Daily flyovers
Latest news for 18 February 2026
Quick hits of consequential news from all corners of the world.
- 01
EUROPEAN UNION
Leaving already?
Rumours are resurfacing that Europe’s central bank chief Christine Lagarde will leave before her term ends in October 2027. That’d allow France’s Macron and Germany’s Merz to replace her before France’s 2027 presidential election, which polls suggest could usher in another brave new world of populism. (FT $)
Comment: Lagarde has previously denied these palace whispers, but it really depends on finding her a worthy off-ramp. When we were in Davos last month (great way to start a sentence btw), the rumour was she’d lead the World Economic Forum (WEF).
- 02
JAPAN
Got yourself a deal.
President Trump has revealed the first investments under Japan’s vaunted $550B pledge, which sealed last July’s deal to lower tariffs from 25% to 15%. (Bloomberg $)
Comment: While the White House credits Trump’s tariffs, Japanese outlets note the first three projects align with Japan’s own interests: the $36B gas plant in Ohio and $2B crude export terminal in Texas diversify its energy, while the $600M synthetic diamond plant in Georgia de-risks critical mineral reliance away from China. Plus Tokyo is clarifying these are mostly private funds backed with low-risk loans.
- 03
KAZAKHSTAN
Corporate citizen.
Chevron’s investment arm has agreed to fund $23.5M for a new ferroalloy plant in Kazakhstan, pledging to create 500 jobs. (Interfax)
Comment: Chevron already operates and co-owns the massive $48B oil field at Tengiz, so these kinds of diversifications are a way to build goodwill as Tengiz contract renewal talks kick off ahead of the concession’s expiry in 2033.
- 04
FRANCE
Politically motivated.
Police have arrested nine suspects over the fatal assault of 23-year-old conservative activist Quentin Deranque, who had reportedly offered security assistance to a small feminist-identitarian protest against immigration-linked crimes on women. (Euronews)
Comment: The confirmed suspects include an assistant to a hard-left French lawmaker, hinting (along with all the themes crammed into our sentence above) at the sheer level of polarisation ahead of municipal elections next month.
- 05
AUSTRALIA
We want no part in this.
Australia says it’s playing no role in a recent failed attempt by 34 ISIS-linked women and children to repatriate to Australia from Syrian detention camps, though concedes it might’ve granted passports per a legal obligation. (CNN)
Comment: This attempted repatriation is tricky timing for Albanese, already under domestic pressure in the wake of the ISIS-inspired Bondi terrorist attacks. Australian law has previously stripped some ISIS members of citizenship, but it’s only for dual citizens and now requires a court conviction first.
- 06
PERU
Next!
Just weeks out from Peru’s next presidential and congressional elections in April, lawmakers have ousted Peru’s latest short-lived interim leader over misconduct including secret meetings with a China-linked investor, plus staffing his office with unqualified young women after late-night closed-door interviews. (MercoPress)
Comment: He’s Peru’s 8th leader since 2016, extending the political instability at the heart of the world’s 2nd-largest copper exporter. But rather than just wait this guy out, the local US ambassador recently tweeted a pic of the two eating burgers — it was a play on the secret China-linked meeting that infamously happened over a succulent Chinese meal, but it arguably linked the US to a terminal presidency.
- 07
NIGERIA
Market share.
Nigeria’s data protection regulator has launched an investigation into China-based online marketplace Temu over suspected violations, including surveillance and cross-border data transfers. (DW)
Comment: The fast-expanding Temu is already facing scrutiny across the West, but has enjoyed more of a free ride in emerging markets. With Africa’s most-populous nation now flagging concerns, Temu might need to hire more lawyers.