Good morning. Apple plans multibillion-dollar investments in the US. Elon Musk’s job threat sparks confusion among Federal agencies. And we have the definitive ruling on which city has the best restaurants. Listen to the day’s top stories.

Apple plans to invest $500 billion in the US over the next four years, hiring 20,000 workers and producing AI servers. President Trump’s tariffs on goods imported from China are probably a major catalyst behind the move. Alibaba is also splashing the cash, with plans to spend more than $53 billion on AI infrastructure. But not everything is wonderful in AI World. According to an influential analyst report, Microsoft has started canceling leases for a substantial amount of datacenter capacity in the US.

Get the inside scoop on all things Apple and consumer tech with the Power On newsletter with Mark Gurman.

Federal workers are caught between Elon Musk’s DOGE and their jobs. Several agencies have advised their employees to ignore (for now) a demand from the government efficiency office to justify their jobs or face dismissal. The Pentagon and Department of Justice cited legal pitfalls, while others such as NASA are assessing how to respond. More than 2 million workers are affected. Read our explainer on how DOGE is reshaping the government.

Turning to geopolitics, Ukraine President Volodymyr Zelenskiy said he would step down if it were to guarantee peace and membership of NATO. Europe is trying hard to get involved in talks to end the war in Ukraine—French President Emmanuel Macron and UK Prime Minister Keir Starmer meet with Donald Trump this week to discuss the conflict. Remember Trump has little time for Zelenskiy, whom he denounced as a dictator. Taking a cue from their boss, the president’s top advisers declined to describe Russia as the aggressor in the war.

Germany’s conservatives won the national election, as expected, but Friedrich Merz’s path to forming a new government is tricky. Markets are predicting the end of an era for constrained fiscal policy. However, that may not be easy with the rise of far-right Alternative for Germany and other fringe parties. Read more about the challenges awaiting the next chancellor.

Warren Buffett is still sitting on a huge pile of cash. His Berkshire  Hathaway hoard grew to a record $334.2 billion in the fourth quarter as operating earnings surged 71%. The billionaire’s firm has paid Uncle Sam more than $101 billion in taxes since he took the helm 60 years ago, more than any other company in history.

Deep Dive: NY Congestion Haul

E-ZPass readers and license plate-scanning cameras over Park Avenue in New York. Photographer: Michael Nagle/Bloomberg

New York City’s congestion pricing program may be facing an uncertain future, but it raised $48.6 million in its first month.

• The charge on motorists driving into Manhattan’s busiest areas also reduced traffic by 10%, with 2.6 million fewer vehicles south of 60th Street.
• But there’s the big shadow of Trump hanging over it: he wants to ditch the program. New York Governor Kathy Hochul is trying to prevent such a scenario and met with Trump on Friday to defend the plan.
• It isn’t clear whether they discussed a possible resolution of the lawsuit filed by the Metropolitan Transportation Authority against the president’s move.

The Big Take

Opinion

Photographer: Dan Brouillette/Bloomberg

Berkshire’s shareholder letter contains the usual Buffett fare as well as some advice for Trump, Jonathan Levin writes. Paying taxes, saving money and a strong dollar are all good for the economy.

Before You Go

Source: Shutoku

Which is the best food city in the world? After dining at over 100 restaurants in global culinary hotspots, our food editor has the answer...New York. But the best restaurant is Plénitude in Paris—and there are many great spots in London and Tokyo (including a pizza place) on her list, too.