EU to give €90bn loan to Ukraine
Money to be borrowed against bloc’s shared budget after plan to draw on Russian frozen assets collapses
India’s parliament clears full foreign ownership in insurance
Also in this newsletter: best of Buzzer Round
China boosts AI chip output by upgrading older ASML machines
Restricted chipmaking tools are being retrofitted to make advanced AI chips, exposing cracks in US-led export controls
Trump to be added to name of Washington’s Kennedy Center
Performing arts centre’s board votes to rename events hub
TikTok signs deal to create US joint venture
Oracle, Silver Lake and MGX will be investors in new unit as part of deal arranged by Trump administration
EU discusses using frozen Russian assets to fund Ukraine war effort
‘So we’re counting on the EU to launder some Russian assets for us’
Over-50s should work for longer to ease pressures of ageing society, say Lords
Falling fertility rates and rising life expectancy will pose ‘significant economic and fiscal challenges’
Oh, Mary! turns US history into a ridiculously funny melodrama
Cole Escola’s play at London’s Trafalgar Theatre brings crazed comic energy to the life of Mary Todd Lincoln, wife of Abraham
FT Crossword: Number 18,243
Nike shares fall sharply as weak China sales dent faith in turnaround
CEO of sports shoe and apparel maker acknowledges need for a ‘reset’ in the country as it also navigates Trump tariffs
Flawed inflation data dashes Trump’s hopes of a quick affordability victory
White House hails figures showing cooling price growth but Wall Street says report was ‘a mess’
Brussels delays signing of EU-Mercosur trade deal until January
Move comes after Italian premier Giorgia Meloni pleads for more time from Brazilian President Luiz Inácio Lula da Silva
Marijuana stocks tumble as Trump reclassifies drug but fails to legalise it
US president’s order would categorise cannabis as less dangerous and remove it from grouping with heroin and LSD
FirstFT: US approves $11bn arms package for Taiwan
Also in today’s newsletter: Australia unveils new hate speech legislation, and economists warn of flaws in US inflation report
Bill Gates and Sergey Brin among newly released Epstein photos
US congressional Democrats publish another batch of images from late sex offender’s estate
Economists warn of flaws in US inflation report
Concerns that November figures showing fall to 2.7% distorted by missing data after shutdown
Three numbers that matter
What can we learn from new figures about jobs, inflation and leverage?
Former Tory donor hit with UK sanctions over alleged Russian energy role
Murtaza Lakhani is the highest-profile oil trader to have been targeted by western sanctions since 2022
Jefferies’ 2025 in review
A year of two halves, and a one-fifth drop
Farage avoids police probe into election spending
Essex force says complaint about alleged offence was made too late for an investigation to proceed
Trump family deal with fusion energy firm adds to complicated UK-US ties
TAE Technologies has already agreed joint venture with UK government’s atomic laboratory
US regulator loosens some compliance burdens for Citigroup
Move may be a sign Wall Street bank has made progress in correcting compliance mis-steps of recent years
Latin America swings to the right
Crime and violence are raising the appeal of strongmen across the region
How BP’s ‘sharp-elbowed’ chair lost patience with its chief executive
CEO Murray Auchincloss clashed repeatedly with Albert Manifold over strategy before his abrupt departure