Traders have learned to live with the US president’s rhetoric, but the EU’s measures could go beyond tariffs and into capital markets

That’s how the chancellor’s luck runs these days. You arrange to open the day’s trading on the stock exchange to hail a “new golden age” for the City and bask in the sight of the FTSE 100 index above 10,000, and what happens? You have to skip off to the prime minister’s statement on Greenland.

In the event, Rachel Reeves needn’t have worried about the poor optics of overseeing a terrible day for share prices. Donald Trump’s weekend threat of tariffs on eight European countries, including the UK, did not cause an explosion in the London stock market. The Footsie closed down 0.4%, which doesn’t register on the doomsday radar, although European stocks did worse. There was even a £7.7bn bid for the insurer Beazley at a fat premium.

The Democratic representative plans to introduce a bill halting subsidies and tax advantages for the super-rich

They had the best seats in the house. When Donald Trump was sworn in as US president a year ago this week, tech titans Jeff Bezos, Tim Cook, Elon Musk, Sundar Pichai and Mark Zuckerberg were sitting closer than even some of his cabinet picks, living symbols of the US’s new gilded age.

“It was so gross,” Rashida Tlaib, a Democratic representative from Michigan, recalled in a phone interview. “It was like a reunion of all the billionaires. Some of them didn’t even like each other, but boy, did they come together for Trump.”

US president says he no longer feels the need to think ‘purely of peace’ in letter to Norwegian prime minister

Donald Trump has linked his repeated threats to seize control of Greenland to his failure to win the Nobel peace prize, as transatlantic tensions over the Arctic island escalated further and threatened to rekindle a trade war with the EU.

In an extraordinary text message sent on Sunday to the Norwegian prime minister, Jonas Gahr Støre, the US president wrote that after being snubbed for the prize, he no longer felt the need to think “purely of peace”.

People across the US are moving on from the empty platitudes MLK Day often evokes – and embodying King’s words

This year, the Dr Martin Luther King Jr holiday forces Americans to grapple with the crisis and protests that have spread across the country, particularly in Minneapolis. Each year on this holiday, we reflect on King’s life and legacy. We wonder about what he might make of this moment. Though civil rights protesters in the 1950s and 60s were repeatedly met with extreme state violence, Americans are now facing a president who is troublingly more powerful than past figures such as the notorious segregationist and Alabama governor George Wallace.

Militarized and masked federal police forces, abetted by a corrupted justice department, are expansive and employ far more deadly weapons against protesters today. Civil rights leaders often sought federal intervention to combat localized racial violence in the south. But now, local and state officials, along with ordinary citizens who have been galvanized by federal violence, are combating government crackdowns against immigrants and their neighbors. Over the span of a week, ICE agents killed an American wife and mother of three, Renee Good, and shot a man from Venezuela during a traffic stop. They have arrested and detained American citizens and have terrorized neighborhoods, businesses and schools. Their irrational, unprofessional and unconstitutional actions have caused chaos, panic and harm throughout American cities. This is far from the progress King dreamed of, and he used his last years to warn Americans to refuse comfort, the status quo, and bring oppression to an end.

EU should issue ‘smart’ response to US president’s threat of tariffs against several countries, say business leaders

• Could the EU hit back with its ‘big bazooka’?

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European industry has hit back at Donald Trump’s “ludicrous demands” to hand over Greenland or face a trade war.

A fresh round of tariffs on European exports would cost Germany and Europe dearly, the president of the German auto industry association has said, as he called for a “smart” response coordinated by Brussels.

Europe could use powerful but untested law amid pressure over Greenland – but it could also lose out from a trade war

• European industry hits out at ‘ludicrous’ demands

• Business live – latest updates

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Donald Trump’s threat to impose punitive US import tariffs on eight European countries opposed to his ambitions in Greenland has raised fears of a full-blown transatlantic trade war.

US justice department announced it is investigating protesters in Minnesota who disrupted church services

Kristi Noem first denied that federal agents were using chemical agents against protesters, then after being shown video footage turned to blaming the protesters themselves, as tensions continued to run high amid the Trump administration’s surge of federal officers into Minneapolis.

The head of homeland security, who has acted as spearhead for the Immigration and Customs Enforcement (ICE) operation in the city – known as “Operation Metro Surge” – told the CBS show Face the Nation on Sunday that her department had not used pepper spray against crowds.