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DANIEL GARRAHAN: Welcome to the World in 60 Seconds from First FT. Royal Bank of Scotland has set aside $3.8 billion to cover a penalty from US authorities for misselling toxic mortgage securities, which helped fuel the 2008 market meltdown. The bank said it made the provision last year, and it takes the total amount set aside to pay for impending fines in the US just under $8.3 billion.
Mexico's president, Enrique Pena Nieto, has criticised Donald Trump's move to authorise construction of a border wall and said, again, that Mexico won't pay for it. But he's not yet cancelled the meeting with the US president planned for next week, despite heavy domestic pressure to scrap the talks.
A new payment data has revealed that the global use of Chinese renminbi dropped by 29.5% in 2016. The Society for Worldwide Interbank Financial telecommunication said capital controls and a strong dollar reduced its attractiveness. Beijing's ambitions for the currency have been thwarted by its fall against the dollar and its decline in its foreign exchange reserves. And for more of today's top stories, go to ft.com/firstft
