The House of Representatives on Wednesday will vote on whether to impeach Donald Trump for a second time after Mike Pence ruled out invoking the 25th amendment to remove the president from office for inciting the attack on the US Capitol.

In a letter to House Speaker Nancy Pelosi, the vice-president said: “I do not believe that such a course of action is in the best interest of our nation or consistent with our constitution.”

In his first unscripted comments since last week’s attack on the Capitol, Mr Trump on Tuesday said that Democrats’ efforts to impeach him for a second time were “causing tremendous anger” and that he bore no responsibility for his supporters’ attack last week.

Michael Sherwin, the acting US attorney for the District of Columbia, said he expected “hundreds” of those involved in last week’s violence to be charged with criminal offences as the FBI raced to track down the insurrectionists before Joe Biden’s inauguration.

Meanwhile, Liz Cheney sent shockwaves through Washington when she said she would vote to impeach Mr Trump. Ms Cheney, the third-ranking Republican in the House and someone who is seen as a potential future leader of the GOP, was joined by John Katko from New York, Adam Kinzinger from Illinois and Fred Upton from Michigan. Mitch McConnell, Senate majority leader, is also reportedly pleased with the impeachment efforts.

The backlash against the Republicans has led many donors to cut their support. But on Tuesday a new anti-Trump group of Republican donors pledged $50m to help GOP lawmakers who support Mr Trump’s impeachment. What took corporations so long, asks Brooke Masters. And will their disgust last? (FT, NYT)

The pharmaceutical industry has warned against straying from tried-and-tested dosing intervals for Covid-19 vaccines, saying doing so risks public confidence in the shots. Follow the latest developments on our live blog. (FT)

Stream chart showing 7-day moving average of Covid deaths in global regions. Covid-19

Exclusive: Vanguard’s assets hit record $7tn Vanguard’s assets under management have surged beyond the $7tn mark for the first time after the investment industry’s fiercest price competitor attracted net cash inflows of $186bn last year.

Joe Biden poised to name foreign policy expert as Asia tsar Kurt Campbell, a veteran foreign policy expert, is to serve in the newly created role of Asia tsar under Joe Biden. The move is designed to reflect the growing importance to the incoming administration of US-China relations. (FT)

Visa drops planned acquisition of Plaid Visa has dropped its deal to buy fintech start-up Plaid for $5.3bn after the US Department of Justice sought to block the transaction on antitrust grounds. “We are confident we would have prevailed in court,” Al Kelly, chief executive of Visa, said, adding the company axed the deal to avoid “protracted and complex litigation”. (FT)

UniCredit’s chief executive hunt narrows UniCredit has approached some of Europe’s top available bankers, including Andrea Orcel, Tidjane Thiam and Martin Blessing, as it looks to appoint a new chief executive after a dispute over the Italian lender’s future. The board could make a decision within the next four weeks. (FT)

Canada’s Couche-Tard in takeover talks with France’s Carrefour Canadian convenience store group Alimentation Couche-Tard has approached France’s Carrefour about a takeover that would combine two retail groups jointly worth more than $50bn. (FT)

WhatsApp fights back as users flee to Signal and Telegram Facebook is scrambling to deal with a sudden competitive threat to its messaging platform WhatsApp after a change to its terms of service sparked privacy concerns and prompted users to turn to rivals such as Signal and Telegram in droves. (FT)

Affirm prices above range in further sign of hot IPO market Affirm, the consumer lender led by PayPal co-founder Max Levchin, sold shares well above its expected price range during an initial public offering, in a sign of the continued exuberance for new US listings. (FT)

Sheldon Adelson dies aged 87 The US casino magnate and prominent Republican donor and philanthropist, has passed away after a long illness, his wife announced on Tuesday. He was 87. (FT)

US inflation figures Today will see the release of the latest US consumer prices data as investors brace for a surge in prices this year. A consensus forecast, compiled by Bloomberg, predicts a month-on-month rise of 0.4 per cent in the consumer price index for December and a year-on-year increase of 1.3 per cent. (FT)

Line chart of US 10-year break-even rate, % showing Market measures of inflation expectations climb

Virgin Orbit launches rocket Virgin Orbit will make its second attempt to launch a rocket from a jumbo jet after the first was aborted last May. The 13th European Space Conference concludes the same day. (FT)

Bitcoin leaves traditional money managers queasy Bitcoin has just endured its worst bout of tumult: at one point on Monday, it traded $10,000 below the peak of almost $42,000 days earlier. The jolt of volatility has dulled hopes that large pension funds and traditional investors will pile into the most actively traded cryptocurrency anytime soon. (FT)

Bitcoin, the mother of all bubbles?

Why the Republican party will be hard to rescue Their first problem is the depth and age of the internal rot. Republicans have to undo decades of flirtation with paranoid elements, not just five years’ worth, writes Janan Ganesh. The party has not policed its right flank for a long time. (FT)

The EU’s Turkish problem Furious at the preconditions, Recep Tayyip Erdogan almost walked away from the EU before Turkey’s effort to join it had officially begun. More than a decade and a half later, the country is further away than ever from joining the bloc, with many EU diplomats scarred by years of spats and sceptical of a change in the relationship. This is the second part of a series exploring Turkey’s geopolitical ambitions. Read the first here. (FT)

After Merkel: the battle for her party’s soul Below the surface a fierce battle is raging for the soul of Angela Merkel’s Christian Democratic Union, a party that has governed Germany for 50 of the past 70 years. With the leadership election only three days away, it will stake its claim to another four years in power after losing some of its identity. (FT)

The electric car future is finally taking off There have been many false dawns for the electric car, writes our editorial board. But as policymakers look to rebuild their economies after the pandemic, Norway’s electric vehicle successes provide an important lesson on how to help change consumer behaviour and spur private-sector investment. (FT)

New series of Sex and the City announced (FT)