Iowa caucuses in the cold

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Donald Trump parlayed his commanding poll lead among Iowa Republicans into a resounding victory tonight, putting him on track to win the party’s nomination to challenge Joe Biden in November’s general election. We aim to make it easier.

Former U.S. Ambassador to the United Nations Nikki Haley has moved into second place in the Iowa polls and hopes a strong performance tonight will set her up for a possible second-place victory in New Hampshire later this month. As expected, the closing gap will become smaller.

Florida Gov. Ron DeSantis hopes to breathe new life into his campaign by slipping into third place in Iowa, but faces pressure to resign if he performs poorly in the Midwest state. Dew.

The final weekend of campaigning in Iowa was interrupted by a snowstorm, forcing all candidates to cancel or postpone their scheduled campaigns. Temperatures below -20 degrees Celsius threaten turnout in the election, which kicks off the 2024 Republican campaign for the White House. Click here to learn more about campaign closing times.

And here’s what else I’m focusing on today:

• World Economic Forum: The annual gathering of political and business leaders in the Swiss ski resort of Davos begins today. The FT’s senior journalists are on the ground, providing news and analysis from the ground. Sign up for updates here.

• Martin Luther King Jr. Day: U.S. markets are closed to commemorate the civil rights leader’s birthday.

5 more top articles

1. Former US officials emphasize continuity on unofficial visit to Taiwan This comes immediately after a public opinion poll in which Democratic Progressive Party’s Kiyotoku Lai was elected president. China yesterday slammed the US, UK and Japan for congratulating Lai on his victory. China has in the past accused Lai of being a dangerous separatist. Read more about the delegation and the results of Saturday’s election.

FT’s opinion: Given the turbulent and fragile geopolitical balance around Taiwan, the relatively conciliatory attitude of Mr. Lai and the Chinese government after the election is a welcome sign, writes the FT’s editorial board.

2. Germany’s output fell by 0.3% last year as high inflation, rising interest rates and soaring energy costs made Europe’s largest economy one of the world’s worst performers. The decline worsens a bleak start to the year for a country hit by nationwide rail strikes and destructive farmers’ protests. This is why Germany, once Europe’s strongest economy, is now one of its weakest.

3. Yesterday, security officials from 83 countries met in Davos to discuss Kiev’s demands for an end to the war. The active participation of national security representatives from the so-called Global South countries that maintain diplomatic relations with Russia – India, Brazil and Saudi Arabia – was hailed as a positive signal by Western officials. As we approach the second anniversary of Russia’s full-scale invasion of Ukraine, we will provide more details on the outcome of the talks.

4. Private equity can no longer rely on borrowing cheap money to generate profits. According to the head of Goldman Sachs’ investment business, the company needs to get back to its roots: sourcing quality deals and improving operations. “Private equity is going to look different in the next 10 years than it did in the last 10.” Read Mark Nachman’s full interview.

5. Bill Ackman has threatened legal action against German media group Axel Springer and its US-based financial news site Business Insider. A bitter fight over plagiarism allegations against a hedge fund boss’s wife is escalating. The FT reported on Sunday that an internal investigation by Axel Springer found that Business Insider’s reporting on plagiarism allegations against academic Neri Oxman was accurate and “well-documented.” Here’s the latest information on the increasingly heated debate.

big reading

Last October, Boeing CEO Dave Calhoun said the U.S. aircraft maker was focused on improving the quality of its aircraft. He told analysts that the company had “added rigor” to its “quality processes” in recent years. Calhoun is now investigating the dangerous explosion of part of the fuselage of an Alaska Airlines flight by the Federal Aviation Administration that occurred just a week ago, and he believes his reputation and that of his management team are at risk. I am aware that there are.

I’m also reading. . .

chart of the day

The four largest U.S. banks, JPMorgan Chase, Bank of America, Citigroup and Wells Fargo, reported results on Friday that showed their lending businesses benefited significantly from rising interest rates but fell short of potential. This showed that more funds need to be set aside to cover major loan losses.

Take a break from the news

Fifteen years after getting sober, Nick Johnston has found a surprising new hobby. It’s all about choosing the perfect wine to serve. In this thoughtful essay, Johnston tells how wine, once a poison, became his sobering passion.

With Tee Zhuo benjamin wilhelm