Trump’s Gaza plan triggers world uproar

Good morning. We begin with the fallout from Donald Trump’s shock proposal for the US to “take over” Gaza. Additionally in at this time’s publication:

• Honda and Nissan’s merger nears collapse

• Modi’s social gathering seeks Delhi election victory

• Wall Road quizzes US corporations over tariff dangers

The White Home has sought to assuage fears of a protracted US navy intervention in Gaza, insisting Donald Trump’s plan for Washington to imagine management of the enclave didn’t essentially imply placing “boots on the ground”.

Press secretary Karoline Leavitt stated that whereas the president had made a “historic proposal for the United States to take over Gaza”, he had “not committed” to sending in US troops “just yet”.

Leavitt’s feedback come a day after Trump triggered uproar within the US and all over the world with a proposal that the US ought to “take control” of the Palestinian enclave and that its complete inhabitants of two.2mn must be resettled.

Saudi Arabia, a key US ally within the Center East, stated its assist for an impartial Palestinian state was “firm and unwavering” and a situation for re-establishing diplomatic relations with Israel — an settlement that Trump was broadly anticipated to pursue.

The US president’s plan additionally provoked a hostile response from many in his personal social gathering, with some Republicans saying it strayed from his “America First” agenda.

• Trump’s grandiose Center East playbook: A clear sample has emerged within the historical past of the US president’s interventions within the Arab-Israeli battle.

• Opinion: The strain can be on the Saudis and their Arab companions to persuade Trump of the calamity his scheme dangers unleashing, writes Andrew England.

Right here’s what else we’re preserving tabs on at this time:

• Financial knowledge: Vietnam and Thailand report January CPI inflation figures.

• Outcomes: Nippon Metal, Nikon, Amazon, Itochu, Suzuki Motor, AstraZeneca and Eli Lilly report earnings.

5 extra high tales

1. The $58bn merger between Honda and Nissan is on the snapping point as a majority of Nissan board members agreed to reject the deal after an try by Honda to show its rival into a totally owned subsidiary. Nissan executives had been stunned by the brand new proposal, which was delivered as a “take it or leave it” provide.

2. Prime Minister Narendra Modi’s overtures to India’s beleaguered center class had been put to the take a look at yesterday as voters in Delhi went to the polls. The state legislature election occurred after Modi’s authorities final week introduced tax breaks for middle-income earners amid a broader financial slowdown. Learn extra concerning the vote.

3. The US Postal Service stated it could resume accepting packages from China only a day after asserting a suspension of the service. The state-backed postal operator has struggled to answer Trump’s choice to place tariffs on lower-priced items, together with parcels from massive Chinese language ecommerce teams together with Temu and Shein.

• EU probes Shein: Brussels has launched an investigation into the China-founded ecommerce platform amid considerations that the corporate is violating European client safety guidelines by promoting unlawful merchandise.

4. UnitedHealth Group has raised considerations with the highest US securities regulator over a social media submit by activist investor Invoice Ackman, who claimed that the healthcare group might be inflating its earnings. Ackman has an extended historical past of utilizing social media to make provocative and sometimes market-moving statements.

5. Jeff Bezos’s $10bn philanthropic fund has stopped backing the Science Based mostly Targets initiative, the main voluntary local weather customary setter that impacts how corporations together with Apple and H&M can obtain a reputable “net zero” label. The transfer is seen because the billionaire’s newest effort to curry favour with Trump.

Information in-depth

Wall Road analysts are bombarding US corporations with questions over how they’ll address Donald Trump’s commerce wars, in an early signal of how the president’s insurance policies are rippling by means of company America.

We’re additionally studying . . . 

• South-east Asia’s alternative: Funding is pouring into the area, writes Chris Miller, however extracting worth is proving tougher than anticipated.

• Mumbai potholes: An try to monsoon-proof town’s roads has left the streets in a state of disarray, writes Chris Kay.

• Netflix: The streaming group is betting on reside occasions and an old-school addition to its line-up — the chat present — to spice up its nascent advertisements enterprise.

Chart of the day

China has stored the renminbi’s alternate charge with the greenback regular in its first official foreign money repair since Trump hit the nation with tariffs. Merchants had anticipated Beijing to weaken its foreign money in response to US levies and a stronger greenback. Right here’s how analysts interpreted yesterday’s repair.

Take a break from the information . . . 

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