FirstFT: Trump warns Iran to ‘show humanity’ or face ‘very strong action’
Also in today’s newsletter: US bill on military annexation and China’s $1.2tn trade surplus
Hong Kong activist investor David Webb dies
Champion for corporate governance reform campaigned to improve transparency in financial hub’s markets
Prudential names Douglas Flint as chair
The former HSBC executive will succeed Shriti Vadera
China blames US for trade imbalances as surplus hits record $1.2tn in 2025
Exports soar as world’s second-largest economy shakes off Trump tariff threat
Sports Exchange
This series features insights from some of the most influential figures in sports ownership and leadership. In this instalment, Adam Kelly, head of IMG, explains why rights to live sports are turning into media’s central battleground
Transcript: London VC’s bet on Revolut pays off
Marc Filippino talks to Martha Muir and Ivan Levingston
The London investor making billions from Revolut
The VC firm Balderton Capital is cashing in on its home-run bet on the fintech
How should you talk to someone you disagree with?
In a polarised world, thoughtful reframing on hot-button issues could be key to reaching across divides
The Maga war on European democracy
America’s national security strategy projects internal fears abroad
City to fight disinformation that undermines London on world stage
Government, police and cyber experts point to surge in social media posts spreading fake narratives about safety
Art auctions rely on debt, divorce and death — can the latter keep the market moving?
Record-breaking estate sales mask the real, and sometimes declining, value of art
Ermotti’s UBS legacy leaves space for a third act
Why would someone like the Swiss banker step away just when things are about to get fun?
Crispin Odey to make hedge fund dormant
Odey Asset Management plans to ‘cease trading activities’ follows founder’s fall from grace over sexual misconduct claims
Why life really is cheaper after you retire
It can be scary without a salary, but savings made in retirement can mount up
Coca-Cola scraps Costa Coffee sale after bids fall short
Coke had been seeking about £2bn after paying £3.9bn for UK coffee chain in 2018
Inside the US justice department’s probe of Jay Powell
Investigation into Federal Reserve chair’s testimony raises questions around the independence of the country’s judicial arm
Earth to breach 1.5C warming a decade early, scientists say
EU’s Copernicus observation service sees temperatures passing Paris goal by 2030
Do I really need life insurance?
I’m young, single and live a healthy lifestyle
McKinsey challenges graduates to use AI chatbot in recruitment overhaul
Candidates in pilot assessed on how they prompted consulting firm’s AI assistant and ability to adapt responses
Recipe: This sausage and lentil recipe is easy, frugal — and exciting
A zippy horseradish salsa brings Ben Lippett’s winter dinner to life
Wall Street groups hire traders to wade into prediction markets
Big financial companies expand beyond traditional securities to arbitrage event contracts in sport and politics
EVs central to carmakers’ Europe strategy despite petrol ban easing
Benefits of EU’s proposed rule changes are limited and too costly, say industry executives
‘Welcome to hell’: Venezuela’s most notorious torture chamber
Families call for release of political prisoners at the brutal El Helicoide jail
How Iran switched off the internet — and Iranians fought back
Tehran went from ‘halal internet’ to near-total blackout but activists have smuggled in Starlink devices to get information out