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. On today\u2019s agenda: <\/p>\n Central bankers warn over sticky inflation<\/p>\n<\/li>\n The FT\u2019s Person of the Year <\/p>\n<\/li>\n The hurdles to a Nissan-Honda merger<\/p>\n<\/li>\n<\/ul>\n Leading central banks have warned that inflation is proving stickier than expected<\/a> and that they will only cut borrowing costs gradually in 2025, in a shift that hit bond markets on both sides of the Atlantic.<\/p>\n A day after Federal Reserve officials dialled back their rate-cutting expectations, the yield on US 10-year Treasuries, a bedrock of global finance, hit the highest level since May at 4.59 per cent.<\/p>\n UK yields also reached 4.66 per cent, the highest in more than a year as Bank of England officials yesterday warned of an increased risk of \u201cinflation persistence\u201d and kept benchmark rates on hold.<\/p>\n Inflation has begun to pick up again in both the US and UK, while uncertainties over the policies of US president-elect Donald Trump are clouding economic prospects across the globe.<\/p>\n That includes Tokyo, where Bank of Japan governor Kazuo Ueda said yesterday that the central bank needed \u201cone more notch\u201d of information<\/a> before committing to its next interest rate rise. <\/p>\n The yen tumbled past \u00a5157 against the dollar after Ueda\u2019s comments, which followed the BoJ\u2019s announcement that it was holding short-term interest rates at 0.25 per cent.<\/p>\n Related:<\/strong> Trump is still weeks away from taking the oath of office, but the president-elect\u2019s vow to enact a sweeping policy overhaul is already looming over the Federal Reserve<\/a>.<\/p>\n<\/li>\n<\/ul>\n Here\u2019s what else we\u2019re keeping tabs on today and over the weekend:<\/p>\n Economic data: <\/strong>Japan and Hong Kong report November inflation data.<\/p>\n<\/li>\n Monetary policy:<\/strong> China announces its one-year and five-year loan prime rates. <\/p>\n<\/li>\n Myanmar:<\/strong> Asean ministers meet in Thailand to discuss the civil war in the south-east Asian country.<\/p>\n<\/li>\n China:<\/strong> Today is the 25th anniversary commemorations in Macau marking the handover of the former Portuguese colony to Chinese rule on this day in 1999.<\/p>\n<\/li>\n<\/ul>\n How well did you keep up with the news this week? <\/em>Take our quiz<\/em><\/a>. <\/em><\/p>\n 1. North Korean groups have stolen $1.34bn through cryptocurrency hacks this year,<\/strong> their highest level of such thefts on record. The country now accounts for two-thirds of digital asset thefts globally<\/a>.<\/p>\n 2. Exclusive: Joe Biden is sending top diplomats to Damascus to meet Abu Mohammed al-Jolani,<\/strong> the leader of the Islamist rebels who toppled Syria\u2019s dictator Bashar al-Assad. The meeting would be the first formal in-person contact between the US and leaders of Hayat Tahrir al-Sham, which is designated a terrorist group by Washington<\/a>. <\/p>\n 3. Tulip Siddiq, Treasury minister responsible for the City of London, has been named in a Bangladesh corruption probe <\/strong>into accusations that her family embezzled $5bn<\/a>. Siddiq has declined to comment on the claims relating to former prime minister Sheikh Hasina \u2014 Siddiq\u2019s aunt \u2014 and a $12bn nuclear power plant that Bangladesh is building with Russian assistance.<\/p>\n 4. A French court has found Dominique Pelicot guilty of repeatedly drugging and raping his wife over decades,<\/strong> and inviting more than 50 men to participate in the abuse in their family home. Judges sentenced the 72-year-old Pelicot, who had admitted to the crimes, to the maximum penalty of 20 years in prison. Read more on the conclusion<\/a> to a case that has shocked people around the world. \u00a0<\/p>\n 5. US House Republicans have crafted a new spending bill that acquiesces to Donald Trump\u2019s demand<\/strong> to seek a two-year extension to the debt limit in order to avoid a government shutdown<\/a> by the end of the week. But Democrats bashed the proposal, putting into question whether it had enough votes to pass before a Friday night deadline.<\/p>\n The Financial Times made Donald Trump its \u201cPerson of the Year\u201d in 2016, a month before his inauguration as US president. He would end his first term helping to goad a mob assault on Capitol Hill, and much of the world agreed at the time that he had been, in the words of Joe Biden, \u201can aberrant moment\u201d. Then came the most dramatic political comeback in modern US history. This year, the FT has again picked Trump because of his remarkable return to power. It is no longer possible to dismiss him as a blip<\/a>.<\/p>\n How well do you know the jobs market? Test your knowledge on trends such as hybrid schedules, the gender pay gap and AI hiring with the FT\u2019s new \u201cdraw your own chart\u201d game<\/a>.<\/p>\n Over the past three months, Lucinda Smyth has watched 100 Christmas movies, a gruelling watchathon that resulted in a stiff neck and an eye twitch. But she has emerged with a delightful deep-dive into one of the most critically overlooked genres<\/a>, just in time for the holiday. <\/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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Five more top stories<\/h3>\n
FT Person of the Year<\/h3>\n
We\u2019re also reading\u2009.\u2009.\u2009.\u2009<\/h3>\n
DIY chart of the day<\/h3>\n
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Take a break from the news<\/h3>\n
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