Hamas called Donald Trump’s proposal to take over Gaza a “recipe for creating chaos”; Saudi Arabia rejected the suggestion, and reaffirmed its support for an independent Palestinian state. On Tuesday Mr Trump said that America could “own” the strip after its 2m Palestinians are “permanently” resettled in neighbouring countries. America’s president suggested the enclave could be developed into “the riviera of the Middle East”.
The US Postal Service temporarily stopped accepting parcels from China and Hong Kong after Mr Trump scrapped a rule allowing duty-free imports under $800, known as de minimis exemptions. The move will disrupt shipments from retailers like Shein and Temu. Nearly half of de minimis packages sent to America come from China.
Talks between Nissan and Honda, two Japanese carmakers, to create the world’s third-largest carmaker by sales, could collapse just months after they began. On Wednesday Nissan said it was continuing “discussions” with Honda, including the possibility of withdrawal, as earlier reported by Nikkei, a news outlet. The merger could have been a big boost for Nissan, which is floundering.
The Philippines’ House of Representatives voted to impeach Sara Duterte, the vice-president, ahead of elections in May. Ms Duterte is accused of misusing public funds and threatening to assassinate the president, Ferdinand “Bongbong” Marcos”; she denies all charges. The Marcoses and Dutertes, two political dynasties, formed an alliance to win an election in 2022—but they began feuding shortly thereafter.
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 Aga Khan, a dazzlingly rich philanthropist, horse-racing aficionado and spiritual leader of the world’s 15m Ismaili Muslims, died aged 88. The 49th hereditary imam, who was considered by his followers to be a direct descendant of the Prophet Muhammad, “passed away peacefully” in Portugal. His heir has not yet been named.
Figure of the day: 460, the number of words in the average British parliamentary speech, down from almost 1,000 in 1938. Read the full story.
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