Partial Government Shutdown Looms as Senate Deadlocks Over Immigration Enforcement
Washington D.C. - The Senate is edging closer to a partial government shutdown later this week, driven by a political rupture over immigration enforcement and the funding of the Department of Homeland Security, according to Time. With funding for a large share of the federal government set to expire after midnight on Friday, Republicans and Democrats remain deadlocked over a sprawling six-bill appropriations package that the House sent to the Senate, which includes money for Homeland Security.
In the aftermath of Saturday's deadly shooting in Minneapolis involving federal immigration agents, Democrats are demanding changes to that portion of the bill and signaling they are prepared to let funding lapse if those demands are ignored, Time reported. Senate leaders spoke in careful, almost rehearsed tones on Tuesday as the situation escalated.
GM Shares Surge Despite $7.6 Billion EV Write-Down
Detroit - General Motors (GM) shares surged as much as 9% on Tuesday, adding over $7 billion to the company's market capitalization, after the Detroit automaker reported earnings, according to Fortune. Despite disclosing a massive $7.6 billion write-down on its electric vehicle ambitions, GM wowed investors with blockbuster cash generation, fatter shareholder payouts, and a confident outlook for 2026.
The Detroit giant, long seen as the standard-bearer for traditional U.S. carmaking, reported 2025 adjusted EBIT of $12.7 billion, landing at the high end of its guidance range, and $10.6 billion in adjusted automotive free cash flow, Fortune reported. GM also said 2025 marked its highest U.S. market share in a decade and its fourth straight year of share gains, supported by low dealer inventories and low incentives.
X Revenue Plummets in the UK
London - Elon Musk's social media platform X suffered a 58% revenue collapse in its U.K. operations during 2024, according to financial disclosures newly filed with Companies House, Fortune reported. The U.K. arm of X reported revenue of just £39.8 million for the year ending Dec. 31, 2024, down from £95.2 million in 2023.
The stark decline represents the continuation of a catastrophic advertising exodus, as advertisers continue to flee amid concerns about the brand and its billionaire owner, Fortune reported. Since Musk acquired X in 2022 and took the company private, financial disclosures from the company have been few and far between. The 2024 financial documents from the U.K. are the most recent insight into the social media company's financial performance.
Carney's Popularity Rises After Davos Spat with Trump
Davos, Switzerland - Following a heated back-and-forth between Canadian Prime Minister Mark Carney and President Donald Trump during the World Economic Forum in Davos, Switzerland, support for the Canadian leader has swelled, while Trump's already-underwater approval has further declined, according to Time.
Without explicitly naming Trump, Carney denounced American hegemony and declared a rupture in the old world order during a headline-grabbing speech at the World Economic Forum in Davos that appeared to make pointed reference to the current U.S. Administration, Time reported. The words sparked ire from Trump, who told an audience at Davos that "Canada lives because of the United States. Remember that, Mark, next time you make your statements." But Carney has rejected that assertion and said he stands by what he said in Switzerland and his pushback.
China's AI Industry Gains Recognition
Guangzhou, China - China's AI industry is gaining recognition, exemplified by the unveiling of XPeng's humanoid robot, IRON, according to Time. He Xiaopeng, the founder and CEO of Chinese physical AI firm XPeng, debuted his new humanoid robot, IRON, whose balance, posture shifts, and coquettish swagger mirrored human motion with such eerie precision that a slew of netizens accused him of faking the demonstration by putting a human in a bodysuit.
To silence the naysayers, He boldly cut open the robot's leg live on stage to reveal the intricate mechanical systems that allow it to adapt to uneven surfaces and maintain stability just like the human body, Time reported. "At first, it made me sad," He told TIME in his Guangzhou headquarters. "The robot is like our classmate, our child. But later, I was proud."
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