Good morning from the Financial Times.
Today is Wednesday, April 8th.
And this is your FT News Briefing.
Iran and the U.S. Have agreed to ceasefire talks.
And hedge funds don't have a lot of faith in Europe's economy right now.
Plus, botched plans for a German warship highlight the issues with European rearmament.
Constantly hear calls both from politicians on a national and a European level for more
joint procurement and cooperation on arms projects.
But when you look at the actual examples, they really don't offer very much hope.
I'm Mark Filippino, and here's the news you need to start your day.
Late yesterday, US President Donald Trump said he would,
quote, hold off on bombing Iranian civilian infrastructure for two weeks.
The announcement came on social media about 90 minutes before a deadline Trump had set for massive strikes
that were going to target bridges and power plants across Iran.
Earlier in the day, he threatened, quote, a whole civilization will die, end quote, if no deal was reached in time.
Trump said the ceasefire would be subject to the complete, safe, and immediate reopening of the Strait of Hormuz.
Iran has shut down transit in the waterway since the start of the war in late February.
About a fifth of the world's oil supplies passed through the Strait before the conflict.
Shortly after the president's post, Iran said it agreed to the two-week ceasefire and added that,
quote, with complete distrust toward the American side,