International - Financial Times - Credit Squeeze

It’s not as simple as blaming the unravelling of the global trading system

Also in today’s newsletter, the battle for control of Warner Bros Discovery, and the year’s best fiction

‘It’s bleak,’ says senior European diplomat involved in preparations for summit

Hit by high EV tariffs, Chinese auto groups have pivoted to selling cheaper, technologically advanced vehicles

Turkey and Australia reach compromise over COP31 arrangements after a year-long drama

Chinese policymakers are finally getting serious about boosting consumption

Minutes from US central bank’s October meeting point to schism on direction of monetary policy

Many participants at the rate-setting meeting saw growing upside risks to prices, with only a few disagreeing

Figure strengthens case for Bank of England rate cut next month

Mining group MP Materials will share minority stake in joint venture with US government to build and operate facility

Stand-off had threatened global carmaker supply chains

Trade emerges as a flashpoint at UN climate summit

Drop comes ahead of expected tax raid on high-value properties in Budget

Headline inflation fell to 3.6% as expected

Also in today’s newsletter, Congress votes by 427-1 to release files linked to Jeffrey Epstein and the rise of ‘The Donroe Doctrine’

EU industry chief says bloc is becoming ‘collateral damage’ in race to secure rare earth minerals

Martin Wolf selects his must-read titles

How should Farida navigate uncertainty around President Trump’s levies? Tackle the questions raised at the end

US president gives lavish welcome to Mohammed bin Salman at start of high-profile visit to Washington

Changes that only have a one-off effect on inflation will not change monetary policy, warns chief economist