American officials said that they do not expect there to be any survivors of a mid-air collision in Washington, DC. On Thursday a regional passenger plane carrying 64 people hit a military helicopter and crashed into the Potomac river. Nearly 30 bodies have been pulled from the water. Several American figure skaters were on the plane; the Kremlin confirmed that Russian citizens were also on board.
Israel was due to release 110 Palestinian prisoners as part of the ceasefire deal, but suspended the exchange until “further notice”. Earlier, Hamas freed eight hostages—three Israelis and five Thais—in a chaotic handover. The pause raised concerns over the fragile truce. On Wednesday Hamas accused Israel of delaying aid deliveries, which Israel denied.
Norway’s government collapsed after the Centre Party pulled out of a two-party coalition over a disagreement about implementing EU energy policy. Although Norway is not in the EU, it is a member of the European Economic Area, an agreement which the Centre Party opposes. The Labour Party, which pushed to implement three energy directives, will now govern the country alone until elections in September.
The European Central Bank cut interest rates by a quarter of a percentage point to 2.75%, the fifth cut since June. The eurozone economy stagnated in the fourth quarter, raising concerns over sluggish growth. Inflation remains elevated, but in a statement on Thursday the ECB said it expected the inflation rate to fall to its 2% target in 2025.
SoftBank is reportedly considering investing up to $25bn in OpenAI. The deal would make the Japanese investment group the biggest backer of the artificial-intelligence firm. Last week the companies said they would work together to build Stargate, a massive data-centre project. SoftBank’s investment of $25bn would be in addition to its commitment to spend more than $15bn on Stargate.
President Donald Trump ordered the construction of a migrant detention camp in America’s naval base in Guantánamo Bay, Cuba. Mr Trump said the facility would be used to house around 30,000 of the “worst criminal illegal aliens threatening the American people”. Earlier his administration rescinded an order to freeze federal aid funding. The order sparked confusion among those relying on federal grants, including non-profits and schools.
Deutsche Bank’s profits plunged in the final quarter of 2024, with net income falling 92% year on year to €106m, well below analysts’ expectations. Germany’s largest lender blamed the hit on an increase in litigation costs. Loan losses also exceeded forecasts. Revenue rose 8% year on year, driven by a revival in investment banking activity. Shares fell by 6% on the news.
Figure of the day: 49%, the share of Republicans who trust the Centres for Disease Control and Prevention, compared with 88% of Democrats. Read the full story.
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