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Fifteen Lives Lost in Tragic Boat Collision Off Chios

Greek emergency personnel wait to transfer bodies of dead migrants, following migrant’s boat collision with coast guard off the island of Chios, in the port of Chios, Greece, February 3, 2026. A deadly maritime collision near the Greek island of Chios has left fifteen migrants dead and prompted urgent questions about how the incident unfolded. According to early reports, a migrant vessel carrying dozens of people struck a Hellenic Coast Guard patrol boat during the night, causing the smaller craft to overturn. Rescue teams recovered multiple bodies from the water while continuing to search the surrounding area for any additional survivors. Twenty‑five people were pulled from the sea alive, several of whom were transported to local hospitals for treatment. Authorities have opened an investigation to determine the sequence of events leading up to the crash, including the movements of both vessels and the conditions at the time. The tragedy adds to the growing concerns over the dangers...
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US Inflation Surges in January, Raising Concerns for Fed and Markets

 

The US consumer price index (CPI) rose 0.5% in January from the previous month, exceeding economists’ expectations of a 0.2% increase, according to data released on Tuesday. The annual inflation rate jumped to 3.1%, the highest level since March 2021, and above the Federal Reserve’s 2% target.

The surge in inflation was driven by higher costs of energy, food, shelter, and transportation, reflecting the impact of supply chain disruptions, labor shortages, and rising demand amid the economic recovery from the pandemic. Core inflation, which excludes volatile food and energy prices, also rose 0.4% in January, the largest monthly gain since July 2021.

The higher-than-expected inflation report rattled the financial markets, as investors feared that the Fed might have to tighten its monetary policy sooner than anticipated to prevent the economy from overheating. US stock futures fell after the release of the data, while the yield on the 10-year Treasury note rose to 2.09%, the highest level since January 2020.

The Fed has maintained that the current inflation spike is transitory and largely reflects the base effects of low prices a year ago, as well as the temporary factors related to the reopening of the economy. The central bank has signaled that it will keep its benchmark interest rate near zero and continue its bond-buying program until the labor market and inflation reach its goals.

However, some analysts and policymakers have warned that the inflation pressures could persist and become more widespread, posing a threat to the economic outlook and the Fed’s credibility. They have urged the Fed to act more aggressively to rein in inflation and prevent a loss of confidence in its ability to maintain price stability.

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