Iran says it will not negotiate with US on ballistic missiles
Foreign minister says Tehran is ready for nuclear talks after Trump sent ‘armada’ to region
Luigi Mangione will not face death penalty, US judge rules
Firearms charge that could have led to capital punishment is dismissed in case against man accused of killing UnitedHealth chief
Italian far-right activists push for ‘remigration’ law
Extremist groups launch petition that would force parliament to debate law on mass deportations
Trump nominates Kevin Warsh as Federal Reserve chair
President’s decision on successor to Jay Powell comes at pivotal moment for world’s most important central bank
Trafigura wins $500mn fake nickel fraud case against Prateek Gupta
Long-running legal dispute began in 2023 after Swiss trading house discovered fake nickel cargoes
Chinese whispers - at home and abroad
Starmer and Xi talk ties and trade while leadership challengers plot and plan in Westminster
Eurozone economy unexpectedly grows by 0.3% in fourth quarter
Bloc’s performance in the face of geopolitical and trade tensions has surprised policymakers
Wall Street analysts weigh Warsh
High stakes; hot takes; no breaks
Chinese whispers - at home and abroad
Starmer and Xi talk ties and trade while leadership challengers plot and plan in Westminster
Gold and silver prices plunge as rally goes into reverse
Platinum and copper also fall as Trump picks Warsh as next Fed chair
For UK growth, look to the Andys
Burnham and Street have a keen understanding of the value of empowering local people and places
Panama court kicks Hong Kong’s CK Hutchison out of canal ports
Ruling comes after Donald Trump’s vow to ‘take back control’ of shipping lane and reassert US influence in region
First Brands financier Raistone prepares wind-down
Firm was heavily dependent on fees earned from deals for bankrupt auto-parts supplier
How many cups of coffee does Starbucks’ Brian Niccol need to sell?
Chain’s challenge will be to raise per-store sales to catch up with its new cost structure
Stanley Druckenmiller says Kevin Warsh is not a permanent policy ‘hawk’
Fed chair nominee ‘believes you can have growth without inflation’, according to his longtime mentor
What’s up with Scott Bessent?
The US Treasury secretary is not just a loyalist — he is Trump’s political attack dog
Inflation and interest rates tracker: see how your country compares
Inflationary pressures are beginning to wane. Explore the latest data through interactive charts
Kevin Warsh, the Fed chair nominee shaped by the 2008 financial crisis
Trump’s pick will take the reins of the world’s top central bank during one of the most consequential periods in its history
Arise, shadow Fed chair Stan Druckenmiller
The ascent of Druckonomics
Zelenskyy blames European states for Ukraine air defence gaps
Delayed western payments keep country’s air defences ‘simply empty’ allowing Russia to knock out power, says president
What FT commentators think of the Fed pick
The implications of Trump’s choice for markets and economies
Kevin Warsh is the presumptive Fed chair
The economist is seen as an independent voice, raising the chances of future tussles with Donald Trump
The best books of the week
Why the global economic order is spiralling out of control; a history of Syria tackles the nation’s complexities; working-class life in Charlie Chaplin’s London; masterly autofiction from Pirkko Saisio; a Jeremy Cooper novel set among classical musicians; the sinister legacy of the Marquis de Morès;
Kevin Warsh will pivot Fed to conviction economics
Trump’s choice of chair will shift from Powell’s data-dependent approach to policy