Good morning. Israel and Hamas agree to a ceasefire deal. Keir Starmer travels to Ukraine. And Joe Biden warns of American oligarchy. Listen to the day’s top stories.

Israel and Hamas agreed to a ceasefire deal that will start on Sunday and last for six weeks, Qatari and US officials said. Hamas will release 33 hostages while Israel will withdraw from populated areas of Gaza and free hundreds of Palestinian prisoners.

Ukrainian President Volodymyr Zelenskiy’s administration is concerned about Britain’s more cautious approach to offering support under Prime Minister Keir Starmer, people familiar said. The PM visits Ukraine today. 

Euro-area inflation is under control, European Central Bank Governing Council member Mario Centeno told Portugal’s RTP3. And interest rates will probably fall over time too, ideally to “close to 2%.”

President Joe Biden warned of power concentrating among a few ultra-wealthy people in his farewell address. “Today an oligarchy is taking shape in America—of extreme wealth, power and influence that literally threatens our entire democracy.”

Canada has prepared an initial list of $105 billion of US products to target with tariffs if President-elect Donald Trump imposes levies on Canadian goods, a person familiar said.

Deep Dive: Big Booze

With alcohol sales falling in the US and China, Big Booze is looking to India for a new generation of drinkers.

• India’s mix of youth and wealth–combined with the sheer size of the market–is an irresistible draw for international spirits makers.
• Almost 20 million people reach drinking age every year in India, and as the country’s economy grows, so does its affluent middle class.
• Diageo, one of the world’s biggest spirits makers, has been tinkering with cocktails in India for some time.

The Big Take

Listen to the Big Take podcast here.

Opinion

Elon Musk’s Robotopia will bloom in aging Europe, writes Lionel Laurent. Given the continent has missed a lot of tech revolutions, it should aim to stay on top of automation as one of the answers to the productivity and population crunch it faces.

Before You Go

Photographer: Leon Bennett/The Hollywood Reporter

Wrexham owners Ryan Reynolds and Rob McElhenney are going to Colombia. A US investment group including the pair bought La Equidad, a top division Colombian football team that finished 13th last season.

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