Good morning. Donald Trump will travel to Israel for the hostage release. The US launches a financial rescue of Argentina. And Ferrari’s first electric supercar is set to test the loyalty of its customer base. Listen to the day’s top stories.
— Victoria Batchelor
Donald Trump said he’ll travel to Israel to be on hand for the release of hostages under the terms of a deal to end the war with Hamas. Israel’s government signed off on the agreement that will see Hamas release remaining hostages held in Gaza in exchange for more than 2,000 prisoners.
Emmanuel Macron is set to name a new prime minister by this evening as France’s political and business elites jockey for influence. The nation’s central bank said the economy has been resilient in recent months despite heightened political uncertainty weighing on business leaders.
Belgian authorities said they uncovered a terrorist plan to target the country’s politicians, including Prime Minister Bart De Wever, after a number of raids were carried out in Antwerp.
Corporate roundup: Microsoft’s data-center crunch will last longer than the company has previously outlined, people familiar said. Balyasny’s Peter Goodwin started an equities trading team to run as much as $15 billion. Jane Street is said to be expanding into physical natural gas trading.
Check out our Markets Today live blog for all the latest news and analysis relevant to UK assets.
Ferrari’s factory in Maranello. Photographer: Gaia Squarci/Bloomberg
Ferrari and its constellation of engineers, marketers and dealers face a big challenge: translating the appeal of its growling supercars to Elettrica, the company’s first all-electric model.
The trick will beto bring the soul of the Prancing Horse to a car that will lack many of the touch points of its fossil-fueled predecessors: no spitting exhaust pipes, no bragging rights at the gas station, just the amplified hum of its four electric motors.
Elements of the Elettrica were unveiled yesterday at an investor day in Maranello, Italy, ahead of deliveries starting in late 2026.
The coming-out was marred by financial projections that disappointed investors, sending Ferrari shares tumbling in Milan by the most on record.
To get its changeover right, the company will need to transfer the passion it’s built over 80 years to the electric age, while fending off rivals from China that have had a head start.
The UK needs to take a harder stance on China, Matthew Brooker writes. The British state still has no coherent approach for dealing with the most consequential rising power of the 21st century.
Signs are emerging that the worst may be over for the UK labor market, according to a survey closely monitored by the Bank of England. “We can hope that the jobs market and the economy may be moving towards calmer waters,” said Neil Carberry, chief executive of the Recruitment & Employment Confederation.
