International - Financial Times - Credit Squeeze

The US has fallen behind China in manufacturing but targeted import restrictions could help it catch up

There are reasons to both hope for — and doubt — that the continent could finally gain some Asian-style momentum

Prime minister vows he will stay in Number 10 even as Labour party sinks in opinion polls

FT survey shows America’s dominance in areas such as technology is not expected to reverse soon

Also in today’s newsletter: Swiss ski bar fire and luxury goods sold at discount prices

The country plans to reinforce its dominance of global manufacturing, despite persistent deflation at home and rising tensions abroad

Falling UK inflation rate and prospect of interest rate cuts mean there could be upside surprises for PM in 2026

Europe’s top central banker earns almost four times more than Fed chair Jay Powell, FT analysis shows

Rome says proposed levies of up to 92% set to be reduced after US commerce department review

More countries are buying directly from artisanal miners as trafficking robs them of tax revenues and foreign exchange

Growing output is expected to give struggling north African economy a welcome boost

Manufacturers and analysts warn AI data centre build-out is crowding out market for semiconductors

Wall Street’s S&P 500 is up 16.5% in 2025, beating analysts’ forecasts, after markets shrugged off trade turmoil

Metals magnate Barry Zekelman says Ottawa must join Trump in protecting industry from other exporters

Leader says country’s economy, technology and defence have risen to ‘new heights’

Also in today’s newsletter: 200,000 European banking jobs at risk, and Paramount’s Warner Bros bid

Menaced by Russia and bullied by America, a potential Ukraine peace deal is not guaranteed to usher in prosperity

Levy on steel, electricity and other imports aims to shield bloc’s industry from higher-emission competitors

FT writers’ predictions for the new year, from the likelihood of higher Trump tariffs to the future of interest rates and the arrival of humanoid helpers

Foreign companies remain wary of volatile economy as libertarian president seeks crucial investment dollars