Europe's defence stocks extend rally as Trump pauses U.S. military aid to Ukraine
Shares in Rheinmetall (RHMG.DE), opens new tab, which provides parts for the Leopard 2 tank, were up around 3%, while sensor maker Hensoldt (HAGG.DE), opens new tab soared 16% and BAE Systems (BAES.L), opens new tab rose 1.7%. Shares in Renk (R3NK.DE), opens new tab rose another 9%.
An index of aerospace and defence companies (.SXPARO), opens new tab rose 0.8%, having logged its biggest one-day jump since November 2020 on Monday after leaders from major European economies agreed to ramp up defence spending, opens new tab.
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The Independent
28 minutes ago
- The Independent
Donald Trump may finally have the measure of Putin
Donald Trump turned out to be wrong, although it may not be tactful to point it out, because the world still needs him to support Ukraine, however grudgingly. But we told him that Vladimir Putin had no interest in making peace, and so it has proved. President Trump thought he could persuade the Russian leader to cut a deal over Ukraine. That approach might not have been as misconceived as it sometimes seemed. It might have been possible that a combination of appeasement, flattery and strong-man talk would have worked. But Putin has shown that he is not interested in negotiation. His belief in a Greater Russia, and possibly his need to wage a permanent war in order to maintain his grip on power, means that the bloodshed will continue, and even Mr Trump can see where the blame lies. It was encouraging, therefore, that Mr Trump shortened the deadline for Russia to avoid enhanced sanctions over the Ukraine war to '10 to 12 days' a few days ago. Mr Trump's deadlines are notoriously variable, but the president's meaning was clear. Equally, Mr Trump's war of words with Dmitry Medvedev, Putin's associate and the former president of Russia, confirms that there is little common ground left between Washington and Moscow. The social media spat culminated in Mr Trump sending two United States nuclear submarines to patrol 'near Russia' – after Medvedev warned the US against being drawn into direct conflict with a nuclear power. Mr Trump should never have threatened to withdraw the US's support for the Ukrainian people, but we should be grateful that he failed to follow through on that threat, even if the precise level of current US support for Volodymyr Zelensky's war effort is shrouded in secrecy. Maybe it was worth trying to do a deal with Putin, although it besmirched the reputation of American democracy that Mr Trump should have subjected Mr Zelensky – a brave leader fighting for his people in a noble cause – to that disgraceful theatrical display in the White House in February. Maybe it was worth Mr Trump rudely waking the peoples of Europe to their responsibility to meet a greater share of the cost of defending their continent. But it should never have been at the expense of the defence of the right of a free people to resist aggression. The international community bore, and continues to bear, a moral duty to defend democracy, human rights and the right to self-determination. All democracies should stand by the Ukrainian people in their time of need, however long that time shall be. No one wants the war to continue for a moment longer, but Mr Trump is now as clear as the rest of the world has been that Putin is responsible for prolonging the bloodshed. The war could end today if Putin wanted it to. For all the capriciousness of the US president, and for all the bombast of his social media communications, it seems that Mr Trump understands that Putin, and his proxy Medvedev, must not be appeased. Sending US nuclear submarines to patrol 'near Russia' is a symbolic gesture, but if what it symbolises is an increased willingness on the part of Mr Trump to support Ukraine against Putin's aggression, then it is to be welcomed.
Daily Mirror
29 minutes ago
- Daily Mirror
Donald Trump made a major change to the White House and people are furious
During his first Presidency, Trump was reported to have complained that the White House is not to his taste - allegedly branding it "a real dump". Now he's decided to make some changes People are venting their fury at a major change Donald Trump has made to the White House. During his first Presidency, Trump was reported to have complained that the White House is not to his taste - allegedly branding it "a real dump". So this time around he's decided to make some changes. The first and most obvious change was the lashings of gold he applied to the Oval Office. He also added a pair of enormous mirrors to the walls of the most famous office in the world. But he's long threatened to make more permanent changes to the 'People's House'. And the first step of that renovation has been unveiled. He's paved over the world famous White House Rose Garden. The garden has remained more or less the same since 1961 when it was redesigned by Rachel Lambert Mellon during John F Kennedy's administration. Melania Trump made some tweaks to it in 2020, but nothing huge. But this time round it's a different story. Trump has replaced the entire lawn with a long, grey patio of paving stones. The corners of the patio are decorated with the Seal of the President. And someone thought it would be appropriate to make the drain holes in the shape of the American flag. It's fair to say the change has not been warmly received. Four Seasons Total Landscaping - where Rudy Giuliani held a deeply weird press conference by mistake the day Trump lost the 2020 election - is particularly unimpressed. The Republicans Against Trump Twitter account was similarly fuming. But Trump isn't going to stop there. New images have emerged of his plan to tack an enormous, gaudy ballroom onto the East Wing. And it looks remarkably like the one in his Mar A Lago club in Florida. Funny thing, Mar A Lago also has a patio, where Trump is very fond of holding court with guests and hangers on. Trump for months has been promising to build a ballroom, saying the White House doesn't have space big enough for large events and scoffing at the notion of hosting heads of state and other guests in tents on the lawn as past administrations have done for state dinners attended by hundreds of guests. The East Room, the largest room in the White House, can accommodate about 200 people. Trump said he's been planning the construction for some time. "They've wanted a ballroom at the White House for more than 150 years but there's never been a president that was good at ballrooms," Trump told reporters Thursday. "I'm good at building things and we're going to build quickly and on time. It'll be beautiful, top, top of the line." He said the new ballroom would not interfere with the mansion itself. "It'll be near it but not touching it and pays total respect to the existing building, which I'm the biggest fan of," he said of the White House. "It's my favorite. It's my favorite place. I love it." Trump said the ballroom will serve administrations to come. "It'll be a great legacy project," he said. "I think it will be really beautiful." The 90,000-square-foot ballroom will be built where the East Wing sits with a seated capacity of 650 people. The East Wing houses several offices, including the first lady's. Those offices will be temporarily relocated during construction and that wing of the building will be modernized and renovated, said White House press secretary Karoline Leavitt. "Nothing will be torn down," she said. White House chief of staff Susie Wiles said the president and his White House are "fully committed" to working with the appropriate organizations to preserve the mansion's "special history." "President Trump is a builder at heart and has an extraordinary eye for detail," Wiles said in a statement. Get Donald Trump updates straight to your WhatsApp! As the world attempts to keep up with Trump's antics, the Mirror has launched its very own US Politics WhatsApp community where you'll get all the latest news from across the pond. We'll send you the latest breaking updates and exclusives all directly to your phone. Users must download or already have WhatsApp on their phones to join in. All you have to do to join is click on this link, select 'Join Chat' and you're in! We may also send you stories from other titles across the Reach group. We will also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose Exit group. If you're curious, you can read our Privacy Notice. Leavitt said at her briefing Thursday that Trump and other donors have committed to raising the approximately $200 million in construction costs. She did not name any of the other donors. The president chose McCrery Architects, based in Washington, as lead architect on the project. The construction team will be led by Clark Construction. Engineering will be provided by AECOM. Trump also has another project in mind. He told NBC News in an interview that he intends to replace what he said was a "terribly" remodelled bathroom in the famous Lincoln Bedroom with one that is closer in style to the 19th century.
Reuters
29 minutes ago
- Reuters
US envoy tells Israeli hostage families he is working on plan to end Gaza War
JERUSALEM, Aug 2 (Reuters) - President Donald Trump's Middle East envoy told families of hostages being held by Palestinian militant group Hamas on Saturday that he was working with the Israeli government on a plan that would effectively end the war in Gaza. Trump has made ending the conflict a major priority of his administration, though negotiations have faltered. Steve Witkoff is visiting Israel as its government faces mounting pressure over the deteriorating humanitarian conditions in the enclave. In a recording of the meeting, reviewed by Reuters, Witkoff is heard saying: "We have a very, very good plan that we're working on collectively with the Israeli government, with Prime Minister Netanyahu ... for the reconstruction of Gaza. That effectively means the end of the war." The White House did not immediately respond to a request for comment on his remarks. Witkoff also said that Hamas was prepared to disarm in order to end the war, though the group has repeatedly said it will not lay down its weapons. In response to the reported remarks, Hamas, which has dominated Gaza since 2007 but has been militarily battered by Israel in the war, said it would not relinquish "armed resistance" unless an "independent, fully sovereign Palestinian state with Jerusalem as its capital" is established. Indirect negotiations between Hamas and Israel aimed at securing a 60-day ceasefire in the Gaza war and deal for the release of half the hostages ended last week in deadlock. On Saturday, Hamas released its second video in two days of Israeli hostage Evyatar David. In it, David, skeletally thin, is shown digging a hole, which, he says in the video, is for his own grave. Witkoff met with Netanyahu on Thursday. Afterward, a senior Israeli official said an understanding between Israel and Washington was emerging that there was a need to move from a plan to release some of the hostages to a plan to release all the hostages, disarm Hamas and demilitarize the Gaza Strip, echoing Israel's key demands for ending the war. On Tuesday, Qatar and Egypt, who are mediating ceasefire efforts, endorsed a declaration by France and Saudi Arabia outlining steps toward a two-state solution to the Israeli-Palestinian conflict. As part of it, they said Hamas must hand over its arms to the Western-backed Palestinian Authority. Witkoff arrived in Israel with Netanyahu's government facing a global outcry over devastation in Gaza and the starvation growing among its 2.2 million people. The crisis has also prompted a string of Western powers to announce they may recognize a Palestinian state. On Friday, Witkoff visited a U.S.-backed aid operation in southern Gaza, which the United Nations has partly blamed for deadly conditions in the enclave, saying he sought to get food and other aid to people there. Dozens have died of malnutrition in recent weeks after Israel cut off all supplies to the enclave for nearly three months from March to May, according to Gaza's health ministry. It said on Saturday that it had recorded seven more fatalities, including a child, since Friday. Israel blames Hamas for the suffering in Gaza and says it is taking steps for more aid to reach its population, including pausing fighting for part of the day in some areas, air drops and announcing protected routes for aid convoys. U.N. agencies have said that airdrops of food are insufficient and that Israel must let in far more aid by land and quickly ease the access to it. The Gaza war began when Hamas killed more than 1,200 people and took 251 hostage in an attack on southern Israel on October 7, 2023, according to Israeli figures. Israel's offensive has since killed more than 60,000 Palestinians, according to Gaza health officials. According to Israeli officials, 50 hostages now remain in Gaza, only 20 of whom are believed to be alive.
