Trump’s Gaza plan triggers international uproar

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

• Honda and Nissan’s merger nears collapse

• Modi’s get together seeks Delhi election victory

• Wall Avenue quizzes US firms over tariff dangers

The White Home has sought to assuage fears of a protracted US army 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 mentioned 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 precipitated 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 total inhabitants of two.2mn must be resettled.

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

The US president’s plan additionally provoked a hostile response from many in his personal get together, 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 stress 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 maintaining tabs on right now:

• 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 breaking point as a majority of Nissan board members agreed to reject the deal after an try by Honda to show its rival into a completely owned subsidiary. Nissan executives have been shocked 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 have been put to the check yesterday as voters in Delhi went to the polls. The state legislature election befell 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 mentioned it might resume accepting packages from China only a day after saying a suspension of the service. The state-backed postal operator has struggled to answer Trump’s resolution 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 shopper 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 infrequently market-moving statements.

5. Jeff Bezos’s $10bn philanthropic fund has stopped backing the Science Primarily based Targets initiative, the main voluntary local weather normal setter that impacts how firms 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 Avenue analysts are bombarding US firms with questions over how they may deal with 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 and monsoon-proof the 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 saved the renminbi’s trade price with the greenback regular in its first official forex repair since Trump hit the nation with tariffs. Merchants had anticipated Beijing to weaken its forex 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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