Israel-Hamas Ceasefire and Hostage-Release Deal Officially Signed

Palestinians in Gaza celebrated after a ceasefire and hostage-release agreement between Israel and Hamas was signed in Doha. However, the Israeli government is not expected to vote on the deal until Saturday night, delaying the start of the ceasefire and the release of hostages. The negotiations faced last-minute disputes, including Hamas' request to swap prisoners, which was ultimately resolved. Israeli Prime Minister Benjamin Netanyahu faces opposition from far-right coalition partners, with National Security Minister Itamar Ben Gvir threatening to resign if the deal is approved. The agreement, backed by U.S., Qatari, and Egyptian mediators, includes the release of 33 hostages, the gradual withdrawal of Israeli forces, and a significant humanitarian aid influx into Gaza. Future negotiations are planned for a potential permanent ceasefire and full Israeli withdrawal.

Source: Axios

Biden’s Farewell Address Warns of Rising Oligarchy and Tech-Industrial Complex

In his farewell address from the Oval Office, President Joe Biden warned against the rise of an "oligarchy" of ultra-wealthy individuals and a "tech-industrial complex" that threatens democracy. Biden expressed concerns about the concentration of power in the hands of billionaires and tech moguls who have aligned themselves with the incoming administration. He proposed reforms such as tax code changes, campaign finance transparency, Supreme Court term limits, and a ban on congressional stock trading. Biden also criticized social media misinformation and called for a constitutional amendment to remove presidential immunity, referencing a Supreme Court decision that granted Trump broad protections. His speech marked the end of a political career spanning five decades, during which he served as a senator, vice president, and president.

Source: Associated Press

China’s Population Decline Continues, Raising Economic and Social Concerns

China’s population shrank for the third consecutive year in 2024, dropping by 1.39 million people to 1.408 billion. This decline reflects broader global demographic trends, particularly in East Asia, where birth rates are plummeting due to high living costs, career priorities, and changing social attitudes. China's aging population and declining workforce pose significant economic challenges, including pressure on its pension system and labor market. The country’s historical one-child policy, which led to a gender imbalance, continues to have long-term consequences. Government incentives to boost birth rates have had limited success, while urbanization continues at a rapid pace, with 67% of the population now living in cities.

Notes: Over 22% of China’s population is aged 60 or older, a figure expected to exceed 30% by 2035.

Source: Associated Press

American Express to Pay $230 Million Over Deceptive Sales Practices

American Express (Amex) has agreed to pay approximately $230 million in penalties for deceptive sales practices related to small-business credit cards and wire services. The penalties include a $108.7 million civil fine from the Justice Department and a nonprosecution agreement with the Eastern District of New York. The Federal Reserve is also expected to finalize a settlement soon. Investigations, initially uncovered by The Wall Street Journal, found that Amex salespeople misled business owners about card rewards and fees, improperly checked credit reports, and entered fake employer identification numbers to boost sales. Many of these practices were linked to Amex’s aggressive campaign to retain Costco small-business customers after losing its exclusive partnership with the retailer in 2016. Amex has since fired 200 employees and implemented organizational and training changes, stating that these issues ended by 2021.

Sources: CNBC, The Wall Street Journal

SpaceX Successfully Catches Super Heavy Booster but Loses Starship During Flight

SpaceX achieved a major milestone by successfully catching its Super Heavy booster with the launch tower’s “chopstick” arms during Starship’s seventh test flight from Boca Chica, Texas. However, the company lost communication with the Starship spacecraft after separation, with SpaceX later confirming that the vehicle likely experienced a “rapid unscheduled disassembly” during ascent. Debris from the spacecraft was reportedly seen re-entering the atmosphere over the Turks and Caicos Islands. This test flight included several upgrades, such as a redesigned propulsion system, an improved flight computer, and a new heat shield with multiple metallic tile options.

Sources: The Verge, X