This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia<\/a>, Europe\/Africa<\/a> or Americas<\/a> edition to get the newsletter delivered every weekday morning. Explore all of our newsletters here<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n Good morning. In today\u2019s newsletter: <\/p>\n China retaliates against Trump\u2019s tariffs<\/p>\n<\/li>\n Microsoft poaches DeepMind staff behind AI podcast feature<\/p>\n<\/li>\n Bangladesh rewrites its past<\/p>\n<\/li>\n<\/ul>\n Beijing has retaliated against Donald Trump\u2019s tariffs on imports from China with duties of its own but limited their scope in a possible attempt to avoid a full-blown trade war.<\/p>\n China will impose tariffs of between 10 per cent and 15 per cent<\/a> on US liquefied natural gas, coal, crude oil and farm equipment. Beijing will also impose tariffs on some car imports from the US and additional export controls on five rare metals. The measures will take effect on February 10.<\/p>\n China\u2019s new tariffs target about $14bn of goods, Citigroup analysts said \u2014 less than 10 per cent of total imports from the US in 2023, the last year for which there was full data.<\/p>\n China also announced yesterday it had revived antitrust investigations into US tech giants Google and Nvidia, while considering a new probe against Intel. <\/p>\n The investigations \u201cmay be part of the retaliatory measures\u201d, made by Beijing in response to Trump\u2019s new tariffs against the country, said Liu Xu, a researcher at the National Strategy Institute of Tsinghua University. Xu added that the probes could be used as a tool in trade negotiations. Here\u2019s what else we know about China\u2019s moves<\/a>.<\/p>\n More on Trump\u2019s tariffs:<\/strong> The US president\u2019s crackdown on tariff-free access for small goods could threaten the business models of Chinese ecommerce groups Shein and Temu while benefiting Amazon<\/a>, analysts said.<\/p>\n<\/li>\n<\/ul>\n For more coverage of global trade, sign up for Alan Beattie\u2019s weekly Trade Secrets newsletter here<\/a> if you\u2019re a premium subscriber, or upgrade<\/a> your subscription. Here\u2019s what else we\u2019re keeping tabs on today:<\/p>\n Economic data:<\/strong> South Korea and Philippines report January inflation data. Indonesia publishes fourth-quarter GDP.<\/p>\n<\/li>\n Results:<\/strong> Toyota, Nomura, Novo Nordisk, Uber and Disney report earnings.<\/p>\n<\/li>\n China:<\/strong> Financial markets reopen after the lunar new year holiday.<\/p>\n<\/li>\n Delhi state legislature elections:<\/strong> Prime Minister Narendra Modi\u2019s Bharatiya Janata party is hoping to recapture the capital city, which it has not won for over 27 years<\/a>. (Associated Press) <\/p>\n<\/li>\n<\/ul>\n Have questions about the Modi government\u2019s <\/em>plans to reinvigorate the Indian economy<\/em><\/a>? Send them to us and we\u2019ll answer them in a special weekend edition of the newsletter. Hit reply or email\u00a0<\/em>firstft@ft.com<\/em><\/a>.<\/em><\/p>\n 1.<\/strong> Microsoft\u2019s artificial intelligence head Mustafa Suleyman has poached his former colleagues at Google DeepMind<\/strong> who built its popular podcast-generating feature, as the rival companies race to build lucrative applications from the cutting-edge technology. The feature, \u201cAudio Overviews\u201d, allows users to transform text into audio that has the style of an engaging conversational podcast<\/a>.<\/p>\n 2. FBI agents are suing the Trump administration<\/strong> to prevent it from publicly naming staff involved in an investigation into the January 6 Capitol attack in 2021<\/strong> amid an intensifying crackdown against the president\u2019s perceived enemies.\u00a0They allege that a justice department attempt to identify those involved in the probes risked putting them and their families in \u201cimmediate danger of retribution\u201d<\/a>. <\/p>\n 3. Alphabet\u2019s revenues undershot estimates in the fourth quarter as the search giant\u2019s cloud business grew slower than expected.<\/strong> The Google parent also revved up its spending on data centres<\/a> as it competes with Silicon Valley rivals in the artificial intelligence race.<\/p>\n 4. Apollo Global Management chief executive Marc Rowan says a wave of partnerships between alternative and big asset managers will shake up Wall Street.<\/strong> He said companies such as Apollo could create co-branded investment funds or \u201cmassive managed accounts\u201d<\/a> with traditional asset managers that would widen investors\u2019 ownership of unlisted assets.<\/p>\n 5. Exclusive: Citigroup will continue to allow most employees to work remotely at least two days a week<\/strong> in a move that puts it out of step with some rivals and the Trump administration. Here\u2019s why chief executive Jane Fraser described flexible in-office work requirements as a competitive advantage<\/a>.<\/p>\n Barely half a year after Bangladesh\u2019s student-led revolution overthrew Sheikh Hasina\u2019s 15-year rule, the interim government led by Nobel laureate Muhammad Yunus is rewriting the country\u2019s official history. School textbooks printed by his government have revised the country\u2019s independence narrative<\/a> and challenged the cult of personalty that was built around Sheikh Mujibur Rahman, the late father of Sheikh Hasina. But Yunus\u2019s team faces a range of obstacles in this effort to remake the country.<\/p>\n \u2018Fair\u2019 algorithms:<\/strong> Simply adding a human review process to automated systems doesn\u2019t make tricky trade-offs<\/a> disappear, writes Sarah O\u2019Connor.<\/p>\n<\/li>\n The Big Read:<\/strong> Have America\u2019s industrial giants lost their way by measuring success only in financial terms<\/a>?<\/p>\n<\/li>\n Market Insight: <\/strong>Shifts in the global economic and financial order are making the concept of the \u201cglobal south\u201d less effective<\/a>, writes Mohamed El-Erian.<\/p>\n<\/li>\n<\/ul>\n Chinese manufacturers say they will speed up efforts to move production to other countries<\/a> to circumvent US tariffs, after Donald Trump announced a new trade offensive against Beijing. Chinese companies have already been diversifying their trade in recent years, and China\u2019s share of US imports has fallen markedly since Trump introduced tariffs in his first term in office. <\/p>\n Weight-loss drugs\u00a0such as Ozempic have curbed the obesity crisis, but have they killed the joy of food? Ajesh Patalay explores what a world of tiny appetites means for modern dining<\/a>.<\/p>\n Thank you for reading and remember you can add FirstFT<\/a> to myFT. You can also elect to receive a FirstFT push notification every morning on the app. Send your recommendations and feedback to firstft@ft.com<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n One Must-Read<\/strong> \u2014 Remarkable journalism you won\u2019t want to miss. Sign up here<\/a><\/p>\n Newswrap<\/strong> \u2014 Our business and economics round-up. Sign up here<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n
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