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JOSH DE LA MARE: Welcome to "The World in 60 Seconds" from FirstFT. The White House has launched a review of its policy toward North Korea in response to a growing nuclear threat from Pyongyang. Former President Barack Obama warned this would represent Donald Trump's most pressing national security challenge. James Mattis, the US Defence Secretary, is travelling to South Korea and Japan to discuss ways of tackling the threat.
Facebook has reported soaring earnings for the fourth quarter of 2016, with revenue rising 51%. The news came despite concerns of slower sales when the networking site hit its limit on the number of advertisements it puts in its news feed.
And Deutsche Bank has posted its second consecutive annual net loss, with 2016 numbers marred by a mixture of litigation charges and restructuring costs. Germany's biggest bank announced it had made a net loss of EUR 1.9 billion in the final three months of 2016. This included EUR 1.6 billion of litigation charges, the bulk of which were linked to a $7.2 billion mortgage misselling settlement in the US. And we've more stories for you at ft.com/firstft.
