UK - We are already getting close to the €100 billion (£87 billion) mark and the total is still rising. Stellantis – the company that controls Fiat, Peugeot and Chrysler – announced on Friday that it was writing down €22 billion on its electric vehicle unit. The bill is only the latest in a series of enormous losses suffered by the major American and European auto manufacturers who jumped on the EV bandwagon. In reality, it turns out that electric cars are only a small part of the overall market and that, insofar as it exists, Chinese manufacturers will capture most of the sales. The gamble on electric cars has turned into a catastrophe and it will be many years before the industry recovers.

ISRAEL - Israeli defense officials recently told their US counterparts that Iran’s ballistic missile program represents an existential threat, and that Jerusalem is prepared to act unilaterally if necessary. According to security sources, Israeli intentions to dismantle Iran’s missile capabilities and production infrastructure were conveyed in recent weeks through a series of high-level exchanges. Military officials outlined operational concepts to degrade the program, including strikes on key manufacturing sites.“We told the Americans we will strike alone if Iran crosses the red line we set on ballistic missiles,” the source said, adding that Israel is not yet at that threshold but is continuously tracking developments inside Iran. The officials stressed that Israel reserves freedom of action and emphasized that it will not allow Iran to restore strategic weapon systems on a scale that threatens Israel’s existence.

IRAN - Iran is not seeking a military confrontation with the United States, but the key question is what Tehran is willing to concede to avoid one. Iran is unlikely to relinquish its ballistic missile arsenal because the Islamic Republic views it as the last credible pillar of deterrence and a hedge against what it sees as unreliable US guarantees, Dr Raz Zimmt, head of the Iran Program at the Institute for National Security Studies (INSS), told 103FM on Monday. Zimmt said Iran is not seeking a military confrontation with the United States, but the key question is what Tehran is willing to concede to avoid one. He argued that Iran’s leadership has clear red lines, and missiles sit at the center of them. From Supreme Leader Ali Khamenei’s perspective, Zimmt said, the missile program is the primary tool left to deter Iran’s enemies, and he does not trust US assurances.

ISRAEL - Benjamin Netanyahu will visit Washington this week, amid fears in Israel that Donald Trump will strike a weak deal with Iran. Mr Netanyahu, the Israeli prime minister, had been expected to travel to the US in mid-February for the first meeting of Mr Trump’s Board of Peace. But the meeting was brought forward following the initial round of US-Iran talks in Oman on Friday. Jared Kushner, Mr Trump’s son-in-law, and Steve Witkoff, his special envoy, represented the US. Israel is demanding that any agreement reached at the talks includes limitations on Tehran’s ballistic missile programme and its support for terrorist groups, rather than only its nuclear ambitions. Marco Rubio, the US Secretary of State, has said he wants talks to extend well beyond Iran’s nuclear programme. However, there is unease in Israel that Mr Trump will ultimately favour a “narrow” deal on nuclear enrichment that will do nothing to address Israel’s other concerns.

USA - Elites did their part to fight global warming by flying dozens of private jets to the super bowl. Wealthy elites, many of whom likely believe that climate change is a big problem, flew hundreds of private jets to attend the Super Bowl this weekend. These are the same people who support things like banning plastic straws. Funny how all of that goes right out the window when it comes to their comfort and convenience. They will virtue-signal in public then just do whatever they want to do.

USA - An eye-opening and massive number of C-17 Globemaster military transport and cargo planes have been observed heading to Europe and the Middle East, in what some monitors have forewarned looks like the build-up to major war in Iran. One regional watcher and pundit commented in response: "112 C-17s are in or on their way to the Middle East. Guys, that’s a lot. Like Desert Storm a lot. Stay tuned." Iran and the US just concluded an initial round of indirect talks mediated by Oman, but despite some hopeful statements issued by either side, it is very clear Iran is not willing to negotiate its ballistic missile program - a sticking point being demanded by Washington. A second round is expected in the coming days, unless military action ensues first.

USA - Rent is due. The electric bill sits on the counter. The grocery receipt from last week still stings. For half of Americans, keeping up with basic monthly bills has become nearly impossible. A nationwide survey of 5,000 Americans from Talker Research reports 52% now struggle to pay bills like rent on time each month, while an equal number are struggling to afford necessities like groceries. Nine in 10 people believe the US is experiencing a full-blown cost-of-living crisis, and nearly eight in 10 said everything became more expensive in 2025. Tax refunds have become survival money. What used to be bonus money for a vacation or a splurge has become the difference between making it through the month or not. Half of respondents said they expect a tax refund this year, and among those, 73% admitted they need it more than ever before. Six in 10 said they need their refund earlier than usual just to stay afloat. Where the money goes tells a similar story. Nearly three in 10 people plan to use refund money on necessities like groceries and gas. Another quarter will put it toward savings or paying down debt. Only 14% said they’d spend refund money on anything fun. Think about that for a moment. When tax refunds stop feeling like extra money and start functioning as a financial backstop, something fundamental has shifted about what it means to get by in America.

USA - The majority of Americans are concerned about the economy and want lawmakers to address the mounting debt, but the deficit ratio to GDP growth is on track to surpass WWII levels. As we head further into 2026, most Americans continue to hold negative views of the US economy, a consensus that appears to hold across the political divide. The country’s fiscal burden continues to climb after it skyrocketed to $38 trillion in October of last year, and the debt is increasing by $6.17 billion per day, according to the US Joint Economic Committee’s Monthly Debt Update. When debt hit $38 trillion, the committee projected that the country’s debt would hit $39 trillion by approximately March 6, 2026. Over the past two decades, US borrowing has been uninterrupted, and an analysis reveals that the current US national debt, as a share of the economy, has surpassed that of World War II.

USA - The US has approved more than $6.5 billion in new potential military sales to Israel amid rising tensions with Iran, officials in Washington have announced. According to two separate statements by the Pentagon and State Department on Friday, the package includes a $1.98 billion worth of light tactical vehicles, AH-64E Apache helicopters costing $3.8 billion, and a separate $740 million contract for armored personnel carriers power packs. AM General, Boeing, and Lockheed Martin are among the prime contractors. ”The proposed sale will enhance Israel’s capability to meet current and future threats by improving its ability to defend Israel’s borders,” the Pentagon said, adding that the move “will not alter the basic military balance in the region.”

USA - ‘We want a lot of beef and we want to make it here in America,’ the health secretary tells cattlemen in Nashville. Health and Human Services (HHS) Secretary Robert F Kennedy Jr urged American ranchers to boost their beef production, while on stage at CattleCon on February 5. “I’m begging you to increase the size of the herds,” Kennedy said during a discussion with National Cattlemen’s Beef Association President Buck Wehrbein in front of a packed ballroom of cattlemen in Music City Center. In 1972, the United States had 132 million head of cattle, and that total livestock inventory dropped to 92 million in 2025, the HHS secretary said during Thursday’s event. America’s cattle inventory has dropped due to years of drought and rising costs, according to the American Farm Bureau Federation.