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Joe Biden placed the blame for the January 6 assault on the US Capitol squarely on Donald Trump as he vowed to defend the country from a “dagger at the throat of democracy” during a speech to mark the first anniversary of the deadly attack.
In an emotionally charged address, Biden, who referred to Trump only as “the former president”, said his predecessor “values power over principle because he sees his own interest as more important than his country’s interest and America’s interest”.
“His bruised ego matters more to him than our democracy or our Constitution,” the US president said. Dismissing Trump’s claims that the 2020 election was “stolen”, Biden called on Americans to think seriously about the state of the country’s democracy.
Former president Jimmy Carter wrote in the New York Times that he fears for the future of American democracy.
Corporate America’s response to the January 6 attack was also in focus as one of Washington’s top business groups condemned those perpetuating “the falsehood of an illegitimate 2020 presidential election”. (FT, NYT)
The FT View: Dwelling on legislative or technical reforms avoids the larger issue: the Republican party has become more estranged from civilised politics.
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Five more stories in the news
1. Kazakhstan protests Russian paratroopers and allied regional troops arrived in Kazakhstan after the president appealed for help controlling protests in which dozens have been killed in clashes with police. The demonstrations could mark the end of Nursultan Nazarbayev’s long grip on power, but they do not suggest a smooth transition from autocratic rule.
Related news: Uranium prices jump as Kazakhstan upheaval stokes supply concerns. Also, Chevron has made a “temporary adjustment” to oil output in Kazakhstan, the first sign of the upheaval affecting energy supplies.
2. Investors lose ground in fight against supervoting shares A record number of companies including Chobani, Rent the Runway and Sweetgreen went public last year with shares that deny voting powers to most investors, a setback for asset managers pushing back against unaccountable corporate leadership.
Opinion: Apple is vulnerable to a new breed of activist It has become easier for shareholders to push for change if they have a solid record or a trendy theme, says Tom Braithwaite.
3. Departing Andreessen partner seeks to raise at least $900m for crypto funds The debut of Katie Haun’s new firm, which goes by the name KRH, would be one of the biggest for any new venture capital group.
4. Growth equity booms as investors embrace private markets Growth equity has become one of the hottest corners of the private capital industry, as ever-larger companies eschew public markets and find strong demand among investors desperate for higher-returning bets.
5. Fed trading scandal rekindled by disclosure Outgoing Federal Reserve vice-chair Richard Clarida was more active in financial markets at the start of the pandemic than he originally divulged, according to new disclosures. Clarida, who was already under fire for trading as the Fed planned emergency support for the economy, blamed “inadvertent errors”.
Coronavirus digest
Samsung’s profit soars as Covid-19 resurgence fuels semiconductor demand.
France and Italy are instituting measures to pressure the unvaccinated to get Covid-19 jabs, such as no longer accepting negative tests to access restaurants.
Opinion: Eliminating anti-vaxxers is a pipe dream, writes Henry Mance: “We have to content ourselves with judging them.”
Xi’an officials fired hospital workers for denying entry to a pregnant woman who lacked a negative Covid test and subsequently had a miscarriage.
The day ahead
US jobs The official non-farm payrolls report is forecast to show the US economy created about 400,000 jobs in December while the unemployment rate is projected to slip to 4.1 per cent, from 4.2 per cent previously. President Joe Biden is expected to address the report.
Eurozone inflation Figures are expected to show a dip from 4.9 per cent in November to 4.7 per cent in December, still close to a 13-year high.
What else we’re reading and listening to
Six FT writers on the best party they ever attended From a 16th-birthday bash hosted by a hip-hop star to a fancy-dress rave in Mumbai, these writers reflect on their most memorable nights.
“Sometime well after midnight two actual cops showed up but no one noticed them because there were already so many paunchy, moustachioed men in the joint” — Neil Munshi, FT west Africa bureau chief
Why a private equity newbie is making bets on sport Since its launch, Arctos Sports Partners has become the most prolific buyer of sports stakes around the world, including in English football’s Liverpool FC, baseball’s Boston Red Sox and basketball’s Golden State Warriors. At the same time, the rush of institutional capital is raising questions about how investors will seek returns in exits.
Can architecture improve the lives of chronic pain sufferers? The rise of homeworking, which has been embraced by many, has been a double-edged sword for those who suffer from chronic pain. Increasingly, buildings include innovations to accommodate those living with disabilities and health conditions.
Sudan’s struggle for democracy The country’s attempt to transition to democratic rule foundered this week with the resignation of Abdalla Hamdok, interim prime minister. On the Rachman Review, Gideon Rachman discusses what happens next with London-based journalist Yousra Elbagir and Sudan-based writer Muzan Alneel.
Football’s future is in the metaverse When European football was having conniptions last year over plans for a breakaway Super League, a central theme was the concept of the “real fan”. Technology is about to give this debate an intriguing new dimension, writes Leo Lewis.
Thank you to those who took part in our poll on Wednesday. Fifty per cent of respondents said scientists should decide what to say to aliens, rather than civilians.
Fitness
Running club numbers are on an upward sprint. One big draw is the sense of on-demand community — a rare chance to expand one’s social horizons at a time when many social touchpoints of daily interaction remain at a low.
Source: Economy - ft.com
