Hello from the FT newsroom, in another stunning week of geopolitical manoeuvres. 

First, Donald Trump cut off military aid and intelligence sharing to Ukraine, leaving Kyiv potentially at risk of running out of US weapons by the summer. It was an extraordinary blow to its war effort and a boost to Russian President Vladimir Putin. 

Then late on Tuesday, Germany unveiled plans for massive investment in the military and infrastructure — set to be the country’s largest economic stimulus since reunification. This historic move from Berlin could provide the political and economic leadership Europe needs, wrote the FT’s editorial board.

1. Washington and Kyiv are close to signing a deal granting the US access to Ukraine’s mineral resources, driven partly by Trump’s persistent fascination with tapping into rare earth metals. Our commodities correspondent explained why rare earths matter so much to Trump.

2. How much is WFH worth to you? For Deloitte’s tax staff in the US, this could become a real calculation. Our reporters revealed that office attendance could be considered in bonus calculations at the firm.

3. Trump has made it clear that he wants the US to “reclaim” the Panama Canal. A remarkable $23bn deal struck between billionaire families this week underscored the influence of the president’s words on global commerce. (Free to read)

4. Brookfield Corporation is one of the world’s most complex organisations, a labyrinth of funds, partnerships, trusts and companies that control $1tn of assets. A new FT investigation reveals the opacity behind the balance sheets.

5. Jim Ratcliffe may know how to turn around an ailing industrial company, but what about a football club? In Data Points, John Burn-Murdoch answers an important question: is Manchester United the worst-run football club in the world?

6. On the outskirts of Johannesburg, Samkelo needed to take USAID-funded drugs every day to stay alive. Then he heard the news: Donald Trump was shutting down the programme. This powerful dispatch reveals the human cost of suspending billions in foreign aid. (Free to read)

Thanks for reading,

Roula

PS: Sign up to get a fascinating story delivered to your inbox every weekday with our One Must-Read newsletter. Stories are free to read every Friday.