Top 5 US news stories
January 2 2026
Swiss Alps Fire Kills 40 During New Year's Celebration at Ski Resort Bar
DOGE Backlash and Trump Criticism Spark Vance's Months-Long Effort to Salvage Fragile Musk Alliance
California Billionaire Tax Proposal Drives Tech Investors to Flee State Before Year's End
UN Methodology Change Crowns Jakarta World's Largest City, Surpassing Tokyo
Iranian Economic Crisis Sparks Fifth Day of Protests, Leaves One Dead in Clashes
Swiss Alps Fire Kills 40 During New Year's Celebration at Ski Resort Bar
A fire at Le Constellation bar in the Swiss ski resort town of Crans-Montana killed about 40 people and injured more than 100 others during New Year's celebrations early Thursday morning. Many victims were young people who had gathered at the venue in the canton of Valais to ring in the new year. Swiss President called the blaze "one of the worst tragedies our country has ever experienced."
NYT
DOGE Backlash and Trump Criticism Spark Vance's Months-Long Effort to Salvage Fragile Musk Alliance
Vice President JD Vance orchestrated a months-long campaign to prevent Elon Musk from launching a third party after backlash to the billionaire's government cost-cutting initiative and public criticism of President Donald Trump threatened their political alliance. Vance personally lobbied Musk and his allies, urging them to abandon third-party plans that could damage GOP prospects in the 2026 midterms. The intervention succeeded, with Musk appearing at a White House dinner in November and supporting Republican campaigns after the killing of conservative activist Charlie Kirk, though allies of both men say the Trump-Musk relationship remains fragile.
Washington Post
California Billionaire Tax Proposal Drives Tech Investors to Flee State Before Year's End
California tech investors established new offices outside the state and criticized a proposed ballot initiative that would impose a one-time 5% tax on assets of billionaires living in California as of Thursday. The healthcare union-backed measure would tax assets including stocks, artwork and intellectual property, with billionaires given five years to pay. Bay Area investor Chamath Palihapitiya claimed people with collective net worth of $500 billion left California before year's end, while Peter Thiel's investment firm announced a Miami office lease and David Sacks' Craft Ventures signed an Austin office lease in December.
WSJ
UN Methodology Change Crowns Jakarta World's Largest City, Surpassing Tokyo
The United Nations updated its ranking of the world's biggest cities last month after changing its methodology to assess larger metropolitan areas beyond city boundaries. The new calculation for Jakarta includes sprawling satellite towns such as Bogor, bringing the Indonesian capital's estimated population to almost 42 million residents and overtaking greater Tokyo as the world's most populous city. The previous estimate counted only 11 million people within Jakarta proper.
FT
Iranian Economic Crisis Sparks Fifth Day of Protests, Leaves One Dead in Clashes
At least one person died in clashes between Iranian protesters and security forces Thursday as demonstrations entered their fifth day across the country, driven by high inflation and currency collapse. Iranian state media identified the victim as a 21-year-old militia member, while a rights group said he was among the protesters. The unrest began with merchants and university students in major cities including Tehran but has spread to smaller western cities, prompting President Masoud Pezeshkian to acknowledge the government must urgently address public concerns. Authorities arrested 30 people west of Tehran for disrupting public order.
NYT
January 2 1974: President Nixon signs national speed limit into law
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