Donald Trump’s war with Federal Reserve threatens lasting damage to Treasuries

Donald Trump’s war of words with Jay Powell is likely to do lasting damage to the $29tn Treasury market, even after the US president backpedalled on his apparent threat to fire the Federal Reserve chair, big investors have warned. Trump this week said he had “no intention” of firing Powell, but reiterated his complaint that … Read more

‘Pure-play’ bitcoin never looked so impure

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Times may feel a bit febrile, but at least we’re getting some wonderful structural diagrams. From MainFT’s Antoine Gara and Oliver Barnes yesterday: Brandon Lutnick, son of US commerce secretary Howard Lutnick, is partnering with … Read more

Private equity in the time of Trump

This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters Good morning. Treasury secretary Scott Bessent made dovish noises about China trade. President Donald Trump said he had no intention … Read more

How critical minerals became a flash point in US-China trade war

Donald Trump’s trade war with China has intensified the battle to control the market for critical minerals that are essential in products ranging from electric vehicles to iPhones and military hardware — and underscored Beijing’s dominant position in it. China’s response to the US president’s punitive tariffs was to introduce controls on the export of … Read more

Chinese robotaxi operator Pony.ai considers other exchanges as US delisting fears grow

Stay informed with free updates Simply sign up to the Technology sector myFT Digest — delivered directly to your inbox. Robotaxi company Pony.ai is considering a secondary listing less than six months after its US IPO, amid mounting concern that Donald Trump’s administration will pursue delistings of Chinese companies. “It’s nothing concrete yet, but definitely … Read more

Revolut profits surge above £1bn on crypto trading boom

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Revolut more than doubled its profits to £1bn last year, as Europe’s most valuable start-up surpassed 50mn customers and benefited from a surge in cryptocurrency trading. In an annual report published on Thursday, Revolut said … Read more