FirstFT: Biden brokers Gaza aid deal

Keep yourself updated with complimentary news alerts.

All you have to do is register for the World myFT Digest and it will be sent straight to your email inbox.

Joe Biden, the current President of the United States, recently made history by becoming the first US president to visit Israel during a time of war. During his visit, he advised Israel to not allow their emotions to overtake them in response to the violent assaults committed by Hamas. He encouraged them to avoid making the same mistakes that the US made in the aftermath of the terrorist attacks in 2001.

Yesterday, when Biden came to visit, he sided with Israel in accusing Palestinian militants of mistakenly launching a rocket that caused a fatal explosion at a hospital in Gaza. According to information from the Pentagon, he corroborated this claim. However, he also asked for more transparency regarding Israel's aims in the war and whether they were making progress in achieving them.

The Israeli government is currently getting ready to launch an attack on the ground in Gaza, which many people are worried will make things even more tense in the area. Biden talked to journalists on a plane and said that he had a lengthy discussion with the Israeli authorities about other options, as they are concerned that more innocent people might be hurt and the conflict could escalate further.

Biden requested that Israel permit urgent assistance to enter Gaza and warned that the country could harm its image globally if it did not alleviate the suffering of individuals without any options. Last night, he declared that the president of Egypt, Abdel Fattah al-Sisi, had approved unlocking the Rafah checkpoint from Egypt to Gaza, allowing for the transfer of up to 20 lorries of humanitarian aid. The American head of state declared that regular citizens could obtain aid by Friday.

Israel previously stated that it would not hinder the delivery of "humanitarian aid from Egypt" as long as it only consists of "food, water, and medicine" meant for people residing in southern Gaza, who have had to migrate. However, this would only be possible if the aid does not fall into the hands of Hamas, who commands Gaza. Furthermore, Biden made it clear that shipments would be subject to "inspections."

Here are the most recent developments concerning the conflict.

Palestinians witnessed a fatal explosion at Al-Ahli Arab hospital on Tuesday night, which was described as similar to a doomsday scenario.

The people of the West Bank, who have been living under Israeli occupation for decades, are expressing their frustration towards President Mahmoud Abbas of the Palestinian Authority. They believe that he is ineffective in standing up to Israel's oppressive regime.

Today, Rishi Sunak, the prime minister of the United Kingdom, has arrived in Israel for discussions with Netanyahu. After that, he plans to visit other capital cities in the area.

Here's the other stuff I'm keeping an eye on today:

Economists predict that the sales of already-built homes in the United States will decrease in September. The expected annualized rate is 3.9 million units, a decrease from August's 4.04 million. The root cause for this decline appears to be the increase in mortgage rates, which has deterred potential buyers.

Blackstone, a private equity company headquartered in New York, is preparing to announce financial results for the third quarter. In the second quarter, the company managed over $1tn in assets for the first time ever. Investors will be particularly interested in finding out how much cash the company has available for distribution, which analysts use as a measure of the company's income. This will shed light on whether the slowdown in dealmaking and initial public offerings from the previous quarter impacted Blackstone's earnings.

There is an expectation that the number of newly submitted requests for unemployment benefits will rise to 212,000 during the week ending on the 14th of October. This is an increase compared to the previous week where there were 209,000 filed claims.

Top Five Stories: A Closer Look!

Jim Jordan, a Republican candidate for the position of US House Speaker, failed in his bid for the second time as 22 members of his own party expressed opposition. Despite this setback, Jordan has expressed his readiness to participate in several rounds of voting to secure the coveted Speaker role. Another ballot may happen on Thursday afternoon, and you can learn more about the contentious vote for the speakership by clicking the link.

The Committee to Protect Journalists reported that Alsu Kurmasheva, a Russian-US citizen working for Radio Free Europe/ Radio Liberty, has been captured by Russia for allegedly gathering military information. Kurmasheva may be imprisoned for up to five years if proven guilty. For further details on the detention, check out the supplied link.

Netflix is increasing its subscription fees for users in the United States, United Kingdom and France with immediate effect. This decision has been made following the acquisition of 9 million new members during the third quarter. The increase in users and revenue is largely due to the company’s successful crackdown against password-sharing. The amount of added cost to current subscriptions can be found below.

Meta's lead AI expert, Yann LeCun, has voiced his opposition to hasty regulations for artificial intelligence. He believes that such measures would only further the dominance of established tech companies and hinder competition. In his opinion, the so-called "superiority complex" of certain firms is misguided and displays excessive arrogance in claiming to be the only trustworthy developers of AI. For more information, read the entire interview with LeCun in the Financial Times.

China is set to participate in the UK's upcoming conference on artificial intelligence, despite concerns surrounding supposed espionage activities carried out by Beijing within Westminster's political scene.

The excitement surrounding AI can cause markets to react positively, however, individuals who invest in technology stocks should be cautious about overspending, particularly in the present circumstances. This notable point was shared by Simon Edelsten, an ex-Fund Manager.

The US government has removed some of the restrictions it had placed on Venezuela. This decision was made after rival political parties started talking to each other again. The US Treasury Department has given permission for businesses to resume buying and selling oil and gas in Venezuela for the next six months. However, the US government has warned that if Venezuela does not follow the rules, they will put the restrictions back in place. You can read more about this story by clicking on the link provided.

The nation of Mexico is currently in the process of reviving a deteriorating railway system that spans from the Gulf of Mexico to the Pacific Ocean. This effort is quite ambitious, as the ultimate aim is to attract cargo that would otherwise go through the Panama Canal. Despite already spending quite a few billion dollars on the project, officials believe that the scheme has the potential to breathe new life into the economically underdeveloped regions of Southern Mexico.

Reading And Watching - Broadening Our Horizons

There is a conflict in Ukraine, and the second biggest city called Kharkiv, is taking precautions by constructing underground schools and train stations. They are doing this to protect the citizens from potential missile strikes from Russia and to encourage Ukrainian exiles to return home.

Investigation carried out by FT: A tale of false assassin, a digital currency expert and a mismanaged plot of vengeance conveyed through three years' worth of messages, records, and pictures.

Exploring the possibility of a lunar economy, Peggy Hollinger dives into various concepts that could potentially lead to the next big advancement in space exploration. With countries gearing up to establish permanent crewed bases on the Moon and initiatives to grow food in space, the race to reach the moon has become more intense than ever before. Take a look at this FT film for more insight into this exciting journey to the lunar surface.

Today's Chart

Economic analysts predict that the United States' economy will maintain its advantage over Europe's economy until at least 2024 and potentially beyond. This inequality in economic success became noticeable following the worldwide financial crisis and was strengthened by the COVID-19 pandemic. However, what is the reason for the ongoing contrast between two of the wealthiest areas on the planet?

The image you are looking at is a still picture of a dynamic visual aid. This could be a result of no internet connection or if the JavaScript feature is not activated on your web browser.

"Pause The News"

The filmmaker, Errol Morris, discussed with the FT about his experience in creating a movie about John le Carré, a well-known spy who later became an author, and his techniques in conducting interviews. Morris was previously applauded as the finest private investigator in the country.

Extra inputs provided by Tee Zhuo and Benjamin Wilhelm.

Top Newsletters For You!

Get a weekly boost for your career with Working It! It's your one-stop shop for all the tips and tricks you need to climb the ladder of success. Just subscribe and receive it straight to your email every Wednesday. Don't miss out!

! A Must-Read — The single article you shouldn't miss out on today. Register now!