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Also in today’s newsletter, Klarna board upheaval and China’s debt ‘bubble’

Also in today’s newsletter, Merz on Germany’s debt brake and BP’s investor day

Also in today’s newsletter, Joe Biden set to block US Steel deal and Big Read on China’s back doors to western markets

Also in today’s newsletter, UK water companies’ data shortage and Mandela legacy disaffection

Also in today’s newsletter, SEC accused of censorship and Ukraine blows up bridges

Also in this newsletter, Moody’s downgrades Chinese developer Vanke’s bonds and US warns Israel against ‘smashing into Rafah’

Also in today’s newsletter, report says US ‘ill-prepared’ for China and Russia’s nuclear challenge and China’s HongShan plots global expansion

Also in today’s newsletter, how a $1.4tn Trump trade war could unfold, and DeepMind slows down research releases

Also in today’s newsletter, Apple is to stop selling its smartwatches and the FT’s Person of the Year

Also in today’s newsletter, former Chinese premier Li Keqiang dies and GM’s Cruise suspends its driverless car operations