Daily Briefing

US air strikes in Syria, a major embarrassment for Macron, and bank angst persists

By Linda Noakes

Today's Top News

AeroDrone's Enterprise drone in flight in an undisclosed location, September 2022

At an unassuming industrial estate in northern Ukraine, two former Microsoft executives and a team of engineers are producing military drones that can travel over long distances and carry large payloads. We go inside the scramble for a "game-changer" drone fleet.
King Charles' state visit to France has been delayed after trade unions called for another day of nationwide strikes and street protests during his stay, the French presidency said.
India's parliament disqualified the leader of the opposition Congress party, Rahul Gandhi, a day after a magistrate's court jailed him for two years in a defamation case linked to Prime Minister Narendra Modi's surname.
The US military carried out multiple air strikes in Syria against Iran-aligned groups that it blamed for a drone attack that killed an American contractor, wounded another and also hurt five US troops, the Pentagon said.
US lawmakers grilled TikTok's CEO about potential Chinese influence over the platform and said its short videos were damaging children's mental health, reflecting bipartisan concerns about the app's power over Americans.
North Korea has tested a new nuclear-capable underwater attack drone, state media reported, as leader Kim Jong Un warned joint military drills by South Korea and the US should stop.

Business & Markets

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 23, 2023

Banking stocks fell sharply in Europe with heavyweights Deutsche Bank and UBS Group hit hard by worries that the worst problems in the sector since the 2008 financial crisis were not yet contained.
The European Central Bank is pressing Raiffeisen Bank International to unwind its highly profitable business in Russia, people with knowledge of the matter told Reuters. The push is upping the stakes for Austria and its second-biggest bank.
Business activity across the euro zone unexpectedly accelerated this month as consumers splashed out on services, but weakening demand for manufactured goods deepened the downturn in the factory sector, a survey showed.
Shares of Twitter co-founder Jack Dorsey's Block fell 4% in premarket trading, a day after the payments firm's Cash App business became the latest target of US short seller Hindenburg Research.
Chinese authorities raided the office of US corporate due diligence firm Mintz Group in Beijing and detained five local staff, the company said, stoking concern among foreign companies in China just as it hosts an international economic forum.
Indian industrial giant Reliance is reviving a historic local cola brand with plans to use its vast retail network, slash prices and tap nationalist sentiment to challenge US beverage giants PepsiCo and Coca-Cola in a key market.

The Week Ahead

At the incredible end to the first quarter for financial markets, rattled by bank turmoil, some stability will be much hoped for in coming days. But don't bet on it. Here's a look at the week ahead from our markets team.
Brazilian President Luiz Inacio Lula da Silva heads to China this weekend for a five-day visit to refresh relations with his country's largest export market and seek new Chinese investment in the Latin American country.
Taiwan President Tsai Ing-wen will make sensitive stopovers in the United States on her way to and from Central America that China's foreign ministry condemned.

Photos Of The Week

Protests around the world, extreme weather, and the start of Ramadan - take a look at our top images this week.

And finally...

This artist's illustration shows 'Oumuamua racing toward the outskirts of our solar system

The quirky comet 'Oumuamua, the first interstellar object found visiting our solar system, has been the subject of fascination since being spotted in 2017 - including its curious acceleration as it hurtled away from the sun. Hypotheses included fleeting speculation that it might actually have been an alien spacecraft. A new study has offered a more sober explanation.

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