🌏 Trump’s back

Good morning, Quartz readers!

Here’s what you need to know

President Trump will address global leaders this Thursday. Days after his inauguration, Trump is set to speak, via video, at the World Economic Forum.

Trump’s tariff threats are looming. Canada and Mexico haven’t met the president’s criteria and could face steep hikes come February.

Tech leaders praise Trump’s day-one orders. NetChoice, which represents Amazon, Google, and Meta, calls Trump’s rollback of Biden-era regulations key to U.S. tech leadership.

A ‘Crypto Task Force’ is coming. The Securities and Exchange Commission (SEC) is shifting its focus on cryptocurrency assets to create a clearer regulatory framework.

… Meanwhile, crypto could be “just another payment option,” according to Bank of America’s CEO. Brian Moynihan suggested big banks may adopt crypto payments if new regulations allow.

Nvidia’s back on top. The chipmaker reclaimed the title of the world’s most valuable company, surpassing Apple.

Costco workers plan to strike. Here’s why

A Costco strike is now on the table, with workers prepared to walk off the job unless the retailer meets their demands for higher wages and better benefits.

The Teamsters union, which represents over 18,000 Costco workers nationwide, has been negotiating for months, arguing that Costco’s record profits show the company isn’t living up to its claims of treating workers better than its competitors. Costco, which employs over 300,000 people across the U.S., has pushed back on these claims.

How long does Costco have to settle the labor dispute? Quartz’s Francisco Velasquez breaks it down.

Los Angeles’ future after the fires

In the past two weeks, wildfires driven by 100 mph winds have devastated northern Los Angeles, burning more than 12,000 buildings and leaving at least 24 people dead.

Thousands have been forced to evacuate as the fires destroyed homes, businesses, and entire neighborhoods. With no significant rain in sight, experts expect the damage to reach tens of billions of dollars, with much of it uninsured.

What are the estimated insured losses, including damage, cleanup, and rising construction costs? Quartz’s Peter S. Green has the details.

More from Quartz

🗣️ The Dow soars 450 points as Trump tones down his tariff tough talk

🎲 Elon Musk admits he cheated at some video games

🔕 Tesla, Rivian, and Lucid shares fall as Trump kicks off his anti-EV agenda

🏔️ Look inside Davos: The Swiss ski town hosting the world’s elite

💰 Tesla Cybertruck insurance costs ways more than the national average, study says

🏠 Home prices are up in all 50 U.S. metropolitan areas, Redfin says

⚡The 10 most valuable brands in the world

🛠️ Elon Musk’s DOGE mandate is updating software and firing federal workers

🟢 Bitcoin will hit $130,000 this year, wealth advisor says

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Our best wishes on a safe start to the day. Send any news, comments, or ski resort recs to [email protected]. Today’s Daily Brief was brought to you by Francisco Velasquez and Kevin Ryan.