Top headlines from across today’s paper
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FINANCIAL TIMES
Friday, 9 May 2025
 
 
 

Top Headlines from the UK Edition

 
 
 
China exports jump 8% in April despite tariffs
 
Data comes ahead of talks between Washington and Beijing to reduce tensions
 
 
Chicago in the Vatican: what America’s first pope means for the Catholic church
 
Pope Leo XIV will need to tread a fine line in an era of geopolitical turmoil
 
 
US and UK seal first deal of Donald Trump’s trade war
 
White House and Downing Street celebrate tariff cuts but critics warn of a thin agreement that could face legal challenge
 
 
Donald Trump proposes to raise income taxes on wealthy Americans
 
Move would breach Republican orthodoxy and comes as president seeks to pay for broader fiscal package
 
 
The foreign landscape of British politics
 
There may no longer be space for two major parties of the traditional middle after Reform’s disruption
 
 
 

Top Headlines from the International Editions

 
 
 
Donald Trump picks Fox News’ Jeanine Pirro as interim top prosecutor in Washington
 
Selection of television host represents latest shake-up in personnel at the high-profile enforcement bureau
 
 
Celsius founder Alex Mashinsky sentenced to 12 years in prison
 
Prosecutors described founder of cryptocurrency lender as a ‘fraudster of epic proportions’
 
 
Bulgarian spy helped Wirecard’s Marsalek plan Kabul airlift for CIA, court told
 
Claim dismissed by prosecution lawyers at Old Bailey sentencing hearing
 
 
Milken mission: Trump dispatches Bessent to calm the financial elite
 
US Treasury secretary’s message in Beverly Hills got a mixed review from investors
 
 
OpenAI still has a governance problem
 
Remaining under the control of a non-profit board does not negate the risks of increasingly autonomous AI models  
 
 
 

Markets

 
 
 
Soaring gold prices test mettle of luxury watch brands
 
Amid buoyant consumer demand, watchmakers are under pressure to pass on costs or turn to alternative materials
 
 
Asian investors fear more volatility after ‘extraordinary’ currencies moves
 
Traders uncertain about what local companies will do with trillions of dollars of US assets
 
 
Macquarie warns of ‘intense pressure’ on global trade
 
Australian asset manager also highlights threat of pushback against renewable energy
 
 
Coinbase agrees to buy Deribit for $2.9bn in digital market’s biggest deal 
 
Crypto industry prepares for expected wave of demand from banks and asset managers
 
 
UK regulator to ditch Northern Rock-inspired limits on building societies
 
BoE to scrap limits on lending and treasury activities introduced after the 2008 financial crisis
 
 
 

Companies

 
 
 
Watches and Jewellery: May
 
Soaring gold prices test mettle of watchmakers; Eric Pirson on Tudor’s drive into the sporting big league; Shona Taine joins the horology elite; the ever increasing appeal of alexandrite; in search of new frontiers in the watch space race
 
 
Race for space watches heats up
 
From pieces using high-tech materials to astronaut-themed dials, the industry is exploring new frontiers
 
 
Canada looks for bright spots as diamond mines wind down
 
Jobs for Indigenous people especially are under threat, though prices for stones are forecast to rise as scarcity increases
 
 
Annie Warburton: ‘How can Goldsmiths’ Company be good ancestors to the future?’
 
As the organisation nears its 700th anniversary, its head wants it to be ‘more relatable’ as an industry showcase
 
 
Tudor’s CEO: ‘We decided to put some money on the table’
 
Eric Pirson reflects on the brand’s increased focus on sports partnerships, its differences with Rolex and its wider strategic moves
 
 
 

Opinion

 
 
 
Britain’s trade deals are a starting point