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Japan has signalled it is prepared to hold out for a better deal with US President Donald Trump over trade tariffs, and investor Bill Ackman is trying to create a rival to Berkshire Hathaway. Plus, Poland’s election this weekend is shaping up to be a turning point, not only for domestic politics, but also for the war in Ukraine. MENTIONED IN THIS PODCAST: Japan to hold out for better trade deal with US https://on.ft.com/43vPKGF Can Bill Ackman create a ‘modern-day’ Berkshire Hathaway? https://on.ft.com/3SJACPH Polish women turn on Donald Tusk over abortion rights https://on.ft.com/3H9QuIJ Vladimir Putin and Donald Trump cast shadow over Poland’s election https://on.ft.com/3F3Spy7 Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, Lulu Smyth, and Marc Filippino. Additional help from Simon Panayi, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/09424bb0-f53b-4e4b-ac77-fd46796fe1a4 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
CoreWeave reported a 420% rise in revenue in its first quarter as a listed company, the furious rally in US assets has caught big investors off guard, and Nvidia is seeking to build a research and development centre in Shanghai. Plus, the Kurdistan Workers’ party, the militant group that has been in conflict with the Turkish state for more than 40 years, said it would disband. MENTIONED IN THIS PODCAST: CoreWeave beats estimates in first results as a listed company https://on.ft.com/4knoRKJ Wall Street’s sudden rebound catches investors ‘offside’ https://on.ft.com/3F23LCL Nvidia plans Shanghai research centre in effort to redesign chips for China https://on.ft.com/43vurFd Kurdish militant group PKK says it will disband and end Turkey conflict https://on.ft.com/4koJxlL Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, Lulu Smyth, and Marc Filippino. Additional help from Sam Giovinco, and Michael Lello. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/14000de9-5634-4c78-8730-dbc32c24e5d2 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
The White House unveiled what it says is $600bn worth of defence and artificial intelligence deals with Saudi Arabia, UnitedHealth Group shares sink to the lowest level in more than four years, and US inflation fell to 2.3 per cent in April. Plus, Nissan plans to axe 15 per cent of its global workforce and almost halve its number of plants. MENTIONED IN THIS PODCAST: Donald Trump lauds Saudi Arabia as he unveils AI and defence deals https://on.ft.com/4mfrIXK UnitedHealth chief Andrew Witty steps down as shares plunge https://on.ft.com/42XH4bW US inflation falls to 2.3% in April as tariff effect looms https://on.ft.com/4mebcrb Nissan to axe 15% of global workforce and almost halve number of plants https://on.ft.com/4km2J3A Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, Lulu Smyth, and Marc Filippino. Additional help from Simon Panayi, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s co-head of audio. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/4741bf4c-1e4f-4749-8450-57e42a25d96d * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Global stocks surged after the US and China slashed tariffs for 90 days, and Brussels is preparing to use capital controls and tariffs against Russia. Plus, OpenAI and Microsoft are rewriting the terms of their multibillion-dollar partnership in a high-stakes negotiation. MENTIONED IN THIS PODCAST: Who blinked first? How the US and China broke their trade deadlock https://on.ft.com/4dhBPHN Wall Street stocks soar on US-China tariff reprieve https://on.ft.com/4k24kvi EU readies capital controls and tariffs to safeguard Russia sanctions https://on.ft.com/3S15I5e OpenAI negotiates with Microsoft to unlock new funding and future IPO https://on.ft.com/42V3cUr Today’s FT News Briefing was produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Simon Panayi, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/27ef6026-bf3e-4819-9097-4af37d86834e * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
US officials say they made “substantial progress” on trade talks with China, and trade optimism has driven German stocks to record highs. Plus, US President Donald Trump will visit Saudi Arabia, Qatar, and the United Arab Emirates for the first foreign trip of his second term, and the FT’s Christopher Grimes explains why Disney has bounced back amidst a struggling stock price. MENTIONED IN THIS PODCAST: Donald Trump seeks bromance and billions as he heads to Gulf https://on.ft.com/4mg7a1C German stocks hit record high as trade optimism buoys markets https://on.ft.com/434kYDq US claims ‘substantial progress’ after two days of trade talks with China https://on.ft.com/43cv5pU Disney plans first Middle East theme park in Abu Dhabi https://on.ft.com/4500KgI Today’s FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, and Marc Filippino. Additional help from Katie McMurran and Peter Barber. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/202fd020-8b25-4813-8d08-9fbaeaf2aa27 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
DESCRIPTION: US President Donald Trump is in an ongoing standoff with America’s top universities. Harvard lost $2.3bn in federal funding after it refused to comply with the administration’s demands on admissions and diversity, equity and inclusion. Columbia complied with a similar set of demands, but still lost $400mn. The FT’s global education editor Andrew Jack and acting Washington correspondent Myles McCormick join to discuss the issues at hand and why other universities could be next. MENTIONED IN THIS PODCAST: Trump to block Harvard from federal grants https://on.ft.com/42RNedM Harvard sues Trump administration over funding freeze https://on.ft.com/42PNI3X Sign up for the FT’s Swamp Notes newsletter here https://ep.ft.com/newsletters/56a64b704f693a0300dfab7e/subscribe Swamp Notes is produced by Katya Kumkova. Topher Forhecz is our acting co-head of audio. Special thanks to Pierre Nicholson. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
The US and the UK agreed to a trade deal, and the Bank of England cut interest rates by a quarter point. Plus, we hear from an FTC commissioner who was fired by US President Donald Trump and is challenging his dismissal. MENTIONED IN THIS PODCAST: US and UK seal first deal of Trump’s trade war https://on.ft.com/432IikT Robert Prevost becomes first American pope https://on.ft.com/3F0nNNV BoE cuts interest rates by a quarter point to 4.25% https://on.ft.com/42MCyNp Behind the Money: The FTC commissioner fired by Trump https://www.ft.com/content/92b922f9-5422-415f-a636-ad1589ba7248?accessToken=zwAAAZdKvKFnkdOSuSL5VCJBX9OmNq0VibpySAE.MEYCIQCMk9Qsg78_Gz2nQRV1J3JjvDGNLIa5GFbdPgrob-7i9QIhAJDKrQ8KkWI7Hs-FodbqTUBOulekn1d5qi1TFfcTJNzs&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902 Audio credit: White House and NBC The FT News Briefing is produced by Sonja Hutson, Lulu Smyth, Ethan Plotkin, Kasia Broussalian and Marc Filippino. Additional help from Katie McMurran, Michela Tindera, Katya Kumkova, Michael Lello, Peter Barber and Gavin Kallmann. Our acting co-head of audio is Topher Forhecz. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/46b03d33-10e2-4040-b8d9-cbef84aee835 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
The US scraps rule that aimed to limit exports of artificial intelligence chips, Pakistan vowed to retaliate after India launched air strikes against its neighbour, and the Federal Reserve held interest rates steady once again yesterday. Plus, Doordash’s expected acquisition of Deliveroo renewed questions about the UK’s ability to attract and retain listings. MENTIONED IN THIS PODCAST: US scraps Biden-era rule that aimed to limit exports of AI chips https://on.ft.com/3GLP4Es Pakistan vows to retaliate after India launches military strikes https://on.ft.com/4jKdqNa Federal Reserve holds rates steady as it balances risks from Donald Trump’s tariffs https://on.ft.com/4d72AOJ DoorDash’s grab for Deliveroo puts brakes on London’s tech hopes https://on.ft.com/3So5BRd The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/e3226483-dc58-4460-b7b3-72a759cd0722 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
India said it had carried out “precision strikes” on “terrorist infrastructure” at nine sites in Pakistan, Friederich Merz suffered a stinging defeat in the German Bundestag before being voted in as chancellor, and Washington and Beijing will this week hold their first trade talks since US President Donald Trump launched a trade war against China. Plus, Argentina is on the cusp of a copper mining boom that might cause problems for the country’s wine industry. MENTIONED IN THIS PODCAST: India launches military strikes on Pakistan https://on.ft.com/3GF2z8E Argentina’s wine heartland eyes copper riches https://on.ft.com/4jChHSQ US and China to launch formal trade talks https://on.ft.com/3RPhsYz Chancellor on pause: Bundestag stings Friedrich Merz on day one https://on.ft.com/3F2vwLd The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/fbea19b1-a034-4e8b-87e8-aaac3f73225e * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
OpenAI will remain under the control of the group’s non-profit arm, US stocks have wiped out the steep losses that followed US President Donald Trump’s tariff announcement, and the Bank of England is expected to cut interest rates on Tuesday. Plus, Meta’s AI ambitions face a legal test in one of the first trials over copyright infringement. MENTIONED IN THIS PODCAST: OpenAI ditches plan to convert to for-profit business https://on.ft.com/4iOApp9 Meta lawsuit poses first big test of AI copyright battle https://on.ft.com/3YuBxqS Bank of England expected to cut rates as US trade war hits growth https://on.ft.com/4m2v0NW US stocks wipe out steep losses that followed Trump’s ‘liberation day’ https://on.ft.com/3GCYcLi The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Michela Tindera, Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/5af9dd85-0dd9-45e7-8ad9-39511621d4a2 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
The world’s most famous investor says he plans to step down after six decades leading Berkshire Hathaway, and Chinese exporters are turning to third countries to get around 145 per cent US tariffs. Plus, local Nigerian oil companies are starting to replace foreign majors, and Israel calls up reservists to support its expanded operations in Gaza. MENTIONED IN THIS PODCAST: Warren Buffett to step down from Berkshire Hathaway after six decades https://on.ft.com/3EF1jlw Chinese exporters ‘wash’ products in third countries to avoid Donald Trump’s tariffs https://on.ft.com/44SwNiu Israel vows to hit back against Iran and Houthis after airport attack https://on.ft.com/3Z2KXd7 Credit: CNBC The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/85a5b1e6-6089-411f-a627-23b3c6dc5e53 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
US President Donald Trump has garnered a lot of criticism since he enacted his trade war. But there are people who still defend the tariffs, including Oren Cass, chief economist of the conservative thinktank American Compass. Cass is a contributor to the FT’s opinion pages, and he joins the FT’s US national editor and columnist Edward Luce to discuss why some conservatives still find value in tariffs. MENTIONED IN THIS PODCAST: Trump has no idea what he has unleashed https://on.ft.com/44TVhIe Europe must choose between America and China https://on.ft.com/42Hrktu Sign up for the FT’s Swamp Notes newsletter here https://ep.ft.com/newsletters/56a64b704f693a0300dfab7e/subscribe Swamp Notes is produced by Katya Kumkova. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Special thanks to Pierre Nicholson. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/9449d142-5554-47d8-99f1-f43690b6e246 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Amazon warned of the impact of Donald Trump’s global trade war and issued weaker-than-expected guidance for the second quarter, and Australians head to the polls this weekend caught in the crossfire of the US-China trade war. Plus, European banks had a great first quarter thanks to global market volatility. MENTIONED IN THIS PODCAST: Amazon falls after profit forecast misses expectations https://on.ft.com/3YYkmOp Australia: caught between a slowing China and a chaotic US https://on.ft.com/4cUxhqo UBS, Barclays and SocGen reap trading windfall from market turmoil https://on.ft.com/4iSHVQ4 The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Michela Tindera, Josh Gabert-Doyon, Persis Love Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/9071adeb-f553-4977-a739-00eb1ea8f276 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Microsoft posted better than expected quarterly earnings on Wednesday, Spain is trying to figure out what caused a massive power outage, and the Conservatives are bracing for heavy losses in local England elections. Plus, the FT’s Claire Jones explains what we can take away from the latest US GDP reading. MENTIONED IN THIS PODCAST: US and Ukraine sign natural resources deal https://on.ft.com/43aRKE8 Microsoft shares jump after software giant’s earnings top forecasts https://on.ft.com/4jBjgR6 US economy contracts at 0.3% rate as Trump tariffs prompt import surge https://on.ft.com/3Gz5yj5 Local elections: Tories braced for losses as England votes in five-party race https://on.ft.com/3EL1f3z How did Spain’s electricity grid collapse? https://on.ft.com/4lTChjd The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Michela Tindera, Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/ef6e5271-5c2a-47bf-afd3-b9c2f2d57bce * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Donald Trump unveiled more tariff relief for some carmakers, and shares in a number of companies surged in Tokyo after a plan for carmaker Toyota Motor to take one of its subsidiaries private. Plus, Wall Street economists forecast that US GDP shrank in the first quarter, and contrary to some stereotypes, Generation Z is leading the charge back to the office. MENTIONED IN THIS PODCAST: Wall Street banks predict GDP contraction after US trade deficit hits record https://on.ft.com/42MCH21 Donald Trump set to announce new car tariff climbdown in Michigan https://on.ft.com/4jTYYlo Japan shares surge after Toyota spurs hopes for wider corporate shake-up https://on.ft.com/3Ew1L5v Gen Z is leading the charge back to the office https://on.ft.com/4jXiKfX The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/2ac5681f-f5d7-4f90-a00d-2f4eb569ab71 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
The oil industry is bracing for its worst year since the pandemic, and Spain and Portugal are reeling from a massive power outage. Plus, the FT’s Emily Herbert explains why the flight into the Swiss franc is causing a headache for the country’s central bank. MENTIONED IN THIS PODCAST: Big Oil braced for worst year since pandemic as bumper profits recede https://on.ft.com/4lS2pem Spain declares state of emergency in the wake of huge power outage https://on.ft.com/42LawRa Swiss franc surge sparks bets on return to negative interest rates https://on.ft.com/4lR61x2 The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Flo Phillips, Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Canadians will head to the polls Monday to pick a prime minister, and a new US proposal to end the War in Ukraine would allow Russia to keep some of the territory it’s conquered. Plus, Hungary’s government may be funneling money to friendly news outlets, and major American companies are starting to speak up about Donald Trump’s trade war. MENTIONED IN THIS PODCAST: Canadians head to the polls to elect new prime minister https://on.ft.com/4lQtQ8m Putin and Trump envoy hold ‘constructive’ meeting, Russian official says https://on.ft.com/44MoFQD Trump and Zelenskyy hold ‘productive’ discussion at Pope’s funeral https://on.ft.com/4jPbAdz Hungary accused of illegal subsidies for pro-government media https://on.ft.com/3RF7IzX Consumer giants ring warning bells over Donald Trump’s trade war https://on.ft.com/4cNgZ2o The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/f01ef79c-7dd0-4798-bfdc-2bb98e31cdc8 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Just a few weeks ago, US President Donald Trump was ready to levy tariffs on basically every nation. Today, many of those tariffs have been paused or tempered. Additionally, this week he promised he will not be firing Federal Reserve chair Jay Powell, despite his earlier criticism. Should we expect more backstepping from Trump in the face of economic data? And what do the voters think of it all? FT economics editor Sam Fleming joins alongside Jon McHenry, vice-president of the conservative pollster North Star Opinion Research. MENTIONED IN THIS PODCAST: Trump claims to have received call from Xi Jinping and to have cut ‘200 deals’ on trade https://on.ft.com/3EGfqH0 Donald Trump says he has ‘no intention’ of firing Jay Powell https://on.ft.com/3EFJsL8 Sign up for the FT’s Swamp Notes newsletter here https://ep.ft.com/newsletters/56a64b704f693a0300dfab7e/subscribe Swamp Notes is produced by Katya Kumkova. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Special thanks to Pierre Nicholson. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Apple plans to shift the assembly of all US-sold iPhones to India as soon as next year, factories in China have begun slowing production and furloughing some workers in the aftermath of US tariffs, and Alphabet shares rose after it reported first-quarter profit surged 46 per cent. Plus, the Trump administration wants to stamp out one of America’s enduring financial pastimes: writing paper cheques. MENTIONED IN THIS PODCAST: Alphabet shares jump as Google search boosts profits https://www.ft.com/content/168e9ba3-e2ff-4c63-97a3-8d7c78802d40 Apple aims to source all US iPhones from India in pivot from China https://www.ft.com/content/5c4b2bc9-f0ac-46f3-a93b-cfa6273428f9 A crucial earnings season https://www.ft.com/content/6958ec27-9ec4-491f-81c8-950ce4772249 Is Trump’s drive to kill the paper cheque a ‘no brainer’? https://www.ft.com/content/b4ec8298-6977-498a-bec5-5db63a4f8850 Chinese factories slow production and send workers home as US tariffs bite https://www.ft.com/content/d5784258-4de3-44a1-94ae-6f763857b034 The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/9b0e6412-6d48-4322-9c06-5d9a89627e57 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Sir Keir Starmer and Ursula von der Leyen will on Thursday finalise plans for a new defence pact, US Treasury secretary Scott Bessent has accused the IMF and World Bank of “mission creep” and Boeing reported lower than expected losses. Plus, Tesla chief executive Elon Musk looks to right the electric-car company by reducing his role in the Trump administration. MENTIONED IN THIS PODCAST: UK and EU finalise plans for defence pact https://on.ft.com/42vhpaw Musk drives Tesla calmly through investors’ red lights https://on.ft.com/42FgEdC Scott Bessent accuses IMF and World Bank of ‘mission creep’ https://on.ft.com/44CoWpa Boeing prepared to redirect orders destined for Chinese carriers https://on.ft.com/3Yca7Wq Credit: Associated Press The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/f2131ef0-fdda-472a-9f11-f4aad48f57bb * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Tesla’s first-quarter adjusted profits dropped 39 per cent and the IMF has downgraded outlooks for G7 nations and big economies such as China and India. Plus, we take a look at whether BP can turn things around to catch up with its rivals. MENTIONED IN THIS PODCAST: Elon Musk to prioritise Tesla over White House role as profits slump https://on.ft.com/3Gzk75Z IMF warns of rising US recession risk and defends Fed policy https://on.ft.com/42B0pOF Vladimir Putin offers to halt Ukraine invasion along current front line https://on.ft.com/3S7ghn7 Will going back to basics restore BP’s fortunes? https://on.ft.com/3EIVzqC Donald Trump says he has ‘no intention’ of firing Jay Powell https://on.ft.com/42rt6Pr The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/e8794a73-c8ad-447e-be4a-61172eef2807 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Wall Street stocks dropped as President Donald Trump attacked Federal Reserve chair Jay Powell, Pope Francis passed away on Monday after leading the Catholic Church for 12 years, and more than half of nearly 1,500 business leaders support a shift to a renewables-based electricity system. Plus, Europe is now seeking to take advantage of China’s electric vehicle manufacturing expertise. MENTIONED IN THIS PODCAST: US stocks and dollar sink as Trump renews attacks on Fed chair Powell https://on.ft.com/4cNktSU Pope Francis dies aged 88 https://on.ft.com/3Y9W0kr Obituary: Pope Francis, reformer of modern Catholicism, 1936-2025 https://on.ft.com/4jphT7W Europe helped teach China to make cars. Now the tables are turning https://on.ft.com/3RXa1yj Companies make plans to shift to green energy despite Trump-era rollbacks, survey shows https://on.ft.com/3GvdzFs The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/4cbb14ee-01cd-4529-820b-322b5025515f * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Luxury goods were supposed to be making a comeback this year. But US President Donald Trump’s trade war has complicated that and things are looking grim for the industry. The FT’s fashion editor Lauren Indvik explains where things stand with LVMH, Prada and others. MENTIONED IN THIS PODCAST: Donald Trump’s trade war shatters hopes of 2025 luxury revival https://on.ft.com/3GgiFWb The FT News Briefing is produced by Katya Kumcova, Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Andrew Georgiadis, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/c0c1215a-116d-4afd-8432-d4cccc53f544 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Swamp Notes is taking this weekend off so instead we wanted to share the latest episode from our fellow FT podcast, The Rachman Review. Nuclear talks between the US and Iran began last weekend in Oman, and are set to continue in the coming weeks. President Trump has warned that if the talks fail the US could take military action against the Islamic republic – an idea that Israel's government is pressing for. In this episode, we unpack what a new nuclear deal with Iran might look like – and how it could change the geopolitical picture in the Middle East. Subscribe to The Rachman Review wherever you get your podcasts - please listen, rate and subscribe. Presented by Gideon Rachman. Produced by Mischa Frankl-Duval. Sound design is by Breen Turner. https://www.ft.com/content/819a2246-96eb-4730-85f4-ebe39ac91a61 https://www.ft.com/content/771f3b6f-75f9-4978-8bdb-f7834b9e7d04 https://www.ft.com/content/68e7eeb4-4785-4ba4-b730-0a20f2fd55e0 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
China’s imports of US liquefied natural gas have completely stopped for more than 10 weeks, and Japan’s chief trade negotiator leaves Washington without an immediate agreement after meeting Donald Trump. The European Central Bank has cut its benchmark interest rate by a quarter-point to 2.25 per cent. Plus, astronomers have found signs of biological activity on a planet 124 light years from Earth. MENTIONED IN THIS PODCAST: Astronomers claim strongest evidence yet of extraterrestrial life https://on.ft.com/4ilolvc Donald Trump weighs in on Japan trade talks but Tokyo team leaves without deal https://on.ft.com/3Rkf8IP Donald Trump says Fed chair Jay Powell’s ‘termination cannot come fast enough’ https://on.ft.com/4jEPzyg ECB cuts rates to 2.25% amid Trump trade war https://on.ft.com/42Cc3ZS China stops buying liquefied gas from the US https://on.ft.com/42jB9h9 Audio credit: C-SPAN READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/dcf721cf-206c-450f-af9a-382a210996d6 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Federal Reserve chair Jay Powell is warning that US tariffs are ‘likely’ to put at risk the central bank’s goals of keeping prices and unemployment in check, and chipmakers are reeling from a tough week. Plus, UK inflation fell more than expected to 2.6 per cent in March and the FT’s Aiden Reiter explains why emerging markets are doing surprisingly well in all this market volatility. MENTIONED IN THIS PODCAST: Trump tariffs put Fed’s jobs and inflation goals at risk, Powell says https://on.ft.com/4cy9xbo Unhedged: Emerging markets’ unexpected outperformance after “liberation day” https://on.ft.com/4lzvpY6 ASML’s chipmaking machine orders disappoint amid tariff uncertainty https://on.ft.com/4lzvpHA UK inflation falls more than expected to 2.6% in March https://on.ft.com/4cCtqhx The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Michela Tindera, Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/23958310-86a5-4213-87d0-843411b81b4b * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Nvidia says it expects to take a $5.5bn blow as the US clamps down on the Silicon Valley group’s ability to export artificial intelligence chips to China, and PwC is exiting 12 countries. Plus, the junk bond market has basically ground to a halt, and India’s middle class is dealing with a debt crisis that could impact the country’s growth ambitions. MENTIONED IN THIS PODCAST: Nvidia to take $5.5bn hit as US clamps down on exports of AI chip to China https://on.ft.com/3ROLz1Y Risky corporate borrowers shut out of bond market since Trump’s tariff blitz https://on.ft.com/4jvYyS7 How India’s middle-class debt crisis is threatening growth https://on.ft.com/4ctzadm PwC exits 12 countries in push to avoid scandals https://on.ft.com/3ROJMtR The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katya Kumcova, Saffeya Ahmed, Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/a631bcea-b467-4079-9010-800527642a75 * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
Brussels is exploring legal options that would allow European companies to break long-term Russian gas contracts, and Goldman Sachs had a mixed first quarter. Plus, China’s President Xi Jinping is traveling around south-east Asia to make the case that Beijing is open for business, and Argentina just landed a $20bn deal with the IMF. MENTIONED IN THIS PODCAST: Xi Jinping warns ‘no winners’ from Trump trade war as he heads to Vietnam https://on.ft.com/42pzcyl Argentina secures $20bn IMF deal by relaxing currency controls https://on.ft.com/4cGPpUM Goldman Sachs’ chief hopeful Trump will listen to corporate America https://on.ft.com/3XYUQs0 EU explores legal options for ending Russian gas deals https://on.ft.com/3XYerIM The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Katya Kumcova, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/43e314d2-94ed-42b1-a1f0-2c5caa7e827b * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
US tariff exemptions on personal electronics may only be temporary, and big banks posted major earnings on Friday despite some economic headwinds. Plus, the European Union and the UK are getting closer to signing a defense pact, and the Trump Administration's pressure on universities could drive students and faculty overseas. MENTIONED IN THIS PODCAST: US tech tariff exemption will be temporary, says Lutnick https://on.ft.com/42oESbT JPMorgan chief Jamie Dimon warns of ‘considerable turbulence’ in US economy https://on.ft.com/3RIe01E Warning lights flash for US consumer strength as credit defaults rise https://on.ft.com/4crZsg6 American academics seek exile as Trump attacks universities https://on.ft.com/42jUrTH AI praise-giving tool promises ‘authentic’ insights https://on.ft.com/43MUfNK UK and EU close ranks on defence amid Trump turmoil https://on.ft.com/42pUJH9 The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. READ A TRANSCRIPT OF THIS EPISODE ON FT.COM https://www.ft.com/content/54297e10-064b-428c-b6a4-e3e1f11355bb * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
US President Donald Trump’s global trade war has made a mess for the Federal Reserve. Despite an encouraging US consumer price index report this week, there are major concerns about the inflationary nature of Trump’s tariffs. Meanwhile, the Fed has cut growth forecasts. And if all that wasn’t enough, Trump is breathing down chair Jay Powell’s neck to cut interest rates. The FT’s US economics editor Claire Jones and economics commentator Chris Giles explain why the central bank is caught in a difficult position. MENTIONED IN THIS PODCAST: Jay Powell’s tariff dilemma: defend the economy or contain inflation https://on.ft.com/44jV1BY Alphaville: An emergency rate cut from the Fed? https://on.ft.com/3XUfkC6 US inflation falls more than expected to 2.4% in March https://on.ft.com/42AFPhE Federal Reserve ‘absolutely’ ready to help stabilise market if needed, top official says https://on.ft.com/4j5wKnJ Sign up for the FT’s newsletter Chris Giles on Central Banks https://www.ft.com/chris-giles-on-central-banks Sign up for the FT’s Swamp Notes newsletter here https://ep.ft.com/newsletters/56a64b704f693a0300dfab7e/subscribe Swamp Notes is produced by Katya Kumkova. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Special thanks to Pierre Nicholson. * Hosted on Acast. See acast.com/privacy https://acast.com/privacy for more information.
