March 10, 2026 - Daily News Digest

On this day: in 1876, The first successful test of a telephone is made by Alexander Graham Bell. 

QOTD: "I will not allow a terrorist regime to hold the world hostage and attempt to stop the globe's oil supply," [TRUMP] said Monday. "And if Iran does anything to do that, they'll get hit at a much, much harder level."

CHINA/TECH/MANUFACTURING/ECON - AI and Robots Are Increasingly Fueling China’s Export Boom
https://www.bloomberg.com/news/newsletters/2026-03-10/china-s-export-boom-and-robots

n downtown Guangzhou, long a bustling hub of Chinese trade, dozens of middle-aged day laborers wait for agents from nearby factories to offer work. Some people are unable to earn a paycheck for months.

China’s exports surged in the first two months of 2026, but ordinary workers in Guangdong province have seen a sharp decline in their living standards. Jobs are disappearing and salaries are falling, according to Bloomberg News reporting.

The boom in automation and artificial intelligence in China’s manufacturing sector is expected to lead to even tighter household strains, with Citigroup economists forecasting that almost a third of jobs in China could be impacted by AI.

Official data on Tuesday showed Chinese exports surged almost 22% from a year earlier in the first two months of 2026. Setting aside an 11% drop in the value of goods to the US, shipments were strong most everywhere else, including places worried about a China shock like the European Union and the UK.

Imports jumped nearly 20%, according to a statement released by the General Administration of Customs, leaving a surplus of $214 billion — an all-time high for the period. 

Some workers in Guangdong blamed the wreckage on US tariffs that peaked at 145% last year, along with President Donald Trump’s elimination of duty-free perks on small parcels. Others cited domestic price wars as driving wage decline. Few expected things to improve anytime soon.

Perhaps more notable for global trade in China and elsewhere, the trend appears set to intensify in the short term as the explosion of AI and robotics spawn so-called dark factories that require no human worker

AI-generated content may be incorrect.">

IRAN/US/MIL - Iran bets on endurance, energy disruption to outlast US, Israel
https://www.reuters.com/world/middle-east/iran-bets-endurance-energy-disruption-outlast-us-israel-2026-03-10/

Iran is wagering it can outlast the United States and Israel--not militarily, but by grinding the war into a brutal contest of endurance. Its strategy is stark: Unleash drones and missiles, cut vital energy routes and jolt global markets hard enough ​to force Washington to blink first.

Despite the shock of the U.S.–Israeli strikes and the loss of key figures, the Islamic Revolutionary Guards Corps (IRGC)--long the ultimate guardian of the Islamic Republic -- is firmly ‌in control, directing the battlefield, executing pre-planned contingencies and dictating strategy and targets in the war.

The IRGC also played the decisive role in elevating Mojtaba Khamenei as supreme leader after Ayatollah Ali Khamenei was killed in the opening U.S.–Israeli strikes.

“For them, they are waging an existential fight. This is an all-out war,” said Fawaz Gerges of the London School of Economics. “They believe their very survival is at stake. They're willing to bring the temple down on everyone’s heads.”Alex Vatanka, a senior fellow at the Middle East Institute and expert on Iranian politics, added: “They're ​like a bleeding animal-- wounded, but therefore more dangerous than ever."

That all-out war mindset is behind Iran’s escalating strikes across the Gulf, targeting energy hubs from Qatar to Saudi Arabia to maximise economic disruption in ​a calculated attempt to drive up costs for its neighbours, Europe and the United States and test Washington’s political will.

US/RUSSIA/ENERGY/SANCTIONS - Trump, Putin talk of war and peace as US weighs easing Russian oil sanctions
https://www.reuters.com/world/kremlin-putin-phone-call-with-trump-shares-proposals-end-iran-war-quickly-2026-03-09/

U.S. President Donald Trump and Russian counterpart Vladimir Putin discussed the war in Iran and ‌prospects for peace in Ukraine on Monday, hours after the Kremlin chief warned that a global energy crisis threatened the world economy.

The conflict caused the biggest spike in oil prices since Russia's 2022 invasion of Ukraine although the bulk of a surge in crude oil prices on Monday was reversed on Tuesday and ​Asian and European share prices staged a recovery.

The Kremlin said Trump had called Putin and, in their first telephone call this ​year, they discussed Russian ideas for a speedy end to the conflict in Iran, the military situation ⁠in Ukraine and the impact of events in Venezuela on the global oil market.

"I had a very good call with President Putin," Trump ​told a press conference at his Florida golf club, adding that Putin wanted to be helpful on Iran.

"I said, 'You could be more ​helpful by getting the Ukraine-Russia war over with. That will be more helpful.'"

Putin had said earlier that the U.S.-Israeli war on Iran had triggered a global energy crisis, while cautioning that oil production dependent on transport through the Strait of Hormuz near Iran's coast could soon come to a halt.

RUSSIA/TECH - Kremlin says Moscow mobile internet outages are done for sake of security
https://www.reuters.com/world/kremlin-says-moscow-mobile-internet-outages-are-done-sake-security-2026-03-10/

The Kremlin on Tuesday said that recent instances of ​mobile internet being turned off in ‌Moscow and other major cities were aimed at ensuring security and were in accordance ​with the law.

In a call with ​reporters, Kremlin spokesman Dmitry Peskov said: "All ⁠disconnections and communication restrictions are carried ​out in strict compliance with current legislation."

Peskov said that the impact ​of the move on businesses needed ​additional analysis, and that solutions to their problems would ‌be ⁠proposed.

On a call with reporters on Monday after Russian President Vladimir Putin spoke to U.S. President Donald Trump, Kremlin ​foreign policy ​aide Yury ⁠Ushakov's connection cut out at least three times, Reuters reporters ​on the call said.

In recent ​weeks, ⁠the Kremlin has moved to block messenger apps Telegram and WhatsApp, promoting the ⁠state-backed ​service MAX, which critics ​say is not secure.

MALI/SEC - Al Qaeda-linked group killed at least 12 truck drivers in Mali, HRW says
https://www.reuters.com/world/africa/al-qaeda-linked-group-killed-least-12-truck-drivers-mali-hrw-says-2026-03-10/

Islamist militants from an al Qaeda-linked group killed 10 long-haul truck drivers and two ​teenage apprentices who were travelling through Mali's western ‌Kayes region in late January, Human Rights Watch (HRW) said on Tuesday.

Jama'at Nusrat al-Islam wal-Muslimin (JNIM) attacked a military-escorted fuel convoy ​of at least 40 trucks, the HRW ​report said.

JNIM, which mainly operates in Mali ⁠and Burkina Faso, has emerged as the region's ​strongest militant group. It aims to impose Islamic rule ​across the Sahel and extend its influence to coastal West Africa.

Malian military authorities have turned to armed escorts to ease ​a fuel supply blockade on the landlocked country imposed ​by the insurgents.

Witnesses told HRW the convoy, which was supposed ‌to ⁠supply fuel to the Kayes region, had left Senegal's capital Dakar on January 27 and crossed Mali's border the next day.

JNIM fighters captured several drivers ​who abandoned their ​trucks when ⁠the attackers opened fire, later executing 12 while releasing others, the HRW said.

Six ​drivers have been missing since the ​attack, ⁠the report said.

Mali's truck drivers union told Reuters last month that 15 drivers were captured and executed on ⁠the ​spot during the attack.

Mali's authorities ​did not immediately respond to a Reuters request for comment.

EU/SPACE/REGULATIONS REAR THEIR HEAD AGAIN - European Space Merger Faces Pushback From Local Competitors
https://www.wsj.com/business/european-space-merger-faces-pushback-from-local-competitors-b9e5ac13?mod=world_feat5_europe_pos1

A potential three-way merger between the space units of Airbus, Leonardo and Thales is facing pushback from some rivals that fear the deal could curtail competition in the European satellite market.

Marco Fuchs, chief executive of German satellite maker OHB, said he is concerned about the deal’s potential impact on European consortia formed to bid for European Union and European Space Agency contracts.

Indra Space, a subsidiary of Spain’s Indra Sistemas IDR 1.67%increase; green up pointing triangle, also opposes the merger, two people familiar with the matter said.

In response, Thales and Leonardo said the project targets the global market, which is dominated by vertically integrated and state-backed giants, and that joining forces will create a European player able to compete with them in 2030. Airbus declined to comment on the concerns.

The pushback points to potential hurdles ahead in the regulatory process that awaits Airbus, Leonardo and Thales to get their space merger over the line. European Union regulators have in the past blocked big deals aimed at creating European industrial champions on antitrust grounds, like the proposed rail merger between Siemens and Alstom or the tie-up between the steelmaking units of Tata Steel and Thyssenkrupp.

Airbus, Leonardo and Thales said last October that they had reached a preliminary deal to merge their satellite and space systems manufacturing activities into a 6.5 billion-euro ($7.56 billion) business, aimed at creating a European champion capable of competing with Elon Musk’s SpaceX.

The project, currently dubbed Bromo, requires antitrust approval of the European Commission, the EU’s executive arm, with a decision expected in 2027 at the earliest. The project’s partners are expected to submit the merger for commission approval in the coming weeks, a person familiar with the matter said.

Some European space companies excluded from the project argue that it will reduce competition in Europe, at a time when satellite demand is increasing in the continent, in response to the war in Ukraine and a push for strategic autonomy amid concerns about the U.S.’s commitment to the continent’s security.

FRANCE/MIL/IRAN - France to deploy almost dozen warships, mulls Hormuz mission, Macron says
https://www.reuters.com/world/europe/france-will-send-two-warships-red-sea-macron-says-2026-03-09/

France is deploying about a dozen naval vessels, including its aircraft ‌carrier strike group, to the Mediterranean, Red Sea and potentially the Strait of Hormuz as part of defensive support to allies threatened by the conflict in the Middle East.

Speaking in Cyprus before visiting the Charles de Gaulle aircraft carrier, which arrived this weekend in ​the eastern Mediterranean, President Emmanuel Macron sought to reassure his Cypriot counterpart after drones were intercepted heading ​towards the island last week.

"When Cyprus is attacked, then Europe is attacked," Macron said ⁠after meeting with President Nikos Christodoulides and Greek Prime Minister Kyriakos Mitsotakis in Paphos.

European states have been largely sidelined ​as the conflict between the United States, Israel and Iran has escalated, hitting Gulf Arab states and dragging Lebanon ​into the line of fire after Iran-backed militant group Hezbollah attacked Israel.

But with shipping lanes in the Middle East impacted and the price of oil heading well above $100 a barrel, European powers are grappling with the issue of how to defend their interests.

NATO/TURKEY/MIL - NATO Boosts Defenses Around Key US Radar in Turkey Amid Iran War
https://www.bloomberg.com/news/articles/2026-03-10/turkey-says-it-will-host-patriot-system-following-iran-missiles?srnd=phx-politics

The North Atlantic Treaty Organization is increasing air defenses in southeast Turkey, where the US operates a key radar supporting the alliance’s ballistic missile shield.

The decision to deploy the Patriot systems in Malatya province came in the wake of two Iranian missile attacks targeting Turkey.

Since the start of the US-Israeli war on Iran, Tehran has targeted American radar systems elsewhere in the Middle East, including a strike in Jordan that destroyed an RTX Corp. AN/TPY-2 radar and support equipment. The $300 million radar system was seen as crucial to directing US missile defense batteries in the Persian Gulf to counter attacks from Iran.

The same type of advanced radar is deployed at Kurecik, about 435 miles (700 kilometers) from Iran, according to a US State Department document from 2011, the year when Turkey agreed to host the equipment.

Iranian officials warned more than a decade ago that Tehran could target NATO’s missile-defense installations in Turkey should it come under attack from the US or Israel, arguing that Kurecik was designed to help protect Israel.

FINLAND/SWEDEN/POWER - Disruption hits power link between Finland and Sweden
https://www.dw.com/en/finland-sweden-power-cable-disruption-feno-skan-2/a-76285173

Finland's national grid operator reported an unexpected outage on a power cable between Finland and Sweden early on Tuesday morning.

The disruption affected Fenno-Skan 2, an 800 megawatt (MW) high-voltage submarine cable linking the two Nordic countries.

A spokesperson for Fingrid said that the outage appeared to have been caused by a malfunction at a substation, and that the undersea cable appeared to be unharmed.

Fingrid later said that the affected equipment had been inspected and that the connection had been restored, with commercial operation to resume around midday.

MORE - No sign of sabotage in Finland-Sweden power outage, operator says
https://www.reuters.com/business/energy/disturbance-hits-power-link-between-finland-sweden-2026-03-10/

An undersea power cable linking Finland and Sweden suffered ​an unexpected outage on Tuesday due to ‌a technical fault, but there were no indications of sabotage, operators Fingrid and Svenska kraftnat said on Tuesday.

The ​Baltic Sea region has been on high alert ​after a string of underwater power cable, ⁠telecom link and gas pipeline outages since Russia ​invaded Ukraine in 2022, with sabotage and shipping accidents ​blamed for the incidents.

US/IRAN/MIL - Trump gives mixed messages about when the war with Iran will end
https://www.npr.org/2026/03/10/nx-s1-5742828/iran-war-us-trump

The U.S. military said it has struck more than 5,000 targets in Iran so far and damaged or destroyed more than 50 Iranian vessels as President Trump touted progress in the 11-day-old war, while also sending mixed signals on whether the fighting is nearing an end.

In a phone call with CBS News Monday, Trump said "the war is very complete."

But at a later event with Republican lawmakers in Miami, he struck a more open-ended tone, saying the U.S. still needed to achieve "ultimate victory." He said he was focused on keeping oil flowing in response to the wild swings in oil prices that have raised concerns around the world […].

In a late night post on social media, Trump echoed that warning, telling Iran it would be hit "TWENTY TIMES HARDER" if it tried to disrupt global energy supplies.

Meanwhile, Iran launched drones and rockets across the Gulf countries on Tuesday, while Israel's military said it conducted strikes against the financial infrastructure of the Iran-backed organization Hezbollah in Lebanon.

More than 1,200 people have been killed in Iran, nearly 500 in Lebanon and 11 people in Israel, according to figures from Iranian and Lebanese health officials and Israeli authorities. Seven U.S. soldiers have died in the war so far, the Pentagon says.

US/IRAN - Hegseth Declines to Comment on Status of Iran’s Supreme Leader
https://www.wsj.com/livecoverage/iran-war-us-israel-trump-2026/card/hegseth-declines-to-comment-on-status-of-iran-s-supreme-leader-aLClSwJzVSAej8U86fNq

Defense Secretary Pete Hegseth declined to say whether Iran’s new supreme leader, Mojtaba Khamenei, had been injured, following a media report that he had been wounded.

“He would be wise to heed the words of our president, which is not to pursue nuclear weapons and come out and state as such,” Hegseth said in response to a question about whether the new leader had been injured. “As far as his status, that’s not something I can comment on right now.”

Iran announced Khamenei as the new supreme leader on Sunday, just over a week after his father, the previous ruler Ayatollah Ali Khamenei, was killed in an Israeli airstrike.

IRAN/SHIPPING - Iran Offers Hormuz Passage in Exchange for Diplomat Expulsions
https://www.wsj.com/livecoverage/iran-war-us-israel-trump-2026/card/iran-offers-hormuz-passage-in-exchange-for-diplomat-expulsions-tgzCHmnhLtjXQx9iHkuH

Iran’s Islamic Revolutionary Guard Corps said any Arab or European country that expels the ambassadors of Israel and the U.S. would be free to pass through the Strait of Hormuz as of Wednesday, according to Iranian state media.

The statement preceded a threat by President Trump to intensify attacks if Iran does anything that stops the flow of oil through the strait. Iran’s foreign minister meanwhile said that Iran wasn’t at fault for the halt of shipping traffic.

US/IRAN/MIL/SHIPPING - HORMUZ TRACKER: Strait Shut to Almost All Non-Iran-Linked Ships
https://www.bloomberg.com/news/articles/2026-03-10/hormuz-tracker-strait-shut-to-almost-all-non-iran-linked-ships

The Strait of Hormuz remains effectively closed to almost all but Iran-linked traffic with the conflict in the Middle East now in its second week.

Oil markets reacted to Trump’s comment that the Iran war would resolve “very soon” with a big sell-off that saw benchmark prices tumble over 10%, before paring some losses on Tuesday morning. However, shippers — with people and vessels at risk — have taken a much more cautious approach.

In the last 24 hours, inbound traffic to the Persian Gulf was at a standstill. Observed outbound movements were limited to two bulk carriers and a small number of Iran-linked vessels, including one supertanker, a container ship and a bulk carrier, according to vessel-tracking data compiled by Bloomberg.

[more details and graphs at link – mnno]