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What you need to know before making financial gifts

Christine Benz Of Morningstar, The Associated Press 4 minute read 5:04 AM CST

If you have gifting to loved ones on your mind, here are some considerations related to taxes and logistics.

Gifting logistics

Unless you’re writing a check from your bank account, the logistics of gifting funds can get a bit complicated.

If you want to gift from your IRA, your only option is to sell a chunk of it, then pay any taxes due, then write a check. That’s not terrible, so long as you understand the tax implications. IRA withdrawals are typically subject to ordinary income tax, along with penalties if you’re not yet 59 1/2. You could also trigger some knock-on tax effects like the income-related monthly adjustment amount. In other words, gifting from your IRA isn’t as seamless as making a qualified charitable distribution from your IRA or naming someone as a beneficiary of your IRA.

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In the Ukrainian capital, a mother struggles to keep her children warm and fed amid power outages

Volodymyr Yurchuk And Srdjan Nedeljkovic, The Associated Press 3 minute read Preview

In the Ukrainian capital, a mother struggles to keep her children warm and fed amid power outages

Volodymyr Yurchuk And Srdjan Nedeljkovic, The Associated Press 3 minute read 5:48 AM CST

KYIV, Ukraine (AP) — On the edge of the Ukrainian capital, Kyiv, volunteers ladle hot soup into plastic containers as residents wrapped in heavy coats queue for a meal they cannot cook at home. Yuliia Dolotova, a mother of two, is among them, waiting with her 18-month-old son, Bohdanchyk, bundled in layers against the biting cold.

Life, she says, has been reduced to the most basic essentials: warmth, light and food.

“All day long, there’s no electricity, no way to cook food for the kids. Pretty much everyone is in this situation,” Dolotova, 37, said.

She lives in Troieshchyna, one of Kyiv’s hardest-hit districts, battered by repeated Russian attacks since the full-scale Russian invasion four years ago. Russian strikes using drones and missiles have left hundreds of thousands of people without heat or electricity as temperatures plunge as low as minus 30 degrees Celsius (minus 22 Fahrenheit). The harsh winter is expected to continue in the coming weeks.

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5:48 AM CST

Yuliia Dolotova, 37, receives hot food at a distribution point during a power outage caused by Russia’s repeated air strikes on the country’s power grid, in Kyiv, Ukraine, Monday, Feb. 2, 2026. (AP Photo/Sergey Grits)

Spain sets a new tourism record with nearly 96.8 million foreign visitors in 2025

Teresa Medrano, The Associated Press 2 minute read 5:43 AM CST

MADRID (AP) — Spain has set a new tourism record, welcoming nearly 96.8 million foreign visitors in 2025, according to figures released Tuesday by the National Statistics Institute.

The number of international visitors witnessed an increase of 3.2%, compared to 2024, which saw 94 million tourists.

Spain is one of the world’s most popular destinations, where tourism accounts for 12.6% of the country’s gross domestic product. It has ranked third as the world’s top tourism earners, after the United Kingdom and France, on the U.N. World Tourism Barometer.

The income from foreign visitors reached 134.7 billion euros ($158.9 billion) between January and December, up 6.8% from the 126 billion euros ($129.8 billion) spent in 2024, the Ministry of Tourism said.

Palestinians line up to cross Rafah after rocky first day of reopening of Gaza-Egypt border crossing

Wafaa Shurafa And Samy Magdy, The Associated Press 5 minute read Preview

Palestinians line up to cross Rafah after rocky first day of reopening of Gaza-Egypt border crossing

Wafaa Shurafa And Samy Magdy, The Associated Press 5 minute read 4:58 AM CST

KHAN YOUNIS, Gaza Strip (AP) — Palestinians lined up Tuesday on both sides of Gaza’s border with Egypt, hoping to pass through the Rafah crossing after its long-awaited reopening the previous day was marred by delays and uncertainty over who would be allowed through.

On the Egyptian side were Palestinians who had undergone medical treatment in Egypt and had left Gaza earlier in the Israel-Hamas war, according to Egypt’s state-run Al-Qahera News television.

On the Gaza side, Palestinians in need of treatment unavailable in Gaza were brought in busses by the Palestinian Red Crescent from the agency's headquarters in the territory, hoping for word that they would be allowed to cross the other way.

The crossing's reopening on Monday — though hailed as a step forward for the U.S.-backed, fragile ceasefire struck in October — was marred by delays. It took more than 10 hours for only about a dozen returnees and a small group of medical evacuees to cross in each direction.

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4:58 AM CST

Palestinian patients ride a bus in Khan Younis as they travel to the Rafah crossing to leave the Gaza Strip for medical treatment abroad, Tuesday, Feb. 3, 2026. (AP Photo/Jehad Alshrafi)

Charity founded by Sarah Ferguson shuts down after release of Epstein emails with former duchess

Danica Kirka, The Associated Press 2 minute read Preview

Charity founded by Sarah Ferguson shuts down after release of Epstein emails with former duchess

Danica Kirka, The Associated Press 2 minute read 5:31 AM CST

LONDON (AP) — The charity founded by Sarah Ferguson, the former Duchess of York, is shutting down following the release of emails showing the depth of her friendship with the late sex offender Jeffrey Epstein.

Sarah’s Trust, which focused on improving the lives of women and children, said it will close for the “foreseeable future,’’ following the revelations in latest documents released by the U.S. Department of Justice. Ferguson is the ex-wife of the former Prince Andrew, who was stripped of his royal titles due to his own links with Epstein.

“Our chair Sarah Ferguson and the board of trustees have agreed that with regret the charity will shortly close for the foreseeable future,’’ the trust said in a statement late on Monday. “This has been under discussion and in train for some months.’’

Emails released on Friday revealed that Ferguson remained in contact with Epstein long after his 2008 conviction for soliciting prostitution from an underage girl. In the email exchanges, Ferguson referred to Epstein as a “legend’’ and “the brother I have always wished for.’’

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5:31 AM CST

FILE - Sarah Ferguson waves the to the crowd was she attends the Easter Matins Service at St. George's Chapel, Windsor Castle, England, Sunday, April 20, 2025. (AP Photo/Kirsty Wigglesworth, file)

Seeking shelter from Trump’s fury, U.S. trade partners reach deals with each other

Paul Wiseman, Josh Boak And Elaine Kurtenbach, The Associated Press 6 minute read Preview

Seeking shelter from Trump’s fury, U.S. trade partners reach deals with each other

Paul Wiseman, Josh Boak And Elaine Kurtenbach, The Associated Press 6 minute read 5:00 AM CST

WASHINGTON (AP) — Bullied and buffeted by President Donald Trump’s tariffs for the past year, America’s longstanding allies are desperately seeking ways to shield themselves from the president’s impulsive wrath.

U.S. trade partners are cutting deals among themselves —- sometimes discarding old differences to do so — in a push to diversify their economies away from a newly protectionist United States. Central banks and global investors are dumping dollars and buying gold. Together, their actions could diminish U.S. influence and mean higher interest rates and prices for Americans already angry about the high cost of living.

Last summer and fall, Trump used the threat of punishing taxes on imports to strong-arm the European Union, Japan, South Korea and other trading partners into accepting lopsided trade deals and promising to make massive investments in the United States.

But a deal with Trump, they’ve discovered, is no deal at all.

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5:00 AM CST

President Donald Trump speaks during an event in the Oval Office of the White House, Friday, Jan. 30, 2026, in Washington. (AP Photo/Evan Vucci)

Paris prosecutors raid X offices as part of investigation into child abuse images and deepfakes

Sylvie Corbet, The Associated Press 3 minute read Preview

Paris prosecutors raid X offices as part of investigation into child abuse images and deepfakes

Sylvie Corbet, The Associated Press 3 minute read Updated: 6:13 AM CST

PARIS (AP) — French prosecutors raided the offices of Elon Musk’s social media platform X on Tuesday as part of a preliminary investigation into a range of alleged offences, including spreading child sexual abuse images and deepfakes.

The investigation was opened in January last year by the prosecutors’ cybercrime unit, the Paris prosecutors' office said in a statement. It's looking into alleged “complicity” in possessing and spreading pornographic images of minors, sexually explicit deepfakes, denial of crimes against humanity and manipulation of an automated data processing system as part of an organized group, among other charges.

Prosecutors also asked Elon Musk and former CEO Linda Yaccarino to attend “voluntary interviews” on April 20. Employees of X have also been summoned that same week to be heard as witnesses, the statement said. Yaccarino was CEO from May 2023 until July 2025.

A spokesperson for X did not respond to a request for comment.

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Updated: 6:13 AM CST

FILE - The opening page of X is displayed on a computer and phone, Oct. 16, 2023, in Sydney. (AP Photo/Rick Rycroft, File)

UK politician Peter Mandelson under scrutiny over alleged leaks to Jeffrey Epstein

Jill Lawless, The Associated Press 3 minute read Preview

UK politician Peter Mandelson under scrutiny over alleged leaks to Jeffrey Epstein

Jill Lawless, The Associated Press 3 minute read Updated: 5:31 AM CST

LONDON (AP) — British police on Tuesday are assessing whether former Labour Party politician Peter Mandelson should face a criminal investigation for leaking sensitive government information to the disgraced financier Jeffrey Epstein.

The U.K. government is seeking ways to kick Mandelson, a towering Labour figure for decades, out of Parliament and remove the noble title, Lord Mandelson, that comes with his lifetime membership in the House of Lords.

A trove of more than 3 million pages of Epstein-related documents released by the U.S. Justice Department has brought excruciating revelations about 72-year-old Mandelson, who served in senior government roles under previous Labour governments and was U.K. ambassador to Washington until he was fired in September over his ties to Epstein.

The newly released files contain new details about Mandelson's contacts with the disgraced financier, including emails passing on nuggets of political information, some of which critics say may have broken the the law. Police say they are reviewing reports of misconduct “to determine if they meet the criminal threshold for investigation.”

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Updated: 5:31 AM CST

British Ambassador to the United States, Peter Mandelson speaks during the rededication ceremony of the George Washington Statue in the National Gallery in London, Wednesday, June 18, 2025. (AP Photo/Kirsty Wigglesworth)

Why China is building so many coal plants despite its solar and wind boom

Ken Moritsugu, The Associated Press 5 minute read Preview

Why China is building so many coal plants despite its solar and wind boom

Ken Moritsugu, The Associated Press 5 minute read Updated: 3:58 AM CST

BEIJING (AP) — Even as China's expansion of solar and wind power raced ahead in 2025, the Asian giant opened many more coal power plants than it had in recent years — raising concern about whether the world's largest emitter will reduce carbon emissions enough to limit climate change.

More than 50 large coal units — individual boiler and turbine sets with generating capacity of 1 gigawatt or more — were commissioned in 2025, up from fewer than 20 a year over the previous decade, a research report released Tuesday said. Depending on energy use, 1 gigawatt can power from several hundred thousand to more than 2 million homes.

Overall, China brought 78 gigawatts of new coal power capacity online, a sharp uptick from previous years, according to the joint report by the Centre for Research on Energy and Clean Air, which studies air pollution and its impacts, and Global Energy Monitor, which develops databases tracking energy trends.

“The scale of the buildout is staggering,” said report co-author Christine Shearer of Global Energy Monitor. “In 2025 alone, China commissioned more coal power capacity than India did over the entire past decade.”

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Updated: 3:58 AM CST

A power plant is seen from a train from Beijing to Shenyang in northwestern China on Jan. 3, 2026. (AP Photo/Ng Han Guan)

India’s Modi praised for US trade deal as opposition questions impact on agriculture

Rajesh Roy, The Associated Press 4 minute read Preview

India’s Modi praised for US trade deal as opposition questions impact on agriculture

Rajesh Roy, The Associated Press 4 minute read Updated: 6:24 AM CST

NEW DELHI (AP) — Indian lawmakers from the ruling coalition praised Prime Minister Narendra Modi on Tuesday for striking a deal with the U.S. that seeks to reduce tariffs on Indian goods, while the opposition raised questions on the impact on sensitive sectors such as agriculture.

President Donald Trump on Monday announced he plans to reduce import tariff on India, six months after imposing steep taxes to punish New Delhi for its unabated purchase of Russian oil that he claimed helped fuel Moscow’s war machine against Ukraine.

In a social media post, Trump said Modi has agreed to stop purchasing Russian oil, though the Indian government remained tight-lipped if this was the case.

US promises to reduce tariffs on India

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Updated: 6:24 AM CST

FILE-U.S. President Donald Trump and Indian Prime Minister Narendra Modi shake hands before their meeting at Hyderabad House, Feb. 25, 2020, in New Delhi, India. (AP Photo/Alex Brandon, file)

Vatican’s ‘trial of the century’ resumes after prosecutors suffer embarrassing setbacks on appeal

Nicole Winfield, The Associated Press 5 minute read Preview

Vatican’s ‘trial of the century’ resumes after prosecutors suffer embarrassing setbacks on appeal

Nicole Winfield, The Associated Press 5 minute read 2:12 AM CST

VATICAN CITY (AP) — The appeals phase of the Vatican’s “trial of the century” resumed Tuesday after a pair of setbacks for the pope’s prosecutors that could have big repercussions on the outcome of the troubled case.

The case concerns the once-powerful Cardinal Angelo Becciu and eight other defendants, who were convicted of a handful of financial crimes in 2023, after a sprawling two-year trial.

However, the Vatican’s high Court of Cassation recently upheld a lower court’s decision to throw out the prosecutors’ appeal entirely. That means the defendants can only expect to see their verdicts and sentences improved if not overturned.

On the same day as the Cassation ruling, the Vatican’s chief prosecutor, Alessandro Diddi, also dropped months of objections and abruptly resigned from the case, rather than face the possibility that the Cassation court would order him removed.

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2:12 AM CST

FILE - Cardinal Angelo Becciu attends the consistory inside St. Peter's Basilica at the Vatican, Aug. 27, 2022. (AP Photo/Andrew Medichini, File)

Czech government faces no-confidence vote in Parliament over a dispute with the president

The Associated Press 2 minute read Preview

Czech government faces no-confidence vote in Parliament over a dispute with the president

The Associated Press 2 minute read 5:33 AM CST

PRAGUE (AP) — The new Czech Republic coalition government of populist Prime Minister Andrej Babiš on Tuesday faced a parliamentary no-confidence vote over the handling of a dispute with the country’s president.

The opposition parties that requested the vote have sided with President Petr Pavel, who accused Foreign Minister Petr Macinka of blackmailing him, because he refused to appoint a government minister representing the right-wing Motorists for Themselves euroskeptic party. Macinka heads the Motorists.

Pavel said that Filip Turek was ineligible to become the environment minister after a daily newspaper published posts from his Facebook page found to be openly racist, homophobic and sexist.

Turek apologized for some posts, but denied that he posted some others.

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5:33 AM CST

From left, European Council President Antonio Costa, Czech Republic's Prime Minister Andrej Babis and European Union foreign policy chief Kaja Kallas speak during a round table meeting at the EU summit in Brussels, Thursday, Jan. 22, 2026. (AP Photo/Geert Vanden Wijngaert)

13-year-old swims for hours to save family swept out to sea

Rod Mcguirk, The Associated Press 3 minute read Preview

13-year-old swims for hours to save family swept out to sea

Rod Mcguirk, The Associated Press 3 minute read Updated: 5:07 AM CST

MELBOURNE, Australia (AP) — A 13-year-old boy is credited with saving the lives of his mother and two younger siblings with an hourslong swim after the family was swept out to sea off the Australian coast.

Austin Appelbee swam 4 kilometers (2.5 miles) to shore to raise the alarm after he got into difficulties on Friday with his mother Joanne Appelbee, 47, brother Beau, 12, and sister Grace, 8, police said.

Austin said he initially set off for help on an inflatable kayak that was taking water. He abandoned the kayak then took off his life jacket because it impeded his swimming.

He said he tried to focus on positive thoughts as he swam for around four hours through rough seas for shore, raising the alarm at 6 p.m.

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Updated: 5:07 AM CST

February 3, 2026

What you need to know before making financial gifts

Weather

In the Ukrainian capital, a mother struggles to keep her children warm and fed amid power outages

In the Ukrainian capital, a mother struggles to keep her children warm and fed amid power outages

Spain sets a new tourism record with nearly 96.8 million foreign visitors in 2025

Palestinians line up to cross Rafah after rocky first day of reopening of Gaza-Egypt border crossing

Palestinians line up to cross Rafah after rocky first day of reopening of Gaza-Egypt border crossing

Charity founded by Sarah Ferguson shuts down after release of Epstein emails with former duchess

Charity founded by Sarah Ferguson shuts down after release of Epstein emails with former duchess

Seeking shelter from Trump’s fury, U.S. trade partners reach deals with each other

Seeking shelter from Trump’s fury, U.S. trade partners reach deals with each other

Paris prosecutors raid X offices as part of investigation into child abuse images and deepfakes

Paris prosecutors raid X offices as part of investigation into child abuse images and deepfakes

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UK politician Peter Mandelson under scrutiny over alleged leaks to Jeffrey Epstein

UK politician Peter Mandelson under scrutiny over alleged leaks to Jeffrey Epstein

Why China is building so many coal plants despite its solar and wind boom

Why China is building so many coal plants despite its solar and wind boom

India’s Modi praised for US trade deal as opposition questions impact on agriculture

India’s Modi praised for US trade deal as opposition questions impact on agriculture

Vatican’s ‘trial of the century’ resumes after prosecutors suffer embarrassing setbacks on appeal

Vatican’s ‘trial of the century’ resumes after prosecutors suffer embarrassing setbacks on appeal

Czech government faces no-confidence vote in Parliament over a dispute with the president

Czech government faces no-confidence vote in Parliament over a dispute with the president

13-year-old swims for hours to save family swept out to sea

13-year-old swims for hours to save family swept out to sea

February 3, 2026

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