The Economic Times

Mumpsimus describes the stubborn adherence to a proven error, often due to habit or pride, even when presented with clear evidence to the contrary. This medieval term, originating from a priest's mispronunciation, remains relevant today, highlighting the dangers of entrenched thinking in various aspects of life and encouraging intellectual humility.

New 401(k) plans may soon offer alternative investments like private equity and crypto. These options could bring more choice, but also higher fees, lower flexibility, and more risk. Experts say changes will be slow and mostly inside target-date funds. Savers should carefully check costs, risks, and whether these investments truly fit their long-term retirement goals.

President Donald Trump met President Volodymyr Zelenskyy in Davos. Trump conveyed to President Vladimir Putin that the war must end. A US delegation will meet Putin soon. Trump previously stated he was close to a deal to stop the Russia-Ukraine war. He emphasized the need to save lives and end the conflict.

Oscars nominations 2026: 'Sinners' and 'One Battle After Another' are grabbing headlines at Academy Awards 2026 which will be held on March 15.

Russia will provide one billion dollars from its frozen assets for Gaza's reconstruction. President Vladimir Putin announced this commitment during talks with Palestinian leader Mahmoud Abbas. The funds will be channeled through a US-initiated peace council. Putin emphasized that a sovereign Palestinian state is crucial for lasting peace in West Asia. Abbas expressed gratitude for Russia's long-standing support for Palestine.

Lawrence Jones, co-host of Fox & Friends, the morning show on Fox News, recently went off the air, making audiences concerned. Jones, who joined the network in 2018 and became a permanent co-host in 2023, shared an update on his X account. Popular for his reporting on Lawrence Jones Cross Country and co-hosting events such as Charlie Kirks memorial service, Jones is a well-recognized personality on the program.

The Indian Air Force has voiced its displeasure regarding entry fees collected for an air show in Nashik. The IAF stated it does not charge for such events, which aim to inspire youth. Local officials clarified the fees were for amenities and crowd control, with funds going to soldiers' welfare.

Apple trade-in program: Apple is encouraging customers to trade in old iPhones, iPads, Apple Watches, and MacBooks. Customers can receive significant credits, potentially over $1,000, towards new Apple products or an Apple Gift Card. Devices not eligible for credit will be recycled for free. This program benefits both customers financially and the environment by reducing e-waste.

Top executives at the World Economic Forum in Davos 2026 warn that Artificial Intelligence will cause significant job losses. JPMorgan Chase CEO Jamie Dimon stated AI's impact is unavoidable, leading to fewer jobs in the next five years. Deloitte CEO Joe Ucuzoglu acknowledged disruption but noted new jobs will emerge.

European Central Bank policymakers are patient on interest rates. Inflation remains near the two percent target. Projections show inflation staying close to this level. Wage growth supports domestic price increases. The bank is ready to act if needed. The next meeting is on February fifth.

Older Americans may qualify for a new $6,000 IRS tax deduction in 2026. The benefit targets seniors facing rising healthcare, grocery, and housing costs. Eligible taxpayers aged 65 and older could save up to $1,320. Income limits apply. The deduction phases out at higher earnings. Refunds may increase significantly. Filing rules matter. Details could change your tax outcome.

Taylor Sheridans quote of the day talks about how people are not perfect. It reflects his style of storytelling, where characters are real and flawed. Sheridan is a famous writer and creator of Yellowstone. His life experiences and ranch background shape his movies and TV shows, making them feel honest and relatable.

Donald Trump launched a 'Board of Peace' in Davos, drawing a controversial mix of leaders including strongmen like Javier Milei and Viktor Orban. Despite Trump's claims of ending wars, the event saw tepid applause and few European attendees. Many influential leaders avoided the gathering, fearing backlash and disagreeing with its premise.

Quote of the Day: Albert Camus, shaped by hardship, believed meaning is created through present action, attention, and honesty, not postponed future happiness. His enduring quote emphasizes that true generosity to the future lies in fully engaging with and ethically living the present moment, a philosophy that continues to resonate.

Thought of the Day: In an age marked by anxiety about the future, the Thought of the Day by Paulo Coelho reflects that certainty is not the ultimate goal. Understanding comes from courage to step forward without knowing exactly where the path will lead.

Lokesh, who met Reddy on the sidelines of the World Economic Forum summit in Davos, felicitated the chief minister with a Mangalagiri shawl and presented him with a memento.

Greenland's strategic Arctic location places it at the heart of potential nuclear war flight paths, a key reason behind President Trump's push for U.S. ownership. He cites this as vital for his Golden Dome missile defense system, though experts question the necessity of acquisition given existing defense agreements and evolving technology.

Trump tariffs Supreme Court ruling: Investors are watching a Supreme Court case on presidential tariff powers. The decision could clarify presidential authority, impacting company profits and retirement savings. While immediate tariff changes are unlikely, market uncertainty may rise. Any refunds for collected tariffs also remain a question. Long-term investors should maintain focus on their goals.

Beyoncs quote, I dont like to gamble, but if theres one thing Im willing to bet on, its myself, conveys the significance of self-confidence and trusting your own capabilities. As a globally recognized singer, performer, and businesswoman, Beyonc exemplifies determination and resilience. The quote urges people to prioritize self-belief, take control of their ambitions, and embrace challenges without depending on others validation.

Bihar Chief Minister Nitish Kumar expressed frustration during a function in Siwan. He questioned why women were leaving while he was detailing government initiatives for them. The Chief Minister launched projects worth over Rs 200 crore in the district as part of his 'Samriddhi Yatra'.

Delhi-NCR sees a welcome improvement in air quality, leading to the revocation of GRAP-3 restrictions. While GRAP-1 and GRAP-2 measures remain in effect, authorities are hopeful these steps will prevent a decline in air quality during the Diwali period.

Netflix Movie of the Day: Elizabeth Smart was returned to her family nine months after she was kidnapped from her bedroom in June 2002.

The Ministry of Road Transport and Highways has amended rules to curb toll evasion and prepare for barrier-free tolling. Vehicles with unpaid toll dues will now face restrictions on sale, transfer, and fitness certificate renewal, requiring clearance of all outstanding charges before these processes can proceed.

President Trump is demanding a 10% cap on credit card interest rates to slash record debt. Current APRs exceed 21%, costing Americans billions. Trump set a January 20, 2026, deadline for banks to comply voluntarily, but most lenders refused. Now, he is urging Congress to pass a one-year federal law. While this horseshoe alliance with progressives could save consumers $100 billion, banks warn it may force millions of card cancellations.

The Legally Blonde prequel turns the clock back on one of Hollywoods most recognisable characters, tracing Elle Woods life well before her Harvard Law days.

President Trump declared the end of American leadership in the post-WWII liberal democratic order at Davos, asserting the US would no longer subsidize allies and vowing to continue his trade war. He also flip-flopped on using tariffs for Greenland. Meanwhile, China's Xi Jinping was presented as a champion of globalization, contrasting with Trump's America First approach.

President Donald Trump launched the Board of Peace at Davos on January 22, 2026. This new group will oversee post-war Gaza and global conflicts. Trump serves as the lifelong Chairman. Over 20 nations joined, including Israel and Saudi Arabia. Membership costs $1 billion for a permanent seat. The board aims to raise $53 billion for reconstruction. It acts as a private alternative to the United Nations.

Weather forecast snow storm warning: Nineteen states include Texas, New Mexico, Oklahoma, Kansas, Missouri, Arkansas, Louisiana, Mississippi, Alabama, Georgia, Tennessee, North Carolina, South Carolina, Kentucky, Indiana, Illinois, Ohio, Virginia and West Virginia.

Michelle Obama firmly stated her opposition to her husband, Barack Obama, running for a third term, even if laws were changed. She believes two terms are sufficient, emphasizing the need for new visions and energy to address the country's evolving challenges. Obama highlighted the importance of fresh perspectives from younger generations.

Skills Accelerator is a multistakeholder platform aimed at identifying, scaling, and accelerating innovative solutions and publicprivate partnerships to address critical skills gaps in the workforce by promoting lifelong learning, industry-aligned training, and large-scale reskilling. Currently active skill accelerator countries include Azerbaijan, Bahrain, Brazil, Indonesia, Nigeria and Qatar.

Prime Minister Narendra Modi will launch the NDA's election campaign in Tamil Nadu on January 23. The event in Madurathakam will see leaders from allied parties present. Efforts are underway to bring more allies into the fold. A large public meeting is anticipated, marking a significant start to the campaign to unseat the DMK.

Governor Thaawarchand Gehlot dramatically exited a legislative session after reading only a few lines of the government-prepared address, which reportedly criticized central policies. Chief Minister Siddaramaiah condemned the act as an insult, vowing to explore legal action. This follows similar gubernatorial walkouts in Tamil Nadu and Kerala, highlighting escalating political tensions.

Simonize meaning: Simonize, a word born from a car wax brand, means to polish to a high shine. This term is now used for more than just cars. It can describe making speeches or essays gleam. The word's journey shows how language evolves. It offers a vivid way to describe polishing both physical items and abstract concepts.

External Affairs Minister S Jaishankar met with EU ambassadors. He stressed stronger India-EU ties will de-risk the global economy. Cooperation on supply chains and security partnerships will stabilize the world order. Upcoming visits by European leaders for Republic Day were noted. Spain's Dual Year of Culture, Tourism, and AI was also launched.

Delhi-NCR breathes easier as GRAP 3 restrictions were lifted Thursday, thanks to a significant improvement in air quality. The Air Quality Index dropped to 332, prompting the Commission on Air Quality Management to relax curbs. Forecasters predict the AQI will likely stay in the moderate to poor range, offering continued relief.

Andhra Pradesh Chief Minister N Chandrababu Naidu revealed that investment pledges totaling Rs 2.5 lakh crore from the 2025 World Economic Forum have been realised. He shared this at the 2026 WEF in Davos. Naidu highlighted Andhra Pradesh's progress in green energy, technology, and AI.

Madonna was reportedly appalled after encountering her ex-husband Sean Penn recently, according to Rob Shuters Naughty But Nice Substack. The pop star was astonished by Penns gray hair and natural aging, which insiders stated compelled her to confront a reality she prefers to keep tightly controlled. The actor looks his age, and seeing him without filters,cosmetic procedures, or Hollywood tricks was a shock to Madonnas system.