Trump’s Gaza plan triggers global uproar

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

• Honda and Nissan’s merger nears collapse

• Modi’s social gathering seeks Delhi election victory

• Wall Avenue quizzes US corporations 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 bottom”.

Press secretary Karoline Leavitt mentioned that whereas the president had made a “historic proposal for the US to take over Gaza”, he had “not dedicated” to sending in US troops “simply but”.

Leavitt’s feedback come a day after Trump precipitated uproar within the US and world wide with a proposal that the US ought to “take management” 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 impartial 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 reaction from many in his own party, with some Republicans saying it strayed from his “America First” agenda.

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

• Opinion: The strain will probably 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 conserving tabs on as we speak:

• 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 prime 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 totally owned subsidiary. Nissan executives were taken aback by the new proposal, which was delivered as a “take it or depart it” provide.

2. Prime Minister Narendra Modi’s overtures to India’s beleaguered center class had been put to the check yesterday as voters in Delhi went to the polls. The state legislature election happened after Modi’s authorities final week introduced tax breaks for middle-income earners amid a broader financial slowdown. Read more about the vote.

3. The US Postal Service mentioned it might 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 resolution to place tariffs on lower-priced items, together with parcels from large Chinese ecommerce groups including Temu and Shein.

• EU probes Shein: Brussels has launched an investigation into the China-founded ecommerce platform amid issues that the corporate is violating European shopper safety guidelines by selling illegal products.

4. UnitedHealth Group has raised issues with the highest US securities regulator over a social media put up by activist investor Invoice Ackman, who claimed that the healthcare group could be inflating its profits. 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 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 “web 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 corporations with questions over how they will cope with Donald Trump’s trade wars, in an early signal of how the president’s insurance policies are rippling via company America.

We’re additionally studying . . . 

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

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

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

Chart of the day

China has stored the renminbi’s change price 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. Here’s how analysts interpreted yesterday’s fix.

Take a break from the information . . . 

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