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Donald Trump, the New York tycoon running for the Republican nomination, and Bernie Sanders, Hillary Clinton’s Democratic rival, won decisive victories in Tuesday’s New Hampshire primaries, underscoring the populist mood that has upended the 2016 White House race.
Mr Trump won so many different demographics that the Republican party can no longer view him as an outsider candidate who appeals only to blue-collar males with relatively low levels of education.
The US establishment’s worst nightmare is coming true, writes Ed Luce. “Forget whether they happen to be Democratic or Republican. With record turnouts and by margins few could have imagined possible a few weeks ago, New Hampshire’s voters repudiated America’s elites.” Winners and losers (FT, WaPo)
In the news
Saudis consider Syria ground troops The kingdom is discussing plans to deploy troops with regional allies, including Turkey, for a safe zone in Syria. It marks a last-ditch effort to keep alive the rebellion, which is at risk of collapse under a Russian-backed assault by Syrian regime forces. Western officials have dismissed the plans as lacking credibility. After four years of brutal civil war, Syria this week became even more of an uncontrollable military, diplomatic and humanitarian disaster. (FT, Wapo)
Court blow to Obama climate plans The US Supreme Court struck a damaging blow to President Barack Obama’s effort to leave a legacy of action on climate change by ordering a halt on implementing the centrepiece of his plans. A divided court granted emergency requests by officials of mostly Republican-led states and business groups to delay the regulation while they challenge its legality. (FT, WSJ)
Legal breakthrough for Google car In a milestone for Google’s self-driving car efforts, the US National Highway Transportation Safety Administration has said the computer inside Google’s self-driving car can be considered the “driver” of the vehicle. Until now, any car without a human driver could not be considered roadworthy. (The Verge)
Deutsche Bank considers bond buyback Germany’s biggest bank is considering buying back several billion euros of its debt, as it tries to shore up the tumbling value of its securities against the backdrop of a broader rout of financial stocks. (FT)
EU probes suspected bond market rigging Regulators in Europe have opened a preliminary cartel investigation into possible manipulation of the $1.5tn government-sponsored bond market, in the latest efforts to root out rigging involving financial traders. The inquiry comes amid revelations that the US and UK authorities are also investigating the market. (FT)
Bank bosses should be charged That’s the recommendation of Phil Angelides, who chaired the commission that produced the US government report on the global financial crisis. In a letter to the US attorney-general, Mr Angelides challenges authorities to take action against senior executives for misconduct leading to the recession before the 10-year statute of limitation expires. (FT)
It’s a big day for
Rate watchers Fed chair Janet Yellen will appear before a congressional panel to begin two days of testimony where she will deliver the bank’s semi-annual Monetary Policy Report. Here are five things to watch. (WSJ)
Twitter The company is set to announce full-year earnings results for 2015 amid growing concern from investors and users about the future of the social media platform. (Recode)
Food for thought
The UK and the EU need each other Brexit would be folly — for both sides, argues Martin Wolf. “The UK needs a voice in Europe. Europe also needs the UK to have that voice. It is a relationship of the head not of the heart. But it is still one very much worth having.” (FT)
Newspapers: writings on the page Even for an industry accustomed to financial beatings, 2015 was brutal for the newspaper business. With advertising revenues plummeting and increased competition from online and social media, the pressure is on to reinvigorate the business model of news. (FT)
New Hampshire gunslingers Lawrence Downes ventures into a world of law-abiding gun owners who are, or want to be, at ease with guns. “That’s not the feeling I had when I first held the 9-millimeter revolver, or fired the fully automatic rifle with a drum magazine . . . The world they inhabit, where good people strive to be as lethal as the bad ones, is not one I want to live in. Their response: You already do.” (NYT)
Happiness in the UAE Can a government regulate happiness? That’s the question being asked now by many in the United Arab Emirates, after the government announced that it would be creating a “minister of state for happiness” — as part of a broader leadership shake-up that also saw the creation of a minister of state for tolerance and a number of young politicians appointed. The FT’s Alan Beattie on why we should be careful about governments who tell us what makes us happy. (WaPo, FT)
Antarctic safety band at risk Researchers have put together a catalogue of all of the ice that empties into the ocean in Antarctica, allowing us to identify those that pose the largest threat of rapid sea-level rise. The results suggest stark differences among the ice shelves, and that the ones nearest to collapse are holding back meters of sea level rise. (arstechnica)
Video of the day
More gloom for Deutsche Bank? Germany’s biggest lender has suffered a continued sell-off in its shares and bonds. Why has Deutsche Bank suffered more than its peers, and what is its chief executive doing to reassure investors? The FT’s financial editor Patrick Jenkins explains in 90 seconds. (FT)