Gold rises and dollar slides as global trade faces new Trump tariff threat
US president imposes 15% duty after Supreme Court strikes down previous policy
Labour can no longer rely on the ‘ethnic minority vote’
Foreign policy, home country politics and differing economic instincts fracture voter priorities
Johnson Matthey slashes price on sale of key unit to Honeywell
FTSE 250 company will sell catalyst technologies business to US conglomerate for £1.3bn instead of £1.8bn
Private credit has a structural problem
Plus, tariff uncertainly gets worse
FTAV’s further reading
Private markets; SRTs; margin; USTs; Miran; AI & retail traders; governance; making things; military intelligence; Klæbo; ICE; English
IB DP Theory of knowledge class
Read a selection of FT articles picked by our panel of school advisers
School IB TOK class: When psychologists mislead us
Human sciences
EU weighs delaying US trade deal ratification amid ‘tariff chaos’
Also in this newsletter: France reprimands US for wading into national politics
Schroders will keep wealth manager Cazenove
Plus, Saba’s offer for Blue Owl funds, European inflows soar and Seurat at the Courtauld
Does Europe need more private credit?
Maybe it does, maybe it doesn’t. We’re just happy to see the data.
FirstFT: Iran and Russia’s secret missile deal
Also in today’s newsletter: US banks’ bumper profits and Lagarde’s BIS pay
The best of TV and streaming this week
‘The Tony Blair Story’ gives the ex-PM a grilling; ‘Inside America’s Next Top Model’ revisits the reality TV contest; ‘The Museum of Innocence’ adapts Orhan Pamuk’s novel — plus ‘How to Get to Heaven from Belfast’, ‘Love Story’ and spy thriller ‘Betrayal’. Reviews by Rebecca Nicholson
Private equity logjam hits record as firms struggle to sell
Value of companies sitting in buyout funds reached $3.8tn last year, according to Bain & Company
Transcript: The fallout of Trump’s tariff setback at the Supreme Court
Victoria Craig talks to Peter Foster, Myles McCormick and Joshua Franklin
Is the sale of Schroders really so bad for the City?
iShares’ sale to BlackRock holds lessons for the UK
Fuel shortage threatens US nuclear resurgence, warns top supplier
Centrus Energy says rising demand and ban on Russian imports risks uranium enrichment ‘supply gap’
F&G sells life reinsurer to create company led by Blackstone veteran
Ancient Financial enters crowded market to manage assets for US retirees
William Hague: Britons in their 60s are the ‘luckiest generation’ in history
Oxford university chancellor calls for ‘national conversation’ around young people facing high student debt and living costs
Ways to save liberal democracy — the pick of the latest political books
A welcome shot of serious thought about populism, a bold argument for citizen rule, Gordon Brown revisited — and a work by Cass Sunstein that all politicians should digest
Rolls-Royce urges UK to commit to subsidies for £3bn engine project
FTSE 100 group looking to secure commitment in first half of the year as it steps up plans to re-enter narrow-body market
‘I’m selling my taste, my style.’ Robert Stilin sets up shop in New York
An exclusive look at the interiors guru’s new gallery
US banks enjoyed record profits of $300bn in 2025
Lenders have prospered under Trump as they pay lower rates of interest to savers and write more loans
Schroders chief vows to keep wealth manager Cazenove after £9.9bn takeover
Richard Oldfield says there is ‘no reason to think’ the business will be sold after deal with US fund manager Nuveen
Gold enters the storybook stage
Its price is now far above levels suggested by fundamental forces, but it’s hard to see what might stop its ascent