Letter: Tidal power: the very definition of resilience
From Kate Gilmartin, CEO of the British Hydropower Association and convener of the Tidal Range Alliance, West Moors, Dorset, UK
Letter: Broken promises from Cicero to Bush to Reeves
From Jack William Byers, Whitehaven, Cumbria, UK
Trump administration slashes Ozempic and Wegovy price for Medicare
US negotiates 71% cost reduction of Novo Nordisk’s obesity drugs for elderly Americans on government health insurance
Letter: Why stablecoin failures could happen again
From Alex J Pollock, Senior Fellow, Mises Institute, Lake Forest, IL, US
Letter: Where Trump imperils his soft power advantage
From Shylton Matta, Hartsdale, NY, US
Letter: Three leaders who should look to their own record
From Jonathan Hakim, Belmont, MA, US
China leapfrogs US in global market for ‘open’ AI models
Beijing-backed technology gains ground as American giants hold fast to ‘closed’ AI strategies
Letter: Dress code tips get this reader hot under the collar
From Dick Sands, London TW8, UK
Letter: Time to ask what those on the frontline think
From Jack Helfenstein, Horgenberg, Switzerland
Catering group Compass looks to capitalise on AI boom
FTSE 100 group seeks more contracts to run canteens at tech companies and AI data centre construction sites
Rachel Reeves presents her 2025 Budget
‘I don’t think it’s a leak — this time it’s the actual Budget’
The AI cycle will crack first in Asia
Big US tech companies are more diversified than Korean and Taiwanese chipmakers
FT Crossword: Number 18,223
Jair Bolsonaro to start 27-year sentence for Brazil coup plot
Supreme Court justice Alexandre de Moraes finds all of former president’s legal appeals had been exhausted
Nvidia shares fall on signs Google gaining upper hand in AI
$115bn sell-off for chip group weighs on those linked to the company
FirstFT: VW says it can halve EV development costs with China-made car
Also in today’s newsletter, Samsung’s chair meets Mukesh Ambani, and Trump sends top envoy to Russia
Trump sends top envoy to Russia to finalise US peace plan for Ukraine
President’s comments come as Moscow signals it could reject proposal that differs from Alaska talks
What are the hedge funds shorting?
A look at the strategies of the supposedly smartest people in finance
Altice USA accuses creditors of forming ‘illegal cartel’
Defendants who own large chunks of $26bn distressed debt pile include Apollo, Ares, BlackRock and Oaktree
Ministers plan to scrap jury trials in England and Wales except for most serious cases
Proposed changes unlikely to apply to trials for serious offences such as rape and murder
Reeves increases minimum wage by 4.1% ahead of tax-raising Budget
Chancellor takes steps to cushion the cost of living but is set to extend a ‘stealth tax’ by freezing personal tax thresholds
Grim retail sales data fuels concerns about health of US economy
Consumer confidence drops to second-lowest level since pandemic as inflation lingers
Google is a near-$4tn monument to monopoly power
As threat from ChatGPT recedes, users are searching more with the market leader and monetisation seems to be intact
The four audiences Reeves’ ‘high-wire’ Budget must satisfy
Chancellor needs a lot to go right if she is to somehow reconcile interests of Labour MPs, markets, business and the public