China still targeting US-based researchers for ‘malign’ purposes, lawmakers warned

China is still trying to recruit US-based researchers despite years of heightened scrutiny, members of Congress were told on Thursday at a hearing where multiple science agencies warned that tighter security measures must go hand in hand with efforts to retain foreign talent. “Just in the past week, I have received three emails that were forwarded to me from researchers in the community who had been approached for recruitment by Chinese malign foreign talent recruitment programmes,” said Rebecca Keiser, acting chief of staff of the National Science Foundation (NSF). “The…

EU turns to joint debt for Ukraine after botching Russian asset loan

This article is an on-site version of our Europe Express newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday and fortnightly on Saturday morning. Standard subscribers can upgrade to Premium here, or explore all FT newsletters Good morning. Today we explain why — and how — the EU will loan Ukraine €90bn borrowed against the bloc’s budget, and why Germany’s environment agency is downplaying the impact of the EU diluting its combustion engine phaseout. Have a great weekend, and a wonderful winter break. We will…

Sony buys Snoopy

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sony is taking a majority stake in the brand behind the Snoopy and Charlie Brown characters, handing the Japanese group control of a beloved US cartoon as it seeks to build out global entertainment franchises. The company said on Friday that it would buy 41 per cent of Peanuts Holding, which owns the intellectual property created by cartoonist Charles Schulz, from Canada’s WildBrain for C$630mn (US$460mn). The deal raises Sony’s…

China cuts US Treasury holdings to lowest level since 2008 amid debt ceiling fears

China reduced its US Treasury holdings in October to its lowest level in 17 years, as mounting concerns over US debt sustainability and the Federal Reserve’s independence further eroded confidence in dollar-backed assets. The country’s stockpile fell to US$688.7 billion in October, down from US$700.5 billion in September, according to US Treasury Department data released on Thursday. October’s figure was the lowest level reported since November 2008, and marked a plunge of more than 47 per cent from the nearly US$1.32 trillion peak reached in November 2013, according to Chinese…

China’s heat pump tech, Tokyo clarifies Taiwan stance to Beijing: SCMP’s 7 highlights

We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. China’s ultra-hot heat pump breakthrough paves way for melting ore with sunlight For over a century, the dream of efficiently concentrating low-grade heat into high-temperature industrial energy has been constrained by a stubborn ceiling: 200 degrees Celsius (392 degrees Fahrenheit). Now, a team from China…

Japan raises interest rates to highest level in 30 years

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Bank of Japan has raised short-term interest rates to the highest level in 30 years, as rising prices transform an economy that spent decades mired in deflation. In a statement on Friday, the BoJ said it was raising its policy rate by 0.25 percentage points to “around 0.75 per cent”.  The rate increase was the fourth since governor Kazuo Ueda took the helm of the central bank in 2023.…

China urged to win ‘hearts and minds’ to fill global leadership void as US retreats

As the United States undergoes a strategic shift in its global priorities, experts in China are pushing Beijing’s vision for a new world order – but they say the country must improve its messaging. Leading political scientist and government adviser Zheng Yongnian said China had two guiding principles: maintaining its agency while engaging with the world; and extending the ladder it climbed to help other nations ascend. Zheng made the remarks on Tuesday at the International Forum on Mutual Learning Among Civilisations, hosted by the Macau government. Advertisement In an…

India’s parliament clears full foreign ownership in insurance

This article is an on-site version of the India Business Briefing newsletter. To receive it in your inbox regularly, sign up if you’re a premium subscriber, or upgrade your subscription here. Good morning. The IPO frenzy is continuing right till the end of the year. Meesho’s shares have almost doubled since the online retailer listed on the exchanges last week. Tomorrow is another big one: ICICI Prudential’s $1.2bn share sale, which received $33bn in bids, will debut in the markets. In today’s newsletter, as we wind down towards the end of…