FirstFT: Biden makes surprise visit to Kyiv

US president Joe Biden has made a surprise visit to Kyiv in a dramatic show of American commitment to Ukraine ahead of the first anniversary of Russia’s invasion.

The stopover, which comes ahead of Biden’s pre-announced trip this week to Poland’s capital, Warsaw, was shrouded in secrecy because of security concerns.

The visit to the Ukrainian capital by Biden comes as China’s top diplomat landed in Moscow for talks on a possible peace settlement to end the year-long war, according to local media reports.

Russia’s Kommersant newspaper reported earlier today that Wang Yi had arrived in the Russian capital. Wang said over the weekend that China would soon publish a peace proposal based on principles laid out by China’s president Xi Jinping, including territorial integrity and “the sovereignty of all countries”.

On the eve of Biden’s visit to Warsaw, Polish president Andrzej Duda called on Nato powers to give post-war security guarantees to Ukraine. He told the Financial Times that promises of security guarantees “would be important” for Ukraine and the morale of its soldiers by underscoring “this feeling that Nato stands with them”.

“I thought it was critical that there not be any doubt, none whatsoever, about US support for Ukraine in the war,” Biden said during joint remarks with Ukrainian president Volodymyr Zelenskyy.

“I’m here to show our unwavering support for the nation’s independence, sovereignty and territorial integrity.”

Biden will make a stout defence of the US’s involvement in the war in a key speech tomorrow in Warsaw to mark the anniversary of Russia’s full-blown invasion of Ukraine.

The flurry of diplomatic activity today follows a warning by US secretary of state Antony Blinken at the Munich Security Conference on Saturday that China was preparing to provide lethal arms and ammunition to Russia to help it execute its campaign in Ukraine. Blinken warned such a move would have “serious consequences” for the US-China relationship.

Speaking at the same conference in Munich, however, Wang defended China’s relationship with Russia and said the US would never dictate ties between the two countries.

• FT subscriber event: To mark the first anniversary of Russia’s full-blown invasion of Ukraine, the FT will be holding an exclusive webinar for subscribers to discuss the future of the war, with FT correspondents and special guests. Register for free.

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1. Meta to launch subscription service For up to $14.99 a month, Facebook and Instagram users can get a verification badge, direct access to customer support and extra impersonation protection, Meta chief Mark Zuckerberg announced yesterday. Called Meta Verified, the new service will be rolled out first in Australia and New Zealand this week.

2. Hedge fund shuts down after half its assets trapped on FTX Galois Capital, which last year managed about $200mn in assets and was one of the biggest crypto-focused quantitative funds, told investors that it had halted all trading and unwound all its positions as it was no longer viable, according to documents seen by the FT.

3. Sunak hopes to seal N Ireland deal soon The UK prime minister is pressing to seal a deal with the EU on post-Brexit Northern Ireland trade rules as early as tomorrow, rejecting calls from Boris Johnson to take a more confrontational approach. Rishi Sunak’s officials held talks with their Brussels counterparts yesterday on how to give Northern Ireland politicians a say in the application of EU law.

4. World Bank members split on reforms Developing nations have warned against reforms at the World Bank that would imperil its triple-A credit rating and increase funding costs after Trump appointee David Malpass’s early departure. Shareholders and economists have argued the bank could provide more climate finance by expanding its balance sheet and taking on more risk.

5. South Korea’s ruling party leader hints at need for nuclear weapons Chung Jin-suk, the leader of South Korea’s ruling People Power party, has warned that the country may have to “seriously consider” developing its own nuclear weapons as a deterrent to its northern neighbour. North Korea today fired two short-range ballistic missiles, following the launch on Saturday of what Pyongyang claimed was a Hwasong-15 intercontinental ballistic missile, which experts believe is capable of striking the mainland US.

The day ahead

President’s day Today is a federal holiday in the US to mark George Washington’s birthday. Equity and bond markets as well as government buildings will be closed.

EU meeting The EU’s foreign ministers will meet in Brussels to discuss the war in Ukraine.

Israel legal reform The Knesset will hold the first reading of a contentious bill that aims to curb the powers of the judiciary.

What else we’re reading

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Goldman chief prepares to explain himself Earlier this month, David Solomon admitted to mistakes that resulted in deep job cuts at Goldman Sachs. He now prepares to face shareholders at the bank’s second investor day at its headquarters in Manhattan. Solomon will try to reassure them that a painful fall in profits in the fourth quarter does not mean Goldman is moving in the wrong direction.

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Early bidders pitch competing visions for Manchester United Sir Jim Ratcliffe, the billionaire founder of UK chemicals group Ineos, and Sheikh Jassim bin Hamad Al Thani, the son of Qatar’s former prime minister, have launched their bids for one of the world’s most valuable sporting teams.

CEO whisperers: who does the boss turn to in their hour of need? Some leaders use trusted insiders, others rely on “professional critics” to tell them uncomfortable truths. Oliver Balch spoke to a range of chief executives to hear their stories. “CEOs often lack candid challenge . . . and instead end up in a little echo chamber, which is when companies are in danger of getting things horribly wrong,” said one CEO.

Take a break from the news

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