Japanese game maker Nintendo reports robust profits on hit Switch 2 console

TOKYO (AP) —Nintendoposted a 51% rise in profit for the first three quarters of the fiscal year as the Japanesevideo-gamemaker continued to score success with its revamped Switch machine.

For the April-December period, Kyoto-based Nintendo Co. said Tuesday that it recorded a 358.9 billion yen ($2.3 billion) profit, up from 237 billion yen the same period a year earlier.

Sales nearly doubled, surging 99%, to 1.9 trillion yen ($12 billion) in the same period, on healthy demand for the Switch 2 console, which went on sale last year.

Switch machines are so-called hybrids, working both as a home console and a portable device. The screen is bigger and the graphics quality has improved in the upgrade.

Nintendo, owner of the Super Mario and Pokemon franchises, stuck to its projection for a 350 billion yen ($2.3 billion) net profit for the fiscal year through March.

It's expecting to sell 19 million Switch 2 machines during the fiscal year. It had already sold nearly 17.4 million Switch 2 machines as of the end of December, the briskest sales rollout for a Nintendo game console.

As for Switch 2 software, Nintendo has sold some 14 million units of the "Mario Kart World" game. Nintendo claims some 129 million people around the world are playing the Switch.

The challenge is whether the company can continue to roll out attractive software to keep the sales momentum going. Analysts say rising computer chip prices may also prove a challenge.

Atul Goyal, an analyst at Jefferies, noted worries about weakening sales of the Switch 2 were overblown, as seen in its strong sales in December, a key shopping season for toys and games.

"We maintain that fears regarding memory cost hike are speculative and strategically manageable," he said in a recent report.

More games are planned for the Super Mario Brothers franchise, which celebrated its 40th anniversary last year, as well as a new Splatoon game, according to Nintendo.

Outside companies are also planning Switch 2 titles, including a "Biohazard" and "Final Fantasy" offerings.

Nintendo stocks, which climbed over the summer months then gradually declined to about the same level they were a year ago, jumped 1.8% Tuesday.

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Japanese game maker Nintendo reports robust profits on hit Switch 2 console

TOKYO (AP) —Nintendoposted a 51% rise in profit for the first three quarters of the fiscal year as the Japanesevideo-game...
Middle East does not need Iran-US war, diplomatic adviser to UAE president says

(Edits first bullet point to make clear UAE is not mediating in US-Iran standoff)

Reuters Former U.S. Secretary of State Mike Pompeo and Diplomatic advisor to the UAE president, Anwar Gargash attend the World Governments Summit, in Dubai, United Arab Emirates, February 3, 2026. REUTERS/Rula Rouhana Former U.S. Secretary of State Mike Pompeo and Diplomatic advisor to the UAE president, Anwar Gargash attend the World Governments Summit, in Dubai, United Arab Emirates, February 3, 2026. REUTERS/Rula Rouhana Diplomatic advisor to the UAE president, Anwar Gargash speaks at the World Governments Summit, in Dubai, United Arab Emirates, February 3, 2026. REUTERS/Rula Rouhana

World Governments Summit, in Dubai

DUBAI, Feb 3 (Reuters) - The Middle East does not need another confrontation between the U.S. and Iran, and Tehran ​needs to reach a nuclear deal with Washington, the diplomatic adviser to the president of regional power ‌United Arab Emirates said at a World Governments Summit panel in Dubai.

Iran and the United States will resume nuclear talks on Friday in Turkey, ‌Iranian and U.S. officials told Reuters on Monday. U.S. President Donald Trump warned that with big U.S. warships heading to Iran, "bad things" would probably happen if a deal could not be reached.

The UAE, a highly influential Gulf Arab power, said a long-term solution was needed.

"I think that the region has gone through various calamitous confrontations. I don't think we need another ⁠one, but I would like to see ‌direct Iranian-American negotiations leading to understandings so that we don't have these issues every other day," the UAE president's advisor Anwar Gargash said.

U.S. Special Envoy Steve Witkoff and Iranian Foreign ‍Minister Abbas Araqchi will meet in Istanbul in an effort to revive diplomacy over a long-running dispute about Iran's nuclear programme and dispel fears of a new regional war. A regional diplomat said representatives from countries such as Saudi Arabia and Egypt would ​also participate.

The U.S. naval buildup near Iran follows a violent crackdown against anti-government demonstrations last month, the deadliest domestic ‌unrest in Iran since its 1979 revolution.

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Trump, who stopped short of carrying out threats to intervene during the crackdown, has since demanded Tehran make nuclear concessions and sent a flotilla to its coast. He said last week Iran was "seriously talking", while Tehran's top security official Ali Larijani said arrangements for negotiations were under way.

The UAE, a regional trade and business hub, has been in the spotlight since December when tensions rose with Saudi Arabia over developments in ⁠Yemen.

The withdrawal of Emirati forces from Yemen following a Saudi airstrike ​did not defuse tensions between two Gulf oil powers with long-running ​differences.

Since then the UAE has faced withering criticism on social media over its support for separatists in Yemen and alleged backing for a paramilitary group accused of atrocities in the devastating war ‍against Sudan's military.

Gargash dismissed the ⁠criticism, saying the noise should be separated from reality.

"I was reading a message that said we were getting 45,000 hate tweets every day on the Sudan issue and on our position in Sudan. And suddenly ⁠Yemen was an issue, and suddenly the Sudan bots were reduced from 45,000 to 3,000 a day, so the whole group moved on ‌to another fight," he said.

(Reporting by Nayera Abdallah, Maha El Dahan,Jana Choukeir, Federico Maccioni; Writing by ‌Michael Georgy; Editing by Sonali Paul, Jacqueline Wong, Philippa Fletcher)

Middle East does not need Iran-US war, diplomatic adviser to UAE president says

(Edits first bullet point to make clear UAE is not mediating in US-Iran standoff) World Governments Summit, i...
Russia fires 450 drones and 70 missiles at Ukraine, a day before US-brokered talks

KYIV, Ukraine (AP) — Russia fired around 450 long-range drones and 70 missiles of various types at Ukraine in a major attack overnight, Ukrainian President Volodymyr Zelenskyy said Tuesday.

Associated Press People take shelter in a metro station, being used as a bomb shelter, during a Russian drones attack in Kyiv, Ukraine, Tuesday, Feb. 3, 2026. (AP Photo/Alex Babenko) A woman rests in a shelter at a metro station during Russia's massive missile and drone attack in Kyiv, Ukraine, Tuesday, Feb. 3, 2026. (AP Photo/Alex Babenko) People take shelter in a metro station, being used as a bomb shelter, during a Russian drones attack in Kyiv, Ukraine, Tuesday, Feb. 3, 2026. (AP Photo/Alex Babenko) People take shelter in a metro station, being used as a bomb shelter, during a Russian drones attack in Kyiv, Ukraine, Tuesday, Feb. 3, 2026. (AP Photo/Alex Babenko)

Russia Ukraine War

The barrage came a day before the two countries were due to attendU.S.-brokered talksin Abu Dhabi, United Arab Emirates, on endingthe all-out war, which Russia launched nearly four years ago.

The bombardment of at least five regions of Ukraine specifically took aim at the power grid, Zelenskyy said, as part of Moscow's ongoing campaign to deny civilians light, heating and running water amid the coldest winter in years. At least 10 people were wounded, officials said.

"Taking advantage of the coldest days of winter to terrorize people is more important to Russia than diplomacy," Zelenskyy said.

He urged allies to send more air defense supplies and bring "maximum pressure" to bear on Russia to end its full-scale invasion, which began on Feb. 24, 2022.

Officials have describedrecent talks between Moscow and Kyiv delegationsas constructive. But aftera year of efforts, the Trump administration is still searching for a breakthrough on key issues such as who keeps the Ukrainian land that Russia's army has occupied, and a comprehensive settlement appears distant. The Abu Dhabi talks were scheduled for Wednesday and Thursday.

Russia has tried to wear down Ukrainians' appetite for the fight by creating hardship for the civilian population.

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It has tried to wreck Ukraine's electricity network, targeting substations, transformers, turbines and generators at power plants. Ukraine's largest private power company, DTEK, said that the overnight attack hit its thermal power plants in the ninth major assault since October.

In Kyiv, officials said that five people were wounded in the strikes that damaged and set fire to residential buildings, a kindergarten and a gas station in various parts of the capital, according to the State Emergency Service.

By early morning, 1,170 apartment buildings in the capital were without heating, Kyiv Mayor Vitali Klitschko said. That set back desperate repair operations that had restored power to all but 80 apartment buildings, he said.

Russia also struck Ukraine's northeastern Kharkiv region, where injuries were reported, and the southern Odesa region.

The attack also damaged the Hall of Fame at the National Museum of the History of Ukraine in the Second World War, at the foot of the Motherland Monument in Kyiv, Ukrainian Culture Minister Tetiana Berezhna said.

"It is symbolic and cynical at the same time: the aggressor state strikes a place of memory about the fight against aggression in the 20th century, repeating crimes in the 21st," Berezhna said.

Follow AP's coverage of the war in Ukraine athttps://apnews.com/hub/russia-ukraine

Russia fires 450 drones and 70 missiles at Ukraine, a day before US-brokered talks

KYIV, Ukraine (AP) — Russia fired around 450 long-range drones and 70 missiles of various types at Ukraine in a major att...
US FDA rejects AstraZeneca's easy-to-use version of lupus drug Saphnelo

Feb 3 (Reuters) - AstraZeneca said on Tuesday the U.S. health regulator has rejected ​its application for a self-injectable version ‌of lupus drug Saphnelo, pushing back the approval timeline ‌for a possible approval to the first half of 2026.

Reuters

The U.S. Food and Drug Administration (FDA) issued a complete response letter for ⁠the subcutaneous version ‌of Saphnelo, which would allow patients to inject the drug themselves at ‍home rather than receiving intravenous infusions at a clinic or hospital.

The Anglo-Swedish drugmaker said it has ​since provided the information requested by ‌the FDA and will continue working with the regulator to advance the application, while the intravenous version of Saphnelo remains commercially available.

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The rejection occurred even as the drug met ⁠its primary goal in ​a late-stage trial by ​significantly reducing activity in systemic lupus erythematosus (SLE), a chronic autoimmune disease that ‍affects more than ⁠3.4 million people globally.

Last December, the European Union had approved the subcutaneous formulation ⁠for adult patients with moderate to severe SLE.

(Reporting ‌by Raechel Thankam Job in Bengaluru; ‌Editing by Sherry Jacob-Phillips)

US FDA rejects AstraZeneca's easy-to-use version of lupus drug Saphnelo

Feb 3 (Reuters) - AstraZeneca said on Tuesday the U.S. health regulator has rejected ​its application for a self-injectab...
Airbus CEO says supply chains are a challenge

DUBAI, Feb 3 (Reuters) - Airbus has faced significant ​challenges in its supply ‌chain with a backlog of aircraft ‌to deliver, CEO Guillaume Faury said on Tuesday.

Engines have been the most ⁠difficult parts ‌to procure in 2025 and 2026, Faury ‍said in an interview at the World Governments Summit in ​Dubai.

He added that there ‌was an acceleration in demand for defense products.

Faury said his company is taking Chinese aircraft manufacturers such as ⁠Comac seriously.

"There ​is so much ​demand that there is probably room for other ‍players," ⁠he added.

(Reporting by Nayera Abdallah, Jana Choukeir, Federico Maccioni, ⁠and Maha El Dahan; Editing ‌by Sonali Paul and ‌Jacqueline Wong)

Airbus CEO says supply chains are a challenge

DUBAI, Feb 3 (Reuters) - Airbus has faced significant ​challenges in its supply ‌chain with a backlog of aircraft ‌to del...
Why China is building so many coal plants despite its solar and wind boom

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 willreduce carbon emissions enoughto 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 ofnew coal powercapacity 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."

At the same time, even largeradditions of wind and solarcapacity nudged down the share of coal in total power generation last year. Power from coal fell about 1% as growth in cleaner energy sources covered all the increase in electricity demand last year.

China added 315 gigawatts of solar capacity and 119 gigawatts of wind in 2025, according to statistics from the government's National Energy Administration.

Blackouts in 2021-22 prompted coal plant building spree

The massive growth in wind and solar begs the question: Why is China still building coal power plants and, by most analyses, way more than it actually needs?

The answer is complicated.

China is at an earlier development stage than the United States or Europe, so it needs more energy to keep growing. If more of the nation's1.4 billion peopleclimb into the middle class, more will be able to afford air conditioners and washing machines.

Electricity is needed to keep China's factories humming and to meet the high power demands ofartificial intelligence, a government priority as it seeks to make the country a leader in technology.

Power shortages in parts of Chinain 2021and 2022 reinforced longstanding concerns about energy security. Some factories temporarilyhalted productionand one city imposed rolling blackouts.

The government's response was to signal that it wanted more coal plants, leading toa surge in applicationsand permits for their construction.

That 2022-23 surge drove the big jump in capacity last year as the new units came on line, said Qi Qin, an analyst at the Centre for Research on Energy and Clean Air and another co-author of the report. "Once permits are issued, projects are difficult to reverse," she said.

Construction started on 83 gigawatts of coal power last year, the report said, suggesting a large amount of new capacity may come online this year.

Excess coal capacity could slow the transition to wind and solar

The government position is that coal provides a stable backup to sources such as wind and solar, which are affected by weather and the time of day. The shortages in 2022 resulted partly froma droughtthat hit hydropower, a major energy source in western China.

Coal should "play an important underpinning and balancing role" for years to come, the National Development and Reform Commission, the lead economic planning agency, said in guidance issued last year on making coal plants cleaner and more efficient.

The China Coal Transportation and Distribution Association, an industry group, said last week that coal-fired power would remain essential for power-system stability, even as other sources of energy replace it.

The risk of building so much coal-fired capacity is it could delay the transition to cleaner energy sources, Qin said. Political and financial pressure will keep the plants operating, leaving less room for other sources of power, she said.

The report urged China to accelerate retirement of aging and inefficient coal plants and commit in its next five-year plan, which will be approved in March, to ensuring that power-sector emissions do not increase between 2025 and 2030.

"Whether China's coal power expansion ultimately translates into higher emissions will depend on ... whether coal power's role is genuinely constrained to backup and supporting rather than baseload generation," Qin said.

Associated Press video journalist Olivia Zhang contributed.

The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP'sstandardsfor working with philanthropies, a list of supporters and funded coverage areas atAP.org.

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

BEIJING (AP) — Even as China's expansion of solar and wind power raced ahead in 2025, the Asian giant opened many mor...
Commission sues Trump administration over refusal to restore New York tunnel funding

By David Shepardson

Reuters

WASHINGTON, Feb 3 (Reuters) - The commission overseeing a massive $16 billion Hudson River tunnel, the linchpin of rail travel between New York and New Jersey, filed suit to force the Trump administration to ​restore funding just days before construction is set to halt on Friday.

U.S. President Donald Trump said in October ‌he had terminated the project and the Transportation Department has refused to release any funding for the project approved during the prior administration.

The Gateway Development ‌Commission, created by New York and New Jersey in 2019 to oversee the project, filed suit late Monday in the U.S. Court of Claims, saying the U.S. Transportation Department breached its contractual obligations by withholding more than $205 million without any legal basis and was seeking to punish Democrats over last fall's government shutdown.

The commission's suit said that, without federal funding this week, it "will be ⁠unable to pay its contractors to continue ‌construction activities, causing work on this critical project to grind to a halt—leaving unfinished work sites with massive holes in the ground, threatening the livelihoods of the many hundreds of construction ‍employees working on the project, burdening GDC with astronomical costs in delays and penalties, and putting into question the future viability of the project."

The White House and USDOT did not immediately comment, but the White House said last week that Democrats "are standing in the way ​of a deal for the Gateway Tunnel Project by refusing to negotiate with the Trump administration. There is nothing ‌stopping Democrats from prioritizing the interests of Americans over illegal aliens and getting this project back on track."

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Democratic Senator Chuck Schumer of New York said the "lawsuit would be unnecessary if President Trump did the right thing for New York and New Jersey and lifted his arbitrary freeze."

Trump's Republican administration has repeatedly targeted major transit and infrastructure projects in Democratic-led states. New York Governor Kathy Hochul and New Jersey Governor Mikie Sherrill -- both Democrats -- praised the lawsuit and urged Trump to relent.

Any failure ⁠of the existing Hudson tunnel, which was built in 1910 and ​heavily damaged by Hurricane Sandy in 2012, would hobble commuting in the ​metropolitan area that produces 10% of the country's economic output and is used by 200,000 travelers daily.

Nearly $2 billion has been spent on the project. The initiative, which received about $15 billion in federal support -- ‍involves repairs to an existing ⁠tunnel and the construction of a new one for passenger railroad Amtrak and state commuter lines between New Jersey and Manhattan.

Gateway said it told USDOT that it was in compliance with federal law.

Trump, a former New York ⁠City real estate developer, refused to approve funding for the project in his first term. The Trump administration is also trying to kill Manhattan's congestion pricing ‌program introduced last year, designed to reduce traffic and raise billions in funds for mass transit.

(Reporting by David ‌Shepardson in Washington; Editing by Christian Schmollinger and Michael Perry)

Commission sues Trump administration over refusal to restore New York tunnel funding

By David Shepardson WASHINGTON, Feb 3 (Reuters) - The commission overseeing a massive $16 billion Hudson River...

 

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