Luke Vargas

And Southwest scores an upgrade in our annual airline rankings.

It's Thursday, January 22nd.

I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News, the top headlines and business stories moving your world today.

We're learning more about what future negotiations over Greenland could look like, a day after President Trump backed off of threats to forcibly acquire the island and called off tariffs he'd promised on European nations.

While the details are still in flux, European officials tell us they could involve Denmark allowing American troops to be stationed at its Greenland bases, Europe boosting Arctic security, and the U.S.

potentially getting a right of first refusal on investments in Greenland's mineral resources.

The journal's Georgy Konchev told me that last item could be a key one for the White House.

Denmark's foreign minister casts Trump's about-face as a relief, saying that yesterday was, quote, ending on a better note than it began.

Though others, like Finland's President Alexander Stubb, speaking here with our Yaroslav Trofimov,

said that any relief was temporary.

So how did the U.S.

U-turn on Greenland go down at Davos?

And what else happened at a gathering that was meant to tackle a slew of global economic challenges?

Who better to ask than journal editor-in-chief Emma Tucker, who's in Davos this morning.

Emma, I think fair to say there was a lot of hand-wringing this week over Trump's push for Greenland and now relief that war seems to have been averted.

A roller coaster certainly for those of us watching from afar, but I'm curious how it all went down with those inside the Davos bubble.

All right.

So the arrival of the U.S.

delegation making for some good dinner theater, it sounds like.

And yet we learned a lot this week, did we not, about America's role in the world and how other countries are positioning themselves in relation to it?