Good morning! Here’s what you need to know on Wednesday.
1. Ten American sailors are reportedly being held by Iran after two US Navy riverine patrol boats drifted into Iranian waters after experiencing mechanical difficulties. Plans are now understood to be in place for the sailors to be returned on Wednesday.
2. At least 10 people, the majority of them German tourists, were killed after a suicide bomb attack in Istanbul. Authorities believe a Syrian national who was a member of Islamic State carried out the atrocity.
3. President Barack Obama has delivered his final State of the Union speech. Obama spent part of his speech discussing America’s fight against ISIS as well as taking apparent shots at Donald Trump.
5. Chinese trade data delivered a pleasant, and largely unexpected, surprise in December. In US dollar terms, exports fell by 1.4% from a year earlier, beating expectations for a contraction of 8.0%.
7. Tensions are rising in Germany following mass New Year’s Eve attacks on women in the city of Cologne. A police report suggests that gangs of mostly migrant men, many of whom came from Africa and the Middle East, may have been responsible.
8. North Korean leader Kim Jong Un called for an expansion of the size and power of his country’s nuclear arsenal, state media said on Wednesday, a week after a nuclear test that drew condemnation from its neighbours and the US.
9. The tax authority of Zug, a Swiss canton with a lot of hedge funds, has scrapped discounts for early payers and asked people to delay settling their tax bills for as long as possible because the country has a negative interest rate.