Good Morning

South Korean President Yoon Suk-yeol is facing impeachment proceedings after he unexpectedly declared martial law and then revoked it a few hours later. The move led to a political crisis when armed troops stormed parliament. The opposition demanded his resignation and, together with other parties, initiated impeachment proceedings, which are due to be voted on at the end of the week. There are also disagreements within Yoon's own party. Markets reacted nervously, while protests and strikes are on the rise in the country. Observers see Yoon's actions as a serious political mistake.

Donald Trump's advisors are drafting plans to end the war in Ukraine, which include territorial concessions to Russia and the exclusion of NATO membership for Ukraine. The proposals include negotiations between Moscow and Kiev, whereby US military support for Kiev would depend on whether Ukraine is willing to talk. Trump has promised to resolve the conflict within 24 hours of taking office, but experts doubt the feasibility of such plans. Ukrainian and European representatives could offer resistance, as these plans could mean the loss of Ukrainian territory and exclusion from NATO membership.

The French parliament is expected to vote on motions of no confidence on Wednesday, which will almost certainly lead to the dismissal of Prime Minister Michel Barnier's government. If this happens, it would be the first time in over 60 years that a French government has been toppled by a vote of no confidence.

The far-right Rassemblement National (RN) party has joined forces with left-wing parties to topple Barnier and together they have the necessary majority. Despite Barnier's warnings of serious consequences, experts do not expect an immediate financial crisis, but do see long-term negative effects on the economy and France's creditworthiness. President Emmanuel Macron could temporarily appoint Barnier as caretaker prime minister while he searches for a successor.

Taiwan's President Lai Ching-te has caused tensions with China on his trip to the USA and Pacific states. Beijing sees these visits as a provocation and accuses Lai of seeking Taiwan's independence. Taiwan, on the other hand, emphasizes its right to international relations. The Chinese government has responded with possible military maneuvers around Taiwan, while Taiwanese security authorities are monitoring China's growing military activities, which also include joint exercises with Russia. Tensions could be further exacerbated by China's domestic political instability, such as purges in the military ranks. The US justifies the “stopovers” of Taiwanese presidents in their country with security and convenience reasons, but Beijing criticizes this as a cover for diplomatic efforts.

Hakeem Jeffries, leading Democrat in the US House of Representatives, called on President Biden to pardon workers for non-violent offenses, similar to what he did for his son Hunter. Hunter Biden's pardon, following convictions for tax evasion and making false statements when buying guns, sparked bipartisan criticism. Jeffries joins 60 Democrats calling for Biden's pardon power to fight justice injustices.

Venezuelan migrants in Mexico face difficult choices as incoming US President Donald Trump plans stricter immigration policies. Many, like Nidia Montenegro, fear being stranded in Mexico without an asylum appointment and are considering returning to Venezuela, despite the hardship there. Violence and attacks by cartels make Mexico dangerous, while some migrants still hope to reach the border before Trump's inauguration. Aid organizations report an increase in voluntary return requests from traumatized migrants.

Intel is looking for a new CEO following the departure of Pat Gelsinger. Candidates are former board member Lip-Bu Tan and Marvell CEO Matt Murphy. Gelsinger was dismissed due to a lack of progress in restructuring. Intel is struggling with falling revenues and an expected annual loss of 3.68 billion dollars. CFO David Zinsner and Michelle Johnston Holthaus are leading the company on an interim basis.

Syrian rebels have closed in on the city of Hama and captured several villages, increasing the pressure on President Assad. This follows the capture of Aleppo, Syria's largest city, last week. The offensive comes as Assad's allies, including Russia and Iran, struggle to provide support as they are preoccupied with other regional issues. Iran-backed militias have joined the fight, while Kurdish-led forces are battling the Syrian army in the northeast. This escalation could further destabilize the region, while US, Russian and Israeli influence on the complex battlefield also remains palpable.

Donald Trump is requesting that the proceedings regarding the hush money payments to porn actress Stormy Daniels be dropped after he was found guilty of 34 charges in May. His lawyers argue that the guilty verdict is politically motivated and would disrupt the handover of power to the new US president. They are referring to the words of President Biden, who described his son's pardon as unjust. The proceedings concern the illegal payments of 130,000 US dollars that Trump allegedly made to gain advantages during the 2016 election campaign. If the verdict stands, Trump would be the first US president to govern as a convicted felon. A final decision on how to proceed is still pending.

For the sixth day in a row, thousands of people protested in Georgia against the Russia-friendly government and the postponement of EU accession negotiations. There were renewed riots in the capital Tbilisi, with police using water cannons and tear gas against the demonstrators. The protests are directed against the Georgian government's plan to postpone EU accession negotiations until 2028. The opposition accuses the government of moving closer to Russia and away from the EU. According to the Human Rights Ombudsman, there were numerous injuries and arrests, with the police using targeted violence. Government representatives accuse the opposition of fomenting violence.

The Kremlin currently sees no reason to negotiate an end to the war in the Ukraine conflict. Russia's air defenses have repelled a drone attack on Novorossiysk. NATO Secretary General Rutte emphasizes that NATO membership for Ukraine is not to be expected soon, but that infrastructure protection is a priority. President Selensky calls for reinforcements on the eastern front and more long-range weapons. Angela Merkel explained that her trust in Putin had been shaken following his lies about the annexation of Crimea.

Northvolt crisis: Millions are at stake for the federal and state governments: The crisis at Northvolt could prove costly for the federal government and the state of Schleswig-Holstein. The ailing company had received around €600 million from KfW, for which the federal and state governments are each guaranteeing half. (TAG)

SpaceX: On course for a $350 billion valuation: Elon Musk's space company is consolidating its position as the world's most valuable start-up. According to a report, the company could now be valued at up to 350 billion dollars - twice as much as a year ago. (BBG)

Berliner Digitalbank: Solaris liquidation averted for the time being: Investors in Berliner Bank voted against a liquidation this Monday - but a new financing proposal has not yet been signed. However, it seems clear from whom the majority of the required money will come. (GS)

Coffee: Why it's getting more and more expensive Coffee is more expensive than it has been for 50 years. And prices are likely to rise even further in the future. (TAG)

•  Digital bank: Solaris liquidation averted for the time being (MM)
• Auto industry: Slump in orders causes discontent (NTV)
• Northvolt crisis: Millions are at stake for the federal and state governments (BZ)
• EnBW: Considers return to nuclear power out of the question (TAG)
• Tennet: Plans to sell German grids (HB)
• US Federal Reserve: Monetary authorities keep option open for interest rate cut in December (BBG)
• Trump: Wants to block sale of US steel company to Japanese (MM)
• Intel: CEO Pat Gelsinger leaves (CNBC)
• Shein: UK regulator allows IPO in London for low-cost platform (FT)
• $56bn bonus: Judge again rejects Tesla boss Musk's billion-dollar pay package (CNBC)