Global air travel chaos caused by Heathrow closure may last days and cost hundreds of millions in losses. With Heathrow Airport shut Friday, global air travel is expected to be disrupted for days, potentially costing the airline industry hundreds of millions of dollars. (AP)

Sudan’s army recaptures presidential palace in Khartoum. The recapture of the palace from the Rapid Support Forces (RSF) marked a major turning point in the conflict and comes amid steps by the RSF to establish a parallel government, an idea that countries including the U.S. and Egypt have denounced. (NPR)

EU pushes back retaliatory tariffs on US to mid-April. The European Union will delay its first round of countermeasures to U.S. tariffs until mid-April, Olof Gill, a European Commission spokesperson, confirmed in an email to Supply Chain Dive. (Supply Chain Dive)

Johnson & Johnson plans $55 billion in US investments over the next four years. Johnson & Johnson said Friday that it is a 25% increase in investment compared with the prior four years and estimates the U.S. economic impact will be more than $100 billion a year. (AP)

Germany’s likely next leader wins parliament’s backing for huge defense and infrastructure spending. Germany’s would-be next chancellor, Friedrich Merz, won lawmakers’ approval Tuesday for ambitious plans to loosen the nation’s strict debt rules for higher defense spending as doubts mount about the strength of the trans-Atlantic alliance, and to set up an enormous fund for investment in its creaking infrastructure. (AP)

UK’s Reeves floats ‘radical shake-up’ of bureaucracy to cut business costs. The United Kingdom’s Labour Party government is set to announce a “radical shake-up” of bureaucracy aimed at cutting administrative costs for businesses by a quarter. (Al Jazeera)

‘Transitory’ is back as the Fed doesn’t expect tariffs to have long-lasting inflation impacts. Economic projections the central bank released Wednesday indicate that while officials see inflation moving up this year more rapidly than previously expected, they also expect the trend to be short-lived. The outlook spurred talk again about “transitory” inflation that caused a major policy headache for the Fed. (CNBC)

Namibia’s new president vows to diversify economy, tackle joblessness. Namibia’s newly elected President Netumbo Nandi-Ndaitwah pledged on Friday to boost investments in the agricultural sector and diversify the resource-focused economy in an attempt to address high unemployment rates. (Reuters)

Bank of England expected to keep rates on hold amid headwinds it can’t fully predict or control. The Bank of England is widely expected to hold interest rates when it meets on Thursday, as the U.K. faces economic headwinds both at home and abroad. (CNBC)

India’s $23 billion plan to rival China factories to lapse after it disappoints. Indian Prime Minister Narendra Modi’s government has decided to let lapse a $23 billion program to incentivize domestic manufacturing, just four years after it launched the effort to woo firms away from China, according to four government officials. (Reuters)

Ugandan parliament approves $190 million loan to pay power distributor Umeme. Uganda’s parliament has approved a government request to borrow $190 million from Stanbic Bank, opens new tab to compensate power distributor Umeme Limited, opens new tab for unrecovered investments after its concession expires, the energy minister said. (Reuters)

BRICS, planes and beef in spotlight as Brazil’s Lula visits Vietnam, sources say. Brazil’s President Luiz Inacio Lula da Silva will visit Vietnam next week, bringing with him a business delegation including executives from plane maker Embraer and food giant JBS that are both in talks for possible deals in the Southeast Asian country, sources said. (Reuters)

Construction planning posts smaller gains. Nonresidential construction planning lost some momentum in February after several months of stronger growth, according to Dodge Construction Network. (Construction Dive)

Taiwan’s president pushes to increase defense budget amid rising threat from China. Taiwanese President William Lai Ching-te said Thursday that the island’s defense budget will exceed 3% of its economic output as it overhauls its military in the face of the rising threat from China. (NPR)