April 5 update

Manhattan’s district attorney charged Donald Trump with 34 felony counts of falsifying business records over payments made to suppress stories about alleged sexual infidelities before the 2016 presidential election. Mr Trump pleaded not guilty. Prosecutors allege that those hush-money payments were misreported as legal expenses, in violation of election laws. The judge said that a trial could potentially start in January 2024. Never before has a former president been charged with a crime in America.

Finland officially joined NATO, becoming the 31st member of the military alliance, in a ceremony outside the organisation’s headquarters in Brussels. The Nordic country applied to join the alliance in May 2022, less than three months after Russia invaded Ukraine. Its accession has doubled the length of NATO’s border with Russia. Dmitry Peskov, a Russian spokesperson, said the move was an “encroachment” on Russian security.

The number of job openings in America fell to 9.9m in February from 10.6m a month earlier, in a sign that the country's stubbornly hot labour market is cooling slightly. The last time vacancies fell below 10m was in May 2021; they are yet to return to pre-pandemic levels. The unemployment rate is expected to remain at a historic low of 3.6%.

A Russian court charged Darya Trepova, an anti-war activist, with terrorism. On Monday Russian investigators released footage—likely taped under duress—of Ms Trepova confessing to leaving a bomb in St Petersburg café. The blast killed a blogger who had supported Russia’s invasion of Ukraine, and injured 30 others. The Russian investigative committee accused Ukraine of facilitating the attack; Ukraine denied involvement.

A British regulator fined TikTok, a video-sharing app, £12.7m ($15.9) for collecting and using the personal data of children without their parents’ consent. The Information Commissioner’s Office said that the app had failed to enforce age limits; as a consequence, 1.4m children in Britain were users in 2020. TikTok said that it “disagreed” with the decision.

Virgin Orbit, Richard Branson’s satellite-launch firm, filed for bankruptcy in America just 15 months after going public. The California-based company has struggled to raise money. Its last launch in January ended in failure because of an engine issue. Last month it halted operations and announced it would cut 85% of its workforce to save cash. Dan Hart, the firm’s boss, said he hopes to find a buyer for the business.

Pakistan’s Supreme Court ruled that the decision to delay elections in two provinces was “unconstitutional”. Last month the country’s government postponed votes in Punjab and Khyber Pakhtunkhwa, citing concerns over security and funds. Imran Khan, the former prime minister and leader of the main opposition party, had tried to force early elections in both provinces: his large following was angered by the delay.

Fact of the day: 56%, the proportion of Americans that believe a degree is no longer worth the time and money spent on it.

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PHOTO: GETTY IMAGES

European leaders go to China

Who speaks for Europe? That question will be tested in Beijing on Wednesday, when France’s president, Emmanuel Macron, arrives with the head of the European Commission, Ursula von der Leyen. Their visit takes place amid heightened tension between China and America, and worries about President Xi Jinping’s closeness with his Russian counterpart, Vladimir Putin. The two Western leaders want to persuade China to put pressure on Mr Putin over his war on Ukraine.

The two Europeans provoke different expectations. In a recent speech Mrs von der Leyen took a hard line towards China, arguing that Europeans should “de-risk” their commercial ties to the country, and screen proposals for investments in Chinese industries that have potential military uses, like AI. Mr Macron, who has also warned Europe to be wary of China, is nonetheless bringing with him more than 50 contract-hungry business leaders. It will require deft European diplomacy to manage such differences and resist Chinese attempts to exploit them.

PHOTO: REX SHUTTERSTOCK

Taiwan’s president meets America’s House Speaker

On Wednesday Taiwan’s president, Tsai Ing-wen, will meet the Speaker of America’s House of Representatives, Kevin McCarthy, in Los Angeles. The two countries do not have formal diplomatic relations: America’s recognition of China, which claims Taiwan as its own territory, precludes that. So Ms Tsai’s trip is a “transit” rather than an official visit. Although she has “transited” through America six times before, her meeting with Mr McCarthy will be her highest-level encounter yet. China sees it as tacit support for Taiwanese independence.

American and Taiwanese officials are determined to maintain a strong relationship in the face of rising tensions with China. Still, they have downplayed the significance of the trip, with good reason. Last year, when Nancy Pelosi, then the House speaker, visited Taiwan, China fired missiles over the island and conducted a mock blockade of it. Taiwan’s government is keen to avoid another crisis. But its efforts may not be enough. China’s government has threatened “resolute countermeasures” if the meeting goes ahead.

PHOTO: GETTY IMAGES

Sergio Ermotti returns to UBS

On Wednesday Sergio Ermotti will return to his old job as boss of UBS, the Swiss banking behemoth he led from 2011 to 2020. His comeback comes at one of the most challenging moments in the bank’s 161-year history. It is in the process of taking over Credit Suisse, its smaller Swiss rival, after the latter nearly collapsed following a series of missteps and scandals. On Tuesday Axel Lehmann, Credit Suisse’s chairman, told shareholders that he was “truly sorry” for failing to restore trust in the bank.

Mr Ermotti will have his work cut out. Naysayers worry that the creation of a Swiss “monster bank” is a bad idea: if a bank of its size fails, taxpayers might have to bail it out. Mr Ermotti needs to win shareholders’ approval while engineering a restructuring programme that will involve substantial job cuts. But he is not one to shy away from difficulty: in 2011 he took charge of UBS when it was still suffering from the aftermath of the global financial crisis.

PHOTO: UNIVERSAL PICTURES

Nintendo and Universal team up

Mario leaps from the small screen to the big one on Wednesday, as “The Super Mario Bros. Movie” opens in cinemas. The first Mario film, 30 years ago, was panned by critics. Nintendo has learned its lesson: the new, animated adventure was made with the help of Illumination, a studio owned by Universal Pictures. Illumination’s catalogue includes hits like “Minions” and “Sing”.

Nintendo and Universal are collaborating on more than movies. Super Nintendo World, a themed area in the Universal Studios park in Osaka, opened in 2021. This February Universal Studios in Hollywood launched a Nintendo-themed zone, too. For Nintendo, movies and parks help deepen fans’ love of Mario and other gaming franchises. For Universal, gaming provides a new source of intellectual property, as audiences complain of sequel-itis (Universal’s tenth “Fast and Furious” movie is out next month). Expect to see more video games at the cinema—and beyond.

PHOTO: HISTORIC ROYAL PALACES / COURTES

An exhibition about royalty and red carpets

In 2019 Sam Ratelle, a celebrity stylist, toured Kensington Palace in London. He was looking for inspiration for awards-season outfits, particularly for the Oscars, which he considered a “kind of a royal event” for celebrities. He asked Giles Deacon, a designer, to make something for the actor Billy Porter. Mr Deacon produced a dress with a gold top and patterned skirt inspired by the palace’s Cupola room.

The gown is one of more than 200 objects displayed in “Crown to Couture”, the largest exhibition ever hosted by the royal palace. The show demonstrates the similarities between 18th-century courtiers and 21st-century stars and the enduring importance of dressing the part. Just as those vying for royal favour would don expensive clothes at court, actors and models seek to stand out on the red carpet. The sumptuous gowns, suits and jewels are arranged across grand state apartments—surely the most apt place to admire them.