducing the imbalance. The Commerce Department reported that December’s goods and services deficit widened sharply to $70.3bn, up $17.3bn from November and well above expectations. During 2025, the Trump administration introduced a 10% across-the-board tariff on imports along with additional country-specific duties. However, some measures were later softened, and companies front-loaded imports early in the year to get ahead of tariff increases, temporarily widening the gap. The largest goods trade deficits were with the European Union ($218.8bn), China ($202.1bn), and Mexico ($196.9bn). Exports rose to $3.43tn for the year, up nearly $200bn from 2024, while imports climbed to $4.33tn, an increase of about $198bn.

 

CNBC

New York Times

Reuters

Federal Reserve officials were split at their January meeting over the future direction of interest rates, with most agreeing to pause further cuts for now but differing on what should come next, according to newly released minutes. While several policymakers said additional rate cuts could be appropriate later this year if inflation continues to ease, others argued rates should remain steady until there is clearer evidence that inflation is firmly back on track toward the 2% target. A few officials even suggested that rate hikes could be considered if price pressures persist, calling for a more “two-sided” policy outlook. The Fed has already reduced rates by 0.75 percentage points since September, bringing the benchmark range to 3.5%-3.75%. Officials acknowledged that inflation is expected to decline this year but warned progress could be slower and uneven, with tariffs and other pressures posing risks.

 

Bloomberg

CNBC

New York Times

Reuters

U.S. Vice President JD Vance has said he worries about how companies use artificial intelligence. "I worry about companies using artificial intelligence to surveil Americans. I worry about invasions of privacy, I worry a lot about political bias," he said in an interview with Fox News program, "The Story."

 

Reuters

JPMorgan Chase aims to open more than 160 branches in 2026, in states including North and South Carolina, Florida, Pennsylvania, Kansas, Massachusetts and Tennessee. The New York Post says the push into physical banking bucks global trends and underscores U.S. lenders’ faith in Americans’ preference for face-to-face service. “Chase branches are more than just a place to transact; they are vital engines driving economic activity and supporting people, businesses, schools, hospitals and nonprofits,” Tom Horne, the company’s head of consumer branch banking, said.

 

New York Post

Axios

Financial Post

A coalition of investors, including public-sector pension funds, has urged Starbucks shareholders to vote against the re-election of lead independent director Jorgen Vig Knudstorp and board committee chair Beth Ford, citing concerns over the company’s handling of labor relations. The move comes as Starbucks continues protracted negotiations with unionized baristas, following a nationwide strike involving more than 3,800 workers last year. The investors warned that failure to build a constructive relationship with its workforce could undermine efforts by chief executive Brian Niccol to revive sales. Starbucks said it offers competitive pay and benefits, and confirmed that oversight of labor matters now sits with the full board after the elimination of its Environmental, Partner, and Community Impact Committee.

 

Reuters

Apple has dropped environmental performance targets from the 2025 bonus plans of chief executive Tim Cook and other top executives, marking a retreat from linking pay to ESG goals. The company removed an “ESG modifier” that since 2021 allowed bonuses to be adjusted by up to 10% based partly on progress in areas such as greenhouse-gas reductions and renewable energy use. Apple joins firms including Starbucks, Salesforce, Mastercard, and Procter & Gamble in weakening or scrapping climate-linked pay incentives.

 

Bloomberg

Edison International has announced a 40% reduction in executive bonuses in the light of the severe consequences of a Los Angeles-area wildfire that resulted in 19 fatalities and significant damage to over 10,000 structures. The decision comes after the company faced scrutiny for its role in the Eaton Fire, which lasted nearly four weeks in January 2025, amid indications that its equipment may have caused the blaze. Edison is now contending with multiple lawsuits from homeowners and businesses affected by the disaster.

 

Bloomberg

Brad Reese, grandson of the inventor of Reese's Peanut Butter Cups, has criticized The Hershey Co. for altering key ingredients in several Reese's products. In a letter, he expressed concern over the replacement of milk chocolate with compound coatings and peanut butter with peanut crème. Hershey acknowledged some recipe changes but claimed they were necessary to meet consumer demand and manage high cocoa prices. Reese argued that these changes undermine the brand's quality and trust, stating: "I absolutely believe in innovation, but my preference is innovation with quality."

 

Los Angeles Times