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EU considers reviving €93 billion tariff move in response to Trump

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European Union member states are discussing several options for how to respond to President Donald Trump’s latest tariff threat, including imposing retaliatory levies on €93 billion ($108 billion) of US goods, according to people familiar with the talks.

EU ambassadors met Sunday evening in Brussels as they tried to devise a joint response to Trump’s announcement that he would put 10% tariffs on eight European countries on Feb. 1 in relation to their actions in Greenland.

Among the other options being discussed is using a powerful tool known as the anti-coercion instrument, added the people, who asked not to be identified discussing sensitive conversations. French President Emmanuel Macron suggested on Sunday the bloc should consider using that new tool, although France backed away from using it in the past after Trump threatened to retaliate.

Last year, the EU had approved retaliatory tariffs on €93 billion of US products but suspended their implementation after the two sides reached a trade pact. European lawmakers suggested over the weekend that they will hold off on approving that trade pact, citing Trump’s latest move. 

The Financial Times reported earlier on the discussions over reviving retaliatory tariffs.

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Trump’s announcement of new tariffs on Greenland: How are EU allies reacting? | Latest updates on Donald Trump

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United States President Donald Trump has promised to steadily increase tariffs on European countries that have opposed his move to acquire Greenland, escalating a dispute over the semiautonomous Danish territory he has long coveted.

So what is behind Trump’s push to control Greenland, the world’s largest island, and how have Washington’s NATO allies responded?

What is Trump’s tariff threat over Greenland?

In a post on his Truth Social platform on Saturday, Trump wrote that he has subsidised Denmark and other European Union countries by not charging them tariffs.

“Now, after Centuries, it is time for Denmark to give back – World Peace is at stake! China and Russia want Greenland, and there is not a thing that Denmark can do about it.”

Trump added that “the National Security of the United States, and the World at large, is at stake.”

Trump wrote that starting on February 1, Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland will be charged a 10 percent tariff on all their exports to the US.

On June 1, the tariff is to be increased to 25 percent, he said. “This Tariff will be due and payable until such time as a Deal is reached for the Complete and Total purchase of Greenland,” Trump wrote.

Trump additionally wrote: “The United States has been trying to do this transaction for over 150 years. Many Presidents have tried, and for good reason, but Denmark has always refused.”

Is Trump the first US president to seek control of Greenland?

Leaders in Denmark and Greenland have consistently insisted that Greenland is not for sale. In the past few days, Greenlanders have been protesting against Trump’s wishes to acquire Greenland. Yet Trump has pushed for acquiring the Arctic territory since his first term, and he is not the first US president to pursue such a purchase.

After buying Alaska from Russia in 1867, then-Secretary of State William H Seward unsuccessfully sought to buy Greenland. During World War II, the US occupied Greenland after Germany’s invasion of Denmark and built military and radio facilities there. It maintains a permanent presence today at the Pituffik Space Base in the northwest.

In 1946, while Greenland was still a Danish colony, President Harry S Truman secretly offered Denmark $100m for the island, but Copenhagen refused. The proposal became public only in 1991.

American citizens do not support Washington acquiring Greenland, polls have indicated. This week, a Reuters/Ipsos poll of US residents showed less than one in five respondents support the idea of acquiring Greenland.

Why does Trump want Greenland?

The location and natural resources of the island make it strategically important for Washington.

Greenland is geographically part of North America, located between the Arctic Ocean and the North Atlantic Ocean. It is home to 56,000 residents, mostly Indigenous Inuit people.

Greenland’s capital, Nuuk, is closer to New York City – about 2,900km (1,800 miles) away – than the Danish capital, Copenhagen, located 3,500km (2,174 miles) to the east.

It is a NATO territory through Denmark and an EU-associated overseas territory with residents holding EU citizenship.

Its location offers the shortest air and sea routes between North America and Europe, making it strategically vital for US military operations and missile early-warning systems. Washington has also sought more radar coverage around the Greenland-Iceland-UK gap to monitor Russian and Chinese movements.

Greenland is rich in minerals, including most of the EU’s listed “critical raw materials”, but there is no oil and gas extraction, and many Indigenous residents oppose large-scale mining. The economy mainly depends on fishing.

As climate change opens up more of the Arctic, major powers such as the US, Canada, China and Russia are increasingly interested in its untapped resources.

How has Europe responded to Trump’s tariff threats?

All 27 members of the EU will convene for an emergency meeting on Sunday to discuss their response to Trump’s threat.

UK Prime Minister Keir Starmer responded in a post on X on Saturday, saying: “Our position on Greenland is very clear – it is part of the Kingdom of Denmark and its future is a matter for the Greenlanders and the Danes,” Starmer wrote.

“Applying tariffs on allies for pursuing the collective security of NATO allies is completely wrong. We will of course be pursuing this directly with the US administration.”

European Commission President Ursula von der Leyen also responded in an X post, saying: “The EU stands in full solidarity with Denmark and the people of Greenland. Dialogue remains essential, and we are committed to building on the process begun already last week between the Kingdom of Denmark and the US.

“Tariffs would undermine transatlantic relations and risk a dangerous downward spiral. Europe will remain united, coordinated, and committed to upholding its sovereignty.”

European Council President Antonio Costa shared a post identical to von der Leyen’s on his own X account.

EU foreign policy chief Kaja Kallas wrote on X: “China and Russia must be having a field day. They are the ones who benefit from divisions among Allies.”

Kallas added: “Tariffs risk making Europe and the United States poorer and undermine our shared prosperity.”

David van Weel, the foreign minister of the Netherlands, said during an interview on Dutch television on Sunday: “It’s blackmail what he’s doing, … and it’s not necessary. It doesn’t help the alliance [NATO], and it also doesn’t help Greenland.”

Spotify increases subscription price for Premium users in the US and other regions

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Spotify is raising prices for Premium subscribers in the United States, Estonia, and Latvia.

The streaming giant is notifying users this month that monthly subscription costs will increase starting in February 2026.

In the US, monthly subscription costs will rise from $11.99 to $12.99.

The price adjustment comes roughly 18 months after Spotify’s previous US price hike in July 2024, when the Premium tier increased from $10.99 to $11.99.

In communications sent to subscribers, Spotify framed the increase as necessary “to keep delivering a great experience” and enabling the company “to continue offering the best possible experience and benefit artists.”



The move follows a pattern of international price increases that Spotify has implemented across multiple markets over the past year, including the UK, Switzerland and Australia, and various markets across Europe, Latin America, and Asia-Pacific.

The US, the world’s largest recorded music market, represents a critical geography for the company’s financial performance.

As of Q3 2025, Spotify’s global Premium subscriber base reached 281 million paying users, generating quarterly operating income of €582 million ($679.83m), up 33% year-over-year.

The company achieved its first full year of operating profit in 2024, logging €1.4 billion ($1.495 billion) in Operating Income.

The company has consistently signaled that regular pricing adjustments would become an ongoing strategic priority as it pursues sustained profitability.

During the company’s recent Q3 earnings call, Co-Chief Executive Officer Alex Norström addressed questions about pricing strategy.

“We… saw steady retention rates following the rollout of our recent price increases across more than 150 markets. These results show the power of the product and the loyalty of our subscribers,” Norström said on the call.

Asked during the call why Spotify has been raising prices at different rates in different markets, Executive Chairman Daniel Ek stressed that Spotify offers a variety of products in different markets.

“In many markets where we act now, Spotify is not just a music service anymore,” he said. “It is a music, podcast and audiobooks service. In some markets, we haven’t yet gotten to with our audiobooks offering. So as you look at our pricing, we are factoring in the value, not just in music, but in all of the verticals that we act as well.”


Elsewhere, globally, Spotify is dabbling with tiered Premium Pricing.

In November, the company launched a higher-priced Premium Platinum tier in India, Indonesia, Saudi Arabia, South Africa, and the United Arab Emirates.

The new tier, priced at more than double Spotify’s standard offering in these markets, includes lossless audioAI-powered features, and exclusive perks.

In the US, Spotify’s Premium Duo tier is going from $16.99 to $18.99 per month, while the Family plan is rising from $19.99 to $21.99. Spotify’s Student plan in the market is also increasing, from $5.99 to $6.99 per month.Music Business Worldwide

State of catastrophe declared in Ñuble and Biobío regions following deadly Chile fires

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Chilean President Gabriel Boric has declared a state of catastrophe in two regions where deadly wildfires are raging.

At least 16 people are confirmed dead in the Ñuble and Biobío regions, about 500km (300 miles) south of the capital Santiago. At least 20,000 have been evacuated.

The most dangerous fire has swept through dry forests bordering the coastal city of Concepción. About 250 homes have been destroyed, disaster officials said.

Local media show pictures of charred cars in the streets. Chile has experienced a series of devastating fires in recent years, worsened by long-term drought.

Chile’s forestry agency, Conaf, said firefighters were battling a total of 24 fires across the country on Sunday. The most threatening, it added, were in Ñuble and Biobío.

“In light of the serious ongoing wildfires, I have decided to declare a state of catastrophe” in the two regions, Boric said in a post on X. “All resources are available,” he added.

The fires have affected 20,000 hectares (50,000 acres) in the two regions so far, local media say.

The bulk of the evacuations were carried out in the cities of Penco and Lirquen, just north of Concepción, which have a combined population of 60,000.

Strong winds have fanned the flames amid summer temperatures, endangering communities and hampering firefighting efforts.

Much of Chile is under heat alerts, with temperatures expected to reach 38C between Santiago and Biobío in the next two days.

Two years ago, forest fires killed at least 120 people in the Valparaíso region near Santiago.

After facing Ali, Foreman, and Holmes, Ken Norton knew who the best ever was.

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Ken Norton once identified a former opponent as the greatest heavyweight of all time, saying that landing a punch on him was like ‘hitting a piece of cement.’

The former world heavyweight champion was perhaps best known for edging a split decision against Muhammad Ali in 1973, before losing their immediate rematch as well as a third encounter three years later.

Along with Ali, though, the American also locked horns with George Foreman, Larry Holmes and Ernie Shavers, who all got the better of him one way or another.

His clash with Foreman, for instance, ended via a devastating second-round finish, which came around seven months before the knockout artist’s iconic Rumble in the Jungle with Ali.

Against Holmes, it was a far more competitive 15-round battle that saw Norton lose a split decision, before getting wiped out by Shavers – in the first round, no less – just two fights later.

But while Norton faced a selection of formidable heavyweights, most of them in their prime, his trilogy with Ali was ultimately enough to determine who, in his view, was the very best.

Speaking with ESPN Radio before his passing in 2013, the Jacksonville man insisted that Ali was also the strongest opponent he faced, thus justifying his reasoning for highlighting him as the greatest heavyweight of all time.

“As far as I’ve been around, yes [Ali is the best ever]. Ali was very strong but because he wasn’t a one-punch KO artist, [his strength] is overlooked. Hitting Ali in the body or on the arms was like hitting a piece of cement.”

The fact that Norton fought Ali and Foreman so soon before their encounter in 1974 should indicate that he, more than most, would have known exactly what the two heavyweights were capable of.

Not only that, but a total of 39 rounds shared with Ali, specifically, would have given Norton a firm understanding of just how great he truly was.

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Is the global humanitarian system failing? A look at the Russia-Ukraine war with Jagan Chapagain

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International Federation of Red Cross and Red Crescent Societies chief on US aid cuts, attacks on aid workers and whether neutrality can survive modern wars.

As wars intensify and donor funding dries up, the global humanitarian system is under unprecedented strain. Jagan Chapagain, secretary-general of the International Federation of Red Cross and Red Crescent Societies, warns that life-saving operations are being scaled back just as needs explode from Gaza and Sudan to Ukraine and climate-driven disasters worldwide. He addresses United States and European aid cuts, attacks on humanitarian workers, the erosion of international law, and whether neutrality and protection still mean anything in today’s conflicts.

World leaders exercise caution regarding Trump’s expanded ‘board of peace’ amidst concerns for the U.N.

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World leaders show caution on Trump’s broader ’board of peace’ amid fears for U.N

Syrian forces capture the largest oil field in the country from Kurdish forces

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Syrian troops fighting Kurdish forces in north-eastern Syria have seized the country’s largest oilfield.

The Omar facility and nearby gas fields are under army control after the Kurdish-led Syrian Democratic Forces (SDF) pulled back, officials and monitors say. Earlier the army captured the strategic Tabqa dam on the Euphrates river.

The push came after the SDF announced it would redeploy east of the Euphrates, following deadly clashes last week. That withdrawal followed talks with US officials.

Ongoing fighting in the area stems from the breakdown of an agreement between SDF and the government of President Ahmed al-Sharaa, who is seeking to integrate Kurdish bodies into Syrian institutions.

On Friday, in an apparent good-will gesture, al-Sharaa said he would make Kurdish a national language and make the Kurdish new year an official holiday. The decree is the first formal recognition of Kurdish national rights since Syria’s independence in 1946.

The US-backed SDF then announced its pullout east of the Euphrates river.

Kurdish forces have been controlling swathes of Syria’s oil-rich north and north-east, much of it gained during the fight against the Islamic State group over the past decade.

Over the weekend, Syrian troops continued their eastward push. They entered the town of Tabqa on the south-western bank of the Euphrates and nearby dam on Saturday.

On Sunday, Syrian officials announced they had seized Omar, Syria’s largest oil field, on the eastern side of the river. The facility has been a major source of revenue for the SDF.

This claim was supported by the Syrian Observatory for Human Rights, a UK-based monitoring group. It said the SDF had withdrawn from “entire villages and towns of the eastern countryside of Deir Ezzor [province]” as well as the Omar and Tanak oil fields early on Sunday.

Meanwhile Syrian authorities accused the SDF of blowing up two bridges on the Euphrates River, including the new al-Rashid bridge in the city of Raqqa.

Last week at least 12 people were reported killed in clashes between the two sides in the northern city of Aleppo.

The latest fighting comes despite attempts by the US to broker a ceasefire. Washington has long backed the SDF, but it also supports the Syrian government.

Following the ousting of longtime strongman Bashar al-Assad in late 2024, President al-Sharaa has been seeking to integrate Kurdish military and civilian bodies into Syria’s national institutions.

In March 2025, the SDF signed a deal with the government to that effect. Almost a year on, the agreement is still not implemented, with each side blaming the other.

Serial Investor Advises Against Buying a House for Financial Independence at a Young Age

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Considering home prices are 50% higher than before the pandemic, mortgage rates remain stubbornly high in the 6% range, and everything feels more expensive thanks to inflation and tariffs, home ownership feels largely out of reach for many younger Americans. 

But one serial investor says that opting for renting instead of home ownership may not be as bad of an idea as some people think, despite it being the quintessential American Dream.

“If your goal is to become financially independent at a young age, you probably don’t want to go buy a house—but it’s a very controversial thing to say,” JL Collins told The Diary of a CEO podcast in an episode published Jan. 12. 

Collins, the best-selling author of Pathfinders and The Simple Path to Wealth, said the reasoning is simple: Buying a home “dramtically inflate[s]” your cost of living. While your mortgage payment and rent payment may be similar on paper, owning a home ends up costing more in the long run and comes with unexpected expenses—often referred to as the “hidden costs” of homeownership, like insurance, repairs, and updates. 

“You have the expenses of maintaining it, paying the taxes on it, blah, blah, blah,” he said. “If you stay in an apartment that is just enough to meet your needs—which, by the way, is what my daughter has done and continues to do—your costs will be lower.”

In fact, a LendingTree study also published this week shows renting is cheaper than owning in every large U.S. metro, with U.S. homeowners paying 36.9% more a month on their mortgage payment than renters. To put that in perspective, the median monthly gross rent was $1,487 in 2024, according to LendingTree, while the median monthly housing costs for homeowners with a mortgage was $2,035. That’s nearly $550 more per month for owning a home, amounting to a difference of more than $6,500 annually.

And that cost difference makes buying a home just another “expensive indulgence,” Collins argued.

“People typically buy the most house they can possibly afford. The industry drives them that way,” Collins said. “You’re going to wind up with a house that’s going to be a burden. You are not buying it from a position of strength. You are stretching to buy it. You are borrowing the most money a bank’s willing to give you.”

To be sure, Collins would know about the costs of home ownership—he’s owned homes for most of his adult life, he said. And on top of a mortgage, homeowners should expect paying for furniture, new appliances, landscaping, taxes, and maintenance. 

“The list is endless,” he said. “Your mortgage is just the starting point.”

Matt Schultz, LendingTree’s chief consumer finance analyst, said in a statement shared with Fortune he understands those figures can be discouraging for people hoping for home ownership.

“Some people are becoming resigned to the fact that they’ll never be able to own a home,” he said. “That sort of decision has massive ramifications, not just for individuals but for the economy as a whole. Unfortunately, however, that doesn’t seem likely to change anytime soon.”

That’s in line with what other housing market experts and economists have predicted about the housing market for this year. While mortgage rates might drop slightly, the hidden costs of home ownership remain—and home prices aren’t going to drop enough to make a significant difference.

According to Realtor.com data shared with Fortune, at least one of three things would need to happen to make buying a house in the U.S. more affordable for the average person: Mortgage rates would need to fall to 2.65%; median household income would need to rise by 56%; or home prices would need to decline by 35%. Each of these scenarios is unlikely to happen.

“We’re in a tough spot,” Max Slyusarchuk, CEO of A&D Mortgage, previously told Fortune.. “The moment you make strides in any of these factors, what happens? More people are in the market buying and selling homes, which in turn increases the demand, which raises prices back up.”