Morning Briefing: Europe
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Good morning. Israel plans to take full control of Gaza City. Elon Musk pulls the plug on a Tesla project. And an artist combines Porsches with centuries-old stained glass. Listen to the day’s top stories.

Israel’s security cabinet approved Benjamin Netanyahu’s plans to take full control of Gaza City, as part of a final push to topple Hamas and end 22 months of fighting. Shortly after the decision, the rumble of ordnance could be heard from Gaza every minute or so from a distance of about 50 kilometers away.

Donald Trump said he’d be willing to meet with Vladimir Putin, even if the Russian leader hadn’t yet agreed to also sit down with Ukrainian President Volodymyr Zelenskiy. The signal from Trump suggested an increased willingness to grant the Kremlin’s request for a one-on-one meeting. 

Tesla is disbanding its Dojo supercomputer team and its manager will leave the company, upending the automaker’s effort to develop in-house chips for autonomous driving. Elon Musk ordered the effort to shut down as the team had lost about 20 workers recently to newly formed DensityAI.

Meanwhile, Mark Zuckerberg's Meta is getting financing help from some of the largest names in private credit for his AI data center expansion plan. Pacific Investment Management and Blue Owl Capital were selected to lead a $29 billion financing for the project in rural Louisiana.

A burnt vineyard after a fire in Tournissan, southern France on Aug. 7. Photographer: Idriss Bigou-Gilles/AFP/Getty Images

French wine makers have seen extensive damage to vines after the worst fires in more than 70 years burned through the south of the country. “ The situation is catastrophic,” said Franck Saillan at the Aude winegrowers syndicate. Just 10 days before the harvest was set to begin in the region, the grapes can no longer be used due to smoke damage and traces of chemical fire retardants sprayed by firefighters, he said.

Deep Dive: Gold Bug

So much for gold being a haven. The premium for gold futures in New York over the London spot price jumped after the Financial Times reported that US imports of one-kilogram bullion bars are now subject to tariffs.

  • There is widespread confusion over whether the latest customs apply to imports from Switzerland, which has so far  failed to clinch a trade deal with the US, or to all imports of one-kilo bars, said David Wilson at BNP Paribas.

The Big Take

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Opinion

England’s sparkling wine is losing its fizz, Marcus Ashworth writes. The industry needs to grow up fast, consolidate and also diversify—otherwise it will wither on the vine as just a quirky oddity only bought because you’re British.

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Before You Go

Vintage Porsches destroyed in the Los Angeles fires are being transformed into dazzling art pieces. Stained-glass artist Ben Tuna’s Resurrection series combines centuries-old church glass with burned-out car shells.

Watch the Video
Meet The Man Turning Torched Porsches Into Art

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