International - Financial Times - Credit Squeeze

US Treasury secretary calls for reform but stops short of saying country could pull out of the global institutions

Secretive US firm continued to make inroads into business once dominated by Wall Street heavyweights

Fund warns global government debt could reach 117% of output by 2027 or worse if trade tensions intensify

Billionaire founder of Virgin Group speaks out against potential damage of US economic policies

Also in today’s newsletter, Putin’s Ukraine proposal and Maga Catholics seek ‘Trump-like’ pope

Optimism falls to lowest level since November 2022 while activity declines to close to stagnation

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Global stocks and dollar rise after US president eases pressure on Fed chair

China’s biggest car show hears German group’s ability ‘to import and export in all directions’ is affected

Treasury secretary tempers optimism over negotiations with Beijing, saying it would ‘be a slog’

And more on inflation expectations

Novartis and Sanofi CEOs push for European benchmark against US prices

Manufacturers struggle to attract young workers for physically demanding roles with long hours and low pay

Developing nations are ‘main defenders’ of global diplomacy, argues president’s top foreign policy adviser

A component levy on foreign-made semiconductors would function as a major tax increase on electronics sold in America

The hedge fund Elliott is turning up the heat on BP with a demand for deep spending cuts

Fresh claims follow allegations last year that the chair presided over a toxic workplace culture at the organisation

Sector has largely benefited from tariff-free trade since 1979

Scott Bessent tells investors he expects the two countries to reach a deal that would end restrictions on flow of goods

Third-party vendors are betting that White House will back down on steep China levies