Karoline Leavitt, the White House press secretary, said that Donald Trump has not committed American troops or funding to carry out his proposed takeover of Gaza. Appearing to walk back Mr Trump’s suggestion that Palestinians be “permanently” resettled elsewhere, Ms Leavitt said that they would be “temporarily relocated”. Earlier Hamas rejected Mr Trump’s proposal, and Saudi Arabia reaffirmed its support for an independent Palestinian state.
Talks between Nissan and Honda, two Japanese carmakers, to create the world’s third-largest carmaker by sales, are close to collapsing just months after they began. On Wednesday Nikkei, a news outlet, reported that the two companies had failed to reach an agreement. Nissan insisted it was continuing “various discussions” with Honda. The merger would be a big boost for Nissan, which is floundering.
Javier Milei, Argentina’s president, announced that the country will withdraw from the World Health Organisation. A government spokesman cited “deep differences” over health management, particularly during the covid-19 pandemic, and said that Argentina would not allow an international body to “interfere” in its sovereignty. The move follows America’s exit last month.
Mr Trump signed an executive order that seeks to bar transgender athletes from competing in women’s sports, delivering on a promise he heavily campaigned on. The directive denies funding to schools that do not comply and will be enforced by the Department of Education. It draws authority from Title IX, a sex-discrimination law that the Biden administration tried unsuccessfully to revise to include trans students.
Equinor said it will halve investment in green energy and boost fossil-fuel production. The Norwegian energy giant, which dropped “oil” from its name seven years ago, plans to produce the equivalent of 2.2m barrels of oil a day by 2030, 10% more than previously forecast. The company joins BP and Shell in scaling back investment in renewables. Rising costs and weak margins have hurt the offshore-wind industry.
Santander’s net profit rose by 11% year on year in the fourth quarter to €3.27bn ($3.4bn), bringing full-year earnings up 14% to €12.57bn. Spain’s largest bank benefited from increased lending. It added 8m customers in 2024. In Britain, a core market, net profit climbed by 10% to €331m, as higher lending margins offset a 4% drop in loan volumes. The bank announced €10bn in share buybacks.
The US Postal Service said it will resume accepting parcels from China and Hong Kong after a brief suspension following President Donald Trump’s decision to end duty-free imports under $800, known as de minimis exemptions. The move disrupted shipments from retailers like Shein and Temu. Nearly half of de minimis packages sent to America come from China.
Figure of the day: $12m, the amount Deloitte has earned since 2020 from DEI-related work for America’s Department of Health and Human Services. Read the full story.
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