Israeli strike kills Hizbollah’s missiles chief in southern Beirut

In the present day’s agenda: FBI probes China-backed VC fund; VW chief beneath strain; Commerzbank’s new CEO; Uber vs Amazon; and the FT’s new US Election Recreation

We begin with Israel’s newest air strike on Lebanon, which Hizbollah has confirmed killed a prime commander, Ibrahim Qobeissi. Lebanese authorities mentioned six individuals died and 15 had been additionally injured within the assault which struck an condominium constructing in Ghobeiry, a densely populated southern suburb of Beirut the place the militant group has a dominant presence.

Who was Qobeissi? The Israel Protection Forces has named him as the pinnacle of Hizbollah’s missiles and rockets drive, and mentioned he had deliberate and executed “quite a few terror assaults towards Israeli civilians and troopers” since becoming a member of the Iranian-backed motion within the Eighties. It additionally mentioned Qobeissi had “shut ties” to senior Hizbollah army leaders.

Worldwide response: World leaders on the UN Basic Meeting this week, together with US President Joe Biden, have known as for a halt to hostilities and warned the area was on the point of an all-out battle. Lebanon’s international minister yesterday mentioned the US remained “the one nation that may actually make a distinction”. A number of airways have suspended flights to Beirut and Tel Aviv, whereas the US and UK have urged its residents to go away Lebanon. Read the full story.

Greater than 550 individuals have been killed and almost 2,000 wounded since Israel started its intense bombardment of Lebanon, which it has mentioned it plans to proceed. We’ve got extra perception into the IDF’s “Northern Arrows” operation:

• Classes from 2006: The stalemate towards Hizbollah 18 years in the past resulted within the Israeli army growing its “victory doctrine”, centred on a financial institution of hundreds of vetted targets rigorously constructed utilizing deep intelligence.

• ‘Rope-a-dope’ techniques: Benjamin Netanyahu’s dramatic escalation in Lebanon exhibits how Israel’s prime minister has shifted goalposts and evaded Joe Biden’s makes an attempt to constrain him for almost a 12 months.

Right here’s what else I’m maintaining tabs on as we speak:

• Financial information: The OECD releases its interim financial outlook report. France has client confidence information whereas the US publishes residence gross sales figures.

• UN Basic Meeting: Sir Keir Starmer will vow to “recommit” Britain to internationalism because the prime minister seeks conferences with US presidential hopefuls Kamala Harris and Donald Trump. G20 international ministers may also meet in New York.

• Corporations: CEO Mark Zuckerberg is about to talk at Meta’s developer convention on digital actuality. Micron Expertise experiences outcomes.

Thanks for studying FirstFT. What do you consider the brand new format for the highest story of the day? Let me know at firstft@ft.com, or just hit “Reply”. — Tee

5 extra prime tales

1. Unique: The FBI is investigating whether or not a US enterprise capital fund backed by Chinese language cash allowed Beijing to acquire commerce secrets and techniques. California-based Hone Capital, which launched in 2015, invested in 360 start-ups in lower than three years, together with driverless-car maker Cruise and funds group Stripe. Tabby Kinder has more from San Francisco.

2. Oliver Blume is beneath strain to surrender his twin function as CEO of Porsche and guardian firm Volkswagen as Europe’s largest carmaker confronts its largest disaster in many years. Strain from traders has elevated as Blume faces a battle with VW’s works council over plans to chop hundreds of jobs and shut German factories. Here’s what shareholders are saying.

• Automotive sector: The “Inexperienced Deal” EU ban on the sale of recent combustion engine automobiles after 2035 has created a “grave crisis” for European carmakers, Italy’s trade minister mentioned.

3. Commerzbank’s new chief govt is predicted to struggle a attainable takeover by Italy’s UniCredit after her appointment was introduced yesterday. Bettina Orlopp, at present chief monetary officer, will succeed CEO Manfred Knof “within the close to future”, the German financial institution mentioned. Here’s why she is unlikely to support a tie-up.

4. Unique: The “Can of Ham” skyscraper within the Metropolis of London has been put up on the market for £322mn by its proprietor Nuveen, the asset administration arm of US retirement supplier TIAA. The constructing at 70 St Mary Axe, named due to its distinctive rounded form, is a brand new check for the highest finish of the UK capital’s workplace market after a long slump in flagship sales.

5. Caroline Ellison has been sentenced to 2 years in jail for her function within the FTX fraud. A New York choose mentioned Ellison, who ran FTX-linked Alameda Analysis, had been “exploited” by the crypto alternate’s founder Sam Bankman-Fried however added that her early co-operation with prosecutors could not be a “get out of jail free card”.

The Large Learn

Within the years since its founding in 2009, Uber instigated a transport revolution, unfold its disruptive enterprise mannequin to a spread of sectors and have become one of many world’s most beneficial non-public tech corporations. Seven months in the past, it reported its first working revenue. On prime of ride-sharing and takeaways, Uber’s couriers now ship items for retailers, placing it in ever extra direct competitors with Amazon. Is it trying to do too much?

We’re additionally studying . . . 

• 🕹️ The Election Recreation: Are you able to mastermind a US presidential marketing campaign? Compete towards different readers in our latest game.

• Nuclear energy: A latest pledge by massive banks to again nuclear energy will solely bear out after we know the “nitty gritty” of economic dangers, writes Nathalie Thomas.

• UK vitality: Britain has been nice at constructing renewables however not the batteries wanted to retailer and use inexperienced electrical energy successfully, writes Pilita Clark.

Chart of the day

Mario Draghi’s report on European competitiveness gives options that can require extra interventionist commerce and industrial insurance policies. Whereas intervention is each authorized and inevitable, intervening effectively is another matter, writes Martin Wolf.

Take a break from the information

This 12 months’s BFI London Movie Competition begins on October 9 and is promoting out quick. From a John and Yoko documentary to a cartel musical thriller starring Zoe Saldaña, listed here are the tickets that had been still available at press time.

Further contributions from Gordon Smith and Benjamin Wilhelm