US moves to open Venezuela’s vast crude reserves to Big Oil
Treasury issues ‘general licence’ that will allow American groups to purchase and resell the South American country’s oil
International - Financial Times - Credit Squeeze
A rescue mission for the rules-based order
Europe needs to play a lead role in efforts to de-risk from Trump’s America
Why US stocks don’t care a jot about Greenland, trade wars or global aggro
It’s the economy, stupid
Don’t bet on dollar dethronement
If you want to see how entrenched the US currency is in the global system, look at the foreign exchange swap market
Is the UK on the cusp of a productivity revival?
Latest data shows tentative signs of improvement after years in the doldrums
Fed will be on hold until mid-year
Read the January forecast from the FT’s Monetary Policy Radar team
FirstFT: Tesla accelerates AI pivot
Also in today’s newsletter: copper hits record high, and Trump’s options in Iran
The Fed is done cutting until something changes
Plus, the falling dollar
Prada cuts ties with over 200 suppliers after labour abuse audit
Italian label has been investigating since 2020 as allegations of worker exploitation plague luxury industry
Europe and the UK would lose more than the US in a trade war, research finds
Aston University study highlights the economic risks to the EU and UK of matching Donald Trump’s tariff threats
Federal Reserve signals no rush to cut rates as economy powers ahead
Chair Jay Powell says robust growth and steadying jobs market show borrowing costs are not ‘restrictive’
Federal Reserve holds rates and removes dovish guidance
New statement highlights ‘solid’ economic activity and ‘signs of stabilisation’ in the labour market
Fed decision as it happened: Central bank holds interest rates steady, Powell signals no rush to loosen policy further as US economy powers ahead
Governors Christopher Waller and Stephen Miran dissented against the decision, calling for a reduction
ONS revamps UK inflation measure with supermarket scanner data
Statistics agency will use more than a billion supermarket checkout and online sales data to replace manual price collection
Termites are slowly feasting away at the foundations of the dollar’s dominance
Chomp chomp chomp
Germany cuts growth forecasts amid slow recovery
Europe’s largest economy struggles to rebound despite government’s €1tn debt-funded investment spree
What’s the cost to Mark Carney of defying The Donald?
It is not foolish to show the US president that Canada has options
Global green investment keeps growing despite China market shock
Signs of broader-based growth as renewable energy investment falls in China
FirstFT: US consumer confidence sinks
Also in today’s newsletter: SpaceX’s summer listing and Citigroup sues former employee in alleged sexual harassment case
ECB would need to act if euro keeps gaining, says Austria’s central bank governor
Martin Kocher untroubled by single currency’s current level but says further appreciation could drive down import prices
Global Economy
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