Top jobs

Hello from the FT newsroom, where we are watching closely as Donald Trump’s new administration takes shape. So far, he is sticking firmly to his loyalists for the top jobs.

Elon Musk, Trump’s most fervent backer, has been chosen alongside Vivek Ramaswamy to lead a?“department of government efficiency” ?— conveniently for the?crypto-loving White House , this can be abbreviated to Doge, the name of a digital token Musk has promoted. Trump has said they will “slash” regulations and “dismantle” bureaucracy. The impact for businesses and consumers will undoubtedly be huge.

On the foreign policy side, his nominee for secretary of defence will be?Fox News host Pete Hegseth . The US army veteran’s main focus appears to be to root out the US military’s “woke agenda” which he believes was behind America’s stumbles in Iraq and Afghanistan.

My choices this week

1. Trump’s imminent return to the White House is making Europe nervous, and we can already see the effects. For one, Brussels is changing its spending policies to redirect tens of billions of euros to defence and security. (Free to read)
2. America’s Democrats may not have a lot to feel good about this week, but I can offer them one thing. Our international politics commentator Janan Ganesh is confident there will be a Democratic president in 2028 . (If you would like to read this column for free, you can do so on the FT Edit app , which gives you eight of our best stories every weekday, handpicked by our editors)
3. When Goldman Sachs sought to gain a foothold in China, it relied on Chinese banker Fang Fenglei. The relationship, however, turned out to be very costly for the US bank. Our reporters detail the untold tale of Goldman’s two-decade Chinese power struggle .
4. Reckless mismanagement is being blamed for Spain’s devastating floods that killed more than 220 people last month. What went wrong? Some are pointing to one person’s long lunch .
5. COP29 is under way in Baku, Azerbaijan, this week. But mere miles away from the UN climate summit, a dangerous greenhouse gas is being pumped into the air. This fascinating read reveals how companies are hiding powerful methane emissions . (Free to read)
6. Is it “the most badass airline on the planet?” While all other carriers have ceased flying to Lebanon, Middle East Airlines pilots are still weaving their way through Israeli air strikes, ferrying passengers out of the country and vital humanitarian aid in.

Thanks for reading,

Roula

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