Good morning and welcome again. In as we speak’s e-newsletter:
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Russian spacecraft intercepted Europe’s key satellites, officers imagine
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Lloyds plans company banking push in technique overhaul
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Santander agrees $12.2bn deal to purchase US financial institution Webster Monetary
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French agency Amundi says it is going to reduce publicity to US over coming yr
We start with an unique story on Russian spy spacecraft suspected of intercepting a few of Europe’s most essential satellites.
What to know: European safety officers imagine two Russian house autos have intercepted the communications of at the least a dozen key satellites over the continent.
Why it issues: Officers imagine that the seemingly interceptions, which haven’t beforehand been reported, threat not solely compromising delicate, unencrypted data transmitted by the satellites however may additionally permit Moscow to govern their trajectories and even crash them.
Russian house autos have shadowed European satellites extra intensively over the previous three years, at a time of rigidity between the Kremlin and the west following Moscow’s full-scale invasion of Ukraine. Learn the article in full.
Right here’s what else we’re conserving tabs on as we speak:
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Ukraine struggle: US-brokered peace talks between Russia and Ukraine resume in Abu Dhabi.
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Financial information: The EU publishes inflation information. Companies PMIs are due for the Eurozone, France, Germany, the UK and US.
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Important minerals: The US hosts its inaugural crucial minerals ministerial assembly in Washington.
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Outcomes: Alphabet, Crédit Agricole, Eli Lilly, GSK, Handelsbanken, Infineon, Novo Nordisk, Santander, Uber and UBS report earnings. See The Week Forward for a fuller record.
5 extra high tales
1. Unique: Lloyds Banking Group is planning to extend lending to huge company shoppers and increase companies to monetary establishments, signalling a shake-up for the UK retail financial institution that might see it increase internationally. Learn particulars of the proposal.
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Santander acquisition: The Spanish lender has struck a $12.2bn deal to purchase US-based Webster Monetary, which its chair mentioned would give it scale to compete.
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Wealth administration: A dozen of Mediobanca’s high personal bankers have left for Deutsche Financial institution within the wake of the Milanese lender’s takeover by Monte dei Paschi.
2. Europe’s largest asset supervisor Amundi is lowering its publicity to US greenback belongings and turning to European and rising markets, its chief govt has mentioned. The French group, which has €2.4tn of belongings beneath administration, is the most recent huge investor to voice concern over US policymaking.
3. Unique: Nestlé’s chief govt Philipp Navratil is planning a strategic overhaul that can refocus the sprawling multinational round 4 product classes, because it faces stress to spice up progress after a interval of turmoil. Learn the total story.
4. UK police have launched a prison investigation into Lord Peter Mandelson over potential misconduct in public workplace, as he give up the Home of Lords after claims he handed confidential authorities data to the convicted intercourse offender Jeffrey Epstein.
5. Unique: Tether’s chief govt Paolo Ardoino has downplayed the sum of money it is going to increase in a brand new funding spherical because the world’s largest stablecoin issuer faces investor pushback over its $500bn valuation goal. Jill R Shah has extra from San Salvador.
Information in-depth
Capitalising on European governments’ elevated army spending, Rheinmetall has pushed into an array of applied sciences and geographies as its chief seeks to show the German firm right into a multi-domain group akin to huge US defence contractors. However the scale of its growth — from arms to house — has alarmed rivals.
We’re additionally studying . . .
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Attraction case: French prosecutors yesterday requested an appeals court docket to uphold a five-year ban that might forestall far-right chief Marine Le Pen from operating for president in 2027.
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Grok deepfakes: French investigators raided X’s Paris workplaces, following a public outcry over how its chatbot unfold sexualised photos of girls and kids.
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Kurdish peace plan: Turkish President Recep Tayyip Erdoğan’s push to finish a four-decade battle hinges on a dapper, mercurial coalition ally.
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Saif al-Islam Gaddafi: The son and inheritor obvious of former Libyan dictator Muammer Gaddafi has been killed in unclear circumstances.
Chart of the day
Since 2017, the costs of flats within the UK have underperformed these of homes. Final week a authorities invoice outlined plans to restrict floor rents to £250 a yr. However is it sufficient to make flats fascinating once more?
Can Europe stand by itself two ft? Be a part of FT journalists for a subscriber-only webinar on February 12 on the evolving transatlantic relationship. Register right here and ship us your questions.
Take a break from the information . . .
Joe Studwell’s How Africa Works catalogues the components that assist clarify why many of the continent’s states have didn’t match Asia’s breakthrough growth. Drawing from case research of success, he additionally assesses what it might take for different economies to catch up.
