Good morning. France gets a new prime minister. Donald Trump floats the idea of more tariffs to coerce Vladimir Putin into Ukraine talks. And the new iPhone is here. Listen to the day’s top stories.

— Lily Nonomiya

A new PM. French President Emmanuel Macron named Sebastien Lecornu his new prime minister, the country’s fifth in two years. Lecornu, 39, was defense minister in the previous cabinet. A grassroots movement called Bloquons Tout, or “Let’s Block Everything,” is holding protests that will affect schools, regional trains and cause airline delays and cancellations.

The new iPhone is here. Apple introduced its thinnest-ever iPhone and new Pro versions with enhanced cameras and more battery life. The iPhone 17 Air is just 5.6 millimeters thick, making it about a third slimmer than Apple’s current handsets. Our reporters say the revamp might be enough to tempt upgraders. Blood-pressure notifications were added to the high-end smartwatch models. 

Trump told European officials he’s willing to impose sweeping new tariffs on India and China to push President Vladimir Putin to the negotiating table with Ukraine—but only if EU nations do so as well. Moscow is already under crippling sanctions, but has been able to skirt some of their impact. Read how France and Germany have led an EU push to sanction Russian oil companies.

Israel’s attack against Hamas in Qatar drew rare public criticism from Trump. The unilateral attack didn’t advance Israeli or American goals in trying to bring an end to the Middle East conflict, the White House said.

Novo Nordisk will cut 9,000 jobs to save $1.3 billion by 2026 and lowered its profit forecast for the third time this year.

Drug advert curbs. The US announced a crackdown on pharmaceutical advertising on television and social media platforms, potentially disrupting billions of dollars in annual ad spending. Trump signed a memorandum that calls on federal health agencies to require drug companies to disclose more side effects in their ads.

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Deep Dive: Something to Chew On 

At Bamba, the Smoke & Miraa cocktail mixes mezcal and jaba juice. Photographer: Paul Stremple

Kenyans have long chewed khat to get buzzed—now it’s an energy drink.

• While older men in East Africa have chewed the plant for centuries, a new crop of entrepreneurs is making it more palatable to everyone else. Kenyan farmers produced about 32,000 metric tons of khat in 2024, worth roughly $100 million. Although banned in the US and Europe, it remains popular in the Horn of Africa and Yemen.
• Known as Jaba juice in its brewed form, the concoction is the most promising new way to consume khat, though the drinks are considerably more expensive than chewing. Bamba, a popular Nairobi restaurant known for live music, makes a daily batch of its own juice that has become a fashionable alternative to imported energy drinks like Red Bull. 

Opinion

Monte Paschi’s triumph over Mediobanca is closer to a political stitch-up and may well destroy shareholder value, writes Paul J. Davies. If there is a win here, it’s serving Italy’s push for a third banking force and a full exit from its Monte Paschi stake.

Before You Go

Photographer: Tim Rue/Bloomberg

More than 60 cargo containers crashed into the water Tuesday morning when they toppled from a ship berthed at California’s Port of Long Beach. It isn’t clear what was in them, though local reports said shoes and clothing were seen floating in the water, and some containers appeared to have sunk.

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