Thursday, February 6, 2025

 
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Nissan, Honda to scrap $60 billion merger talks: report

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Nissan is set to call off merger talks with rival Honda, a source said on Wednesday, abandoning a $60 billion-plus tie-up that would have created the world’s no. 3 automaker and raising questions about how it will drive a turnaround by itself.

Talks have been complicated by growing differences between the two Japanese automakers, two people familiar with the matter, both of whom declined to be named because they were not authorized to speak to the media, said earlier.

Nissan shares slid more than 4% on the Tokyo Stock Exchange, which temporarily suspended trading in the stock after a Nikkei Business Daily report that it would pull out.

Nissan will reportedly call off merger discussions with Honda. AFP via Getty Images

Honda shares continued to trade and finished the day up more than 8%, in a sign of apparent investor relief.

The development will raise fresh questions about how hard-hit Nissan, which is in the middle of a turnaround plan and aims to cut 9,000 employees and 20% of global capacity, can ride out its latest crisis without external help.

Honda, Japan’s second-largest car maker behind Toyota and Nissan, its third-largest, said in December they were in talks to create the world’s third-largest automaker by sales, bulking up in an industry facing a huge threat from China’s BYD and other electric vehicle entrants.

Reuters reported earlier that Nissan could call off talks after Honda had sounded it out about becoming a subsidiary.

Nissan balked because this was a departure from what was originally framed as a merger of equals, one source said.

Nissan and Honda said in separate statements that the Nikkei report was not based on information announced by the companies and that they aimed to finalize a future direction by mid-February and announce it at that time.

The auto giants previously planned to decide the direction of the integration by the end of this month. REUTERS

Honda, whose market value of about $51.90 billion is more than five times bigger than Nissan at 1.44 trillion yen, was increasingly worried about its smaller rival’s progress on the turnaround plan, said a second source.

The tie-up talks have coincided with disruption posed by potential tariffs from US President Donald Trump.

Tariffs against Mexico would be more painful for Nissan than for Honda or Toyota, analysts say.

Nissan shares plunged Wednesday after reports that the merger talks were stalled. AFP via Getty Images

“Investors may get concerned about Nissan’s future [and] turnaround,” said Morningstar analyst Vincent Sun. “Nissan also has a larger risk exposure to US-Mexico tariffs than Honda and Toyota”.

Nissan has been hit harder than some rivals by the shift to EVs, having never fully recovered after years of crisis sparked by the 2018 arrest and removal of former chairman Carlos Ghosn.

“The news saying that Nissan did not want to be a Honda subsidiary appears to highlight that control was a contentious issue,” said Christopher Richter, Japan autos analyst at brokerage CLSA. “Without being able to have control, Honda appears to be walking away.”

Nissan’s long-term alliance partner Renault had said it would be open in principle to the merger.

The automaker owns 36% of Nissan, including 18.7% through a French trust.

Nissan and Honda had initially said they planned to decide the direction of the integration by the end of January, but that was later pushed back to mid-February.

Sources told Reuters last month that Nissan’s smaller alliance partner Mitsubishi Motors, which had considered joining the merger, might not do so.



This story originally appeared on NYPost

Trump’s Stanley Cup proposition, Punxsutawney Phil’s deportation

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Every week, The Post will bring you our picks of the best one-liners and stories from satirical site The Babylon Bee to take the edge off Hump Day.Want more of a chuckle? Be sure to click the links.


President Donald Trump has just become the first fascist in the history of humankind to use his despotic powers to reduce the size of the government. READ MORE


Amid ongoing discussions with Canadian Prime Minister Justin Trudeau, President Donald Trump announced he would lift Canadian tariffs just as soon as they win a Stanley Cup. READ MORE


President Donald Trump announced this morning that he has officially replaced the entire federal workforce with one single teenage Chick-Fil-A employee. READ MORE


Beloved groundhog Punxsutawney Phil has been deported back to Canada after the rodent failed to produce the needed paperwork at this year’s Groundhog Day celebration. READ MORE



This story originally appeared on NYPost

Here’s what £1,000 invested in the FTSE 250 a year ago would have earned

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Image source: Ocado Group plc

The FTSE 250 index of medium-sized companies does not always get the same level of attention as the blue-chip FTSE 100.

But I own some FTSE 250 shares and like the fact that up and coming firms can offer growth prospects that might be harder to find when looking at mature companies.

Poorer performance than the FTSE 100

So, if I had put £1,000 into the FTSE 250 a year ago, what would that investment now be worth?

During the past 12 months, the index has increased in value by 8%.

Therefore, if an investor had put £1,000 in 12 months ago, it should now be worth around £1,080. That is not bad, in my view, but it is also notably below the 13% capital growth achieved over that period by the FTSE 100.

There are dividends too. The yield is currently 3.3%. Again, not bad I feel, although not quite as attractive as the 3.6% currently offered by the FTSE 100.

Why I don’t buy the index

The FTSE 250 is supposed to contain growing companies, so what might explain its recent underperformance versus the blue-chip index?

All companies face risks, but smaller companies may lack the resources and experience to handle them as well as mature firms that have been around for decades (or in some cases, for centuries).

Also when a FTSE 100 business loses enough value it gets booted into the FTSE 250 and vice versa.

So the smaller index loses some companies that have growing share prices, while FTSE 100 businesses that decline sharply enough move down into the FTSE 250. Ocado is an example.

That means that the FTSE 250 almost by design has some disadvantages compared to the bigger index.

But the main reason I do not invest directly (for example, through a fund) is the same for both: I prefer to try and find individual shares I think can potentially do better than the index overall.

Is that possible? Yes, but it is not necessarily as easy as it may sound.

In the wrong lane

As an example,  consider a share I used to own: Hollywood Bowl (LSE: BOWL).

Over the past year, its price has fallen 5%, substantially underperforming the index. Its dividend yield of 4.3% is better, but even considering that, an investor would have done worse putting £1,000 into Hollywood Bowl shares a year ago than the FTSE 250 overall.

Yet the business is profitable and is growing handily, thanks both to its UK business and to rapid expansion in Canada.

Is this a short-term share performance problem, then?

No. Over five years, the Hollywood Bowl share price has lost 1%. Then again, during that period the FTSE 250 overall has gone down 4% so Hollywood Bowl has done a bit better in relative terms (although not by much, frankly).

With large customer demand, an extensive network of bowling  lanes (and some miniature golf sites) and a proven business model, I see a lot to like about Hollywood Bowl.

But one risk is a weak economy hurting consumer spending on leisure activities like bowling. So although I like the investment case, the current price-to-earnings ratio of 16 is a bit high to grab my attention. I will not be investing again just yet.



This story originally appeared on Motley Fool

I asked ChatGPT to build the perfect Stocks and Shares ISA – and here it is!

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Image source: Getty Images

With a fresh £20,000 Stocks and Shares ISA contribution limit at my disposal this April, I turned to ChatGPT to help me build the perfect FTSE 100 portfolio.

I told the artificial intelligence (AI) chatbot I wanted to balance risk and reward with a mix of growth and income stocks across different sectors. While I’d never treat AI as a stock tipper, I was curious to hear its view.

Its first pick is a share I bought last year (but sometimes wish I hadn’t): spirits giant Diageo. ChatGPT plucked this from the consumer good sector, describing it as a global drinks powerhouse that “offers solid dividends and pricing power in an inflationary environment”.

It admits that the economic slowdown has hit revenues but didn’t mention the thing that really worries me – Gen Z isn’t so fixated on alcohol. That worries me.

A balanced spread from the FTSE 100 

ChatGPT’s second pick is also one I own: insurer and asset manager Legal & General Group, from the financial services sector.

Its shares have idled lately but it does offer a brilliant 8.5% trailing dividend yield. ChatGPT highlights “strong long-term demand for financial planning services” while warning that it’s sensitive to market downturns. I love this one.

AI’s third pick is a share I’ve held in the past, and would like to hold again: Rio Tinto, from the mining and commodities sector. ChatGPT calls it a “reliable dividend payer”, neglecting to mention that it cut shareholder payouts in 2023. To be fair, it does have a 7% trailing yield today.

Rio Tinto shares have been hit by the struggling Chinese economy and volatile commodity prices. But worth considering at a low valuation of just eight times earnings.

The fourth pick is another stock I hold: Scottish Mortgage Investment Trust, from the technology and growth sector. This has been flying lately, although it’s taken a knock from Chinese AI upstart DeepSeek and Donald Trump’s trade wars. But I can’t knock its inclusion as a growth stock, albeit a volatile one.

I also asked ChatGPT to pick one stock it particularly likes. It chose one I don’t hold: pharmaceuticals giant AstraZeneca (LSE: AZN).

AstraZeneca is a top stock, but pricey

Now the UK’s biggest company, my robo-adviser called AstraZeneca the “cornerstone” of its ISA portfolio saying: “It combines resilience with innovation, making it an attractive option for both capital appreciation and stability”.

It said AstraZeneca continues to expand its research and development pipeline and with “blockbuster drugs such as Tagrisso and Imfinzi driving revenues, it’s well-positioned for sustained growth”.

Drug development’s an expensive and uncertain process and my chatty chum warns: “Regulatory approvals and clinical trial outcomes may influence its success”. Meanwhile, patent expirations pose a potential threat to revenue streams, requiring a steady flow of new medicines to offset losses, it adds.

I’m concerned that pharmaceutical companies are in the Trump administration’s firing line, while Astra’s shares aren’t cheap, trading at around 36 times earnings. That’s why I’ve resisted buying. 

But I can’t argue with ChatGPT’s logic. And I won’t dispute its conclusion that “this portfolio offers a blend of stability, income, and growth”.

For investors considering how to build a Stocks and Shares ISA, this wouldn’t be a bad start. But they should research the risks as well as the rewards.



This story originally appeared on Motley Fool

Additions of Kareem Hunt, DeAndre Hopkins super for Chiefs

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Andy Reid likes to joke that the Kansas City Chiefs plucked Kareem Hunt “off the couch.” To the Chiefs running back, however, his coach’s description of how Hunt re-joined the team that drafted him is not just funny hyperbole.

“It is the truth,” Hunt said Tuesday.

After he worked out at his former high school and used the sauna at a local YMCA to stay in shape for the NFL, the 29-year-old Hunt signed with the Chiefs following an injury suffered by Isiah Pacheco. Hunt has a team-best 836 yards rushing, including the postseason.

Although the Chiefs’ pursuit of a third consecutive championship has grown tiresome for some fans who are fed up with their dominance, Sunday’s game against the Philadelphia Eagles is a new experience for veterans such as Hunt and wide receiver DeAndre Hopkins, who will play in the Super Bowl for the first time in their decorated careers.

“I stayed patient,” said Hopkins, a three-time All-Pro. “To be in this opportunity, to be here, I think for my career, I think it kind of solidifies me to be where I want to be when I’m done.”

Playing for the Houston Texans, Arizona Cardinals and Tennessee Titans before he was traded to the Chiefs in October, Hopkins hadn’t reached a conference championship game since 2019. In that game, the Texans took a 24-0 lead before the Chiefs rallied for a 51-31 victory. Hopkins caught nine passes for 118 yards.

After leading the league in rushing as a rookie in 2017, Hunt was on the way to making his first Super Bowl appearance. He was dismissed by the Chiefs in November 2018, however, after he was caught on video pushing a woman to the ground and kicking her. Authorities did not proceed with criminal charges, but the NFL suspended Hunt for the first eight games of the 2019 season after the Cleveland Browns signed him.

“I learned how to think before you react,” Hunt said. “Don’t go off emotion.”

Hunt is familiar with getting second chances from Reid. He recalled Tuesday that he fumbled on his first NFL carry and was immediately overcome with the thought his career would be over. He thought he was going to be a bust.

Then Reid gave assurance he would get the ball on the Chief’s next play. Hunt has been trying to repay his coach’s faith since.

“I’m just grateful to be able to come back to where it all started,” Hunt said, “and hopefully finish it out and do the unthinkable and three-peat.”



This story originally appeared on LA Times

Clippers coach Tyronn Lue rips his team after loss to the Lakers

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Tyronn Lue sat with his arms crossed, his voice steady and his message clear about his displeasure with how the Clippers provoked him with their recent performances and how they all have to look in the mirror to fix their problems.

It was more than just the 122-97 beatdown by the Lakers on Tuesday night at the Intuit Dome that had Lue upset. It was the way his group played in the last three games that had the Clippers coach in a rare moment of ripping his players.

“And we’ve been good, so I can’t be, you know, all the way upset,” Lue said. “But the last three games have really pissed me off.”

The Clippers were down by 31 points to the Lakers at one point, just the latest performance Lue took issue with.

He also pointed to the Clippers’ win over Charlotte and their loss at Toronto.

“We’re just not getting off to good starts,” Lue said. “So, we’re not locking in defensively. Like 45 points in the first quarter [for the Lakers], like that’s just way too many. And so we got to take pride in guarding.

“That’s who we’ve been all season long and now the last three games we’ve kind of let our guards down and this is what happens. So, we’ve got to be better. We’ve got to look at ourselves in the mirror and think about do we want to win or not. That’s got to be our mentality. And so three games in a row we come out with not a great defensive performance and it’s just not putting enough into the game. Even on the offensive end, not putting a lot into the game. And so when that happens you get blown out like we did tonight.”

The Lakers shot 54.9% from the field and 48.6% from three-point range. This was against a stellar Clippers defense that was ranked third in the NBA in points given up (107.2) and second in defensive efficiency (106.2) entering the game.

“Focus, um, intensity, effort. Whatever you want to call it,” Lue said. “We’re not bringing it. So, we have to fix that.”

Kawhi Leonard had just 11 points on four-for-11 shooting.

LeBron James of the Lakers battles for a loose ball with Clippers Kris Dunn (foreground) and James Harden.

(Wally Skalij / Los Angeles Times)

He was asked why effort has been a problem for the Clippers in recent games.

“I don’t know,” Leonard said. “It’s hard to say. We all get paid to play this game and leave it all on the floor. So, I’m not sure.”

Leonard still is limited in his minutes. He played just 22:26. But at least he talked to the media after the game.

James Harden left without speaking to the media. He had just seven points, missed 10 of 12 shots and was minus-16 in almost 30 minutes.

The Clippers were coming off a four-game trip over eight days but refused to use that as an excuse.

“We have to, like T-Lue said, look ourselves in the mirror first and be able to come out here and do our job,” Leonard said. “That’s where it starts. Can’t look over the shoulder for help with those things about playing hard.”

With his team down 25 with 6:58 left, Lue had seen enough. He pulled his starters. Two of the players who entered were Patty Mills and Drew Eubanks, acquired Saturday from the Utah Jazz for Mo Bamba, P.J. Tucker, a 2030 second-round draft pick and cash considerations.

Lue spoke highly about Mills and Eubanks.

“Two solid guys that you love to have on your team,” Lue said. “Plays the right way. Plays hard, competes.”

The NBA trade deadline is Thursday, more than enough time for the Clippers to make another move. With that in mind, Lue was asked if the Clippers have enough to make a deep run.

“Yeah, I do feel that way,” Lue said. “Once we’re able to get Kawhi’s minutes to where we need to get them to, and he’s 100%, meaning timing, meaning just condition-wise, we can make a run. We can beat anyone, any time. We also, if we don’t play the right way, we could lose to any team. So, we do have enough in the locker room to win games and go deep in the playoffs. And, so, we’ve just got to have the right mindset, play for each other and anything can happen.”



This story originally appeared on LA Times

Dolce & Gabbana’s Spring 2025 Campaign is a Vintage Dream

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Dolce & Gabbana debuts its spring-summer 2025 campaign. Photo: Steven Meisel / Dolce & Gabbana

Dolce & Gabbana’s spring-summer 2025 channels vintage glamour with a series of black-and-white images captured by photographer Steven Meisel. The visuals feature models Sora Choi, Rosalieke Fuchs, Sacha Quenby, and Bibi Breslin in a backstage setting filled with theatrical charm.

Dolce & Gabbana Spring/Summer 2025 Campaign

Sora Choi, Rosalieke Fuchs, and Sacha Quenby pose in Dolce & Gabbana's spring-summer 2025 campaign.
Sora Choi, Rosalieke Fuchs, and Sacha Quenby pose in Dolce & Gabbana’s spring-summer 2025 campaign. Photo: Steven Meisel / Dolce & Gabbana

Directed by Fabien Baron, the campaign showcases retro designs with modern sensuality. The Dolce & Gabbana Spring/Summer 2025 campaign looks like an old Hollywood film strip, with black-and-white photos arranged in a contact sheet style.

Dolce & Gabbana goes black and white for its spring 2025 campaign.
Dolce & Gabbana goes black and white for its spring 2025 campaign. Photo: Steven Meisel / Dolce & Gabbana

The collection highlights structured lace corsets, shimmering bodysuits, and fringe-adorned dresses that emphasize the female form. Slingback ballet heels, sheer fabrics, and opulent details enhance the vintage aesthetic.

Sora Choi lounges in Dolce & Gabbana's spring-summer 2025 campaign.
Sora Choi lounges in Dolce & Gabbana’s spring-summer 2025 campaign. Photo: Steven Meisel / Dolce & Gabbana

The models’ platinum blonde curls and sultry expressions channel the beauty of mid-century screen sirens. From dramatic lighting to moments behind the scenes, the campaign immerses viewers in a world of fashion nostalgia.



This story originally appeared on FashionGoneRogue

Nets unlikely to trade Cam Johnson before NBA trade deadline

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All quiet on the Nets’ trade front.

Could they actually stay that way?

Cam Johnson has had his name constantly linked in rumors since the Nets shipped out veterans Dennis Schroder and Dorian Finney-Smith.

Cam Johnson arrives at the arena before the Nets’ road win over the Hornets on Jan. 29, 2025. NBAE via Getty Images

But with the trade deadline fast approaching at 3 p.m. on Thursday — and sources telling The Post that Brooklyn is not shopping Johnson — it seems more and more likely that no team offers enough to get the Nets to change their minds.

League sources have consistently told The Post that the Nets — who were obviously highly motivated to deal away Schroder and Finney-Smith, since both were 30-somethings set to hit unrestricted free agency — have not been shopping Johnson.

They’ve only taken calls on him, and apparently none are convincing them to move the sweet-shooting wing.

So does Johnson go to Brooklyn general manager Sean Marks on the incessant reports? Or let his agents handle that while he keeps his focus on the court?

“Yeah, the latter more so,” Johnson told The Post. “If I felt the need to go speak to him about something, or I catch wind of something that I want to bring up to him, then I will.”

So far, there hasn’t been much of a need.

In various reports, Johnson has been linked to Golden State, Indiana, Minnesota, Oklahoma City and the Lakers.


Cam Johnson goes up for a layup as Karl-Anthony Towns defends during the Nets' loss to the Knicks on Jan. 21, 2025.
Cam Johnson goes up for a layup as Karl-Anthony Towns defends during the Nets’ loss to the Knicks on Jan. 21, 2025. NBAE via Getty Images

But he’s still in Brooklyn, and Marks is seemingly more than content to stand pat.

“He has a job to do. I have a job to do. And that’s what I’m focused on right now,” Johnson told The Post. “And right now, my job is to play for this team and to contribute to this team and to try to do all those things.

“And his job is to manage the group. So I’m not [worried]. If there’s something that I need to know, then I trust he’ll tell me, my agent will tell me. And [I’m] going from there.”

Johnson, who missed Tuesday’s game against the Rockets with a sprained ankle, is in the midst of a mid-career breakthrough.



The forward is currently averaging 19.4 points on 49.1/41.9/89.8 shooting splits. His true shooting percentage is up to 65.8 this season.

In 10 December games, Johnson poured in 22 points on 48.9 percent shooting, including a white-hot 44.0 percent from 3-point range. And he’s doing that on a de-escalating team-friendly contract that makes him easy to keep past Thursday.

“[The Nets] are not shopping [their] players, so there isn’t an asking price,” one source told The Post.

Johnson is under team control for the next two years on a deal that counts just 13 percent of the salary cap each of those seasons. The Nets never spoke with Golden State about Johnson, according to sources, and with the Lakers and Kings having made huge moves on the wings, two potential suitors are off the board. Brooklyn could bring more teams into the bidding process in the offseason.

There is a very loud segment of the Brooklyn fandom that wants to see Johnson moved precisely because he is good.

The tanking Nets are 17-33 after their stunning 99-97 win over the Rockets on Tuesday despite Johnson not playing and are sixth in the lottery odds.

Johnson contributes to wins.

Right now, the Nets’ odds of landing the coveted top overall pick — and Duke superfrosh Cooper Flagg — are 9 percent. By far their most likely landing spots as of Tuesday were seventh (at 28.5 percent) and eighth (20.0 percent).

But the analytics don’t support the hysteria. Johnson’s career-best win share mark is 5.6 back in 2021-22, and it’s 3.3 now.

The Nets will reach the two-thirds mark of the season next week, meaning realistically, even if Johnson has similar health and production the rest of the way, he would lift their win total by one or two victories.

In short, if the Nets move him, it won’t be about tanking but getting a big return.

And chances are it’ll have to come to them.



This story originally appeared on NY Post

Senator John Kennedy Has Some Tough Words for Leftists Who Are Freaking Out About USAID (VIDEO) | The Gateway Pundit

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Republican Senator John Kennedy of Louisiana has a way with words and when it comes to the left’s latest freak out over USAID, he does not disappoint.

During an appearance on Hannity, Kennedy said “It’s USAID today, it’s gonna be Department of Education tomorrow.”

Kennedy is right and when that time arrives, we will see an even bigger meltdown from Democrats.

Transcript via Real Clear Politics:

You can’t make an omelet without breaking some eggs. Now, President Trump ran for office saying, I’m going to review every single penny in the federal budget. Now, how are you going to review the spending in the federal budget without reviewing the spending?

And that’s what Mr. Musk is doing. Now, many of my Democratic colleagues and some of the tofu-eating Wookerati at the USAID are screaming like they’re part of a prison riot because they don’t want us reviewing the spending. But that’s all Mr. Musk is doing, and he’s finding some pretty interesting stuff. To my friends who are upset, I would say with respect, you know, call somebody who cares. They better get used to this. It’s USAID today.

It’s going to be Department of Education tomorrow. And really, here’s what’s going on. For four years under President Biden, the people in charge ask one simple question.

Who needs to pay more in taxes? Who needs to pay more in taxes? Well, that’s not the question that the Republicans and President Trump are going to ask.

Our question is, what the hell happened to the money? And that’s all that’s going on.

Watch the video below:

Here’s a longer version:

This is what Trump ran on and he is delivering. Senator Kennedy is spot on here.




This story originally appeared on TheGateWayPundit

Trump’s Gaza solution betrays his ignorance of history – and could make the conflict worse | World News

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For a man ignorant in the history and ways of the Middle East, it makes perfect sense.

The people of Gaza do not have homes to go back to, their land is a living hell and has brought them nothing but suffering.

Surely the world can get together and build them somewhere nice where they can live instead.

Crucial meeting between Trump and Netanyahu: Live updates

Donald Trump should know better than that you might say. He is after all the leader of the free world and has at his disposal as many foreign policy advisers as he cares to listen to.

Trump says Gaza residents should be resettled permanently or they will end up dying

If he had asked them they would have told him there are a few issues with his proposal that the people of Gaza leave and don’t go back.

Firstly they regard Gaza as their home. They are fiercely proud of their heritage and their history of being there. Ask anyone who has ever been to Gaza.

Image:
For Palestinians there may not be much left standing in Gaza, but it is still their home. Pic: AP

Secondly, contrary to the US president’s claim that many countries have offered to help take them in, none have done so publicly.

In fact Israel’s immediate neighbours Egypt, Jordan, Saudi Arabia have all dismissed the idea out of hand.

But thirdly, and more to the point, there is a long and dark history of Palestinians being encouraged one way or another to leave their homes never to return.

Many of those living in Gaza’s ‘refugee camps’ are descendants of the victims of the Nakba, as they call it, or the catastrophe when during Israel’s first war of independence, they had to flee homes on land that is now in Israel.

They believe they should be allowed to return to that land which they say Israelis wrongly took from them. Any acquiescence with another mass displacement would be a betrayal of their forefathers’ rights of return, they believe.

In the early days of the Gaza war, Israeli right wing politicians quietly pushed the idea that maybe the world could take Gazans in, give them a better life etc.

They don’t really want to live there anyway we were told, they’d be much better off in Michigan, or the emptier bits of Europe, or maybe Jordan, and Egypt might be persuaded to take in more in return for the huge amounts of American aid they receive.

Those politicians and diplomats understand their neighbours more than Donald Trump, or should do and should have known better. But the idea never went away.

Donald Trump it seems was listening and is now advocating the idea despite all its obvious shortcomings.

That will embolden far right Jewish extremists in the Netanyahu government who openly advocate the return of Israeli settlers to occupy Gaza.

But it will do nothing to bring a solution to the conflict – quite the opposite.



This story originally appeared on Skynews