China extended its support to Venezuela and opposed “unilateral bullying” in a foreign ministers’ phone call on Wednesday amid rising US pressure on the South American country. Foreign Minister Wang Yi told his Venezuelan counterpart Yvan Gil that China and Venezuela were strategic partners and that mutual trust and support were a tradition of bilateral ties. In a veiled swipe at the US, Wang said “China opposes all forms of unilateral bullying and supports countries in safeguarding their sovereignty and national dignity”, according to a Chinese foreign ministry statement. Advertisement…
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US approves $11bn arms sale to Taiwan
Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world The US has approved an $11.1bn arms sale to Taiwan, the largest such package of its kind as Taipei comes under increasing pressure to prepare itself against the threat from China. The package, announced by the US state department on Wednesday, will include Himars rocket launchers, Howitzer artillery, drones, Javelin anti-tank missiles and other items. The sale threatens to undo a thaw in US-China relations, coming less than…
After year of shocks, EU faces crunch talks on Ukraine, China and its economic future
Late last year, as European Commission President Ursula von der Leyen began her second term in office, a giant purple banner was draped over the side of the EU executive arm’s headquarters, declaring: “United for our Future, 2024-2029.” Its leaders will gather on Thursday to try to round off the year with a collective bang, but there is growing fear it will end with a series of disparate whimpers. Advertisement European Commission President Ursula von der Leyen speaks during a debate on the bloc’s position on a proposed peace plan…
Australia to tighten hate speech laws after Bondi attack
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Australia has unveiled sweeping new hate speech legislation in the wake of the terror attack on Bondi Beach, strengthening authorities’ hand in combating antisemitism and extremism. Prime Minister Anthony Albanese on Thursday announced the measures, which would raise penalties for hate speech and are aimed at prosecuting preachers and leaders of groups that promote violence. The measures would also make it easier for Australia to cancel or refuse visas to…
India’s central bank governor cheers ‘goldilocks’ economy
BP chief executive Murray Auchincloss has said he will step down after less than two years in the role, India’s central bank governor expects the country’s interest rates to remain low for a ‘long period’, and UK inflation fell more than expected to an eight-month low of 3.2 per cent. Plus, global companies are seeking private equity partners in China to take on their local operations as they grapple with an increasingly competitive local market. Mentioned in this podcast: BP picks Woodside boss Meg O’Neill as new chief executive India’s…
China’s jobless rate for young people eases to 16.9% as graduates settle for less
China’s youth-unemployment rate ticked lower in November, though competition remains fierce for university graduates trying to find work that matches their qualifications. The jobless rate for those aged 16 to 24, excluding students, fell to 16.9 per cent in November from 17.3 per cent in October, according to data released by the National Bureau of Statistics on Thursday. Advertisement The job market, weighed down by deflationary pressure and external risks, remains plagued by a mismatch between skills and vacancies, pushing many graduates to settle for blue-collar jobs or gig work.…
China offers ‘wonderful opportunity’ for scientists, leading European neurologist says
China is emerging as a rising powerhouse for scientific innovation at a time when scientific research in the United States faces growing funding instability, according to Belgian neurologist Steven Laureys. “There’s a wonderful opportunity for me to work with China. And I’m very happy that China is investing in science in these challenging times with [Donald] Trump, because I’m also an invited professor at Harvard. It’s good to see that we benefit from funding there,” he said. Advertisement “That’s the power of China – to have this political organisation where,…
Trump gives himself high marks in 2025 report card, with his eyes on 2026 fight
US President Donald Trump addressed the nation on Wednesday, highlighting what he described as his administration’s achievements in 2025 and promising to build on his “Make America Great Again” agenda in the next year. In a defiant 18-minute address from the White House, Trump awarded his administration straight A’s for what he hailed as a year of unprecedented American greatness. “We are making America great again tonight, after 11 months, our border is secure. Inflation has stopped. Wages are up, prices are down. Our nation is strong. America is respected,…
Japan’s $580bn hidden asset? In the back of the cupboard
For individuals Discover all the plans currently available in your country For multiple readers Digital access for organisations. Includes exclusive features and content. Financial Times
China’s military calls for tip-offs as it targets corruption in air force procurement
The People’s Liberation Army has made a rare public appeal for tip-offs about procurement problems in its air force, as Beijing presses ahead with its anti-corruption campaign in the military. The announcement was posted on Monday on the PLA’s official procurement website – the main bid information platform for suppliers – seeking information about “irregular” procurement activities organised by air force units. It is the first time such a request has been made about a specific branch of the military, which comprises the ground force, navy, air force and rocket…