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What economists got wrong in 2025

Welcome back. As this is my last edition before the new year, it seems a fitting moment to look back

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Europe’s rocky relations with Donald Trump

Gideon talks to Jens Stoltenberg, Nato's former secretary-general, about Ukraine and Europe's strategic priorities after recent scathing criticism from US

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Is Europe prepared for war?

For countries on Europe’s easternmost flank, Russia is a present and looming threat — and

Eurozone inflation rises to ECB’s 2% target

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories

Standard Chartered hit with $2.7bn lawsuit over 1MDB scandal

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories

Japan digs in on rice and cars as trade talks with US stall

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means

Donald Trump suggests US government review subsidies to Elon Musk’s companies

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means

India seeks to seal interim trade deal with US this week

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means

US narrows trade focus to secure deals before Donald Trump’s tariff deadline

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means

Private equity’s big tax perk is the one that got away — again

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means

Hong Kong’s bull market leaves China behind

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories

When will Congress pass Donald Trump’s ‘big, beautiful bill’?

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means

Donald Trump lifts most US sanctions on Syria

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means

Late tweaks to Trump tax bill create green power winners and losers

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means

Oracle shares hit record high on $30bn cloud contract

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories

Senate races to pass Donald Trump’s flagship tax bill as deadline looms

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means

Trump administration says Harvard violated US civil rights law

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means