Commercial Awareness

I think a key point to note here is that commercial awareness doesn't just mean following the business world news - I have heard it explained (in various law firm insight events) as an awareness and understanding of how businesses work, what might impact them, where challenges/opportunities might arise and where the law comes into all of this. Obviously you do need some sort of awareness of what has been happening in the world and I'm sure reading the FT every day will help, but you do need to actively reflect on the potential impact of what you're reading about.

Instead of worrying about reading the FT every day for months (unless you have spare time and it fascinates you!) I would recommend keeping an eye on the headlines and reading an article from time to time, but when you do read it really try to dissect it and think about the questions it raises. It's very common in TC interviews to be given a FT article and have a 30-minute discussion about it, in which your interviewers are most interested in how you approach the problems and ambiguities. When you do read articles, try to pick out things that interest you - you'll be much more likely to remember them and have things to say about them in an interview.

Hope this helps!
(For context, I've interviewed at various firms and have a MC TC - I have only ever read the FT as panic interview prep)

I also recommend that you learn a list of business and economics terminology as part of your commercial awareness, such as, turnover, market share, government bonds etc. I also recommend that you find out what the biggest clients are in the firm you are applying and then research their sector. So if the airlines are the biggest client, you could read a magazine called Aviation for latest commercial news.