International News 19 January 2026
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China’s Power Consumption Hits Record as Tech and EV Sectors Drive Demand
China’s electricity consumption rose 5% in 2025, reaching a record 10.37 trillion kilowatt-hours for the first time, according to the National Energy Administration. The total surpassed the combined power use of the European Union, Russia, India, and Japan in 2024, highlighting the scale of China’s energy demand growth. The surge was driven mainly by high-tech industries. Electricity use in internet and related services jumped over 30% in the first 11 months of 2025, while demand from new energy vehicle manufacturers—including electric and hybrid vehicles—rose by more than 20%, underscoring the rapid expansion of China’s digital and EV ecosystems.
Elon Musk Sues OpenAI and Microsoft, Seeks Up to $134 Billion in Damages
Elon Musk has filed a federal lawsuit against OpenAI and Microsoft, seeking up to US$134 billion in damages, claiming he is entitled to what he describes as “unjustly earned profits” stemming from his early support of OpenAI. Court filings state that OpenAI allegedly generated between US$65.5 billion and US$109.4 billion from Musk’s contributions since co-founding the company in 2015, while Microsoft is said to have gained US$13.3 billion to US$25.1 billion. Musk argues that these gains should be returned to him, similar to outsized returns typically earned by early startup investors. Musk, who left OpenAI in 2018 and now leads rival AI firm xAI, accuses OpenAI of abandoning its original nonprofit mission after restructuring into a for-profit entity. He claims to have contributed around US$38 million, or roughly 60% of OpenAI’s initial funding, alongside helping recruit talent and providing early credibility. The case will be heard by a jury in Oakland, California, with trial expected to begin in April. In addition to damages, Musk may seek punitive damages and court injunctions if liability is established. OpenAI has dismissed the lawsuit as baseless, while Microsoft denies any wrongdoing or collusion.
Venezuela Channels US$300 Million of Oil Revenues Through Banks to Ease Dollar Shortage
The Venezuelan government has informed four private banks that they will split about US$300 million of oil revenue that was deposited in an account in Qatar, allowing those banks to sell U.S. dollars to Venezuelan companies that urgently need foreign exchange to pay for imported raw materials and supplies. The funds, drawn from oil earnings, are being released at a time when dollar availability in Venezuela has tightened sharply after U.S. actions, including the seizure of oil tankers, disrupted the country’s main revenue stream. Each of the four banks is expected to receive around US$75 million, which they can then sell to domestic firms under central bank guidelines. This move is aimed at easing Venezuela’s foreign exchange crunch, as many local businesses have long had to trade bolivars for dollars held by the central bank to import essential goods. The revenue transfer is part of a broader arrangement under which the United States has already completed the first US$500 million in Venezuelan oil sales from a larger US$2 billion deal, with the main account for these transactions reportedly based in Qatar.