International - Financial Times - Credit Squeeze

Brussels had previously long defended principle that members must treat one another equally

We must question whether the ‘most favoured nation’ principle remains fit for purpose

Bank of England expects pick-up to be temporary

Bank strategist published note suggesting European investors could sell US assets in response to trade threats

Also in today’s newsletter: Netflix ‘confident’ of buying Warner Bros Discovery and US Supreme Court hears arguments in Lisa Cook case

Airfares and tobacco inflation artificially push headline figure higher

Plus the sustainability of the small-cap rally

Also in this newsletter: Europe replaces one gas dependency for another

Signature of ‘prosperity plan’ expected at Davos has been postponed amid transatlantic rift

Organisation’s executives including chair Larry Fink discuss future of annual shindig for political and business elites

While the US president fires off social media posts increasing tariffs, the bloc has to overcome political divisions to retaliate

As both sides scramble to source vital parts, some experts are convinced Russian buyers are being favoured by Beijing

Canadian leader calls on ‘middle powers’ to unite as Davos braces for US president’s arrival

European leaders criticise stance on Arctic island, with French president taking aim at ‘useless aggressivity’

Chancellor defends UK decision not to threaten retaliation over Greenland dispute

Capitalism has a new sheriff in town

Attack on Fed independence and threat to seize Greenland create ‘substantial risks’, says Andrew Bailey

The US is no longer predictable nor bound by any fundamental principles of action

Alexander Stubb on the possible scenarios facing the Arctic island

Though the Bulgarian lev was already pegged to the euro, the country had much to gain by joining the currency union