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Weekend Briefing

From Reuters Daily Briefing

By Robert MacMillan, Reuters.com Weekend Editor

Welcome to the Weekend Briefing. The Nazis stole an estimated 600,000 artworks from Jewish families. More than 100,000 were never returned. Here’s how a retired Dutchman tracked one down in Argentina. Our City Memo highlights the charms of Minneapolis, and the On Assignment podcast takes us to Kalundborg – the town that Wegovy helped build.

Why Hamas gambled on giving up Gaza hostages

REUTERS/Shir Torem

One phone call: Trump got Benjamin Netanyahu on the phone to apologize to Qatar’s prime minister for Israel’s failed attempt to kill Hamas negotiators in Doha. That, Hamas sources say, persuaded them to sign the ceasefire deal despite knowing the gamble could backfire. Arab American Trump supporters worry that the deal won’t hold. Gazans picked through the ruins of their homes. And our Chart of the Week highlights food insecurity in Gaza.
And in Ukraine: Crews restored power to many parts of Ukraine after a Russian drone-and-missile attack struck energy facilities and cut water supplies. Melania Trump said Russia returned some Ukrainian children to their families after she secured a line of communication with Vladimir Putin.

Trump threatens new tariffs against China

Markets spiral: Stocks and Treasury yields fell, the dollar weakened and gold again vaulted over $4,000 an ounce after Trump complained about what he called China’s plans to hold the global economy hostage after Beijing expanded its rare-earths export controls. Trump also said he might cancel a meeting with Xi Jinping, one which China never publicly confirmed. Analysts’ reactions capture the confusion that the president spawned.
Irrational exuberance, the sequel: Alan Greenspan’s catchy phrase presaged the dotcom bust. Now some wonder whether artificial intelligence is setting us up for another bubble. Fed Governor Neel Kashkari said AI won’t quickly replace U.S. workers, but investment in AI data centers could raise the cost of borrowing, even if the Fed reduces its short-term policy rate.

U.S. starts laying off federal workers

Shutdown: Trump has repeatedly threatened to fire federal workers since government funding ran out at the beginning of October. He said not every employee might get the back pay to which they’re entitled. Flight delays are up, airlines asked travelers for patience, that most elusive of commercial-aviation qualities, and Transportation Secretary Sean Duffy said he would fire air-traffic controllers who repeatedly fail to show up for work. Learn more on who has been furloughed and who hasn’t.
Chicago: Four weeks into Trump’s Operation Midway Blitz, mass arrests have stirred fear among immigrants and prompted educators to distribute “know your rights” leaflets. A judge blocked Trump’s deployment of National Guard troops to Chicago, while an appeals-court panel might clear the way for the U.S. to send troops to Portland, Oregon.

ICC convicts Darfur militia leader for war crimes

Sudan: The World Court found Janjaweed leader Ali Muhammad Ali Abd-Al-Rahman guilty of 27 counts of crimes against humanity, including rape, murder and persecution. Tanzania’s police said they’re investigating reports that a government critic was abducted ahead of elections later this month. And Tanzanian opposition leader Tundu Lissu went on trial for treason.
War jokes: Comedians in the Democratic Republic of Congo are mining their country’s chronic instability for laughs as they use dark humor to entertain people displaced by war. And on the subject of war and peace: The White House criticized the Nobel Committee’s decision to award the Peace Prize to Maria Corina Machado instead of Trump. He said Machado told him she accepted the prize in his honor.

Before I forget…

The U.S. Treasury finalized a $20 billion currency-swap framework with Argentina and bought pesos in the open market. It’s not a bailout, Treasury Secretary Scott Bessent said.
Eighteen people were missing following an explosion at a munitions factory in Tennessee that obliterated the building. Heavy rains killed at least 27 people in Mexico.
Peter Thiel urged Elon Musk to quit the Giving Pledge, under which signatories would leave most of their wealth to charity. The billionaire venture capitalist also warned of the coming of the Antichrist – and more.
Someone desecrated the grave of former French justice minister Robert Badinter, who led the move to abolish the death penalty and use of the guillotine.
EU lawmakers voted to ban the use of the term “veggie-burger” and to limit food descriptions such as steak, escalope and sausage to products containing meat.
There’s a young planet 620 light years away from us that is eating 6 billion tons of surrounding material per second. Ambitious though it might be, it has no chance of becoming a star.