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The UK's energy partner. The UK. Good morning for the Financial Times. Today is Wednesday, January 17th, and this is your

FT news briefing. The Iowa caucuses tell us a lot about how the U.S US presidential election is going to shake out.

And paychecks aren't growing as much as they used to.

Plus the European Union is instituting attacks that will hit carbon heavy imports, but that might have some

unintended consequences for the rest of the world.

There creates a sort of two-tier system where all the sort of expensive and green production gets sent to Europe and then the steel

produced using coal will get sent to developing nations that have less stringent climate laws.

I'm Mark Filipino and here's the news you need to start a day. wage growth is slowing across major economies. Take the U.S. year-on-year growth for advertised wages and salaries

was 3.8% in December. That's down from 9.5% in late 2021. It's also down in the Eurozone and in the UK. Now this is the kind of

thing Central Bankers have been looking for in order to cut interest rates.

Lower wages mean that there's less money to spend, which in theory should help get inflation under control.

So by this point you probably know that Donald Trump won the Iowa

Caucus on Monday in a landslide. It was the first time voters got to choose

their pick for the Republican presidential nominee.

Now we all pretty much knew that that was going to happen going into the caucuses,

but the gap between first and second place was still astonishing.

Trump won by just over 50% of the vote.

We want to thank the great people of Iowa.

Thank you.

We love you all. Florida Governor Ron Desantis came in a very distant second in Monday's contest and former UN Ambassador

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