Vladimir Putin said that Russia agrees with the “idea” of ending the war in Ukraine but suggested that negotiations should “remove underlying causes” of the conflict. Mr Putin said that he would support a 30-day ceasefire, an idea proposed by America and Ukraine, though he added that there were “nuances” to consider. Volodymyr Zelensky, Ukraine’s president, was sceptical, saying that Mr Putin was setting so many pre-conditions that “nothing will work out at all”.
America’sS&P 500 stock index entered correction territory, falling by 10% from its record high in February. It slipped by 1.4% on Thursday, after Donald Trump threatened a 200% tariff on alcohol from EU countries. Markets have been spooked by Mr Trump’s erratic protectionism and the prospect of slowing economic growth.
Prosecutors in Belgium arrested several people as part of a corruption case linking Huawei, a Chinese tech firm, and the European Parliament. Lobbyists from Huawei are suspected to have bribed European MPs in exchange for favourable policies. Both the firm and the European Parliament said they would assist authorities with the investigation.
America approved a loan worth $5bn for a liquefied-natural-gas project in Mozambique, run by TotalEnergies, a French oil company. Work on the site was put on hold in 2021 following an attack by Islamist militants. America’s decision could restart the project, which would “significantly help global energy security”, according to Mozambique’s energy minister. The south-east African country has vast untapped gas reserves.
Greenland’s probable new prime minister, Jens-Frederik Nielsen, said he would reject American efforts to take over the semi-autonomous state. Mr Nielsen, whose centre-right Democrats came first in elections this week, also said that he wanted full independence from Denmark. Earlier, Mr Trump told NATO’s commander that America needs Greenland for its security, and that he would probably annex it.
A federal judge ordered six American government agencies, including the treasury and defence departments, to rehire thousands of probationary workers whom the Office of Personnel Management fired at DOGE’s direction. Unions and non-profit organisations sued over the dismissals, which the judge called “unlawful”. Separate “reduction in force” plans drafted in accordance with government rules are allowed to proceed.
Donatella Versace retired as creative director of her fashion house. Ms Versace took on the role nearly 30 years ago, following the murder of her brother—and Versace’s founder—Gianni. She will be succeeded by Dario Vitale, formerly a design director at Miu Miu. Meanwhile Kering appointed Demna Gvasalia, Balenciaga’s designer, to lead its flagship brand Gucci. Luxury firms are currently battling sagging sales.
Figure of the day: 74%, the proportion of Ukrainians who favour fighting even without American support, according to a recent poll. Read the full story.
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