Mandelson leaked sensitive UK government tax plans to Epstein
Former business secretary forwarded memo from special adviser to Gordon Brown to late sex offender in 2009
Rightwing populist wins Costa Rica presidential vote
Laura Fernández promises crackdown on drug-related crime and continuation of predecessor Rodrigo Chaves’s agenda
Germany arrests five accused of smuggling western tech to Russia
Group accused of supplying 24 Russian arms makers with European technology worth €30mn, in breach of sanctions
FirstFT: Gold and silver prices extend slump
Also in today’s newsletter: revelations from 3mn Epstein-related documents, and Wall Street banks vs crypto companies
ICE agents hate being filmed
Trump administration accused of trampling First Amendment by targeting Americans recording immigration raids
Verizon taps candidates to replace executive once seen as next chief
Leadership turmoil at largest US mobile carrier comes amid gains by competitors and customer frustration
India weighs lifting foreign ownership cap in state-owned banks
New Delhi’s proposal to raise cap to 49% would mark a significant shift in policy
What do the Epstein files reveal about Mandelson’s finances?
Former UK ambassador to US claims he has ‘no record or recollection’ of payments
Gold and silver slump deepens and rattles equities
Declines in precious metals follow record-breaking rally
Toyota has ‘no intention’ to raise $34bn take-private offer after Elliott challenge
Activist investor has argued that the price undervalues carmaker’s largest subsidiary
What one US city tells us about Trump's America
Bethlehem, Pennsylvania, is a post-industrial city in one of the country’s electoral battlegrounds
The bigger problem with Labour’s botched business rates U-turn
Tax reform demands choices about ‘special treatment’ that politicians have long avoided
Hawkish summary of opinions suggests near-term BoJ rate rise
Rate-setters worry about falling behind the curve
Ikea assembles China strategy with closure of 7 big stores
Swedish furniture group shifts to smaller outlets under Ingka chief executive Juvencio Maeztu
UK house prices record modest rebound after December dip
Rise comes after slight fall at end of last year amid uncertainty around potential Budget changes to property taxes
Julius Baer profits drop after credit losses and Brazil business sale
Trading activity and assets under management increase as Swiss bank works to move beyond past risk failures
Kevin Warsh: you have to make a bet
What comes after data dependence?
FTAV’s further reading
Maths shenanigans; OpenAI shenanigans; spy sheikh shenanigans; Epstein shenanigans
An oral history of the Fed’s Covid-19 crisis
We read a bajillion pages of transcripts so you don’t have to (unless you really want to, of course)
EU eyes fee for UK arms producers to benefit from €90bn Ukraine loan
Also in this newsletter: Deploying the ACI, and dangerous methane
Private equity retail pioneer faces stiff competition
Plus, St James’s Place, hedge fund correlation and Michael Sheen’s debut play
The ‘deep-fried’ stocks that spurred a market meltdown
Index provider MSCI’s threatened downgrade has underlined the opacity of the Indonesian market
The best of TV and streaming this week
‘Take That’ offers a heady dose of nostalgia; ‘Wonder Man’ is more indie buddy comedy than superhero story; there’s more forbidden love in ‘Bridgerton’ series 4; plus ‘A Knight of the Seven Kingdoms’; ‘Steal’; and a virus that makes you beautiful comes with an ugly cost in ‘The Beauty’
BoE expected to hold rates amid conflicting signals on UK economy
Bank balances weakening jobs market against firmer growth