EU and India Sign Landmark Trade Deal Amidst Other Global Economic and Tech Developments
Brussels – The European Union and India finalized a significant trade agreement on January 27, 2026, hailed by India's Prime Minister Narendra Modi as "the mother of all deals," according to NPR Politics. The agreement aims to bolster trade between the two entities, with the EU seeking to hedge against unpredictable ties with the United States.
This development occurred amidst a backdrop of other notable events in the tech and economic sectors. In the United Kingdom, Elon Musk's social media platform X experienced a substantial decline in revenue. Financial disclosures filed with Companies House revealed a 58% revenue collapse in X's U.K. operations during 2024, a drop from £95.2 million in 2023 to £39.8 million, Fortune reported. This decline reflects a continued exodus of advertisers concerned about the brand and its owner, according to Fortune.
Meanwhile, TikTok reached a settlement just hours before a landmark social media addiction trial was set to begin in California, according to Hacker News. The plaintiff, a 20-year-old woman identified as KGM, alleged that the design of the platform's algorithms led to her addiction and negatively impacted her mental health. The Social Media Victims Law Center stated that the terms of the settlement were confidential, according to Hacker News. Meta, which owns Instagram and Facebook, and YouTube were also defendants in the case.
In the realm of cryptocurrency, allegations surfaced regarding the theft of $90 million in seized U.S.-controlled crypto assets. Hacker News reported that a crypto sleuth known as zachxbt linked an online persona named "Lick" to the theft, which included a $20 million theft reported in October 2024. Zachxbt alleged that "Lick" is a man named John Daghita, reportedly the son of Dean Daghita, a government crypto contractor.
Also, at the World Economic Forum in Davos, Switzerland, Anthropic CEO Dario Amodei's warnings about AI's catastrophic risks were a major topic of discussion, according to Fortune. Amodei published a 20,000-word essay titled "The Adolescence of Technology," reiterating previous concerns. However, other CEOs at Davos suggested that AI is not coming for jobs as quickly as Amodei believes, according to Fortune.
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