Zelenskyy Open to Resigning for Peace or NATO Membership

Ukrainian President Volodymyr Zelenskyy stated at a Kyiv press conference that he would be willing to step down if it secured peace for Ukraine or ensured the country’s immediate NATO membership. His remarks come amid escalating tensions with former U.S. President Donald Trump, who recently suggested that Zelenskyy bore responsibility for the war. Zelenskyy dismissed Trump’s comments and maintained that Ukraine and the U.S. should remain partners. Meanwhile, Trump has questioned Zelenskyy’s role in peace negotiations, suggesting that his presence is not crucial to resolving the conflict.

Sources: NBC

Conservatives Win German Election, AfD Surges to Second Place

Friedrich Merz's conservatives (CDU/CSU) secured victory in Germany’s national election but fell short of their target of 30% of the vote, complicating coalition talks. The far-right Alternative for Germany (AfD) made historic gains, finishing second with 20.8%, particularly dominating in eastern Germany. AfD leader Alice Weidel declared that Germans had "voted for change" and predicted fresh elections before the next scheduled vote. The election saw an 83% voter turnout, the highest since reunification in 1990. Outgoing Chancellor Olaf Scholz’s Social Democrats (SPD) suffered their worst-ever defeat with 16.4%, and Scholz ruled out joining coalition negotiations. Merz, who has pledged to bolster Europe’s independence from the U.S. and increase support for Ukraine, now faces a challenging task in forming a government. Meanwhile, international figures, including Donald Trump and Emmanuel Macron, reacted to the results, with Trump hailing the vote as a rejection of liberal policies.

Sources: BBC

Newsom Seeks $40 Billion in Federal Aid for Los Angeles Wildfire Recovery

California Governor Gavin Newsom has requested nearly $40 billion in federal aid to help Los Angeles recover from January’s devastating wildfires, which he warns could become the most expensive natural disaster in U.S. history. In a letter to Congress, Newsom emphasized the economic significance of Los Angeles and the need for federal support to rebuild homes, infrastructure, and businesses. The damage estimates exceed $250 billion, with real estate losses alone projected to surpass $30 billion. His largest funding request includes $16.8 billion from FEMA for reconstruction and debris cleanup, along with billions in housing and small business assistance. Newsom also expressed gratitude for President Donald Trump’s expedited debris removal but did not address reports that the administration might impose conditions on aid, such as defunding the California Coastal Commission. Trump and his allies have criticized California’s regulatory policies, suggesting they hinder recovery efforts.

Sources: NBC

Berkshire Hathaway Reports Strong 2024 Operating Earnings, Buffett Prepares for Transition

Berkshire Hathaway reported $19.7 billion in earnings for Q4 2024, significantly lower than the $37.6 billion recorded in Q4 2023. However, operating earnings—a key measure Buffett emphasizes—rose 71% in the quarter and 27% for the year, largely driven by a 51% increase in insurance profits. The company’s insurance "float" grew to $171 billion, benefiting from higher interest rates. Other segments had mixed results: the BNSF railroad saw a slight decline in earnings, utilities and energy profits surged 60%, and retail and services struggled, with auto dealership earnings down 7.9%. Berkshire’s cash reserves reached $334 billion, the highest level on record, as Buffett refrained from large acquisitions or share buybacks. Buffett, acknowledging his age at 94, reaffirmed that Greg Abel will succeed him as CEO.

Sources: Forbes

Stock Market Declines Amid Inflation Concerns, Investors Eye Nvidia Earnings

US stocks ended the week lower as concerns over slower economic growth and persistent inflation weighed on investor sentiment. The S&P 500 fell 1.7%, while the Nasdaq Composite dropped 2%, and the Dow led losses with a 3% decline. Investors are now awaiting Nvidia’s earnings report on Wednesday, which could provide insights into the AI sector’s momentum. Other key reports include Home Depot, Lowe’s, and Salesforce. Meanwhile, the Federal Reserve’s preferred inflation gauge, the core PCE index, is due Friday, with economists expecting a 2.6% annual increase, down slightly from December’s 2.7%. Given elevated inflation and a strong labor market, markets are now betting that the Fed will not cut interest rates in early 2025.

Sources: Yahoo Finance