Good morning. Donald Trump says Russia and Ukraine will begin peace talks. France, Britain and Canada threaten sanctions against Israel. And Brexit never seems to end. Listen to the day’s top stories.
Trump briefed European counterparts after the call, discussing how a ceasefire could be achieved. One European official said leaders disagree with his plan for Russia and Ukraine to talk directly.
France, Britain and Canada threatened sanctions against Israel, warning it to stop military operations in Gaza and to allow humanitarian aid. Benjamin Netanyahu said Israel will continue to defend itself.
Tariff latest: India is negotiating a three-tranche trade deal with the US and expects to reach an interim agreement before July, people familiar said. Japan’s chief negotiator continued to push for the complete removal of additional levies.
The Switch 2 at a launch event on April 2. Photographer: Dimitar Dilkoff/AFP/Getty Images
Nintendo has turned to Samsung to help make the main chips for the Switch 2, people familiar said. The move may help the Japanese company ramp up production of the console.
Deep Dive: Record Breakers
Pfizer will pay $1.25 billion upfront to license an experimental cancer drug out of China in a deal that underscores multinational drugmakers’ growing enthusiasm for Chinese biotech innovation.
The deal grants Pfizer rights to develop and commercialize a drug from Shenyang-based 3SBio.
The drug is currently in clinical testing for multiple tumor types.
In addition to the upfront payment—a record for China licensing deals—3SBio is eligible for up to $4.8 billion in fees if the drug hits all milestones.
3SBio shares jumped as much as 52% in Hong Kong, the most on record.
The aggressive nationalism promoted by Putin and Trump have made far-right populism scary again, swinging several recent elections in favor of centrists, writes Marc Champion. But this reprieve for traditional parties may be short-lived.
European Council President Antonio Costa, UK Prime Minister Keir Starmer and European Commission President Ursula von der Leyen, left to right. Photographer: Jason Alden/Bloomberg
Prime Minister Keir Starmer heralded a “landmark deal” between the UK and the European Union on Monday that he billed as a reset moment for relations. Still, with many details unresolved, Brexit never quite seems to be over.
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