Global financial markets are seeing optimistic forecasts for a banner year, with the FTSE 100 topping 10,000 and European indexes starting 2026 strongly, while UK house price growth has slowed and investment platforms are cutting fees amidst questions about the US economy's K-shaped recovery and China's export-led growth model.

• FTSE 100 tops 10,000 for first time in new year rally — Financial Times -
• Wall Street Sees Another Banner Year for Markets. Could Anything Stop It? — The New York Times Business -
• Millennium and Citadel deliver double-digit returns but trail smaller rivals — Financial Times -

• UK investment platforms to cut fees in effort to woo customers — Financial Times -
• UK house prices rise less than expected in 2025 as growth slows — Financial Times -
• European Indexes Start 2026 Strongly — Wall Street Journal -
• The silver linings that could give Keir Starmer some economic cheer — Financial Times -
• UK financial watchdog closes 100 probes to sharpen enforcement focus — Financial Times -
• Five big finance questions for 2026 — Financial Times -
• China doubles down on export-led growth model — Financial Times -
• Can F.C. Barcelona, the Most Indebted Team in Global Soccer, Fix Its Finances? — The New York Times Business -
• The companies driving hopes of a London IPO revival in 2026 — Financial Times -
• Christine Lagarde’s pay is 50% higher than disclosed by ECB — Financial Times -
• Are you sure you want to leave the UK to avoid inheritance tax? — Financial Times -
• Predicting 2026: Will the Magnificent 7 tech stocks continue to diverge? — Financial Times -
• Swamp Notes: Is the US economy really K-shaped? — Financial Times -

The electric vehicle market is witnessing a significant shift as China's BYD has surpassed Tesla as the world leader in EV sales, while Tesla's vehicle sales dropped for a second year and Rivian's deliveries declined following the expiration of key tax credits.

• Tesla loses EV crown to China’s BYD — Financial Times -
• Auto & Transport Roundup: Market Talk — Wall Street Journal -
• Tesla Falls Behind China’s BYD as Vehicle Sales Drop for Second Year — Wall Street Journal -

• China’s BYD Surpasses Tesla as World Leader in Electric Car Sales — The New York Times Business -
• Rivian Deliveries Decline Following Expiration of Tax EV Credit — Wall Street Journal -
• BYD’s Sales Growth Slowed in 2025, But Still Set to Top Tesla — Wall Street Journal -

The US political and regulatory landscape is marked by Washington State's tax increases, Trump-era policies impacting fuel economy and offshore wind projects leading to an injunction sought by Ørsted, upcoming changes to student loan options, and criticism over California's proposed billionaire tax.

• Opinion | Washington State’s Tax Blitz — Wall Street Journal -
• Opinion | Trump’s Action Was About More Than Fuel Economy — Wall Street Journal -
• Ørsted seeks injunction against US government over project freeze — Financial Times -

• Big Changes Are Coming to Student Loans. Here’s What to Know if You’re Struggling. — The New York Times Business -
• Orsted’s Revolution Wind to File Injunction Against U.S. Construction Halt — Wall Street Journal -
• Threat of California Billionaire Tax Draws Criticism From Ultrawealthy — Wall Street Journal -

The retail and consumer goods sector is experiencing major shifts, with the sudden closure of Sprinkles Cupcakes, Saks' CEO stepping down amid debt and bankruptcy concerns, while Biscoff cookies expand globally and Vera Bradley returns to its core brand, contrasting with Kraft Heinz losing market share in mac and cheese.

• Sprinkles Cupcakes, the Bakery That Sold From Vending Machines, Closes Suddenly — The New York Times Business -
• Saks C.E.O. Steps Down as Company Struggles to Pay Down Debt — The New York Times Business -
• Saks CEO Steps Down Ahead of Expected Bankruptcy Filing — Wall Street Journal -

• The Maker of Biscoff Cookies Bets on a Global Expansion — Wall Street Journal -
• Vera Bradley Goes Back to Its Whimsical Roots — Wall Street Journal -
• How Kraft Heinz Lost Its Lock on Mac and Cheese—and American Shoppers — Wall Street Journal -

Technology and AI ethics are at the forefront, highlighted by concerns over Elon Musk's AI chatbot generating child sexual images, the skepticism surrounding AI tools in schools, Europe's dependence on US tech, and dating apps seeking growth in Asian markets.

• Tech, Media & Telecom Roundup — Wall Street Journal -
• Elon Musk’s AI chatbot generates child sexual images — Financial Times -
• As Schools Embrace A.I. Tools, Skeptics Raise Concerns — The New York Times Business -

• Three questions AI needs to answer — Financial Times -
• Europe has ‘lost the internet’, warns Belgium’s cyber security chief — Financial Times -
• Dating apps turn to Asia as swipe-right fatigue takes hold in the west — Financial Times -

Significant geopolitical developments include Ukraine's security apparatus overhaul by Volodymyr Zelenskyy, President Trump's warning to Iran amid protests over living standards, and rising diplomatic tensions between China and Japan over trade disputes involving scallops.

• Volodymyr Zelenskyy overhauls Ukraine’s security apparatus — Financial Times -
• Trump warns Iran that US will ‘rescue’ protesters — Financial Times -
• FirstFT: Trump warns Iran that US will ‘rescue’ protesters — Financial Times -

• Iran protests put president’s reform agenda to the test — Financial Times -
• How Japanese Scallops Became a Pawn in Diplomatic Tensions With China — The New York Times Business -

In the UK, domestic policy and economic discussions focus on Keir Starmer's crucial year as prime minister, tightened NHS criteria for weight-loss jabs, the impact of VAT on private school fees, and the government's communication effectiveness.

• A year that will dictate Starmer’s fate as prime minister — Financial Times -
• Criteria for weight-loss jabs on NHS tightened in large parts of England — Financial Times -
• What are politicians talking about? — Financial Times -

• Home Counties most affected by VAT on private school fees, data suggests — Financial Times -

Environmental and public health headlines reveal a retracted study renewing concerns about Roundup weedkiller, Big Tobacco's reliance on smoke-free products, the growing desire for quiet environments, key tests for climate action in 2026, and surging prices for lab monkeys due to China's biotech boom.

• A Study Is Retracted, Renewing Concerns About the Weedkiller Roundup — The New York Times Business -
• Pouches give Big Tobacco a shortlived pick-me-up — Financial Times -
• The quest for quiet in a dangerously noisy world — Financial Times -

• Climate action faces key tests in 2026 — Financial Times -
• Prices for lab monkeys surge on China biotech boom — Financial Times -

Broader business and lifestyle topics include travelers' rights regarding phone searches at US borders, unusual workplace trends like "no shoes" policies, and shifting consumer behaviors such as supermarkets gaining market share in the UK pizza market.

• Energy & Utilities Roundup: Market Talk — Wall Street Journal -
• Phone Searches at U.S. Borders: What Travelers Need to Know — The New York Times Business -
• FTAV’s further reading — Financial Times -

• Welcome to the Office. Now Take Off Your Shoes. — The New York Times Business -
• Why we should know what we don’t know — Financial Times -
• Why supermarkets are taking a bigger slice of UK pizza night — Financial Times -

This section commemorates notable figures such as Richard Pollak, who edited a media-critical magazine, and reflects on the giants lost in 2025, while also engaging with media outreach for insights into 2026.

• Richard Pollak, 91, Dies; Edited Magazine That Criticized the Media — The New York Times Business -
• Submit your questions to FT Editor Roula Khalaf: What will shape 2026? — Financial Times -
• Gone in 2025: A Yearlong Procession of Giants — The New York Times Business -