The (not-so) big Burnham bonds beef
Britain’s ‘King in the North’ rattles markets a very tiny little bit
EU picks up pieces of transatlantic relationship after Trump rollercoaster
Also in the newsletter: How Bulgaria’s president tendered his resignation to enter the political fray
US regulator steps up bid to serve summons to Indian billionaire Adani
SEC tries to move bribery case forward after India’s government refused to formally notify tycoon of charges
FirstFT: Trump’s tariff ‘shock regime’ tests Wall Street’s mettle
Also in today’s newsletter: Trump sues JPMorgan, and Ledger plots $4bn US listing
Six films to watch this week
‘No Other Choice’ is a biting black comedy from South Korea’s Park Chan-wook; Paul Mescal and Josh O’Connor play same-sex lovers in ‘The History of Sound’; Irish football farce ‘Saipan’ pits Steve Coogan’s team manager against his own captain; Timur Bekmambetov’s ‘Mercy’ posits a near-future of tria
Trump and Fink take over Davos
The annual meeting themed ‘a spirit of dialogue’ was dominated by the US president’s attendance
Trump’s tariff ‘shock regime’ tests Wall Street’s mettle
US president backed off his threat of new duties on European economies after market tumult
‘Waiting for the king’: how Trump dominated Davos
Elite business forum draws record attendance but US president’s foreign policy fuels tension and walkouts
Revolut scraps US merger plans in favour of push for standalone licence
UK-headquartered fintech had hoped to secure a banking charter through buying an American lender
Do your retirement goals suffer from money illusion? Mine did
Focusing on the number doesn’t take inflation into account
Is liberal democracy in terminal decline?
The old system worked under a set of conditions that are no longer present
Crypto security company Ledger plots $4bn New York listing
French group enjoys record year as more investors seek protection from hacking
German prosecutors probe €460mn precious metals fraud case
Sixteen current and former Heraeus employees under investigation over claims it unlawfully retained material owned by customers
‘I am just so tired of Trump’: Greenland on alert as US hovers
Anxiety and patriotism swirl as details of a ‘future deal’ touted by Donald Trump trickle out
Steve Coogan gives mismanagement masterclass in Irish football farce Saipan
The pre-World Cup clashes between coach Mick McCarthy and hotheaded captain Roy Keane in 2002 revisited
Netflix says Paramount bid ‘doesn’t pass sniff test’ as Warner battle intensifies
Co-chief Greg Peters says Netflix is winning Warner Bros shareholder support for a deal that would upend Hollywood
China’s fear of ‘selling young crops’ spurred review of Meta’s Manus deal
Senior leadership ordered assessment of whether purchase risks losing cutting-edge technology
Paul Mescal and Josh O’Connor love tenderly in muffled romance The History of Sound
Two men in 1910s America bond over a passion for folk songs in Oliver Hermanus’s moody concerto of wintry glumness
Lessons for business in Trumpian uncertainty
Ignoring the upside can be as dangerous as discounting the downside
AI isn’t to blame for rising US electricity bills — but it soon will be
Forecast capacity needs are rising, perhaps by a tenth over the next three years
KKR-backed Accell’s lenders brace for second restructuring
Acquisition of bikemaker behind Raleigh and Babboe has been a disastrous investment for US buyout group
EU green rules fail to boost funds’ ESG credentials, research finds
SFDR also did not boost flows to more sustainable funds, say academics
The twin ‘factories’ spurring global growth are both at risk
Sustainability of the AI-driven investment boom and China’s export machine are uncertain
Big US gas producers are methane super emitters, environmental groups’ data shows
EQT, Expand and Berkshire Hathaway Energy identified by air surveillance of their emissions