Carlyle agrees deal to buy Lukoil’s international assets after sanctions
Conditional agreement comes after Washington targeted the Russian company in October
Top chipmakers to boost capital spending amid AI-driven supply squeeze
South Korea’s Samsung and SK Hynix post record earnings but say capacity expansion will be limited this year and next
Tesla’s car-lite shift and an app to die for
The inside story on the Asia tech trends that matter, from Nikkei Asia and the Financial Times
The Fed is done cutting until something changes
Plus, the falling dollar
FTAV’s further reading
Dollarisation; the high street; trade disintegration; trust; Bluesky; growth
Deutsche Bank reports record quarterly profits
Currency and bond trading helps drive earnings at German lender
EU to impose new sanctions on Iran as France backs IRGC terror listing
Also in this newsletter: Netherlands to finally get a new government
There might be good reasons for Britain to build data centres. Job creation isn’t one of them
Estimate*estimate
Central banks rein in gold purchases as investment demand soars
Official purchases fall 20% amid historic rally and are expected to decline further this year, says World Gold Council
Japan’s market moment helps Nomura turnaround
Brokerage has cut risk and boosted profits but investors want to know performance is more than a happy accident of timing
FirstFT: Tesla accelerates AI pivot
Also in today’s newsletter: Starmer-Xi meeting and Prada’s supplier audit
India and the true cost of coal | FT Film
Coal fires India’s economy but pollution cuts lives short
Transcript: Investors love heavy metal
Marc Filippino talks to Steff Chávez and Camilla Hodgson
Who’s the real cockroach: bankers, lawyers or private equity?
Wall Street firms are pointing fingers over credit issues, with tensions boiling over at Altice USA
Transcript: Bill Gates — AI, aid cuts and the fear of speaking out
Gideon Rachman talks to Bill Gates
The abandonment of Labour’s moral crusade
The UK is taking a cynical but fruitless turn to the reactionary and insular on aid, immigration and trade
Germany plans satellite missile detection system to cut reliance on US
Berlin’s move reflects unease over depending on US capabilities to spot long-range missiles from space
The UK needs to press ahead with digital gilts plan
The move could be the catalyst that brings tokenised money more into the financial mainstream
Takaichi’s great election gamble
Japan’s first female prime minister is pulling out all the stops in presenting herself as a force for real change
Cuba has ‘15 to 20 days’ of oil left as Trump turns the screws
Crude exports to Havana are drying up, according to Kpler, amid US blockade of Venezuela and pressure on Mexico
Europe would lose more than the US in a trade war, research finds
Aston University study highlights the economic risks to the EU and UK of matching Donald Trump’s tariff threats
Prada cuts ties with over 200 suppliers after labour abuse audit
Italian label has been investigating since 2020 as allegations of worker exploitation plague luxury industry
Zach Bryan and the American curse of the supersized album
The singer-songwriter is part of a trend of bloated releases in the streaming age — and his poetic streak suffers as a result
Companies to be urged to bypass ‘fit note’ system with health plans for sick staff
Initiative aims to create national standards of support that help employees and reduce long-term absence