Trump’s cuts in foreign aid and global tariffs have created opportunity for Beijing

Legislation would erode the appeal of US financial assets, banks and investors say

Trump family’s enthusiasm for digital assets creates a glaring conflict of interest

Without its own industry, the continent will be forced to depend on foreign firms that could cut off supplies

Also in today’s newsletter, US says it will ‘aggressively’ revoke Chinese student visas

Finance minister tells FT the kingdom’s priority is to avoid long-running ‘trap of booms and busts’

Acróstica? We hardly even…

Encouraging banks to buy Treasuries has downsides

‘This is a sensitive trade-off that has not always been well managed in the banking industry’

Trump’s election helped revive loans that once threatened to hit banks with big losses

The US president is a crypto booster — and the faithful went to America’s gambling capital to celebrate

In a number of key markets, investors are losing patience with governments still wanting to borrow like there’s no tomorrow

New standard threatens a vital funding source for sovereigns and corporates across the Middle East, Asia and beyond

Wise now has an £11.2bn market capitalisation — and a grown-up business model to go with it

Chancellor hopes plan to establish ‘megafunds’, circumscribed by binding allocation targets, will drive returns for savers

Peso-denominated sovereign bond offered in dollars will increase country’s foreign currency reserves

FOMC minutes showed officials worried about ‘long-lasting’ effect of market turmoil after Donald Trump launched trade war

US vice-president promises ‘pro-innovation’ regulatory agenda in speech at Las Vegas conference

Fast-fashion group has been hit by US tariffs while flotation has also faced regulatory challenges over risk factors

Sharp climb in Tokyo’s bond yields has potential to push up borrowing costs elsewhere