The Bulletin

• LA wildfires: More than 12,000 buildings have been destroyed across two wildly destructive fires in Los Angeles County, the latest incident data shows.

• Canada fights back against Trump: Canada is preparing retaliatory measures on U.S. imports and potentially cutting off its energy supply to its southern neighbor if Donald Trump follows through on his 25 percent tariff threat, according to several reports.

• Putin expecting mystery guest from US: Russian President Vladimir Putin has already begun initial preparations for his annual Victory Day military parade in May, and he is expecting a special guest from the U.S. for the big day, a Kremlin insider has said. Here's what you need to know.

• Johnson removes Republican from key position: Speaker of the House Mike Johnson has removed Republican Congressman Mike Turner as the chair of the powerful House Intelligence Committee, according to multiple reports.

• Jan 6 rioter faces extra prison time: A man involved in the January 6, 2021, attack on the U.S. Capitol is facing additional prison time after fleeing to Canada to avoid a nine-month sentence, federal prosecutors confirmed on Wednesday. Learn more.

• Winter warnings: Winter weather warnings are in place in five states from the National Weather Service early on Thursday morning with up to 10 inches of snow forecast for some parts of the country. Here's what to expect.

The rundown: President Joe Biden asserted that America is becoming an "oligarchy" while warning the country in his televised farewell address on Wednesday of a "dangerous concentration of power" by the wealthy. Here's more on Biden's warning.

Why it matters: Biden in a televised address from the Oval Office on Wednesday evening bid farewell as he prepared to exit the White House and close his one term as president. He discussed his legacy and raised concerns about the future, including the dangers of a growing oligarchy in the U.S. and the risks of leaving a "tech industrial complex" unchecked. Biden went on to say that the rich would be allowed "to make as much as they can," but not without paying "their fair share in taxes." He also surprisingly called upon lawmakers to create a new amendment to the Constitution that would effectively undermine the Supreme Court ruling on presidential immunity.

Read more in-depth coverage:
Joe Biden Urges New Constitutional Amendment in Farewell Speech

TL/DR: "In my farewell address tonight, I want to warn the country of some things that give me great concern," Biden said from the White House.

What happens now? Biden is expected to retire from public service after leaving the White House on Monday, just before Trump begins his second term. While he is leaving office with historically low approval ratings, his long-term legacy is unclear and will likely be viewed differently by Americans depending on their political party affiliation.

Deeper reading Joe Biden Warns of 'Oligarchy' Taking Over US in Farewell Speech

The rundown: Israeli Prime Minister Benjamin Netanyahu's office announced Thursday that his Cabinet will not convene to approve the Gaza ceasefire agreement due to what it described as a "last-minute crisis" caused by Hamas. More updates on the evolving situation.

Why it matters: Prime Minister Benjamin Netanyahu's office accused Hamas of reneging on an earlier agreement granting Israel a veto over which prisoners convicted of murder would be released in exchange for hostages. This disagreement has delayed the Israeli Cabinet's approval of the ceasefire deal. Netanyahu is under intense domestic pressure to secure the release of the hostages, but his far-right coalition partners have warned they could topple his government if they perceive the deal involves excessive concessions.

Read more in-depth coverage:
Israel Hamas Gaza Ceasefire Deal: When Will Hostages be Released? What We Know

TL/DR: The agreement, brokered with Qatar's mediation, is seen as a significant step toward resolving the ongoing conflict in Gaza, with key provisions including the release of hostages and the exchange of Palestinian prisoners.

What happens now? The deal, seen as a potential turning point in the conflict, now faces uncertainty as negotiators work to resolve the impasse.

Deeper reading Netanyahu Postpones Gaza Ceasefire Deal Over Hamas 'Last Minute Crisis'

The rundown: The top immigration enforcement agency in the U.S. will become more "empowered" and "emboldened" in Donald Trump's second administration, experts said.

Why it matters: A former Department of Homeland Security (DHS) official, as well as immigration advocates, said they expect Immigration and Customs Enforcement (ICE) to expand. ICE is responsible for enforcing immigration laws, including detaining and deporting undocumented immigrants. However, some experts disagreed, telling Newsweek that ICE's role won't change significantly. Trump's vision for ICE includes an expansion of its powers if mass removals are to be carried out. One of the central goals is to enhance ICE's capacity to carry out raids and arrests targeting undocumented immigrants, particularly those with criminal backgrounds.

Read more in-depth coverage:
Republicans Want ICE to Detain More Migrants: Is There Space?

TL/DR: Experts predict a major overhaul in how ICE handles detention and deportation operations.

What happens now? With Trump's return to power, the agency will become a constant fixture in the public sphere. ICE will remain a source of deep polarization—celebrated by some as an essential tool for upholding the rule of law and vilified by others as a symbol of draconian immigration policies.

Deeper reading ICE Strikes Back

The rundown: The Chinese government has claimed that it has been "forced" to develop nuclear weapons as a United States official issued a warning about China's weapons of mass destruction program. Read more on the escalating tensions.

Why it matters: In its latest report on Chinese military power, the Pentagon estimated China has over 600 operational nuclear warheads, about 100 more than the previous estimate, enabling it to target more of America's cities, military facilities and leadership sites than ever before. The Chinese Defense Ministry hit back at the report, claiming the country adheres to "the nuclear strategy of self-defense and the nuclear policy of not using nuclear weapons first," while maintaining its nuclear forces at the minimum level required for national security.

Read more in-depth coverage:
What Will China Do With Its Newfound Military Power?

TL/DR: "China's development of nuclear weapons is a historic choice forced to be made," said Chinese Foreign Ministry spokesperson Guo Jiakun at a press conference on Wednesday.

What happens now? Both the U.S. and China are likely to continue to modernize their nuclear capabilities. It remains to be seen whether the two nations, as well as Beijing's quasi-ally Russia, will reach a three-party agreement on arms control in the future that limits their nuclear forces.

Deeper reading China Says 'Forced' To Acquire Nuclear Weapons as US Sounds Warning

The rundown: With the Chinese-owned video-sharing app TikTok on the cusp of a ban in the U.S. on January 19, its American users have flocked to a similar alternative called RedNote, sending it racing to the top of app store download charts. Here's why it's gaining so much traction.

Why it matters: Officials in Washington say TikTok's ownership by Chinese company ByteDance leaves it vulnerable to exploitation by the CCP regime in Beijing, putting the security and privacy of Americans at risk. TikTok is facing a ban over these national security concerns unless its Chinese owners divest. The extent to which RedNote becomes a national security concern or alternatively a helpful tool for democratic expression will depend on how speech on the platform evolves—the size of the audience it gains, whether it becomes a big locus for political speech, and the extent to which China's censors succeed in controlling speech on it.

Read more in-depth coverage:
China's RedNote Gets Half a Million New US Users as TikTok Ban Looms

TL/DR: ByteDance and TikTok deny it poses any such threat or that it is under CCP influence, and warn the popular app will disappear for its 170 million users in America.

What happens now? Like TikTok, RedNote is subject to a number of Chinese government regulations that assert oversight over the app's data and algorithm, including the same national security export controls the TikTok algorithm is subject to and the same data security regulations.

Deeper reading TikTok Ban: RedNote Poses National Security Risks Too, Experts Warn