BUSINESS
Lessons for business in Trumpian uncertainty
Ignoring the upside can be as dangerous as discounting the downside
MARKETS
Emerging markets are a better gauge of investors’ mood than gold
US moves on Greenland may have boosted traditional havens such as precious metals but the developing world is on a roll
WORLD
The great Greenland climbdown
After a rambling speech, Trump announced he would not be imposing tariffs on his allies
BUSINESS
Tariffs and the US Supreme Court: Watch what happens next
Plus the sustainability of the small-cap rally
BUSINESS
Trump’s Arctic ambitions torch the most important US asset
The market reaction to the threat of tariffs on supposed allies over Greenland has been extremely telling
BUSINESS
The dangerous triumph of neo-mercantilism
Liberal trade policies are giving way to frictions that could lead to outright conflict
BUSINESS
Fiscal threats lurk in the undergrowth for Japan
The country is the darling of investors, but that could change
BUSINESS
Why the world has started stockpiling food again
Governments are hoarding rice and grain as insurance against a world they increasingly view as unstable. But many economists believe it could be counter-productive
BUSINESS
Do markets care about Fed independence?
They will eventually
BUSINESS
Eight tail risks for 2026
Wars, chatbots and bond vigilantism could rock markets this year
WORLD
China’s AI chip dragons’ firepower is mostly mythical
The three newly listed makers of semiconductors are lossmaking, ad none has sales worth more than a tenth of their bigger rival
BUSINESS
How to AI-proof your job
The data suggests soft skills more than quantitative competency equal success in a rapidly changing labour market
BUSINESS
How Donald Trump could take control of Greenland
US president wants to take the vast Arctic territory from Denmark. What could he really do?
BUSINESS
China’s influence in US backyard tested by Nicolás Maduro’s downfall
Oil-rich Venezuela has been a springboard for Beijing’s geopolitical and economic interests in Latin America
BUSINESS
Why China is doubling down on its export-led growth model
The country plans to reinforce its dominance of global manufacturing, despite persistent deflation at home and rising tensions abroad
BUSINESS
Forecasting the world in 2026
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
WORLD
Year in a word: ‘Peace’
Despite ceaseless Trumpian talk of ending the world’s wars, it’s not quite that easy
BUSINESS
Delivery start-ups finally get the K-shaped economy they need
Now could be the ideal environment for a service pandering to wealthy urbanites and in need of gig workers
BUSINESS
The AI boom is not a bubble
Valuations may be spectacular and a bust could come — but while there’s exuberance there is no mania or irrationality
BUSINESS
AI upheaval shows little sign of lessening
If the boom continues its blistering pace through 2026, the stresses could start to show
BUSINESS
Tech groups shift $120 billion of AI data centre debt off balance sheets
Creative financing helps insulate Big Tech while binding Wall Street to a future boom or bust
ARTIFICIAL-INTELLIGENCE
America’s risky bet on hydrocarbons might hurt it in the AI race
US strategy could be costly in terms of higher electricity prices, increased water stress and potential food insecurity
BUSINESS
Apollo cuts risk, stockpiles cash in preparation for market turmoil
Marc Rowan tells investors firm is positioning itself for when ‘something bad happens’
BUSINESS
Prediction markets and the casino mentality of 2025
Financial gamification has upended traditional patterns of trust and oversight
