Donald Trump says “a lot of strides” have been made on the USMCA trade deal, Morgan Stanley is cutting around 1,500 jobs worldwide, Amazon claims it was denied a $10bn US defence contract because of pressure from the president and SoftBank has agreed to sell its nearly 50 per cent stake in Wag back to the dog walking company. Plus, Paul Volcker has died at the age of 92. The FT’s Gillian Tett looks back on the life and legacy of the former Federal Reserve board chairman.

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