South Korea weighs Hormuz deployment as US pressure mounts
Seoul has faced calls from President Donald Trump to contribute to Middle East security
Top Reform UK advisers step down after donor sting
James Orr and Dan Jukes leave roles pending outcome of party’s investigation
Paul Smith at 80
Gary Oldman, Samantha Morton, Sheku Kanneh-Mason and others celebrate the legendary British designer in a landmark year
22 ways to wear polka dots
Because the smoothest operators never change their spots
Reform looks ridiculous
Accusations of racism and corruption threaten party’s image as a serious prospect for power
Air India set for $1bn cash boost amid Singapore opposition over capital calls
Singaporean MP criticises further support for lossmaking carrier via Temasek’s Singapore Airlines
What are the new allegations against Farage’s Reform?
A sting operation has abruptly overturned the leader’s attempt to put financing scandals behind him
Giorgia Meloni celebrates Italy’s longest-serving government since 1945
Rightwing prime minister has so far defied critics with pragmatic policies and stable coalition
More stock ownership, weaker monetary policy?
A counterintuitive quirk
Europe struggling to re-arm by 2030 as capitals squander arms spending surge
Also in this newsletter: The beef between Brazil and Brussels
FTAV’s further reading
Fake journalists; Reform UK; Chipotle; Mr T; “invisible” businesses; art heists; the LA Clippers; and venture capital
FirstFT: UK-EU alignment a ‘problem’ for US
Also in today’s newsletter: Farage sting and latest OpenAI model
Luckin Coffee killed our lunch spot. Here’s what that says about geopolitics
Half a decade on from a fraud scandal, the Chinese chain is thriving in New York City — and pushing out the locals
Transcript: Memory chip mania isn’t going away, with Dan Kim
Soumaya Keynes speaks to Dan Kim, chief strategy officer at TechInsights
China lashes back at US over G20 row ahead of Xi-Trump summit
Beijing says Trump’s tariffs and Iran war energy crisis are damaging to global economy
The $275mn question from Guggenheim’s auditor
KPMG warned the asset manager about weak controls within its business last year
Transcript: Top US trade official reveals ‘problem’ in UK negotiations
Sonja Hutson talks to Aime Williams, Richard Waters and Judith Evans
UK is failing to capitalise on Brexit, says top Trump trade official
Jamieson Greer says Britain’s alignment with EU is a ‘problem’ for a US trade deal
Deutsche Bank led $1bn of troubled lending to Hollywood studio landlord
German lender enabled debt-fuelled expansion of Hackman Capital Partners’ property empire
The university degree is losing its lustre
Technological and economic shifts are eroding the graduate premium
Spain pushes for EU oil and gas tax to pay for climate change response
Rising extreme weather costs fuel campaign ahead of new resilience strategy
Manager of Norway’s $2tn oil fund proposes slashing US Treasury holdings
Overhaul of bond positions suggested to Ministry of Finance aims to boost returns
Why the US and Iran keep escalating
As Trump hardens his stance over negotiations, Tehran remains determined to keep the Strait of Hormuz closed
Anthropic’s IPO set to test external trust with power over board
Public-market scrutiny will intensify pressure on the Claude maker’s unusual attempt to balance profit and purpose