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The article discusses how Donald Trump's tariffs have failed to revive American manufacturing as promised. Despite various justifications for the tariffs, the notion that they would inspire a revival in American manufacturing remained central. However, the article suggests that the tariffs have actually hurt the factories they were meant to protect. The article is part of the Finance & economics section of The Economist.

The Chinese property market has been in crisis since 2021, and analysts are finding it increasingly difficult to track its woes due to government censorship. The government has been suppressing negative information on social media and pressuring estate agents to keep unfavorable data under wraps. Two major private sources of property data stopped providing monthly home-sales figures in November, reportedly at the government's command. The article suggests that China's property woes could last until 2030. The government's efforts to control the narrative have made it challenging for analysts to understand the true state of the property market. The crisis has significant implications for the Chinese economy and the global financial system.

The article discusses the optimism among investors heading into 2026, with few expecting a market crash. Professionals are paid to predict the future, but individual investors can adopt a buy-and-hold strategy. The article explores the prospects for 2026 and the factors that may influence the market.

The article discusses whether it is better to rent or buy a home, with a focus on the impact of long-term interest rates. The decision to rent or buy is influenced by various factors, including economic conditions and personal financial situations. The article references President Herbert Hoover's advocacy for mass homeownership in the United States and notes that the answer to the question depends on various economic factors, including interest rates.

A year after wildfires devastated Los Angeles County, the recovery process is underway but faces numerous challenges. The fires killed 31 people and destroyed over 16,000 buildings, with Altadena, Pacific Palisades, and parts of Malibu being particularly affected. While some wealthy residents are rebuilding luxury homes, many others struggle to afford reconstruction. The disaster has highlighted issues with home insurance and investor-owned utilities, with many residents underinsured or losing coverage. The recovery is also marred by controversy over developer involvement and government response. The state's insurance commissioner has taken steps to stabilize the FAIR plan, but long-term solutions are needed. The disaster has also sparked political tensions, with survivors criticizing the government's response and worrying about the impact of political feuds on aid.

The article discusses the indictment of Venezuelan dictator Nicolás Maduro on drug-trafficking charges in 2020 and assesses the likelihood of him facing justice. Despite having credible legal defenses, Maduro's best chance of avoiding prosecution may lie in diplomacy. The article highlights the symbolic nature of indicting foreign leaders who are beyond the reach of the law, comparing Maduro to other figures like Russian hackers and Iranian sanctions-busters.

The article discusses RedBird, a relatively small investment firm with $12 billion in assets under management, which has been involved in significant media deals. Notably, RedBird backed Paramount's hostile $108 billion bid for Warner Bros Discovery alongside other major investors such as Apollo and several Gulf sovereign-wealth funds. The firm's involvement in such large-scale transactions highlights its growing influence in the media and finance sectors.

The article discusses Donald Trump's peculiar political appeal, which is rooted in his radical honesty about the world's workings. Despite lying frequently, Trump's blunt statements about politicians being corrupted by big donations and the harsh realities of international politics resonate with his supporters. The article argues that Trump's honesty, although often transgressive, will be missed in American foreign policy, particularly his willingness to acknowledge the self-interest and corruption that underlies international relations.

China has developed a smart power grid technology that can recover from blackouts in 0.1 seconds, a significant improvement from the previous recovery time of hours. The technology, developed by the China Electric Power Research Institute, has been deployed across China and exported to 12 nations. It enables power grid faults to be isolated and restored within a hundred-millisecond window and solves the problem of identifying micro-current faults. The innovation is expected to play a crucial role in ensuring the safe and stable distribution of electricity worldwide, particularly with the increasing use of distributed power sources such as wind farms and solar plants.

Chinese scientists have developed a new method to extract gold from electronic waste at a cost less than a third of the current market price. The method can extract precious metals from discarded CPUs and PCBs in less than 20 minutes with a gold leaching efficiency of over 98.2% and a palladium extraction rate of 93.4%. This breakthrough technology offers a potentially game-changing solution to both resource scarcity and environmental harm, making e-waste gold recycling a lucrative business. China's significant e-waste production makes this innovation particularly relevant.

China's Ministry of Commerce is set to review and investigate Meta's acquisition of Manus, an artificial intelligence developer with Chinese roots, over concerns that the deal may breach technology export controls and encourage more start-ups to relocate offshore. The probe is part of China's efforts to regulate foreign acquisitions and prevent the outflow of sensitive technology. The acquisition has raised concerns among Chinese authorities that it could compromise the country's tech export controls and lead to more start-ups relocating abroad. The investigation is ongoing, and the outcome is expected to have implications for future foreign acquisitions in China's tech sector.

Victor Dawes, former chairman of the Hong Kong Bar Association, has been appointed lead counsel to an independent committee investigating the city's deadliest fire in decades at Wang Fuk Court in Tai Po. The inquiry is expected to begin in the first quarter of 2026. Dawes was appointed along with four other lawyers: S.W. Lee, Jason Yu, Brian Lee, and Jonathan Fung. The committee is led by Justice David Lok Kai-hong, who signed the letter dated January 6, 2026. Preparation work for the hearing has been underway at full force, with the target to start the hearing within the first quarter of this year.

Malaysia is strengthening its ties with Turkey amid rising tensions with the US, driven by US tariffs and military aggression. Malaysian Prime Minister Anwar Ibrahim's visit to Turkey resulted in the establishment of a High Level Strategic Cooperation Council to enhance diplomatic and economic cooperation. Experts say this move reflects a growing trend among developing nations to seek more reliable partners in the face of US unpredictability.

A severe heatwave is expected to hit most of Australia, with 'catastrophic' fire conditions forecast for parts of the country on Friday. The state of Victoria has declared a total fire ban, with 450 schools and childcare centres closed. Firefighters are battling several blazes in Victoria and New South Wales, with temperatures expected to soar to record highs in several regions. Meteorologists warn that the combination of heatwaves and elevated fire danger could create the most significant conditions since the devastating Black Summer bushfires in 2019-2020.

Rare mountain gorilla twins were born in Virunga National Park in the Democratic Republic of Congo. The twins, both males, were born to 22-year-old Mafuko, who has a history of survival after losing her mother to armed attackers at a young age. Twin births are rare among mountain gorillas, accounting for about 1% of all births. Conservationists are closely monitoring the mother and twins to ensure their survival. The birth is considered a significant boost to efforts to protect the endangered species, whose numbers have been increasing in Virunga National Park thanks to anti-poaching patrols and community programs.

Russian attacks have left Ukraine's southeastern regions of Dnipropetrovsk and Zaporizhzhia with widespread power blackouts, affecting critical infrastructure, water supplies, and internet connectivity. Ukraine's energy ministry reported that the regions were almost entirely without power, with critical infrastructure operating on reserve power. The attacks have coincided with harsh winter weather, with temperatures plunging. Ukrainian officials, including Prime Minister Yulia Svyrydenko and Dnipro city Mayor Borys Filatov, have reported on the situation, with efforts underway to restore power and maintain essential services. The attacks are part of a broader pattern of Russian aggression against Ukraine's energy infrastructure, with Ukraine's biggest private energy provider, DTEK, operating in 'permanent crisis mode'. Ukrainian President Volodymyr Zelensky has expressed concerns about the lack of clear security guarantees from European allies in the event of further Russian aggression.

Reality TV star Spencer Pratt has announced his candidacy for mayor of Los Angeles, vowing to 'expose the system' on the anniversary of the Palisades Fire that destroyed his home. Pratt, 42, made the announcement at a 'They Let Us Burn' rally organized by residents who lost houses in the fire. He has been a vocal critic of Los Angeles Mayor Karen Bass and California Governor Gavin Newsom over their handling of the disaster. Pratt's longshot bid for city hall comes in a crowded field for June's non-partisan mayoral primary, with over a dozen other candidates, including incumbent Mayor Bass, seeking election.

The article discusses Ashley Tisdale's recent essay about leaving her 'toxic' mommy group, which includes celebrities like Hilary Duff, Mandy Moore, and Meghan Trainor. The author criticizes Tisdale's essay for being needy, narcissistic, and boring, and argues that it reveals the fragility of celebrities and the phony lives they project online. The article also notes that Tisdale's group has been using social media to promote their personal lives and businesses, and that they are more focused on maintaining their online image than on genuine friendships. The author concludes that the drama surrounding Tisdale's essay is a result of the desperation of C-list celebrities to stay relevant online.

The CDC has revised its childhood vaccine schedule, sparking intense debate. Critics accuse the CDC of capitulating to conspiracy theorists, while the author argues that the changes reflect a more nuanced approach to vaccination, acknowledging that one size does not fit all. The revised schedule allows for more flexibility and choice, reassigning non-consensus vaccines to high-risk groups and promoting shared clinical decision-making. The author, a self-described pro-vaccine champion, believes that this shift is a positive step towards earning trust through transparency and respect, rather than coercion.

Olympic gold medalist Oksana Baiul has lost custody of her 10-year-old daughter Sophia to her estranged husband Carlo Farina after their divorce was finalized. The couple, who were married for 13 years, had a contentious divorce with both parties making allegations against each other. As part of the divorce agreement, Farina was granted primary custody of Sophia and will be allowed to relocate with her to Las Vegas. Baiul will not have to pay child support but has agreed to enroll in anger management classes and undergo alcohol and drug testing. Baiul has expressed her devastation and pain on social media, stating that she wants to protect her daughter from the negativity surrounding their divorce.

The owners of a Swiss nightclub, Le Constellation, are accused of fleeing with cash and destroying evidence after a deadly New Year's Eve fire killed 40 people and injured 119 others. Jessica Moretti, 40, allegedly abandoned patrons while carrying the cash register, and both she and her husband Jacques Moretti, 49, are under investigation for manslaughter and causing bodily harm. The couple is also accused of blocking social media accounts and taking their website offline during the rescue operations, potentially destroying evidence. Lawyers representing victims have criticized prosecutors for not keeping the Morettis in custody, warning they could flee to France to avoid trial. Jacques Moretti has an extensive criminal history in France, including cases of pimping, kidnapping, and false imprisonment.

A psychologist shares three tips to fully unwind on a trip: slowing down before the trip, following your own pace, and detaching from 'work self'. Entrepreneurs and parents share their experiences on how they manage to relax and recharge on holidays.

Meta's $2 billion acquisition of AI startup Manus is being investigated by China's Ministry of Commerce for potential violations of export control laws and regulations. The acquisition, which was completed last month, is part of Meta's efforts to integrate advanced automation into its consumer and enterprise products. China's investigation will assess the deal's compliance with laws related to export controls, technology import and export, and overseas investment. Meta has been contacted for comment, and the story is developing.

Zhipu, a Chinese AI startup backed by Beijing, has gone public on the Hong Kong stock exchange, marking the first major Chinese large language model (LLM) developer to do so. The company's IPO raised $558 million, valuing it at around $550 million. Zhipu is considered one of China's 'AI tigers,' a group of startups building LLMs to rival American AI giants like OpenAI. Despite being placed on the US Commerce Department's Entity List and facing US restrictions on access to advanced semiconductor technology, Zhipu has made significant progress, with revenue of 312.4 million yuan in 2024. The company plans to use 70% of the IPO proceeds towards research and development of its general-purpose large AI models.

Cuba's communist government announced that 32 of its military personnel were killed during a US military operation to capture former Venezuelan leader Nicolás Maduro. The Cuban government released a statement condemning the US action as an 'act of aggression' and 'state terrorism.' The deceased personnel were part of a mission carried out at the request of Venezuela's government and included colonels, lieutenants, majors, and captains. Cuba has declared two days of mourning for the deceased. The US has stated that Cuban officials were part of Maduro's security detail, with Secretary of State Marco Rubio saying that Venezuela's spy agency was 'basically full of Cubans.' The incident has heightened tensions between the US and Cuba, with Cuban Foreign Minister Bruno Rodríguez stating that Cubans were 'prepared to give their lives' against any US intervention.

Pope Leo XIV closed the Catholic Church's Holy Year, urging Christians to help those in need and treat foreigners with kindness. The Holy Year, which drew a record 33.5 million pilgrims to Rome, is a time of peace, forgiveness, and pardon. Pope Leo XIV emphasized the importance of caring for immigrants and criticized the global economic system for turning human yearnings into a business. The next Holy Year is not expected before 2033.

Hungarian Prime Minister Viktor Orbán has claimed that Budapest is the safest city for Jews in Europe, citing zero tolerance for antisemitism and no hate crimes or violent migrants. His statement was backed by Israeli Diaspora Affairs Minister Amichai Chikli, who praised Hungary's responsible immigration policy and uncompromising stance against antisemitism. The claims come amid a report by the Anti-Defamation League (ADL) that antisemitism is escalating in Europe, with a surge in harassment, vandalism, threats, and physical attacks across multiple countries. Hungary has a complex history with the Holocaust, having had one of Europe's largest Jewish populations before World War II, and Orbán's government has faced accusations of antisemitism despite its close ties with Israel and public opposition to antisemitic violence.

The funeral of French movie and style icon Brigitte Bardot was held in Saint-Tropez on January 7, 2026, following her death on December 28 at the age of 91. The private service was attended by family, friends, and notable figures including Marine Le Pen and Paul Watson. Bardot was remembered for her iconic film career and her later work as an animal rights activist. Hundreds gathered to pay their respects as the funeral procession passed through the streets, and a public homage was held at a nearby site. Bardot was buried in a private ceremony at a cemetery overlooking the Mediterranean Sea.

A Turkish national, Adem Savas, has been jailed for 11 years and fined €400,000 for supplying thousands of small boats and engines to people smugglers who used them to transport asylum seekers across the English Channel. Savas was identified by the UK's National Crime Agency (NCA) after an investigation into Kurdish crime boss Hewa Rahimpur, who headed a major Europe-wide smuggling ring. Savas shipped boats from Turkey, stored them in Germany, and transported them to northern France. The NCA believes he supplied equipment used in half of all Channel crossings in 2023 and made millions charging around £4,000 for packages of boats and engines. The conviction is seen as a major success for police, but Savas has likely been replaced, and the smuggling industry continues to thrive.

The mayor of Crans-Montana, Switzerland, has banned sparkler candles in the town's venues after a New Year's Day fire at Le Constellation bar killed 40 people and injured 116. The fire, blamed on sparkler candles, highlighted lax safety inspections, with the bar not having been inspected since 2019. The town's mayor apologized, and an external firm will inspect all public establishments. The managers of Le Constellation are suspected of involuntary homicide and face a criminal investigation.

Rep. Steny Hoyer, the longest-serving Democrat in Congress, has announced his retirement at the end of his term. Hoyer, who has served since 1981 and was a key figure in Democratic leadership, has been instrumental in passing significant legislation, including the Affordable Care Act. His retirement marks the end of an era for senior Democratic leaders and paves the way for new lawmakers to take on governing roles. Hoyer has worked closely with Speaker Emerita Nancy Pelosi and has been a key partner in shaping the Democratic agenda. His 'Make it in America' agenda aimed to boost industry and jobs. With his retirement, Democrats face a changing landscape ahead of the midterm elections.

A severe snowstorm and icy conditions have caused widespread disruptions across Europe, grounding hundreds of flights and choking highways and railroads. Over 1,000 passengers spent the night at Amsterdam's Schiphol Airport, where at least 800 flights were canceled. The Dutch rail and road networks were severely affected, with over 700 kilometers of traffic jams. France also experienced significant disruptions, with more than 100 flights canceled at Paris Charles de Gaulle airport and bus traffic suspended in Paris. Other countries, including Sweden and Finland, reported problems due to the harsh winter weather. The disruptions were not limited to transportation, as thousands of households in Berlin were still without electricity following a suspected far-left attack on high-voltage lines.

The Indicator from Planet Money is a daily podcast that provides insights into the world of economics, business, and finance. Recent episodes have covered various topics such as Venezuela's oil industry, grocery prices, cocaine smuggling, and China's boycott of Japan. The podcast analyzes the complexities of these issues and provides expert analysis.

The funeral of French actress and animal rights activist Brigitte Bardot was held in Saint-Tropez, France, with hundreds attending to pay their respects. Bardot passed away on December 28 at the age of 91 due to cancer. The private service was attended by her family and close friends, while a public homage was held for admirers. Bardot was known for her iconic film career in the 1960s and her later work as an animal rights activist.

Indonesian rescuers have found a sunken tourist boat and recovered a body believed to be one of the missing Spanish victims, a day after the search area was expanded. The boat sank on December 26 in the Padar Island Strait, near Komodo National Park, with 11 people on board. Seven were rescued, while four - a Spanish soccer coach and his three children - were declared missing. The coach's body and one of his daughters were previously recovered. The search continues for the last missing victim, a boy from the same family.

NASA has postponed a scheduled spacewalk due to a 'medical concern' with one of the astronauts. The space agency did not provide further details about the issue or name the astronaut involved, citing medical privacy. The spacewalk was to be conducted by NASA astronauts Mike Fincke and Zena Cardman, who were to exit an airlock aboard the International Space Station to finish preparing a power channel for a new solar array. This is not the first time a medical issue has affected astronauts; conditions such as space adaptation syndrome and jugular venous thrombosis have been reported in the past. NASA will share additional details, including a new date for the spacewalk, later.

The article explores the enduring popularity of Tamagotchis, a digital pet toy that was first released in 1996. Despite the initial craze dying down, the toy has maintained a dedicated fan base, with enthusiasts continuing to collect and play with new models. The article highlights the Tamagotchi's influence on modern interactive devices and its therapeutic effects, with fans citing its ability to provide a sense of structure and routine. The toy's 30th anniversary is being celebrated with various events, including an exhibition in Tokyo and collaborations with fashion brands. Fans have also created online content around the toy, sharing tutorials and customizations.

The article discusses how climate change is affecting Bangladesh, particularly in the low-lying coastal regions, leading to increased frequency and severity of natural disasters such as floods and storms. This has resulted in many young people, like 24-year-old Md Emran Hosain, leaving their homes and families to work abroad in countries like Singapore to rebuild their lives and support their families. The article highlights the devastating impact of climate change on Bangladesh's agrarian economy and the displacement of millions of people, with predictions that one in seven Bangladeshis will be displaced by 2050.

The article discusses how Trump's trade war and tariffs imposed on Chinese imports have affected America's toy industry, particularly small businesses. Jennifer Bergman, owner of West Side Kids toy store in Manhattan, struggled to keep her store open due to increased costs from tariffs. Despite assurances from suppliers that prices would remain low, they increased significantly, forcing Bergman to close her store. The tariffs have created a split in the Christmas economy, with big-box retailers like Walmart and Target able to absorb the costs, while small businesses suffer. The article highlights the impact of the trade war on small toy retailers and the wider toy industry, which employs nearly 700,000 people.

French farmers protested in Paris against the EU-Mercosur free trade agreement and the government's handling of a cattle disease, blockading landmarks and sparking a government rebuke. The protest comes as the EU is poised to approve the trade deal, despite opposition from farmers who fear it will lead to unfair competition and cheaper imports. The farmers are also demanding an end to cow culling and advocating for vaccination instead.

The US carried out airstrikes on Christmas Day 2025 in north-west Nigeria, targeting the Islamist group Lakurawa, which is believed to be linked to Islamic State. Two weeks on, questions remain over the operation's impact and the specific group targeted. The US and Nigerian governments have shared very little information about the strikes, with the US Africa Command stating that 'multiple Isis terrorists were killed in the Isis camps.' Residents and researchers have provided conflicting reports on the number of casualties and the effectiveness of the strikes. The operation has raised questions about the US's motivations, with some suggesting it was a symbolic target to appease Trump's evangelical base.