FirstFT: Taiwan’s Tsai Ing-wen and US Speaker to satisfy in California, not Taipei

Simon Case is pondering of quitting his job as UK cupboard secretary, sources advised the Monetary Occasions, after his leaked WhatsApp messages angered Conservative MPs.

In Taiwan, President Tsai Ing-wen has satisfied US Home Speaker Kevin McCarthy to satisfy in California as a substitute of Taipei to keep away from frightening China.

Scroll down for extra on each tales. In the meantime, I’ll be conserving tabs on:

• US Federal Reserve: Chair Jay Powell testifies at the moment earlier than the Senate Banking Committee as fellow Fed officers trace at conserving rates of interest larger for longer.

• Outcomes: Ashtead, Financial institution of Eire, Foxtons, Fresnillo, Greggs, Henkel, IWG and Attain report.

• French strikes: Widespread protests are anticipated towards President Emmanuel Macron’s plans to boost the authorized retirement age from 62 to 64.

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Right this moment’s high information

1. EXCLUSIVE: US Home Speaker Kevin McCarthy will meet Taiwan’s Tsai Ing-wen in California and never Taipei to keep away from an aggressive Chinese language army response, as tensions run excessive between Beijing and Washington. Extra on why the venue was modified.

2. The US defence secretary mentioned Iran is doing the “unthinkable” in Ukraine by gaining expertise via deploying drones for Russia. Right here’s why Lloyd Austin thinks this “doesn’t bode effectively” for the Center East.

3. EXCLUSIVE: Simon Case is pondering of quitting after leaked WhatsApp messages angered Conservative MPs. The UK’s most senior civil servant is “fed up”, his associates advised the FT.

4. Chinese language corporations are selecting Switzerland to boost cash, shunning the US as a result of geopolitical tensions and Britain over more durable audit requirements. Learn the way Chinese language corporations raised almost seven occasions the capital in Zurich as in New York final yr.

5. EXCLUSIVE: Non-public credit score teams are set to put in writing the most important direct mortgage on report, with Apollo, Ares and Blackstone assured they will land a deal to assist Carlyle purchase 50 per cent of healthcare analytics firm Cotiviti, sources mentioned. Learn the complete story.

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The Large Learn

Digital cigarettes have cemented their standing as a much less dangerous manner of consuming nicotine — however at a giant price to the setting. Tonnes of digital waste are being produced, with vital metals contained in the disposable “vapes” extra more likely to be dumped than recycled.

We’re additionally studying and watching . . . 

Chart of the day

China’s political management introduced an unambitious 5 per cent progress goal this weekend, regardless of optimism following three years of closures. Why has Beijing set its lowest purpose in a long time? Learn our evaluation to search out out.

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Take a break from the information

Whereas the Academy of Movement Image Arts and Sciences hems, haws and nervously assembles a disaster staff forward of awards night time on March 12, FT readers can have their say now by way of our new Oscars voting device. Forged your ballots beneath. (Ball robes and black tie non-compulsory.)

Further contributions by Emily Goldberg and David Hindley