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Global Concerns Rise as "Doomsday Clock" Nears Midnight; UPS Announces Job Cuts Amidst Economic Uncertainty

A confluence of events, ranging from escalating global tensions to economic shifts, dominated headlines on Tuesday. The "Doomsday Clock," a symbolic representation of humanity's proximity to self-annihilation, was moved to 85 seconds to midnight, the closest it has been since its inception, according to the Bulletin of the Atomic Scientists. Simultaneously, United Parcel Service (UPS) announced plans to reduce its workforce by up to 30,000 positions this year as part of a cost-cutting initiative.

Alexandra Bell, president and CEO of the Bulletin of the Atomic Scientists, stated that "Humanity has not made sufficient progress on the existential risks that endanger us all." The organization cited nuclear weapons, climate change, and disruptive technologies as key factors contributing to the heightened risk. Last year, the clock was set at 89 seconds to midnight. Daniel Holz, chair of the Bulletin’s science and security board, emphasized the urgency, stating, "Every second counts, and we are running out of time."

Adding to the economic anxieties, UPS CFO Brian Dykes announced the company's plan to reduce operational positions by up to 30,000. "This will be accomplished through attrition, and we expect to offer a second voluntary separation program for full-time drivers," Dykes said during an earnings call. The company also plans to close two dozen buildings in the first half of 2026 and implement automation across its network. UPS, which is based in Atlanta, currently employs 490,000 people worldwide.

Meanwhile, in the realm of international affairs, the mayor of Milan, Giuseppe Sala, voiced strong opposition to the potential involvement of U.S. Immigration and Customs Enforcement (ICE) agents in security for the upcoming Winter Olympic Games, scheduled to begin in Milan on February 6. Sala described ICE as "a militia that kills" and asserted that its agents are "not welcome in Milan." In response, the U.S. State Department stated that its Diplomatic Security Service is leading the U.S. security effort at the games, with multiple federal agencies involved, as in previous Olympic events.

In other news, the families of two Trinidadian men killed in a U.S. missile strike on a boat in the Caribbean in October 2025 filed a lawsuit against the U.S. government. The complaint, filed in the U.S. District Court for the District of Massachusetts, argues that the killings of Chad Joseph and Rishi Samaroo "lack any plausible legal justification." The strike was part of the Trump administration's campaign against alleged drug-trafficking boats in the Caribbean and eastern Pacific.

Domestically, the Federal Reserve is scheduled to meet on Wednesday for its first interest rate decision of 2026. While President Trump has urged the central bank to lower interest rates, economists anticipate that the Fed will maintain the federal funds rate in its current range of 3.5 to 3.75 percent. This decision comes amid an ongoing Department of Justice investigation into Fed Chair Jerome Powell related to the renovation of the central bank's historic buildings. Powell has characterized the probe as a pretext for weakening the Fed.