Daily Rewind: Trump in Israel
President Trump arrived in Israel today for the second leg of his first overseas trip. Here is what’s at stake:
- Trump’s trip to Israel comes one week after he reportedly shared classified intelligence obtained by Israel during a meeting with the Russian foreign minister. Trump said today that he didn’t mention Israel in the meeting.
- Israel is concerned about America’s $110 billion arms sale to Saudi Arabia that Trump announced while there over the weekend. Defense stocks reached record highs today thanks to the deal.
- Trump is optimistic that a peace accord can be reached between the Israelis and Palestinians and has said he’d be satisfied with either a two-state or one-state solution.
Other important business news:
Ford CEO Mark Fields is out. Fields, who became CEO in 2014, was ousted today after nearly 28 years at Ford. He was replaced by Jim Hackett, who was brought in last year to oversee Ford’s self-driving car effort. Ford posted record profits under Fields in 2015, but that momentum has since slowed. The company announced plans last month to cut costs by $3 billion a year to free up money for new product development. Last week, Ford revealed it’s slashing about 1,400 jobs, or 10% of its salaried staff. Read more from CNNMoney’s Chris Isidore, Jethro Mullen and Poppy Harlow.
Want more important news? Check these stories out:
*Flynn won’t comply with the Senate’s subpoena in the Russia probe (WSJ🔒)
*Bitcoin reaches a record high (MarketWatch)
*Defense stocks are up thanks to Trump’s deal with Saudi Arabia (CNBC)
That’s all for today. We’ll see you again tomorrow!
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