Good morning.
China is increasing monitoring Covid-19 variants as countries including the US, Italy and Japan impose restrictions on travellers from the country amid concern that the unprecedented surge in cases could produce new variants.
In recent days, Chinese researchers and officials have begun uploading genome sequence data from hundreds of coronavirus samples to Gisaid, a global online database that allows scientists to track mutations of the virus. So far, the samples show that the primary Omicron sub-variants spreading in China are similar to those that have already been identified in Europe and North America. But researchers say more data are needed to get the full picture.
On Wednesday, Washington announced that from January 5, air passengers arriving from China must show a negative Covid-19 test or proof of recovery from a previous infection.
Dig Deeper: Covid and crackdowns muffle China’s live music scene
Thanks for reading FirstFT Americas. Please note that the newsletter will take a break on Monday, returning to normal on Tuesday January 3. Have a wonderful weekend and happy new year! — Georgina
Five more stories in the news
1. Republicans set to take House majority amid division and scandal
The new Republican majority in the US House of Representatives is set to take office next week as leader Kevin McCarthy rushes to overcome internal opposition to his Speakership and an incoming New York congressman, George Santos, admits he “embellished” his CV. Find out how Santos misled voters.
2. US green subsidies may drive European companies closer to China America’s huge green subsidies plan risks backfiring by making “overtures and propositions” from Beijing more interesting and driving European companies closer to China, Valdis Dombrovskis, the European trade commissioner, warned yesterday.
3. Global stocks set to post worst year since 2008 financial crisis
The broad MSCI All-World index of developed and emerging market equities has shed nearly a fifth of its value in 2022, with bourses from Wall Street to Shanghai and Frankfurt all notching up significant losses.
4. Mergers and acquisitions down by a third in second half of 2022 Global dealmaking suffered a record fall during the six months to December, as rising interest rates and economic uncertainty brought a period of frenzied activity to an abrupt close. Read the full story.
5. Ukraine rocked by massive Russian missile barrage Scores of Russian missiles were fired at Kyiv and other Ukrainian cities yesterday in what officials described as one of the largest daily barrages of a months-long campaign targeting the country’s energy infrastructure.
Weekend essay: Ukrainian writer Oleksandr Mykhed tells the story of two scientists caught up in the conflict and reflects on its agonising impact on his homeland.
How well did you keep up with the news this year? Take our FirstFT 2022 quiz to find out.
What else we’re reading
Fashion designer Vivienne Westwood dies aged 81 Westwood died “peacefully and surrounded by her family” at home in London last night, her representatives said. The designer made her name on London’s fashion scene in the 1970s and was widely credited with bringing punk style into the mainstream.
Millennials shatter oldest rule in politics People have tended to become more conservative as they grow older. From the “silent generation” born between 1928 and 1945 to “Gen X”, who came along between 1965 and 1980, this pattern has held firm — until now. While millennials, born between 1981 and 1996, started on the same trajectory, something has changed, with striking implications for UK Conservatives and US Republicans.
War, inflation and tumbling markets: the year in 11 charts It has been a year dominated by unforeseeable events with stark consequences and few precedents in recent history. Over a tumultuous 12 months, the FT’s visual and data journalism has brought readers a deeper understanding of the news stories that dominated 2022. Here are the highlights.
Pelé dead at 82 after stellar football career for Brazil Football fans around the world are mourning Pelé, the man celebrated as the greatest player in the history of the sport, who has died at the age of 82. Our obituary remembers the life of one of the most popular and recognisable athletes of the 20th century.
Most popular FT Weekend story: Inside Putin’s circle — the real Russian elite
As the year reaches its close, we are sharing some of our most-read stories across different sections of the FT.
As the west focuses on oligarchs, a far smaller group has its grip on true power in Moscow. These men are known in Russia as the “siloviki” — “men of force”. Who are the siloviki, and what motivates them?
Most popular FT obituary: Anshu Jain, banker, 1963— 2022
Jain, who died in August aged 59, spearheaded Deutsche Bank’s conquest of Wall Street and was known for his hard-charging trading floor style.
Take a break from the news
Did you know that Bundt cakes hark back to the German bundkuchen — a “gathering” or “together” cake? The “t” was added in the 1950s by a Minneapolis aluminium pan manufacturer who couldn’t trademark the word bund. Honey & Co’s chocolate, orange and coffee take on the classic Bundt cake is a perfect dinner party treat. Save the recipe.
Source: Economy - ft.com
