Ukraine reportedly agreed on terms for a minerals deal with America. It will not include the security guarantees Ukraine had previously asked for, according to the Financial Times. The final agreement, which Ukraine is expected to sign shortly, also apparently does not require Ukraine to pledge $500bn worth of natural resources as a back payment for military aid—as America earlier demanded.
Sir Keir Starmer, Britain’s prime minister, pledged to raise defence spending to 2.5% of GDP per year by 2027, from 2.3%, with a view to eventually reaching 3%. The initial increase, costing £13.4bn ($17bn) annually, will be funded by cutting overseas aid. On Thursday Sir Keir will visit the White House to press Donald Trump to not abandon Ukraine in any peace deal with Russia.
Russia launched an overnight attack on Ukraine, killing two civilians and injuring 36, according to Ukrainian officials. All of the country was under air-raid alerts as Russia targeted multiple regions with drones and missiles. On Monday Emmanuel Macron and Mr Trump said that European troops could serve as peacekeepers in Ukraine, after France’s president travelled to the White House.
Twenty-one staffers of Elon Musk’s Department of Government Efficiency reportedly quit in protest against the group’s ostentatious budget-slashing. The employees, including engineers and data scientists, worked for America’s digital-service unit, which became DOGE. They said their skills were being used to “dismantle critical public services”. Meanwhile the White House confirmed that Mr Musk would participate in Mr Trump’s first Cabinet meeting on Wednesday.
Three hard-right opposition parties in Romania—AUR, SOS Romania, and POT—filed a no-confidence motion against the pro-EU government. Signed by 154 members of parliament, it accuses the government of corruption and economic mismanagement. The vote is expected to fail but could raise the parties’ popularity ahead of a re-run of the presidential election in May. The original ballot was annulled over alleged Russian interference.
Hein Schumacher, Unilever’s boss, said he will step down in March after less than two years in charge. Fernando Fernandez, the consumer-goods conglomerate’s chief financial officer, will replace him. Investors had pushed for better performance after weak earnings. The board said Mr Fernandez was better suited to lead a turnaround plan initiated by Mr Schumacher, which includes job cuts and spinning off the ice-cream business.
The World Health Organisation said that an “unknown disease” in the Democratic Republic of Congo has infected 431 people, and of those killed 53, since the first cases in January. The outbreak first emerged among three children who developed fatal symptoms after reportedly consuming a bat carcass. A second outbreak occurred days later but “no epidemiological links have been established”, the WHO said.
Figure of the day: 6%, the lower tariff rate Converse has secured by reclassifying its canvas sneakers as slippers, avoiding rates as high as 48% for other footwear. Read the full story.
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