Cut

Tate has announced that it is cutting 7% of its workforce, as the British arts institution grapples with a post-pandemic financial deficit. The move echoes major budget cuts for many cultural institutions globally, including major European museums.

Israel says it is cutting off its electricity supply to Gaza. It comes after it cut all supplies of goods to the crisis-ravaged Palestinian territory last week.

Küresel stock markets rebounded from the previous day’s selloff, ahead of major tech earnings and central bank rate decisions.

Protests have spread across France after the government’s forced budget announced severe cuts to the culture and arts sector.

The Taliban takeover in August 2021 drove millions into poverty and hunger after foreign aid was cut off almost overnight.

The Moscow-controlled breakaway region of Moldova will receive gas as a “humanitarian gesture” from the Kremlin, while the rest of the country will remain cut off after Russia halted supplies on 1 January, citing alleged unpaid debts.

The euro declined further against the US dollar to a fresh low in over two years amid concerns about the Eurozone’s economy, Trump’s tariffs, and monetary policy discrepancy between the ECB and the Fed.