UN accuses Israel of tank raid on peacekeepers in Lebanon

Today’s agenda: Labour’s investment pledge; Boeing job cuts; Chinese military drills around Taiwan; Barry Diller interview; and the mysterious history of “London Bridge Is Falling Down”

Good morning. The UN accused Israel of a “flagrant violation” of international law yesterday after Israeli tanks broke into a position stationed by peacekeepers in southern Lebanon, hours before Benjamin Netanyahu told international forces to withdraw from combat areas.

What happened? Unifil, the UN-mandated force deployed along the de facto border between Israel and Lebanon, said Israeli troops “destroyed” the main gate of its position in Ramiya, “forcibly entered the position” and demanded “that the base turn out its lights”. About two hours later, “several rounds” fired near the base let off smoke that caused injuries to 15 peacekeepers, Unifil said, adding that troops had stopped Unifil soldiers completing a logistical movement in a separate area on Saturday.

What was Israel’s explanation? The Israel Defense Forces acknowledged that one of its tanks had backed “several metres” into the Unifil post. But it said the tank was trying, under fire, to evacuate injured soldiers. Benjamin Netanyahu said the “most obvious way” to ensure the safety of peacekeepers was to “withdraw them from the danger zone”, a demand which Lebanon’s Prime Minister Najib Mikati rejected, citing the 2006 UN resolution that mandates Unifil’s presence. Read the full story.

Here’s what else I’m keeping tabs on today:

• Economic data: Opec publishes its October oil market report.

• Companies: Elliott Hill becomes Nike’s new head as the shoemaker tries to lift itself out of a sales slump. British fund manager Ashmore, defence specialist Chemring and recruiter PageGroup have results.

• UK: The Labour government hosts its International Investment Summit. Foreign secretary David Lammy attends the EU Foreign Affairs Council meeting in Luxembourg.

• Nobel Prize: The Sveriges Riksbank Prize in Economic Sciences is announced in Sweden.

Five more top stories

1. Sir Keir Starmer will ask Britain’s competition watchdog today to soften its approach as he vows to “rip out bureaucracy” in order to make the UK a more attractive investment destination. Here’s what to expect from the investment summit, where the prime minister will also unveil more than £50bn in commitments from the private sector.

2. A top economic adviser to Donald Trump has dismissed concerns that he would weaken the dollar or cut trade if re-elected, insisting that the former president uses tariffs as a negotiating tactic. Here’s more from Scott Bessent, who is widely seen as a possible Treasury secretary if Trump wins back the White House.

3. Thousands of staff at Boeing will find out as early as this week if they are among the 17,000 jobs being cut globally. Chief executive Kelly Ortberg had told employees on Friday that “restoring our company requires tough decisions”. Here’s more on the reductions that will take place at the plane maker over the coming months.

4. Exclusive: Pakistan’s powerful security services pressured five local utility companies to prematurely end electricity supply contracts with the government, according to people familiar with the talks. Prime Minister Shehbaz Sharif’s office said the power companies had “prioritised national interest over personal interest” and “voluntarily agreed” to terminate their contracts, but one businessman involved said the talks had been “more an execution than a negotiation”.

5. China has started large military exercises around Taiwan days after a National Day address by Taiwan’s President Lai Ching-te. The People’s Liberation Army said it had sent ground, naval, air and missile forces as a “stern warning to the separatist acts of ‘Taiwan Independence’ forces”. Here’s what the drills mean for the region.

The Big Read

Since 2020, the claim that widespread voter fraud led to Donald Trump’s loss — allegations debunked and dismissed in court — have metastasised into an array of conspiracy theories casting doubt on the US election system. Now, organised, well-funded efforts by rightwing organisations are setting the stage for controversy if this year’s results are as tight as forecast.

We’re also reading and listening to . . . 

• Barry Diller: The 82-year-old IAC chair hits out at Trump and warns of a power shift in Hollywood to Big Tech in an interview with the Financial Times.

• Economics Show 🎧: Soumaya Keynes and Martin Sandbu discuss the evolution of effective altruism and whether it even makes any sense.

• Climate risk: Pandemic-era migration has doubled the number of Americans in areas most vulnerable to extreme weather events, writes Rana Foroohar.

• Olive oil: Mega farms are encroaching on a market long dominated by smallholders, setting up a commercial battle over the €14bn industry’s future.

Chart of the day

Russia’s capacity to transport oil on old underinsured ships has increased by almost 70 per cent year on year despite a recent crackdown on insurers and shipping companies enabling Moscow to circumvent western sanctions, new research has shown.

Take a break from the news

Nicole Douglas-Morris delves into the history of a playground ditty with roots that could go back to the 11th century. Still played and sung in the English-speaking world, “London Bridge Is Falling Down” is a tale of destruction, dilapidation, repair and, according to some scholars, a very grim form of human sacrifice.

Additional contributions from Benjamin Wilhelm