Good Morning H-TOWN! Bundle up, the weather gods have us on freeze alert this week. We’ve got a somber start with a tragic accident on I-45, and plenty more to cover—from blocked mergers and arms deals in Washington to a looming TikTok ban and extended OPEC+ production cuts.

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H-TOWN HEADLINES

• Weather Alert: Houston is experiencing a significant temperature drop this week. After a high of 76°F on Sunday, temperatures are expected to plummet to lows around 31°F by Monday night. A Freeze Warning is in effect from midnight until 9:00 AM CST on Monday. Houstonians should take precautions to protect plants, pets, and pipes from freezing conditions.

• Tragedy: A man was fatally struck by a vehicle while walking along the southbound lanes of I-45 in North Houston early Sunday morning. Houston police responded to the incident around 2:30 AM. The driver remained at the scene, and no charges have been filed.

NATIONAL HEADLINES

• US Steel Merger Blocked: President Joe Biden has blocked a proposed merger between US Steel and Japan's Nippon Steel, citing national security and supply chain concerns. This decision signals a potential shift in the US stance toward foreign investment in critical industries.

• Final Biden Arms Sale to Israel: As his term concludes, President Biden has notified Congress of an $8 billion arms deal to Israel amid its ongoing conflict with Hamas in Gaza. The package includes bombs, missiles, and other armaments, reflecting robust US support for Israel.

• TikTok Faces Potential US Ban: TikTok faces imminent expulsion from US app stores due to a law requiring its Chinese owner, ByteDance, to divest. The deadline is January 19, just before President-elect Donald Trump takes office. While President Biden could extend this deadline, no such plans have been indicated.

• OPEC+ Production Cuts: The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, have extended production cuts until the end of 2026 to stabilize prices amid concerns of oversupply.

• Rare Earths Startup: BMW and Yamaha Motor have invested in Phoenix Tailings, a US-based rare earths processing startup. The company claims to have developed a low-emission refining process for rare earths, critical for manufacturing electric vehicles and electronics. This move comes amid efforts to find alternatives to China's dominance in rare earth processing.