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Questions over Donald Trump’s foreign policy continue to dominate the US presidential transition. While Mr Trump appeared to have won over Japanese Prime Minister Shinzo Abe — who called him “a leader I can trust” after a face-to-face meeting at Trump Tower — there are lingering fears over the president-elect’s stance on Russia. President Barack Obama warned his successor against striking “convenient” deals with Russian President Vladimir Putin ahead of attending the Apec summit in Peru on Friday. Mr Obama also assailed the spread of fake news in his strongest comments since last week’s election.

Mr Trump’s election victory has not only shaken up foreign policy, it has also wrongfooted investors and caused unexpected ructions in financial markets. Many investors say that his presidency heralds an entirely new market regime, but the details of this new order are — for now — unclear. (FT, NYT)

In the news

Volkswagen slashes jobs The German carmaker will cut 30,000 jobs around the world by 2020 as it shifts investment to electric cars in the wake of the diesel scandal. The company hopes the restructuring will free up €3.7bn a year for investment in developing electric vehicles. (FT)

Bombs rain down on Aleppo The deathtoll in the besieged east of Aleppo has climbed to 150 as government air strikes pummel the city. Between bombardments, residents scramble through the rubble for their relatives’ remains, gathering up body parts in plastic bags so they can bury their dead. (Al Jazeera, FT)

I spy Vietnam has quietly extended a runway on Spratly Island to enable the deployment of maritime spy aircraft, as Hanoi bolsters its defences against China in the disputed South China Sea. (FT)

Made in America Foxconn, a key assember of iPhones, is considering a move to shift production to the US. The Taiwanese assembler has been asked by Apple Inc, its biggest customer, to look into making the smartphones Stateside. The move may be pre-emptive: president-elect Donald Trump has pledged to push US companies to make more of their products at home. (NAR)

Turkey’s not-so-free press Turkey now has outstripped China as the world’s biggest jailer of journalists in an apparent effort to muzzle not just the press, but free speech generally. More than 3,000 Turks have faced charges for insulting the president, including a former Miss Turkey. (NYT)

It's a big day for

Asia-Pacific Economic Cooperation Leaders from Apec’s 21 member countries will begin the group’s summit in Peru on Friday. For years, negotiations over the Trans-Pacific Partnership had dominated discussions. But with Mr Trump’s election on antitrade rhetoric, rival plans are likely to gain more attention. (FT)

Food for thought

Metric martyrs Britain’s vote to leave the EU has been blamed on popular anger over immigration and inequality. But for some, antipathy to the EU regulations goes deeper: to the imposition of the metric system. Meet the metric resistance army, whose footsoldiers scour Britain to cleanse its signs of EU-regulated metric measures. (FT)

Fake-news writer confession A 38-year-old impresario of a Facebook fake-news empire feels responsible for Mr Trump’s victory. “His followers don’t fact-check anything — they’ll post everything, believe anything. His campaign manager posted my story,” he claims. Meanwhile, Buzzfeed has done a sweeping piece explaining in detail the role that Facebook played in the recent political turmoil, linking Brexit, the rise of Marine Le Pen in France and Donald Trump in the US with the viral “ice bucket challenge”. (WaPo, Buzzfeed)

Modi’s bonfire of the rupees The stealth decision to abruptly cancel and replace most of India’s currency is a radical economic experiment, and political gamble, with few precedents. Debate is raging over how effective the draconian measure will be in combating “black” money. (FT)

Saudi’s former oil king Ali al-Naimi, Saudi Arabia’s former oil minister, talks about his frustrations with Opec, his early years as a nomad and why he was right to maintain high production levels despite the collapse in the oil price. (FT)

High stakes In a few weeks, the world will know whether Sola — a drug that pharma group Eli Lilly has spent many years developing — really does slow Alzheimer’s disease. (FT)

Reducing ill health A special report on maternal and child health showcases promising innovations that are looking to expand: from a bond to spread the use of “kangaroo mother care” in Cameroon to social insurance in Nigeria. (FT)

Video of the day

Lessons from a ‘rogue’ trader Kweku Adoboli, the former UBS trader whose unauthorised trading led to losses of $2.3bn at the Swiss bank, talks to the FT’s Lindsay Fortado about the lessons the banking industry can learn from his experience. (FT)

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