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    Archaeologists Unearth Oldest Jewish Ritual Bath Found in Europe

    Discovered outside Rome, the bath, which is thought to be a mikvah, could be more than 1,600 years old. When Luigi Maria Caliò, a classical archaeology professor, first brought students from the University of Catania to excavate an area of Ostia Antica, the ancient commercial port of call outside Rome, he wasn’t sure what he might find.The dig site had not been explored in modern times, despite its central location next to a square that was once the city’s headquarters for shippers and traders and is today renowned for its mosaics.“We thought we’d find some warehouses or a fluvial port,” he said. Instead, the archaeologists — budding and not — last summer uncovered what may be the oldest existing example in the ancient Roman world of a mikvah, a Jewish ritual bath. They have tentatively dated the structure to the late fourth or early fifth century.“Such an antique mikvah has never been found” outside Israel, “so it’s a very relevant find,” said Riccardo Di Segni, Rome’s chief rabbi. He added that the discovery contributed to further illuminating the rich history of Jews in Rome and Ostia Antica.Jews first came to Rome in the second century B.C., and inhabited the city and its environs, including Ostia, a half-hour train ride outside the capital city.Rome and Ostia to this day are pockmarked with remnants of Jewish heritage: a menorah on the bas-relief of the first-century Arch of Titus; Jewish catacombs; sundry Roman-era inscriptions, and a synagogue at Ostia Antica.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Taoiseach must tread carefully amid tensions before Trump meeting

    St Patrick’s Day has long been one of the sacred moments of the Irish-American calendar with more than 200 years of parades in New York and a shamrock reception at the White House launched by Dwight Eisenhower in 1953 to cement political ties between the two nations.But this year’s annual meeting between the taoiseach and the US president, a week early because of a congressional recess on 17 March, is laden with anxiety over the future of Ireland’s economy, which is heavily reliant on US multinationals Donald Trump wants to repatriate.While nobody expects Micheál Martin to be subjected to the same humiliating attack as Ukraine’s Volodymyr Zelenskyy, the US president’s unpredictability and thin skin means Ireland’s taoiseach should be prepared for anything on Wednesday.Adding to the tensions was the recent public contradiction by the Irish foreign minister, Simon Harris of an account of a phone call he had with the US secretary of state, Marco Rubio, whose representatives had said Ireland’s “trade imbalance” had been raised as a priority during the conversation.Harris told reporters: “The trade imbalance wasn’t specifically referenced. I was on the call. I was on it for over 20 minutes. It was a very good conversation.” Some saw it as an untimely poking of the beast.Martin is going to DC with three missions: protecting the Irish economy from Trump’s tariffs, raising the plight of the Palestinians, who have strong public support in Ireland, and pressing home the EU’s request that the US sticks with Europe for another few years to give it the time to build up an independent defence capacity.The Irish prime minister is afforded a full day of events in an unusually long agenda – adding to the risk of being tripped up.Martin will start with a traditional breakfast meeting with the vice-president, JD Vance, before a “stakeout” or questions from the media stationed outside the White House.At about 10am, he will move to the Oval Office to sit down in front of the cameras with Trump before the pair disappear from public view behind closed doors for the bilateral meeting.The delegation will then participate in the House speaker’s lunch, an event usually also attended by the president with other meetings before they all convene again for the Shamrock Bowl reception in the East Room, again hosted by Trump, at about 5pm.“The real risk moment is the media spray,” said one source close to the Irish government, referring to the on-camera press event in the Oval Office before Martin’s private meeting with Trump. In the past this has just been a 15-20 minute session with cameras but Trump has got into the habit of turning it into an unscheduled press conference.As Zelenskyy found recently, this can result in hostile questions or tension between the guest and his host – in Martin’s case, potentially on Palestine or trade.The US commerce secretary, Howard Lutnick, has already complained that it was a nonsense that Ireland “of all places” is running a trade surplus with the world’s biggest economy.Last year Ireland exported €72bn to the US – a 34% increase on 2023 – compared with imports valued at €22bn.The US may also raise EU regulation of the big tech firms such as X, Google, Facebook, Instagram, all of which have their EU headquarters in Dublin.Writing in the Irish Times, historian Eoin Drea was withering about Ireland’s reliance on the US.“No other country in the EU is as hopelessly and naively dependent on the US as Ireland,” he said, warning that at “a stroke of pen” Trump could precipitate a budgetary crisis in Dublin.“Ireland is woefully unprepared for Washington’s new political mantra”, he added.One senior business source concurred: “There is obviously intense diplomacy going on. Brexit shows that we know as a country how to read a risk but this time we have been caught offside.”The source added that the fallout from last year’s European court ruling forcing Apple to pay up €13bn in back taxes was a case in point.“We were embarrassed by it. We didn’t want the money. For years nobody really cared about Americans in Ireland, but now the whole world is paying attention. It means that our trade has now got bound up with politics,” said the business source.They were also scathing about a new taskforce set up by Harris to head off ill winds with the inaugural meeting with business representatives two weeks ago.“It was headless chickens. After about an hour and three-quarters of talking what were we left with? Minutes and a diary line for the next meeting, which is not until May. It was fairly perfunctory.”Former Irish ambassador to the US Daniel Mulhall said he hoped Martin would emerge unscathed from the day-long Trump experience.“You have to remember Trump likes to like people and he likes to be liked. He’s even managed to convince himself that Putin likes him so it’s not a big stretch to conclude that maybe he likes Micheál too,” he said.“But my view is that there is a long established St Patrick’s Day [tradition of] visits by the taoiseach and they carry a certain kind of tone and content. This gives me hope.”Mulhall suggested an invitation to host a special EU-US summit at Trump’s Irish golf resort in Doonbeg in County Clare combining flattery and business.This however is not in Ireland’s gift – such an invitation would have to come from European Council president, António Costa. More

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    The Guardian view on Ursula von der Leyen’s first 100 days: the steepest of learning curves | Editorial

    In a press conference on Sunday to mark 100 days since the beginning of her second term as European Commission president, Ursula von der Leyen erred on the side of understatement when asked whether she still considered the US to be an ally. The answer was yes, she replied, before adding that “we have our discussion points without question”.Hard to argue with that. Regarding the war in Ukraine, international trade and existential questions concerning the future of European defence and security, the geopolitical landscape bears no resemblance to the one that Ms von der Leyen looked out upon on 1 December. As Mr Trump and his “America first” outriders have confounded cherished assumptions about the transatlantic alliance, they have also sought to encourage authoritarian nationalism in EU member states.In France and Germany, the fabled engine of European integration, this has been uncomfortably akin to knocking at an open door. In Paris, days after Ms von der Leyen reassumed office, Michel Barnier’s shortlived government collapsed when Marine Le Pen pulled the rug from under it. In Germany, well before Elon Musk and JD Vance championed its cause, the far-right Alternative für Deutschland party had reached historically high levels of support that would see it finish comfortably second in February’s snap German election.As Ms von der Leyen put it on Sunday: “Our European values, democracy, freedom, the rule of law are under threat.” The response, from Brussels and in national capitals, needs to be both robust and more expeditious than is often the case in the labyrinthine world of EU policymaking. Happily, the initial signs are positive.The move last week by EU leaders to disapply the bloc’s fiscal rules to military spending, potentially freeing up £670bn, is a significant step towards achieving greater strategic autonomy from Washington. It followed the unveiling of extraordinarily radical proposals in the same week by Germany’s chancellor-in-waiting, Friedrich Merz. Bypassing a constitutional restriction on state borrowing, these are designed to facilitate not only far greater spending on defence, but also on the modernisation of a stagnating economy.After decades in which EU economic policy has been skewed by Berlin’s traditional debt aversion – shared with other “frugal” member states such as the Netherlands and Denmark – this is a very different direction of travel. As Europe exits an era defined by an uncritical commitment to free trade and dependency on the US security umbrella, it is also the right one. Recognising the desire of many member states to formalise common borrowing arrangements introduced following Covid, Ms von der Leyen said “nothing is off the table” in relation to defence. But, as the Draghi report argued last autumn, the same kind of fiscal firepower is required to meet the challenge of the green transition and compete with the US and China for the jobs and future industries of the 21st century.Last month in Brussels, a different kind of centenary was marked when a bust of a former commission president, Jacques Delors, was unveiled. Born in 1925, Mr Delors became the preeminent champion of a “social” vision, in which common EU institutions would deploy pooled resources in order to build a Europe where solidarity and growth were intertwined. That perspective faded from view following the neoliberal turn in the 1980s. As Ms von der Leyen navigates the rest of her five-year term, its time has come again.

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    Romania Bars Ultranationalist Candidate From Presidential Race

    The country’s electoral commission ruled on Sunday that Calin Georgescu, an outspoken critic of Ukraine and NATO, could not compete in the do-over election.Calin Georgescu, an ultranationalist candidate who won the first round of Romania’s abruptly aborted presidential election last year, has been barred from competing in a do-over vote scheduled for May, sparking a small but violent protest by his supporters in Bucharest, the Romanian capital.The Central Electoral Bureau issued a statement late Sunday saying that it had ruled against registering the candidacy of Mr. Georgescu, an outspoken critic of Ukraine and NATO who has voiced sympathy for Russia and Romania’s fascist leadership during World War II. The bureau also said it had rejected three other would-be candidates.It gave no explanation for the decision, which came less than two weeks after Romanian prosecutors opened a criminal case against Mr. Georgescu for “incitement to actions against the constitutional order,” the “communication of false information” and involvement in the establishment of an organization “with a fascist, racist or xenophobic character.”Several hundred angry protesters gathered Sunday evening outside the election bureau in Bucharest, screaming “thieves” and “traitors,” and hurling stones and firecrackers at police officers, who responded with volleys of tear gas.The protest was far smaller than previous street demonstrations by Mr. Georgescu’s supporters but it raised political tensions and fears of violence ahead of the country’s second attempt at a presidential election. The crowd later dispersed.The Romanian president has limited powers but has often played an important role in the foreign policy of the NATO-member country, which borders Ukraine and has a large air base near the Black Sea that is used by the U.S. military.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    ‘They brought it on themselves’: a new low in US-Ukraine relations

    There was an audible gasp in the room at the Council on Foreign Relations as Keith Kellogg, the White House’s special envoy for Ukraine and Russia, characterised the US decision to cut off intelligence sharing and military aid to Kyiv as like beating a farm animal with a piece of wood.“Very candidly, they brought it on themselves, the Ukrainians,” Kellogg said as the veteran diplomats, academics, and journalists in the room recoiled in surprise. Several held their hands in their faces. “I think the best way I can describe it is sort of like hitting a mule with a two-by-four across the nose,” he continued. “You got their attention, and it’s very significant, obviously, because of the support that we give.”The collapse in US-Ukraine relations since the White House summit between Trump and Zelenskyy has been precipitous. Those around Trump viewed as the strongest supporters of Ukraine – including secretary of state Marco Rubio, national security adviser Mike Waltz, and Kellogg – have become vocal sceptics of continued US support or been sidelined entirely.“We know that [the Maga wing] are just waiting for something they can use to pounce,” said a former senior US diplomat. “And I think that’s where you get the posturing by Rubio, Kellogg and also Waltz, which disturbs people who understand America’s interest in preventing a Putin win in Ukraine.”It has been matched by a rise in the people around Trump who hold vocally Eurosceptic views: Elon Musk, Tucker Carlson, and JD Vance, the vice-president who seized his moment in the Oval Office and provoked a greater conflict between Trump and Zelenskyy.Vance has made several key interventions meant to sow divisions with Europe. He appears to have planned ahead of time. His team briefed European media before he spoke up during Trump’s meeting with Keir Starmer to complain about “infringements on free speech” in the UK. And when Zelenskyy disregarded advice from Kellogg, Republican senators, and others, not to clash with Trump during the White House meeting, Vance once again poured petrol on the fire.“First Zelenskyy needs to keep silent in public about concerns with Trump’s policy moves, even though those concerns are justified,” the former senior official said. “It would be good for him to send a team to the meeting in Riyadh which is not at his level. I think he needs to sign the mineral agreement in any form that the Trump administration wants.”Fiona Hill, a former White House official during Trump’s first term, said the speculation on the part of many European officials was that “this was set up by Vance … that he wanted to sideline the Rubios, the Waltzes, the Kelloggs.”These were supposed to be the adults in the room for this administration. Rubio was confirmed 99-0 by senators who believed he would help keep Trump’s foreign policy on track. Waltz was expected to be a centrist ally as national security adviser. And Kellogg, while sceptical of piecemeal support for Kyiv, was seen as a firm supporter of Ukraine.View image in fullscreenInstead, they have followed Trump into putting pressure on Ukraine. Rubio last week said: “Frankly, it’s a proxy war between nuclear powers – the United States, helping Ukraine, and Russia – and it needs to come to an end.”That was a vision closely aligned with the Kremlin’s. Dmitry Peskov reacted positively to Rubio’s words, saying: “We can and want to agree with it, and we agree with it. That’s the way it is. We have said this repeatedly. We have said that this is actually a conflict between Russia and the collective west. And the main country of the collective west is the United States of America.”That’s not the only way in which the US is adopting Russia’s views on the war. In his speech, Kellogg broke ground in describing how Trump sees the conflict: the US wants to position itself as a neutral arbiter between Russia and Ukraine, and Trump recognises that the US needs to “reset relations with Russia” to secure US national security. “The continued isolation and lack of engagement with the Russians as the war in Ukraine continues is no longer a viable strategy,” he said.That portrayal is a radical realignment of US policy interests in the conflict. For three years, Washington has provided considerable financial and military support to Kyiv to allow it to stay in the fight. But under a new Trump administration, those who supported the previous policy have quickly pivoted to back Trump as he seeks to end the war by putting pressure on Ukraine.“Kellogg has some people around him who do know what they’re doing,” said Hill, who worked with him during the first Trump term. “He’s 80 years old. He fought in Vietnam. He knows his stuff. He’s no fan of Russia. He’s a total cold warrior. He’s trying to thread the needle there but he also works for the commander in chief, so he’s trying to interpret, in the best way that he can, what’s going on here? And he will not stray away from what Trump does or says, that’s why he is still there.”Yet Kellogg was left off the list for a key summit between Ukrainian and US officials this week in Saudi Arabia in an attempt to repair the relationship. Waltz, Rubio, and Trump’s Middle East envoy Steve Witkoff are set to travel for talks with Zelenskyy’s chief of staff Andriy Yermak and his team. The path forward is unclear – although both pro-Ukraine Americans and European officials believe that there is no alternative to US support in the conflict.European officials are hopeful that Zelenskyy and the Trump officials can manage to hold a meeting that won’t erupt into open conflict. That may lead to a quick renewal of intelligence support, which European officials have not lost hope for.But there are broader discussions about whether or not the US remains a viable longterm partner for the Ukraine. For now, the Ukrainian side has few options except to make amends. More

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    The founding fathers baked reason, truth and free speech into the US. That’s all gone now | Will Hutton

    The founding fathers of the USA – James Madison, Thomas Jefferson, Alexander Hamilton, Benjamin Franklin and more – were quintessential disciples of the European Enlightenment. Their intent was to embed Enlightenment values into the government and culture of the New World. America would be a republic of laws. Its constitution would ensure governance of the people, by the people, for the people. Through checked and balanced branches of government, it would expunge the possibility of monarchical discretionary power and inaugurate proper democracy.It would celebrate all liberties, from freedom of speech to freedom of worship. Their belief in science “for the benefit of mankind in general”, in Franklin’s words, would imbue the republic’s commitment to reason, the scientific method and the pursuit of truth. The dynamic economy and society that emerged, however imperfect, reflected those values. It has inspired billions and, for all its falls from grace, has been a force for good.Donald Trump’s presidency is widely deplored for everything from his unilateral imposition of swingeing tariffs to his public humiliation of Ukraine’s president, Volodymyr Zelenskyy, and siding with Russia over the war. He is guilty of all those things, and of an impulsiveness and unpredictability as he seeks retribution, respect and, as he would put it, reciprocity. But this misses the larger point: he draws not only on a constituency that shares his views but also on a well-developed body of thought that wants a decisive rupture with those Enlightenment values and all that spring from them.There is now genuine fear in US civil society – in business, finance, academia, the media and the Republican party – that to speak out will bring cruel retribution or even personal harm: this from the apostles of “free speech”. The US has gone mute. Its Enlightenment-based constitution and the accompanying values once held to be universal are being torched in near silence. Only fealty to Making America Great Again, by repudiating its notable traditions, is permitted – at home and abroad. The profundity of this is beginning to be recognised. Canada finds itself fighting for its life. Friedrich Merz, the incoming German chancellor, says for Europe it is “five to midnight”. He is driving through an extraordinary €1tn commitment to raise German defence and infrastructure spending over the next 10 years. The EU is bracing itself for attacks on its trade and its capacity to set standards and regulations for all goods EU citizens buy – so-called non tariff barriers – that Trump plans to launch “soon”. The EU’s high product standards, he argues, discriminate against lesser-regulated US exports. Even VAT is anti-American. The EU’s very being as a self-governing, multinational organisation is under threat.Multilateral organisations like the EU and the UN, expressing the same Enlightenment values as the US constitution, are in Trump’s crosshairs. The unashamed project is to reshape the world economic and political order so it serves only the interests of the US – as if it did not already. Can Britain really be a bridge between this vision and Europe, as Keir Starmer wants? These differences are unbridgeable.Trump’s court at Mar-a-Lago, high on power and much else, has reportedly worked on a draft contract for countries to sign that reverses the alleged rip-off of the US. Instead, they will have to agree to boost US industry by accepting one-sided trade deals and appreciating their currencies. In return, they will be offered degrees of US security. Countries are said to be colour coded green, yellow and red, depending on the degree to which they might wholly accept vassalage, bargain for a compromise or are deemed to be enemies – with China the number-one target, and also including Canada, Mexico and the EU. Nato and the World Trade Organization be damned.Stephen Miran, the new chair of the US Council of Economic Advisers, won his job as the author of an extraordinary paper – A User’s Guide to Restructuring the World Trading System. Trump can reshape the global economic and trade order, he argues, through creating targeted tariff policies aimed at countries to which the US objects. The tariff regime must be designed to maximise fear and uncertainty; last week’s imposition, then withdrawal, of car tariffs on Mexico and Canada was a prime example. The bulk of any economic costs will be displaced on to the countries at the receiving end by forcing them to raise their currencies against the dollar. He writes approvingly of Scott Bessent, now Trump’s treasury secretary, last year publicly arguing for putting countries into varying Mar-a-Lago style buckets corresponding to their readiness to comply with Washington’s will.Self-pity at the US’s alleged victimhood pervades Trumpite thinking. Even on Miran’s own numbers, the US still accounts for the same 25% of world GDP now as it did in 1980 – a phenomenal achievement. America is as great as it ever was. Only 19% of its GDP is imports, but these are blamed entirely for the fall in manufacturing employment as if robotisation, automation and the emergence of a service-based economy were irrelevant. Many working-class Americans have certainly suffered from these changes – but that needed an enlightened domestic policy response. China has re-industrialised by electrifying and decarbonising its economy. This is dismissed as woke.Adam Smith, the great Enlightenment economist, inspired the founding fathers as much as Montesquieu, Jean-Jacques Rousseau and Thomas Paine. He praised the invisible hand of the market and open trade as pathways to the common good of greater prosperity – but none of that is for the Trumpites. They come from the mobster, cowboy, might-is-right, make-a-deal-on-my-terms strain of US culture and society. The humbling of Zelenskyy is the tip of this anti-Enlightenment iceberg. They are the masters now, and will gladly bend the US electoral system to stay that way. As some judges stir themselves, and political dissenters start to be braver, it’s an open question if they will succeed – but going back, if at all, is likely to be only partial.skip past newsletter promotionafter newsletter promotionStarmer’s tactics so far have been hard to fault. His level-headedness, decency and pragmatism have been assets. But he faces an unavoidable choice: Britain cannot achieve economic growth by remaining a vassal state to the US while abjuring closer trade relations with Europe. Trump does not want Britain to grow US-competitor great tech companies, which are essential to economic growth. Nor does he want to defend Ukraine and Europe. It is brutally stark. The UK must make common cause with Europe to defend not only our economic and defence interests but, more importantly, our values. They live only in Europe now. More

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    ‘Major brand worries’: Just how toxic is Elon Musk for Tesla?

    Globally renowned brands would not, ordinarily, want to be associated with Germany’s far-right opposition. But Tesla, one of the world’s biggest corporate names, does not have a conventional chief executive.After Elon Musk backed Alternative für Deutschland (AfD) – calling the party Germany’s “only hope” – voters are considering an alternative to Tesla. Data released on Thursday showed that registrations of the company’s electric cars in Germany fell 76% to 1,429 last month. Overall, electric vehicle registrations rose by 31%.Tesla’s biggest shareholder, who has voiced support for rightwing leaders around the world, is now a de facto US cabinet member under Donald Trump’s administration.Tesla’s valuation has become inextricably tied to Musk’s politics. After he spent $288m backing Trump’s 2024 election victory, Tesla’s valuation passed $1tn. Yet Musk’s political involvements – unprecedented for the head of a company that size – could also be having a negative effect.On Friday, a group of Extinction Rebellion activists occupied a Tesla store in central Milan. Activists chained themselves to the cars’ tyres, and others glued themselves to the windows along with the slogans “Make millionaires pay again” and “Ecology for all, no ecofascism”.Analysts are openly wondering if Musk is causing lasting damage to a brand he has made synonymous with electric cars and, by extension, liberal aspirations to tackle climate change.Tesla was approached for comment.Tesla was the world’s biggest producer of battery electric cars in 2024, but sales dropped to 1.79m, the first time the company has endured a sales decline since 2011 after years of rapid growth that made it the world’s most valuable carmaker.The manufacturer said in January that global sales would grow during 2025, and Wall Street analysts expect Tesla to sell more than 2m cars this year. But even those forecasts would hardly represent a blazing return to form. As recently as October, Musk said he expected 20% to 30% annual sales growth, implying as many as 2.3m cars sold.“Customer retention will be key in 2025 as customers may begin to look for an ‘Alternative for Tesla’,” said Matthias Schmidt, a Berlin-based electric car analyst.View image in fullscreenOther analysts are more optimistic. Dan Ives, of Wedbush Securities, a US financial firm, is a longstanding Tesla supporter. Ives believes the company’s share price could rise from its current level of about $280 to hit $550. However, he acknowledged the negative perception created by Musk’s partnership with Trump and his work on the so-called department of government efficiency (Doge) – an issue he described as the “elephant in the room” for the brand.Calling them “major brand worries for Tesla”, he added in a note to investors that the direct impact on sales should be relatively small. “We estimate less than 5% of Tesla sales globally are at risk from these issues despite the global draconian narrative for Musk.”Ives said that Tesla was on the verge of making a new, cheaper vehicle – costing less than $35,000 – and would “own” the autonomous vehicle market, factors that would help push Tesla to a valuation of more than $2tn.Nonetheless there are clear signs in the US, Tesla’s biggest market, that would-be buyers are wavering, according to Strategic Vision, a market research company. Its new vehicle experience study tracks the buying preferences of up to 250,000 car buyers in the US, and it shows a sharp decline in regard for Tesla since Musk bought Twitter (now X) in 2022.Shortly before the multibillionaire bought the social media platform, 22% of new vehicle buyers would have “definitely” considered buying a Tesla. By the end of 2024 it was just under 8%. The proportion who would not consider buying a Tesla has risen from 39% over the same period to 63%.According to Strategic Vision, approximately half of non-Tesla EV buyers identify as Democrat or liberal, compared with about 20% identifying as Republican or conservative. Among Tesla owners, the Democrat owner group has fallen from 40% during the Biden administration to 29% now, with the Republican group averaging about 30% since 2021.“Democrats, the majority party of EV owners, are now actively rejecting Tesla and choosing other options,” said Alexander Edwards, president of Strategic Vision.Meanwhile, global protests against Musk and Tesla are intensifying. In America, there have been demonstrations outside dozens of Tesla showrooms, while in the UK a guerrilla poster campaign – “0 to 1939 in 3 seconds” – has emphasised Musk’s fascist-style salute at an inauguration rally. In Germany, he was recently caricatured on a carnival float as “Napo-Elon”.Ross Gerber, chief executive of the US investment management firm Gerber Kawasaki, which holds shares in Tesla, said Musk had given people an outlet to express their disdain for his politics.skip past newsletter promotionafter newsletter promotionHe said: “He has left himself open to a direct way for people to attack him if they don’t like his politics. It’s ironic because the vehicles were made for liberals who care about the environment and it has become a symbol of the conservative movement.”Tesla is valued at about $847bn – still more than the next 10 carmakers combined. Few investment banks have included any effect from Musk in their work trying to accurately value Tesla. Still, there are further reports of falling sales. In Australia, February sales were down about 72% compared with the same month in 2024, according to data released this week.View image in fullscreenSeveral analysts have raised concerns that the current valuation is much too high. JP Morgan is among the most pessimistic of the investment banks, suggesting that Tesla’s share price could fall as low as $135 – or a valuation closer to $400bn. Musk is the largest shareholder in Tesla, a key contributor to his status as the world’s wealthiest person.“Tesla shares continue to strike us as having become completely divorced from the fundamentals,” wrote JP Morgan in January, pointing out that 2025 profit expectations were down 70% since 2022. The share price has more than doubled since then – something that would not usually happen when investors expect lower profits.Analysts at UBS, a Swiss investment bank, concur, saying that Tesla’s valuation “continues to confound us”, with big risks in its efforts to make money from self-driving cars or humanoid robots.While sales declined steeply in January in several markets, several analysts have warned against relying on numbers for a single month. Schmidt said: “Some consumers are likely holding back purchase decisions and waiting for the updated Model Y which arrives this month. The big question though is, are these just the die-hard Tesla enthusiasts which remain in line while other potential consumers jump ship?”There have also been positive signs elsewhere. UK Tesla sales fell in January, but bounced back by a fifth in February to leave sales up year-on-year for 2025 so far. In the US there were also signs of a recovery after a fall in January, with preliminary data for February indicating rebound sales of about 42,000 cars, up 14% year-on-year, according to Wards Intelligence.But the UK sales figures also highlight another concern for investors: that Tesla’s lead on rivals could be narrowing as a flood of new models arrive. Tesla’s electric market share for the first two months of 2025 was 11%, down from 14% in 2024, according to New Automotive, a research group.Ben Nelmes, New Automotive’s chief executive, said: “The impact of Elon Musk’s political views on Tesla’s sales may have been overstated, but Tesla is gradually losing its position as the dominant EV seller in the UK as other carmakers bring more up-to-date and cheaper models to market.”In China Tesla is under big pressure from a slew of cheaper competitors, most notably BYD. In Tesla’s second-biggest market, sales of its China-made EVs dropped 49% year-on-year in February, to the lowest level since August 2022.Edward Niedermeyer, author of Ludicrous – a 2019 book about Tesla which focuses on Musk’s habit of making bold claims about the business that don’t stack up – argues that the prospect for new business like robotaxis and robots are distant. “The unique moment that we’re in now is the business has peaked,” he said.The worry for Tesla investors is whether Musk has turned that peak into a cliff-edge.Additional reporting Lorenzo Tondo More

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    Russia warns Starmer’s peacekeeping troops plan would amount to ‘direct war’

    Your support helps us to tell the storyFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it’s investigating the financials of Elon Musk’s pro-Trump PAC or producing our latest documentary, ‘The A Word’, which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.Your support makes all the difference.Read moreRussia has hit out at Sir Keir Starmer’s plan for British troops to form part of a peacekeeping force in Ukraine, saying it would amount to direct involvement in the war.The prime minister, along with Emmanuel Macron, has been seeking to build a “coalition of the willing” to enforce any potential deal.But Russian foreign minister Sergei Lavrov said troops on its border would amount to the “direct, official and unveiled involvement of Nato members in the war against Russia”, adding: “It can’t be allowed.”Britain has signed a deal with an Anglo-American security firm to provide Ukraine with more advanced attack drones – in contrast to Donald Trump’s White House which has paused supplies of US military aid and intelligence-sharing.“The fighting is going on and it’s a big mistake to think that, well all we’ve got to do is wait for a deal now,” the prime minister said. “We’ve got to make sure that if they are fighting on they’re in the strongest position and even if they go into negotiation that they’re in the strongest position.”It came as defence secretary John Healey held talks last night with US counterpart Pete Hegseth. Mr Healey said he was “fixed” on seizing the opportunity for securing peace with Volodymyr Zelensky confirming Ukraine and the US will hold talks to end the war in Saudi Arabia next week.Mr Healey said: “It’s the detail of those discussions which are rightly behind the scenes that the defence secretary and I will now pursue.”Mr Hegseth, meanwhile, dismissed as “garbage” accusations that Washington had taken a pro-Russia stance. “The press is interested in narratives. Our president is interested in peace,” he said. He also reiterated that the arms supply freeze to Ukraine was temporary.Britain’s agreement with Anduril will see cutting-edge Altius 600m and Altius 700m systems – designed to monitor an area before striking targets that enter it – being supplied to Kyiv to help tackle Russian aggression in the Black Sea. The new contracts total nearly £30m and are backed by the International Fund for Ukraine, the Ministry of Defence said.It comes amid concerns that the US move to halt intelligence-sharing with Ukraine will affect the country’s ability to use Western weaponry and deprive it of advanced information about incoming threats.In Brussels, European Union leaders met Mr Zelensky for talks about support for Ukraine and increased defence spending.The Ukrainian president thanked European leaders for their support, saying: “We are very thankful that we are not alone. These are not just words, we feel it.”Leaders also agreed a £670bn defence package for the European Union as it grapples with the prospect of Mr Trump reducing security assistance for Europe.European Commission president Ursula von der Leyen said it was a “watershed moment”, adding: “Europe faces a clear and present danger and therefore Europe has to be able to protect itself, to defend itself as we have to put Ukraine in a position to protect itself and to push for a lasting and just peace.”Moscow said President Macron’s offer of peacekeeping troops was “extremely confrontational”.“Unlike their predecessors, who also wanted to fight against Russia, Napoleon, Hitler … Mr Macron does not act very gracefully, because at least they said it bluntly: ‘We must conquer Russia, we must defeat Russia.’”Former president Dmitry Medvedev mocked him on social media, calling him “Micron” and saying he “poses no big threat”.“He’ll disappear forever no later than May 14, 2027. And he won’t be missed,” Mr Medvedev wrote.And Mr Trump’s special envoy to Ukraine and Russia, retired Lt Gen Keith Kellogg, said the suspension of military help to Mr Zelensky is already having an impact, adding that the Ukrainians “brought it on themselves”.“The best way I can describe it is sort of like hitting a mule with a two-by-four across the nose,” Mr Kellogg said at an event at the Council on Foreign Relations. “You got their attention.” More