Good morning and welcome back. In today’s newsletter:
-
US says using military is among ‘options’ to acquire Greenland
-
Venezuela to turn over up to 50mn barrels of stranded crude to the US
-
UK and France have pledged to deploy troops to Ukraine
-
Prime Minister Giorgia Meloni plans to overhaul Italy’s voting system
We begin with Greenland, which the US said it was considering acquiring, including possibly by “military” means.
What to know: The Trump administration is exploring options including “utilising the US military” to gain control of the semi-autonomous Danish territory, the White House said yesterday.
“President [Donald] Trump has made it well known that acquiring Greenland is a national security priority of the United States,” White House press secretary Karoline Leavitt said.
“The president and his team are discussing a range of options to pursue this important foreign policy goal, and of course, utilising the US military is always an option at the commander-in-chief’s disposal,” she said.
Threats of action: Leavitt’s remarks come as senior Trump administration officials have expressed renewed interest in the Arctic territory, which is rich in natural resources.
Trump on Sunday evening said he could take action against a range of countries in the western hemisphere, including Colombia and Mexico, following the capture of Venezuelan strongman Nicolás Maduro over the weekend. Read the full story
Here’s what else we’re keeping tabs on today:
-
Economic data: Germany publishes November unemployment figures while the Eurozone and Italy release inflation data from December.
-
EU: Cyprus assumes the bloc’s six-month rotating presidency, with European Commission president Ursula von der Leyen and other leaders expected at an event in Nicosia.
-
France: Film star Brigitte Bardot is laid to rest in Saint-Tropez.
-
Results: Albertsons, Applied Digital Corporation, Constellation Brands and Jefferies report earnings. See a fuller list in The Week Ahead.
Five more top stories
1. Venezuelan authorities will turn over 30mn to 50mn barrels of stranded crude to the US, Trump has said, in a sign his administration is escalating its push to control the country’s oil sector. He added that the oil, worth up to $3bn, would be sold at market prices.
2. The UK and France have pledged to deploy troops and weaponry to Ukraine, as part of security guarantees supported by the US to underpin a proposed peace deal aimed at ending Russia’s almost four-year-long invasion. Read more on the plan for a European-led “deterrence” force.
3. Prime Minister Giorgia Meloni is planning to overhaul Italy’s voting system to boost her right-wing coalition’s prospects in the next elections, due in 2027. It would be the country’s fifth change to the system since the 1990s as governments have repeatedly tweaked rules in their favour.
4. European banks are in line for a €30bn boost to net interest income — a key driver of profits — over the next two years. Loan growth and hedging have helped offset the drag to profitability from lower interest rates. Simon Foy has more.
5. Exclusive: Chinese commerce ministry officials are reviewing Meta’s $2bn purchase of AI platform Manus for possible technology export-control violations. The transaction is a rare case of a US group acquiring a cutting-edge AI start-up with Chinese roots. Read details of the deal.
The Big Read
America is witnessing a nuclear revival, driven by power demand from AI data centres. Trump too has embraced atomic energy, pledging to slash regulation and invest billions of dollars to reopen and build fleets of new reactors. But many think an industry resurgence is unrealistic.
We’re also reading . . .
-
‘Resilience’ claims: The global economy is more fragile than headline numbers suggest, writes Gita Gopinath, former first deputy managing director of the IMF.
-
Prisoners in limbo: The fate of about 200 anti-Assad Syrian rebels in Lebanese jails has been the subject of negotiations between Beirut and Damascus.
-
Who pays the most UK tax?: Jonathan Guthrie dug through the data and arrived at surprising answers.
Take part in a live Ask an Expert Q&A with Roula Khalaf, Editor of the FT, tomorrow. Submit your questions on what will shape 2026.
Chart of the day
Countries such as the UK, Canada, the Netherlands and Germany have spotted an opportunity to redirect large pension savings pots towards domestic investment. But some pension fund industry executives fear such moves could hit returns and disincentivise saving.
Take a break from the news . . .
French avant-garde artist Henri Rousseau has long been belittled as a simpleton who somehow stumbled into greatness. The Barnes Foundation in Philadelphia and the Musée de l’Orangerie in Paris have teamed up on an exhibition to convince us otherwise: that Rousseau was a painter of immense control and modern sensibility.
