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Good morning from the Financial Times.

Today is Monday, January 23rd.

And this is your FT News Briefing.

Western banks are having a hard time quitting Russia,

and Elon Musk borrowed $13 billion by Twitter.

The first interest payment is due soon.

There are a number of things that Musk could do to meet this interest payment.

All of these options are painful.

But first we'll tell you about a big idea brewing in land America.

I'm Mark Philippineau, and here's the news you need to start your day.

This week, South America's two biggest economies will announce they're looking into a common currency.

If Brazil and Argentina move forward with this,

it could eventually become the world's second largest currency block.

The goal is to boost regional trade and reduce reliance on the US dollar.

The benefits are obvious for Argentina, which struggles with hyperinflation and a weak currency.

There are more concerns in Brazil, where the central bank has never really bought into the idea,

and others are nervous about hitching themselves to Argentina's volatile economy.

It's been nearly a year since Moscow began its full-scale invasion of Ukraine,

and if you recall, Western corporations reacted with dramatic decisions to exit Russia.

But today, many Western banks are still there.

...