Articles

• South Korea secures alternative oil as Hormuz disruption hits supplies
• AUD, NZD fall as oil surge and ongoing war risks lift stagflation fears
• PBOC sets USD/ CNY reference rate for today at 6.8880 (vs. estimate at 6.8764)
• Trump offers no new Iran signals; markets turn cautious after speech
• Trump spoke without adding new info, still a 2-3 timeline, no ground war announced
• Trump address: Going to hit Iran very hard over the next 2-3weeks
• Massive Australian February trade surplus, >double estimates at 5.683bn
• Chatter that Trump will float the idea of using ground troops in Iran in his address
• Hedge funds suffer worst drawdown since 2022 as volatility hits markets
• Tsunami warning issues after M7.8 earthquake, Indonesia (Molucca Sea)
• Stolen from Iran, mass-produced — US unleashes ‘Corolla drone’ on Tehran
• US uses Pakistan channel to reach Iran as ceasefire prospects remain uncertain
• Trump to overhaul steel, aluminium tariffs, lifting effective import costs
• investingLive Americas FX news wrap 1 Apr: Stocks rise, USD trims losses on stronger data
• SpaceX files confidential IPO paperwork, eyes record $1.5T+ valuation

At a glance:

• Trump signals Iran war “nearing completion” but leans hawkish
• Repeats 2–3 week timeline, warns of further heavy strikes
• No mention of withdrawal or ground troop deployment
• Markets fade prior risk-on move as de-escalation signal absent
• USD firmer, oil higher, equities softer, gold lower
• US tariff overhaul adds to inflation backdrop
• Australia trade surplus strong, but weak imports raise demand concerns

US President Trump told the nation that the Iran conflict is “nearing completion,” framing the operation as largely successful while reiterating a 2–3 week timeline. However, the tone leaned more hawkish than conciliatory, with Trump warning the US would hit Iran “extremely hard” if a deal is not reached, including potential strikes on electricity and possibly oil infrastructure.

While he referenced ongoing discussions with what he described as more “moderate” Iranian leadership, there was no confirmation of a ceasefire framework, no mention of a US withdrawal, and no indication of ground troop deployment. The overall message was one of continued pressure rather than clear de-escalation.

Markets had entered the speech positioned for a softer tone following two days of risk-on price action and a pullback in oil. That signal did not materialise, and the move was largely faded. The US dollar strengthened, equities turned lower, oil prices pushed higher, and gold declined, reflecting a cautious shift back toward risk-off positioning.

The broader geopolitical backdrop continues to centre on the Strait of Hormuz, with no new clarity on reopening timelines, leaving energy supply risks firmly in place and maintaining upward pressure on inflation expectations.

Separately, trade policy developments added to the inflationary mix, with the US expected to overhaul steel and aluminium tariffs. While the proposed changes simplify compliance, they are likely to increase effective import costs by applying tariffs to the full value of finished goods.

From Australia, February trade data surprised to the upside, with the surplus exceeding AUD 5bn, more than double expectations, driven in part by strong gold exports. However, imports declined month/month against expectations for an increase, pointing to potential softness in domestic demand and raising questions about underlying consumer strength.

This article was written by Eamonn Sheridan at investinglive.com.

Remarks here, distilled from a long rambling speech.

• Trump address: Going to hit Iran very hard over the next 2-3weeks

Market movement over the previous 2 days were hinged on an announcement of him pulling out. Not yet though.

Oil popped a little:

Gold, AUD down … markets a risk off response, but not an extended one so far.

This article was written by Eamonn Sheridan at investinglive.com.

Exports surged while imports fell very sharply:

This article was written by Eamonn Sheridan at investinglive.com.

This chatter doing the rounds:

Unconfirmed reports (Fautuks on twitter / X) citing Fox News suggest Trump may signal the possible use of ground troops to secure Iranian uranium in an upcoming speech, a scenario analysts say would involve complex and high-risk operations

This article was written by Eamonn Sheridan at investinglive.com.

Tsunami threat issued:

• M 7.8
• 119 km WNW of Ternate, Indonesia
• Depth 10.0 km

Impacts could extend to shores of Indonesia, Philippines and Malaysia

This article was written by Eamonn Sheridan at investinglive.com.

US deploys low-cost ‘Lucas’ drone inspired by Iranian design in war. Wall Street Journal report (gated)

Summary:

• US deploys low-cost “Lucas” drone built from reverse-engineered Iranian tech
• Rapid development marks shift toward cheaper, scalable warfare systems
• Drones used in strikes on Iranian military and IRGC infrastructure
• Cost efficiency contrasts sharply with traditional US munitions
• Highlights both progress and gaps in US defence readiness

A low-cost attack drone developed by the US military using reverse-engineered Iranian technology is emerging as a defining feature of the current conflict, underscoring a major shift in how modern warfare is being approached.

The system, known as the FLM-136 or “Lucas,” was designed in under two years and deployed early in the war, where it has been used in strikes against Iranian military targets, including weapons facilities, drone production sites and air-defence systems. Senior defence officials say the strikes contributed to a sharp decline in Iranian drone activity in the early phase of the conflict.

Unlike traditional US defence programs, often characterised by long development cycles and high costs, Lucas reflects a new strategy focused on speed, scale and affordability. The drone, described by former officials as the “Toyota Corolla of drones,” is built to be mass-produced and expendable, with unit costs estimated between $10,000 and $55,000. That compares with legacy systems such as Tomahawk cruise missiles, which cost upwards of $2 million each.

The origins of the program trace back to US military planning for a potential conflict with China, where simulations showed that critical munitions stockpiles could be depleted within weeks. In response, defence planners prioritised the development of low-cost, long-range strike systems capable of being produced rapidly and at scale.

The Lucas drone was developed by reverse-engineering an Iranian Shahed drone recovered from Ukraine, marking a rare instance of the US adopting adversary technology as a blueprint. The Pentagon has retained intellectual property control, allowing it to tap a broader network of manufacturers to scale production quickly, with multiple firms expected to produce hundreds of units per month.

While the system has proven effective in the current theatre, where Iranian air defences are relatively degraded, questions remain over its performance in more contested environments, particularly against advanced electronic warfare and GPS jamming capabilities.

More broadly, the deployment highlights both progress and vulnerability. While the US has demonstrated it can rapidly field cost-effective systems, officials warn that gaps remain in counter-drone capabilities and in the broader supply of scalable, modern military hardware, raising questions about readiness for more complex future conflicts.

Lucas drone was developed by reverse-engineering an Iranian Shahed drone recovered from Ukraine

This article was written by Eamonn Sheridan at investinglive.com.

US tariff overhaul simplifies rules but risks raising effective import costs. Info via Wall Street Journal (gated).

Summary:

• Trump administration preparing overhaul of steel and aluminium tariffs
• Proposed shift to 25% levy on full value of finished goods
• Change simplifies compliance but may lift effective import costs
• Commodity metals to remain under existing tariff structure
• Could boost tariff revenue after court rulings cut other levie

The Trump administration is preparing to overhaul its steel and aluminium tariff framework, with a shift in how duties are applied to finished goods that could materially alter import costs despite an apparent reduction in headline rates.

According to reports, a presidential proclamation could be issued as soon as this week, introducing a 25% tariff on finished products containing steel and aluminium. Crucially, the proposed change would apply the duty to the full value of imported goods—rather than just the metal content—marking a significant structural shift in how tariffs are calculated.

Under the current system, derivative goods face tariffs of up to 50%, but only on the portion of their value attributable to steel or aluminium inputs. The new approach would replace this with a lower nominal rate applied to the entire product value, a move that simplifies compliance but could increase the effective tariff burden across a wide range of imports.

Commodity-grade steel and aluminium products—those largely composed of the underlying metals—would continue to face existing tariffs, with some products potentially reclassified into this category depending on composition.

The proposed changes come after sustained complaints from manufacturers that calculating the metal content of complex goods has been operationally difficult and inconsistent. By shifting to a full-value tariff approach, the administration aims to streamline enforcement while maintaining protection for domestic industries.

From a fiscal perspective, the move could also increase government tariff revenue, particularly after recent legal setbacks. A Supreme Court ruling earlier this year invalidated several of the administration’s broader tariff measures, reducing overall collections and prompting a reassessment of trade policy tools.

The overhaul reflects a broader push to reinforce domestic industrial capacity, with policymakers framing the changes as part of a wider strategy to reshore manufacturing and support U.S. producers. However, the impact is likely to vary significantly across sectors, with some importers facing higher costs despite the lower nominal tariff rate.

The one year anniversary of this debacle is next week.

This article was written by Eamonn Sheridan at investinglive.com.

• US equities make good gains for a second day but fade somewhat late
• Trump will say the Iran war is “winding down” in address, will criticize NATO
• Iran’s Pres Pezeskian : Iranian people harbor no enmity toward other nations
• The message from the market: The war will end because Trump wants it to end
• December WTI crude tells a story of moderate disruption. What’s the signal?
• French Navy chief speaking regarding the Strait of Hormuz
• White House: Pres Trump to reiterate 2 to 3 week timetable for end of war
• Atlanta Fed GDPNow dips to 1.9% from 2.0% last.
• Both the S&P and NASDAQ are testing key technical bias levels. Bulls and Bears fight
• Trump via Vance told Iran that he’s open to ceasefire if Hormuz opened – report
• EIA weekly US crude oil inventories +5451K vs +814K expected
• US business inventories for January -0.1% versus +0.1% estimate
• US March ISM manufacturing 52.7 vs 52.5 expected
• US March S&P Global manufacturing PMI 52.3 vs 52.4 prior
• Canada March S&P Global manufacturing PMI 50.0 vs 51.0 prior
• The USDCHF moves from a higher trend line to a lower trend line. Testing key support.
• BoE’s Bailey: I still think markets are getting ahead of themselves by pricing rate hikes
• US February retail sales +0.6% vs +0.5% expected
• US March ADP employment +62K vs +40K expected
• investingLive European markets wrap: Beginning of the end to the US-Iran war?

US stocks closed higher for the second consecutive day, with the Nasdaq leading the gains, up 1.16%, while the S&P 500 rose 0.72% and the Russell 2000 added 0.64%. With more than half the week complete, the major indices are now positioned to snap a five-week losing streak. The S&P 500 is up 3.24% on the week, on pace for its best performance since late November, while the Nasdaq is higher by 4.26%, also tracking its strongest weekly gain since that same period—assuming gains hold into the close.

In the rates market, yields initially moved lower but reversed higher into the close. The 10-year yield rose 2.3 basis points to 4.334%, after dipping to a session low of 4.261%. The 2-year yield increased 1.4 basis points to 3.813%, after trading as low as 3.735%. Meanwhile, oil prices edged lower, trading just below the $100 level at $99.60, down $1.78 on the day but well above the intraday low of $96.50.

The equity market tone remains supported by growing expectations that the Iran conflict may be nearing an end. President Trump is scheduled to speak at 9 PM ET, with indications he may signal that military objectives have largely been achieved and that the conflict is winding down. However, uncertainty remains. The Strait of Hormuz continues to represent a critical geopolitical risk, serving as both a chokepoint for global energy flows and a strategic lever for Iran, even as damage to infrastructure and leadership has been significant. Trump will be critical of the NATO allies for not coming to the US aid in reopening the shipping channels. Of course, it was Trump and Netanyahu who started the war without consultation with the allies.

Yields in the US were supported by better than expected economic data today. The March ADP report provides a steady but unspectacular lead-in to Friday’s NFP release. Private payrolls rose +62K, above the +40K expected, and broadly in line with the prior month (revised to +66K), suggesting the labor market is stabilizing after a soft start to the year. The gains were driven primarily by small businesses (+85K) and concentrated heavily in education and health services, which accounted for the bulk of hiring. Construction also contributed positively, but there were notable offsets from declines in trade/transportation, manufacturing, and hiring at medium and large firms, pointing to uneven underlying demand.

From a policy perspective, the report takes some pressure off the downside risks in employment, but it is far from signaling a reacceleration. Wage growth held steady for job stayers at 4.5%, while job changers saw a modest uptick to 6.6%, indicating some resilience in labor income.

As a prelude to Friday’s NFP, the ADP data leans modestly positive relative to expectations, especially following last month’s sharp -94K surprise decline in payrolls. With consensus looking for a +65K rebound and an unchanged unemployment rate at 4.4%, the ADP report supports the idea of a gradual recovery rather than a sharp bounce, keeping the labor market stable but not strong enough to materially shift the broader Fed narrative on its own.

US retail sales reinforced the narrative of a resilient consumer. February sales rose 0.6%, beating expectations of 0.5%, rebounding from January’s modest decline (revised to -0.1%). The details were equally firm, with ex-autos (+0.5%), ex-autos and gas (+0.4%), and the control group (+0.5%) all exceeding forecasts—an important signal for GDP. On a year-over-year basis, sales accelerated to +3.7% from +3.2%, reflecting steady demand. Strength was led by health care and clothing, alongside solid gains in online retail and food services, although some softness remained in food stores and furniture. Overall, the data underscores a consumer that continues to spend, helping to support broader economic growth despite ongoing geopolitical and macro uncertainties.

The March ISM Manufacturing report came in slightly stronger than expected, with the PMI rising to 52.7 vs 52.5 forecast (from 52.4 prior), marking the strongest level since August 2022 and signaling a third straight month of expansion in the sector. However, beneath the headline, the details were more mixed. Production improved, but new orders slowed to 53.5, suggesting demand is still not accelerating meaningfully, while the employment index remained in contraction (48.7), pointing to ongoing weakness in factory hiring. At the same time, inflation pressures picked up sharply, with the prices paid index jumping to 78.3, and supplier deliveries slowing—both reflecting supply chain disruptions and rising input costs tied in part to geopolitical tensions. Overall, the report shows manufacturing is stabilizing and expanding modestly, but the growth is uneven, with sticky inflation and weak hiring tempering the optimism heading into the broader economic outlook.

The business inventories came in lower than expectations but sales advanced by 0.4% sending the Inventory to Sales ratio to lower levels That could lead to more GDP growth down the road due to a restocking of the shelves to more normal levels.

In the forex market, the USD is ending the day mostly lower against the major currencies, but importantly well off its weakest levels as rising yields and stronger-than-expected economic data helped limit the downside.

The CHF remains the strongest performer, with USDCHF down -0.64%, although the pair has rebounded from its session low of 0.7906 to trade near 0.7941 into the close. The GBPUSD is up 0.59% on the day, but has also pulled back from its high at 1.3346, now trading around 1.3305 and notably back below its 200-hour moving average at 1.3315—a level that tilts the near-term bias more neutral to bearish. Similarly, the EURUSD gained 0.31%, reaching a high of 1.1627, but has eased to around 1.1590 as the session winds down. The EURUSD did extend above its 38.2% of the move down from the February 10 high at 1.1606 but is back below that key upside target, dulling some of the technical victories seen over the last two days.

Overall, while the dollar remains under pressure on the day, the failure to hold at extreme levels suggests sellers are losing some momentum, especially as rates and data begin to offer underlying support for the greenback.All eyes on Trump tonight (but then again, we all know it will be the typical Best of Trump full of patting himself on the back and pointing the finger of blame for things lot going as well as was hoped.

This article was written by Greg Michalowski at investinglive.com.

The main focal point today will, of course, be Trump speaking:

• Trump will say the Iran war is “winding down” in address, will criticize NATO

There is still US troop movement to the Middle East so regardless of what he says he might sneak in a ground assault some time over the weekend.

This article was written by Eamonn Sheridan at investinglive.com.

Trump yesterday announced that he will deliver a speech at 9 pm today.

There have been hints and leaks about it all day and now we have another one from Politico that says:

• Trump will declare the war is “winding down”
• He’s expected to claim that all military objectives have been met
• He intends to harshly scapegoat NATO allies for Homuz
• Steve Bannon, Trump’s former White House chief strategist, said the president will essentially declare victory
• Speech may touch on how he intends to move forward if ceasefire talks sputter

Here is what Bannon said:

“Two, three weeks, definable objectives. ‘I came, I saw, I conquered’ — and we are hanging around a couple of weeks to conquer some more — maybe even then a ceasefire, while reiterating that the Hormuz situation is the Gulf Emirates’ and the Europeans’ to solve, and declare victory.”

That’s been hinted at for awhile but for markets, Hormuz is the main issue and we really need to get a sense of where that’s headed.

Another source said:

It needs to be reassuring,” one of the people familiar said. “It needs to be very direct because he’s not just communicating with the American people but the Iranians, our allies in the region and our allies in Europe.”

That’s not exactly his style.

This article was written by Adam Button at investinglive.com.

Iranian President Masoud Pezeshkian has released an open letter to the American people, questioning whether Washington is truly putting “America First” or merely acting as a “proxy for Israel” willing to fight “to the last American soldier.”

In the Wednesday message, which traces the roots of US-Iran tensions back to the 1953 coup while condemning recent bombings of Iranian infrastructure, Pezeshkian notes that Tehran harbors no enmity toward ordinary Americans.

Instead, he urges the U.S. populace to look past “manufactured narratives,” arguing that the perceived Iranian threat is an invention of the military-industrial complex and Israeli political interests.

Summary:

Iran’s Historical Identity
Pezeshkian presents Iran as one of the world’s oldest continuous civilizations — one that has never initiated a war in modern history, even when militarily capable of doing so.

Iran-U.S. Relations: Origins & Deterioration
He traces the breakdown to the 1953 U.S.-backed coup against Mosaddegh, followed by support for the Shah, U.S. backing of Saddam Hussein in the 1980s war, and decades of sweeping sanctions.

Iran as a Manufactured Threat
Pezeshkian argues Iran’s threatening image is politically constructed to justify military spending, regional dominance, and arms industry interests — not grounded in Iranian behavior.

Iran’s Domestic Progress Despite Pressure
He points to measurable gains — literacy rising from ~30% to over 90%, advances in technology, healthcare, and infrastructure — as evidence of Iranian resilience and capability.

Critique of U.S. Military Actions
Recent strikes on energy, industrial, and medical facilities are called war crimes that harm civilians and damage America’s global standing.

Israel’s Alleged Role
Pezeshkian directly accuses Israel of manipulating the U.S. into fighting Iran as a proxy war, diverting attention from Palestinian issues at American expense.

Appeal to the American Public
He encourages Americans to look past media narratives and points to Iranian immigrants thriving in Western institutions as a counter-narrative.

Closing Message
Confrontation is framed as historically futile. Pezeshkian positions Iran as enduring and dignified, and calls for a shift toward engagement.

The full text of the president’s letter follows below:

In the name of God, the Compassionate, the Merciful

To the people of the United States of America, and to all those who, amid a flood of distortions and manufactured narratives, continue to seek the truth and aspire to a better life:

Iran—by this very name, character, and identity—is one of the oldest continuous civilizations in human history. Despite its historical and geographical advantages at various times, Iran has never, in its modern history, chosen the path of aggression, expansion, colonialism, or domination. Even after enduring occupation, invasion, and sustained pressure from global powers—and despite possessing military superiority over many of its neighbors—Iran has never initiated a war. Yet it has resolutely and bravely repelled those who have attacked it.

The Iranian people harbor no enmity toward other nations, including the people of America, Europe, or neighboring countries. Even in the face of repeated foreign interventions and pressures throughout their proud history, Iranians have consistently drawn a clear distinction between governments and the peoples they govern. This is a deeply rooted principle in Iranian culture and collective consciousness—not a temporary political stance.

For this reason, portraying Iran as a threat is neither consistent with historical reality nor with present-day observable facts. Such a perception is the product of political and economic whims of the powerful— the need to manufacture an enemy in order to justify pressure, maintain military dominance, sustain the arms industry, and control strategic markets. In such an environment, if a threat does not exist, it is invented.

Within this same framework, the United States has concentrated the largest number of its forces, bases, and military capabilities around Iran—a country that, at least since the founding of the United States, has never initiated a war. Recent American aggressions launched from these very bases have demonstrated how threatening such a military presence truly is. Naturally, no country confronted with such conditions would forgo strengthening its defensive capabilities. What Iran has done—and continues to do—is a measured response grounded in legitimate self-defense, and by no means an initiation of war or aggression.

Relations between Iran and the United States were not originally hostile, and early interactions between the Iranian and American people were not marred with hostility or tension. The turning point, however, was the 1953 coup d’état—an illegal American intervention aimed at preventing the nationalization of Iran’s own resources. That coup disrupted Iran’s democratic process, reinstated dictatorship, and sowed deep distrust among Iranians toward U.S. policies. This distrust deepened further with America’s support for the Shah’s regime, its backing of Saddam Hussein during the imposed war of the 1980s, the imposition of the longest and most comprehensive sanctions in modern history, and ultimately, unprovoked military aggression—twice, in the midst of negotiations—against Iran.

Yet all these pressures have failed to weaken Iran. On the contrary, the country has grown stronger in many areas: literacy rates have tripled—from roughly 30% before the Islamic Revolution to over 90% today; higher education has expanded dramatically; significant advances have been achieved in modern technology; healthcare services have improved; and infrastructure has developed at a pace and scale incomparable to the past. These are measurable, observable realities that stand independent of fabricated narratives.

At the same time, the destructive and inhumane impact of sanctions, war, and aggression on the lives of the resilient Iranian people must not be underestimated. The continuation of military aggression and recent bombings profoundly affect people’s lives, attitudes, and perspectives. This reflects a fundamental human truth: when war inflicts irreparable harm on lives, homes, cities, and futures, people will not remain indifferent toward those responsible.

This raises a fundamental question: Exactly which of the American people’s interests are truly being served by this war? Was there any objective threat from Iran to justify such behavior? Does the massacre of innocent children, the destruction of cancer-treatment pharmaceutical facilities, or boasting about bombing a country “back to the stone ages” serve any purpose other than further damaging the United States’ global standing?Iran pursued negotiations, reached an agreement, and fulfilled all its commitments. The decision to withdraw from that agreement, escalate toward confrontation, and launch two acts of aggression in the midst of negotiations were destructive choices made by the U.S. government—choices that served the delusions of a foreign aggressor.

Attacking Iran’s vital infrastructure—including energy and industrial facilities—directly targets the Iranian people. Beyond constituting a war crime, such actions carry consequences that extend far beyond Iran’s borders. They generate instability, increase human and economic costs, and perpetuate cycles of tension, planting seeds of resentment that will endure for years. This is not a demonstration of strength; it is a sign of strategic bewilderment and an inability to achieve a sustainable solution.

Is it not also the case that America has entered this aggression as a proxy for Israel, influenced and manipulated by that regime? Is it not true that Israel, by manufacturing an Iranian threat, seeks to divert global attention away from its crimes toward the Palestinians? Is it not evident that Israel now aims to fight Iran to the last American soldier and the last American taxpayer dollar—shifting the burden of its delusions onto Iran, the region, and the United States itself in pursuit of illegitimate interests?

Is “America First” truly among the priorities of the U.S. government today?

I invite you to look beyond the machinery of misinformation—an integral part of this aggression—and instead speak with those who have visited Iran. Observe the many accomplished Iranian immigrants—educated in Iran—who now teach and conduct research at the world’s most prestigious universities, or contribute to the most advanced technology firms in the West. Do these realities align with the distortions you are being told about Iran and its people?

Today, the world stands at crossroads. Continuing along the path of confrontation is more costly and futile than ever before. The choice between confrontation and engagement is both real and consequential; its outcome will shape the future for generations to come. Throughout its millennia of proud history, Iran has outlasted many aggressors. All that remains of them are tarnished names in history, while Iran endures—resilient, dignified, and proud.

This article was written by Greg Michalowski at investinglive.com.

Yesterday, Pres Trump posted on Truth Social:

Today, the French Navy Chief is speaking and saying:

• Number of Chinese vessels going through the Strait of Hormuz not enough to restore normal traffic flows
• China will probably need to engage more directly in the debate and show its impatience on closure of Strait of Hormuz.
• France’s trying to bring several countries together at political level to determine conditions under which the Strait of Hormuz can be reopened in a lasting way.
• Military would ultimately be needed to monitor Hormuz reopening.
• No evidence at this stage that Strait of Hormuz has been mined

French Navy — Current Forces

The Marine Nationale fields a well-rounded modern fleet centered on the nuclear-powered aircraft carrier Charles de Gaulle, the only one of its kind outside the US, carrying Rafale M fighters and E-2C Hawkeye aircraft. Its surface fleet includes FREMM multi-mission frigates, La Fayette-class stealth frigates, and Mistral-class amphibious assault ships. Underwater, France operates Triomphant-class ballistic missile submarines (keeping at least one on patrol at all times for nuclear deterrence) alongside the newer Suffren-class nuclear attack submarines, which are gradually replacing the aging Rubis class.

With one of the world’s largest Exclusive Economic Zones, the navy maintains permanent deployments across the Pacific, Atlantic, Indian Ocean, and Caribbean. It also actively participates in NATO operations and EU maritime missions. On the horizon, the FDI frigates are entering service to bolster the surface fleet, and a next-generation carrier (PANG) is in development to replace the Charles de Gaulle around 2038.

This article was written by Greg Michalowski at investinglive.com.