Greetings! Happy New Year’s Day to those celebrating.

Let’s get into today’s top stories.

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🇨🇭 Swiss Alps bar fire leaves dozens dead. Valais Canton police commander Frédéric Gisler said flames ripped through Le Constellation in Crans-Montana. Officials reported about 40 dead and 115 injured. Hospitals in the canton of Valais shifted into surge mode overnight. The public prosecutor’s office opened a criminal investigation as specialists hunted an ignition source. Witnesses described a packed New Year celebration turning into a smoke maze in minutes. Tragically, the famous ski resort area in Switzerland began 2026 with ambulance sirens instead of spilling champagne.

🌎 2026 arrives with fireworks and a little faith. In New York, the Times Square ball studded with 5,000 crystals dropped to hugs and hoarse singing. Auckland launched fireworks from Sky Tower, rain included. Sydney lit its harbor like punctuation for a stubbornly hopeful crowd. From Asia’s drumlines to Europe’s plazas, revelers kept showing up anyway. Heightened security looked less like panic than choreography, a promise to protect the party. At midnight, the world practiced optimism out loud.

🩺 Obamacare subsidies lapse, and bills jump. The Affordable Care Act (ACA), also called Obamacare, enters 2026 without enhanced tax credits that lowered monthly premiums. The nonprofit Kaiser Family Foundation (KFF) estimated average premium payments could rise about 114% for many subsidized enrollees, while Reddit users complained their rates doubled. Roughly 20M people get ACA subsidies, so the cliff is national, not niche. Some families will pay thousands more or drop coverage and roll the dice. Insurers have priced 2026 assuming the extra help is gone, making sticker shock the default. Congress still controls the fix, but time is now the underwriting model.

🗽 Zohran Mamdani sworn in as New York mayor. Zohran Mamdani began his term at midnight as New York City’s 112th mayor, its first Muslim, first South Asian, first Millennial, first Indian-descent, and first Africa-born, from Kampala, Uganda. Mamdani chose a Qur’ān he said carried family symbolism for the ceremony, later sworn in before City Hall by Senator Bernie Sanders, promising affordability, competence, and the start of a new era grounded in collectivism. Allies called the moment overdue representation with governing teeth. Even critics must admit this is a historic day for Gotham, the world's most diverse metro, representing 800+ languages and 150+ nationalities.

🪑 President Trump pauses furniture and cabinet tariff hikes. President Donald Trump signed a proclamation delaying planned tariff increases for 1 year. The order keeps a 25% tariff on upholstered furniture, kitchen cabinets, and vanities. It also postpones a jump to 30% on upholstered furniture and 50% on cabinets and vanities. The White House framed the delay as leverage during trade talks and a boost for American industry. Importers and retailers get breathing room, not certainty. Consumers may see slower price spikes, but the meter is still running.

🎖️ President Trump pauses National Guard plans for 3 cities. President Trump also said he is dropping, for now, a push to send National Guard troops to Chicago, Los Angeles, and Portland, Oregon. In LA, about 4,000 Guard troops and 700 Marines have been deployed amid protests. A federal appeals court said control of the Guard should return to Governor Gavin Newsom. Oregon Governor Tina Kotek called the idea of troop deployments a dangerous tactic. Trump argued deployments deter disorder, then said he will hold off if cities stay calm. The pause is temporary, and so is everyone’s patience.

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That’s all for today!

Much obliged and many thanks for reading and sharing today’s newsletter.

See you tomorrow!