Boeing Surges Past Airbus; Balderton Cashes Out Big on Revolut; Nigeria and UAE Deepen Ties; and Trump Hits Iran Trading Partners With Tariffs

14th January 2025

Boeing outsold Airbus for the first time since 2018, securing 1,173 aircraft orders for 2025 as airlines show renewed confidence in the U.S. manufacturer’s recovery. In fintech, London’s Balderton Capital turned a £1 million seed investment in Revolut into a staggering $2 billion exit, underscoring the explosive potential of digital banking startups. Meanwhile, Nigeria and the UAE signed an economic partnership to boost trade, investment, and strategic collaboration, just as President Trump imposed a 25% tariff on any country doing business with Iran, sparking fears of global trade disruption. All this and more in today’s Read It And Eat!

Major Headlines 

• Boeing reports it outsold Airbus last year for the first time since 2018, with 1,173 airplane orders for 2025, while Airbus reported 889 sales for 2025

Boeing has announced that it outsold Airbus in airplane orders for the first time since 2018. Last year, Boeing secured a total of 1,173 orders for aircraft scheduled for delivery in 2025, reflecting increased demand and recovery in the aviation industry. In comparison, Airbus reported 889 orders for the same period, indicating Boeing's recent lead in new aircraft sales.

This shift marks a significant milestone for Boeing as it regains ground in the highly competitive commercial aircraft market. The higher number of orders suggests renewed confidence from airlines and leasing companies in Boeing’s aircraft models, possibly driven by new product offerings and evolving industry needs. It also underscores the ongoing recovery of the global aviation sector after disruptions caused by the pandemic.

The difference in orders highlights the competitive dynamic between the two aerospace giants. Boeing’s recent success may influence market share and production planning in the coming years, as both companies aim to meet the increased demand for passenger aircraft. Overall, this turnaround signals a positive outlook for Boeing’s aircraft sales and the broader aviation industry’s recovery trajectory. The Guardian

• London VC firm Balderton Capital has turned its £1 million seed investment in Revolut into $2bn after cashing out its stake in the fintech.

London-based venture capital firm Balderton Capital has achieved remarkable success by turning its initial £1 million seed investment in Revolut into $2 billion. This extraordinary return showcases the explosive growth potential of fintech startups that leverage technology to disrupt traditional financial services. Revolut’s rapid expansion and innovation have made it one of the most prominent digital banking platforms globally, and Balderton’s early backing has now resulted in a highly lucrative exit.

This success adds to Balderton’s impressive track record in fintech investments, including the sale of GoCardless in a $1 billion deal and the acquisition of Nutmeg by JPMorgan for £700 million. These high-profile exits demonstrate the firm’s ability to identify promising startups and support their growth toward substantial valuation milestones. Such achievements reinforce Balderton’s reputation as a leading investor in innovative financial technology companies.

The substantial returns from Revolut and other portfolio companies highlight a broader trend of increasing investor confidence in fintech innovation. As these companies continue to reshape banking, payments, and financial management, venture capital firms like Balderton are well-positioned to benefit from the ongoing digital transformation. This momentum signals a promising future for fintech startups and the investors backing them, driving further innovation in the financial sector. Financial Times 

• Nigeria, UAE sign economic partnership agreement

Nigeria and the United Arab Emirates (UAE) have signed an economic partnership agreement aimed at strengthening bilateral trade, investment, and cooperation between the two nations. The agreement, signed during a recent high-level meeting, is expected to foster economic growth and enhance strategic collaborations in various sectors, including technology, agriculture, and infrastructure development. Both countries express optimism that this partnership will create opportunities for businesses and promote sustainable development.

The agreement also focuses on facilitating easier trade policies, promoting investment flows, and encouraging joint ventures between Nigerian and UAE companies. This move is part of Nigeria’s broader efforts to diversify its economy away from over-reliance on oil exports and to attract foreign direct investment. UAE’s interest in Nigeria’s growing market and resource potential aligns with its regional economic ambitions, strengthening the relationship between the two nations.

Industry experts believe that this partnership could lead to significant economic benefits for Nigeria, including job creation, technology transfer, and increased capital inflows. It also signals a strategic shift towards deeper international cooperation, particularly with the UAE’s expanding global economic footprint. As both countries work to implement the terms of the agreement, it could mark a new chapter in their economic relations and boost Nigeria’s economic resilience in the years ahead.Punch

• Trump ‘immediately’ imposes 25% tariffs on countries that do business with Iran. That could include China

President Donald Trump announced the immediate imposition of a 25% tariff on any country that conducts business with Iran, a move that could dramatically escalate global trade tensions. The measure, announced via Truth Social, is unusually broad and would likely affect China most directly, given its extensive trade ties with both Iran and the United States. Trump framed the tariff as final and non-negotiable, signaling a hard-line approach to economic pressure.

Despite the declaration, the White House has yet to publish an executive order or provide clarity on how the tariffs will be enforced, raising questions among businesses and foreign governments. Legal experts note that implementation without formal regulatory guidance could invite court challenges and confusion at ports, customs agencies, and multinational firms.

Markets are now bracing for potential retaliation and supply-chain disruption, particularly in energy, manufacturing, and technology. The move underscores Trump’s continued use of tariffs as a geopolitical weapon, blurring the line between foreign policy and trade policy at a moment of heightened global uncertainty. CNN

Minor Headlines 

• Meta plans to cut around 10% of employees in Reality Labs division, NYT reports Yahoo.Finance

  
  

• DeepSeek founder Wenfeng's quant hedge fund gained 57% in 2025 (BBG)

  Bloomberg

• Trump denied involvement in DOJ's Fed subpoenas Financial Times 

  
  

• Data centers will need over $3T in investments through 2030. Bloomberg

  
  

• Middle East VC funding hit a record high. Bloomberg 

  
  

• Meta named ex-Goldman partner and Trump advisor Dina McCormick as president. APnews

• The death toll from protests in Iran has surpassed 2,500 people, with arrests exceeding 18,000. Reuters

  
  

• US greenhouse gas emissions rise by 2.4% in 2025, ending two-year decline; researchers link uptick to 13% increase in coal power, driven partly by AI data centers' energy demands and rising natural gas prices. Reuters

  
  

• Zoe Saldaña becomes highest-grossing actor ever with combined estimated box office gross of over $15.4B about a month after "Avatar: Fire and Ash”. Variety Australia