FT News Briefing

Bayer chief executive Bill Anderson has ruled out a fresh capital increase and Ghana’s finance minister is concerned that the country’s new anti-LGBT+ law will put its international funding at risk. Plus, the FT’s Robin Wigglesworth examines whether private equity is a good fit for Norway’s sovereign wealth fund. Mentioned in this podcast:Bayer chief rules out capital increase as investors slam turnaround planIs private equity actually worth it?Anti-LGBT+ law puts Ghana’s IMF and World Bank funding at risk, finance ministry warnsNikki Haley ends White House bid but does not endorse Donald TrumpThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Chancellor Jeremy Hunt will on Wednesday put a £10bn personal tax cut at the heart of his Budget, and China is setting a 5 per cent growth target for this year. Plus, the FT’s Michael Stott sat down with Argentina’s president Javier Milei to talk about the country’s economy. Credit: APMentioned in this podcast:Jeremy Hunt set to cut national insurance by 2p in UK BudgetArgentina’s Javier Milei says he doesn’t need congress to save the economyChina sets ‘ambitious’ 5% growth target and flags risks to economySingapore defends exclusive deal for Taylor Swift concerts in south-east AsiaThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Gold prices have surged close to record levels, and the EU has fined Apple €1.8bn as it boosts its fight against Big Tech. Plus, the FT’s Sam Fleming explains whether the Conservatives planned tax cuts will actually affect the outcome of the upcoming UK election. Mentioned in this podcast:Apple hit with €1.8bn fine for breaking EU law over music streamingWill Big Tech agree to play by Europe’s rules?The hard Budget choices facing a cash-strapped UKThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 for more information.

China has pledged “computing vouchers” to subsidise its AI startups, Bayer is still struggling to move past its Roundup woes, and an Israeli senior minister visits the White House. Plus, Warren Buffett is sounding the alarm over wildfires and the utilities industry.  Mentioned in this podcast:Buffett sounds wildfire alarm as utilities industry enters new eraBayer slashes dividend by 95% as it steps up effort to cut debtBayer’s struggling Roundup court strategyChina offers AI computing ‘vouchers’ to its underpowered start-upsNetanyahu allies lash out at Gantz over Washington tripThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Zach St. Louis, Persis Love, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

The issue of immigration might be Donald Trump’s biggest political boon ahead of the US election in November, but President Joe Biden went to the US-Mexico border this week to try to change the narrative. The FT’s Houston correspondent, Myles McCormick, and US political news editor, Derek Brower, join this week’s Swamp Notes to examine whose case voters find more convincing. Credit: Fox10, PBS NewsHourMentioned in this podcast:Surge in border crossings creates political upheaval in the USJoe Biden and Donald Trump head to Texas as immigration debate heats upSign up for the FT’s Swamp Notes newsletter hereSwamp Notes is produced by Ethan Plotkin, Sonja Hutson, Lauren Fedor and Marc Filippino. 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 Hosted on Acast. See acast.com/privacy for more information.

The cost of Rishi Sunak’s plan to send asylum seekers to Rwanda could exceed £580mn by the end of the decade, and Toyota’s bet on hybrid vehicles has paid off, so far. Plus, the FT’s Samuel Agini explains how Formula One is trying to reinvent itself. Credit: Formula 1; NetflixMentioned in this podcast:Rishi Sunak’s Rwanda asylum scheme could cost UK £580mn, watchdog warnsWas Toyota’s bet on hybrid cars right all along?Formula One’s growing painsThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Uber chief executive Dara Khosrowshahi has received about $136mn in stock options after hitting a performance target, and Adani is working to push India’s military capabilities. Plus, the FT’s Stephen Foley explains why McKinsey is drawing ire from US lawmakers. Mentioned in this podcast:US Supreme Court will hear Trump presidential immunity appealMcKinsey-led think-tank advised China on policy that fed US tensionsMcKinsey website touted its advice to Chinese government ministriesAdani answers Modi's call to armsRead a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Vladimir Putin’s forces have rehearsed using tactical nuclear weapons at an early stage of conflict with a major world power and Emmanuel Macron, president of France, has refused to rule out sending troops to Ukraine. Plus, profits for the biggest US oil and gas producers have almost tripled under President Joe Biden, even as the industry berates his administration’s 'hostile' policies.Mentioned in this podcast:Leaked Russian military files reveal criteria for nuclear strikeMacron says sending western troops to Ukraine cannot be ruled outGermany rebuffs Emmanuel Macron on troops in Ukraine and tells Paris to ‘supply more weapons’Oil and gas profits triple under Joe Biden even as industry decries himThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Michela Tindera, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Sweden is set to become a Nato member, the UK Financial Conduct Authority is planning to name firms under investigation at a much earlier stage, and Microsoft has struck a deal with a French artificial intelligence start-up to broaden its involvement in the industry beyond OpenAI.Mentioned in this podcast:Sweden overcomes final hurdle to join Nato in historic shiftFCA plans to name firms under investigation in UK deterrence driveMicrosoft strikes deal with Mistral in push beyond OpenAIThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Israel plans to raise debt and taxes to fund its war in Gaza and global house prices are on the rise. Plus, FT correspondent Paola Tamma discusses some of the troubles plaguing the EU’s key pandemic stimulus fund.  Mentioned in this podcast:US biotech fundraising boom ends 2-year deal droughtIs the EU’s Covid recovery fund failing?Global house prices rebound as economists predict turning point Israel plans $60bn debt raising and tax rises to fuel defence spendingThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Zach St. Louis, Jess Smith, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Former US President Donald Trump is the subject of four criminal cases and several civil suits. That means the presumptive Republican nominee will be spending a lot of time in courtrooms ahead of voting day in November. Still, it looks like all these legal liabilities might be giving him a political boost. The FT’s US legal and defence correspondent, Stefania Palma, and US managing editor, Peter Spiegel, join this week’s Swamp Notes to explain why.Mentioned in this podcast:Are US presidents above the law?Donald Trump’s legal bill and Joe Biden’s cash boost: inside the 2024 money raceSign up for the FT’s Swamp Notes newsletter hereSwamp Notes is produced by Ethan Plotkin, Sonja Hutson, Lauren Fedor, and Marc Filippino. 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 Hosted on Acast. See acast.com/privacy for more information.

The UK and EU will on Friday sign a deal to co-operate more closely in tackling illegal immigration and criminal gangs, and Japan’s Nikkei 225 index hit a record high after 34 years. Plus, the FT’s Alison Killing talks about Russia’s failed rebuilding of the Ukrainian city of Mariupol. Mentioned in this podcast:UK and EU agree to co-operate more closely on migrationJapan’s Nikkei 225 index eclipses record high after 34 yearsInside Mariupol: Russia’s new Potemkin villageThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Zach St. Louis, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Nvidia’s net income soared nearly 800 per cent in the latest quarter compared to the same period in 2022, HSBC reported an 80 per cent drop in quarterly profit, and Boeing is replacing the executive in charge of manufacturing its 737 Max aircraft. Plus, Indonesia’s incoming president is creating concerns for the country’s democracy. Mentioned in this podcast:Nvidia declares AI ‘tipping point’ as quarterly revenues jump 265%HSBC shares fall most since 2020 after profits plummet 80%Boeing ousts head of 737 Max programmeWhat Prabowo Subianto’s presidential election win means for IndonesiaThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Donald Trump is losing support from small donors, US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, and Barclays updated investors on its strategy for the first time in eight years. Mentioned in this podcast:Donald Trump’s donor numbers fall by 200,000 compared with 2019Capital One agrees to buy Discover Financial for $35bnBarclays to return £10bn to shareholdersSubscribe to the FT US Election Countdown newsletterThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Saffeya Ahmed, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Ukraine withdraws from Avdiivka, lacking weaponry and ammunition, and there are questions about OpenAI’s business model.Mentioned in this podcast:Israel’s economy shrank at 20% rate after outbreak of warCan OpenAI create superintelligence before it runs out of cash? External LinkBattle for Avdiivka tests Ukraine’s new commanderThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Josh Gabert-Doyon, Manuela Saragosa, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

The European Union plans to hit Apple with a €500mn fine over music streaming, German companies make record investments in the US, and emerging market investors switch to ETFs that exclude China.Mentioned in this podcast:US investors in emerging markets switch to ETFs that exclude ChinaNavalny’s allies accuse Russian authorities of trying to cover up his deathEU to hit Apple with first ever fine in €500mn penalty over music streamingThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Zach St. Louis, Josh Gabert-Doyon, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Donald Trump picked plenty of fights with Nato during his time in office. Now, even as war rages in Ukraine, candidate Trump is back at it. But is his aggressive attitude toward Nato resonating with American voters? The FT’s Lauren Fedor and Alec Russell join this week’s Swamp Notes to discuss.Mentioned in this podcast:Nato needs to prepare for Trump’s unilateralism on steroidsDonald Trump says Russia can do what it wants to Nato allies who pay too littleSign up for the FT’s Swamp Notes newsletter hereSwamp Notes is produced by Ethan Plotkin, Sonja Hutson, Lauren Fedor, and Marc Filippino. 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.comCREDIT: Comedy Central, Bloomberg Television, Daily Mail Hosted on Acast. See acast.com/privacy for more information.

European Commision president Ursula von der Leyen says Europe’s military needs to step up and two of the world’s biggest asset managers are quitting an investor group set up to prod companies over global warming. Plus, big food companies are jumping into new farming practices meant to store carbon underground, but there are significant hurdles. Mentioned in this podcast:Von der Leyen calls on EU to subsidise defence productionJPMorgan and State Street quit climate group as BlackRock scales backThe dubious climate gains of turning soil into a carbon sinkHedge fund stampede into cocoa futures fuels record price spikeThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

UK chancellor Jeremy Hunt is considering slashing public spending to fund pre-election tax cuts, Germany is looking to boost its defence spending at a crucial time for Europe, and Citigroup has started tracking how many calls its private bankers are making to clients. Plus, the FT’s Madison Marriage talks about her new podcast on the dangers of meditation retreats.Mentioned in this podcast:Jeremy Hunt faced with slashing UK public spending to fund tax cutsWill Germany deliver on its grand military ambitions?Citi starts tracking how often private bankers call clientsUntold: The RetreatThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Investors scaled back bets that the US Federal Reserve will begin cutting interest rates in May, and Arm shares soared after the UK chip designer reported higher revenues boosted by strong demand for artificial intelligence. Plus the FT’s Felicia Schwartz explains how the relationship between US President Joe Biden and Benjamin Netayahu, prime minister of Israel, is being affected by the war in Gaza. Mentioned in this podcast:Investors scale back bets of May rate cut on strong US inflation figuresUnhedged newsletter: Is Arm really an AI stock?Unhedged podcastArm’s an AI stock now. When’s the crash?The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

US law firm Latham & Watkins is cutting off automatic access to its international databases for its Hong Kong-based lawyers, one of the oldest and best-known hedge fund strategies has suffered nearly $150bn in client withdrawals over the past five years, and the price of bitcoin touched $50,000 for the first time since 2021. Plus, the FT’s Kaye Wiggins explains how a Chinese financier is turning small businesses into a data gold mine. Mentioned in this podcast:Latham & Watkins cuts off its Hong Kong lawyers from international databasesDecline of the star stockpicker: investors pull $150bn from equity hedge fundsBitcoin price touches $50,000 after spot ETF launches spur demandThe financier turning China’s noodle joints and karaoke bars into a data gold mineThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

EY took on $700mn in debt for its failed “Project Everest” plan, and tech companies are shedding jobs in a pivot to AI. Plus, Shein is seeking Beijing’s approval ahead of its IPO. Mentioned in this podcast:Pakistan in power vacuum after Imran Khan defies election odds from jailEY took on $700mn in debt for doomed ‘Project Everest’ spin-off planShein seeks Chinese regulators’ tacit approval for US public offeringTech companies axe 34,000 jobs since start of year in pivot to AIThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Mischa Frankl-Duval, Breen Turner, Zach St. Louis, Saffeya Ahmed, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Introducing Untold: The Retreat, a new podcast from the special investigations team at the Financial Times. In the first episode of The Retreat, Madison Marriage receives an email from a desperate father named Stephen. Over the past five years, he says, his twin daughters have changed drastically. They were bright and outgoing, with exciting plans for their future. But over their early twenties, they became increasingly distressed, struggling to eat or sleep and disassociating from normal life. Stephen believes the root of his daughters’ problems is a particular network of intensive meditation retreats.For support or more information about adverse meditation experiences, take a look at the Cheetah House website.If you are in need of urgent mental health support, please contact your local emergency services or reach out to a mental health helpline, such as the 988 Suicide and Crisis Lifeline in the US or Samaritans in the UK.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

For decades, common political wisdom has held that Americans vote based on their satisfaction with the economy. But even as the US economy booms, with persistently low unemployment and wage growth outpacing inflation, President Joe Biden’s approval rating continues reaching record lows. The FT’s Rana Foroohar and James Politi join this week’s Swamp Notes to explain why. Mentioned in this podcast:What if it’s not the economy, stupid?Why Biden gets little credit for a strong US economySign up for the FT’s Swamp Notes newsletter hereSwamp Notes is produced by Jake Harper, Sonja Hutson, Lauren Fedor, Marc Filippino and Ethan Plotkin. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Ukraine’s President Volodymyr Zelenskyy dismisses his top commander, Gaza’s last refuge is Israel’s next target and OpenAI is on track to hit $2bn in revenue.  Mentioned in this podcast:Volodymyr Zelenskyy dismisses Ukraine’s ‘iron general’Visual analysis: Gaza’s last refuge becomes Israel’s next targetDisney, Fox and Warner sports streaming platform foreshadows consolidationOpenAI on track to hit $2bn revenue milestone as growth skyrocketsThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Breen Turner, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Labour leader Sir Keir Starmer is set to announce the party is abandoning its target to spend £28bn a year on green investment, Uber has reported its first annual operating profit, and the far-right winner of Dutch elections just can't seem to form a government. Mentioned in this podcast:Labour set to ditch plan to spend £28bn a year on green investmentGeert Wilders struggles to find coalition partners in the NetherlandsUber records first annual profits as market value approaches $150bnBenjamin Netanyahu rejects ‘delusional’ Hamas terms for hostage dealThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Standard Chartered has sounded out UK political heavyweights Sir Charles Roxburgh and Sir Sajid Javid as potential candidates for its next chair, BP reported its second-biggest annual profit in a decade, and the FT’s Michael Stott explains the dark side of money flowing from the US to Mexico. Plus, WeWork’s former CEO Adam Neumann is trying to buy the company out of bankruptcy. Mentioned in this podcast:Standard Chartered taps political heavyweights as potential new chairBP targets boost for returns as it delivers second biggest profit in a decadeThe darker side of Mexico’s $63bn remittances boomAdam Neumann seeks to buy WeWork out of bankruptcyThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

China’s national chip champions expect to make next-generation smartphone processors as early as this year, and Northern Ireland is trying to chart a path forward under a new, historic power-sharing agreement. Plus, a former Pakistan prime minister is barred from this week’s election but is using chatbots and social media to energise his party’s supporters. **Please note that a segment in today’s episode contains audio that was produced by artificial intelligence.**Mentioned in this podcast:China on cusp of next-generation chip production despite US curbsImran Khan taps AI and TikTok to fight Pakistan election from jailCash crisis waits for Northern Ireland’s restored executiveThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Saffeya Ahmed, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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. CREDIT: @PTIOfficialPKRead a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Plans for a code on how AI models can use copyrighted materials have stalled in the UK, and US forces carried out strikes against Iran-backed militants over the weekend. Plus, the FT’s Owen Walker explains why the tides are turning against European banks. Mentioned in this podcast:Turkey central bank governor quits and points to campaign against herBNP Paribas shares fall after downgrade to profit targetDeutsche Bank pledges to boost dividend and cut jobsSantander earnings boosted by strong performance in EuropeJulius Baer’s profits tumble 52% as Signa hit triggers CEO exitTurkey’s central bank rocked by another leadership shake-upUS and UK hit Houthis in fresh air strikes against Iran-backed militiasUK shelves proposed AI copyright code in blow to creative industriesThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Saffeya Ahmed, Zach St. Louis, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Business leaders backed away from Donald Trump after his supporters attacked the US Capitol in 2021. Now, political donors are warming to the former president again as he runs for his party’s nomination ahead of elections later this year. The FT’s Alex Rogers and Edward Luce explain why donations are flowing in the way they are.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Meta will reward shareholders with its first-ever dividend and an additional $50bn in share buybacks, US President Joe Biden has approved financial sanctions on Israelis in the West Bank, and Tesla chief executive Elon Musk is hitting back after a Delaware court struck down his $56bn pay package. Plus, the EU has agreed a deal on a €50bn financial support package for Ukraine. Mentioned in this podcast:EU agrees €50bn support package for UkraineUS to put sanctions on Israeli settlers responsible for West Bank violenceTesla shareholders will vote on moving incorporation to Texas, says Elon MuskWhat the $56bn Tesla pay deal setback means for Elon Musk and his empireFormula One’s Lewis Hamilton to join Ferrari from MercedesMeta dividend signals 'coming of age' for Mark Zuckerbergs companyCREDIT: Formula 1The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

The US Federal Reserve held interest rates at a 23-year high, the EU’s battle with Hungarian prime minister Viktor Orbán could come to a head on Thursday, and Boeing withheld its usual financial guidance for the coming year while vowing to focus on the safety of its operations. Mentioned in this podcast:Federal Reserve holds interest rates steady as market focuses on timing of 2024 cutsViktor Orbán: what is the end game for Europe’s chief disrupter?Boeing postpones annual guidance amid 737 Max crisisThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Microsoft reported record quarterly revenues, the IMF projects the Russian economy and the global economy will grow faster than previously expected, and the UN’s agency for Palestinian refugees is in crisis after allegations that some of its staff were involved in the October 7 attacks on Israel.Mentioned in this podcast:Cloud strength and AI excitement boost Microsoft revenueAlphabet’s advertising growth falls short of Wall Street expectationsIMF raises Russia growth outlook as war boosts economyA UN agency in Gaza is in crisis. Palestinians may pay the priceIsraeli intelligence accused UN staff of kidnap and seizing bodyThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Binance has bowed to pressure from customers who want to hold their assets with an independent custodian, a Hong Kong court has ordered property giant China Evergrande to be wound up, and Brazil’s President Luiz Inácio Lula da Silva is returning to an old but controversial playbook to jump-start the country’s economy.Mentioned in this podcast:Binance bows to trader demands to keep their assets elsewhereChinese developer Evergrande ordered to be wound up by Hong Kong courtChina Evergrande liquidation to test Hong Kong’s reachLula’s playbook: Brazil bets on a return to state capitalismThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Brussels threatens to hit Hungary’s economy if Viktor Orbán vetoes Ukraine aid, the UN’s highest court orders Israel to limit harm to Palestinians in Gaza, Germany’s carmakers are struggling amidst the transition to electric vehicles, and EY and Bank of America are monitoring workers’ in-office attendance. Mentioned in this podcast:ICJ orders Israel to limit harm to Palestinians in GazaGerman car suppliers struggle to adjust to EV shiftBrussels threatens to hit Hungary’s economy if Viktor Orbán vetoes Ukraine aidEY starts monitoring UK staff office attendance with turnstile dataBiden says Iran-backed militants killed 3 US servicemen in drone attackThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Joanna Kao, Zach St. Louis, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

So far the Republican primaries have had very few surprises. Former President Donald Trump continues to be the favourite. On the first episode of Swamp Notes, the FT’s Lauren Fedor and Peter Spiegel unpack how Trump is winning these races as if he were an incumbent, what was in it for the other Republican candidates, and why former South Carolina Governor Nikki Haley is staying in the race.Mentioned in this podcast:Donald Trump warns Nikki Haley’s billionaire backers to halt supportNikki Haley, the woman determined to keep taking on TrumpDonald Trump wins New Hampshire primary but Nikki Haley vows to fight onDonald Trump moves closer to Republican coronation after Ron DeSantis ‘kisses the ring’Donald Trump draws on arsenal of slurs to attack rivals for Republican nominationSign up for the FT’s Swamp Notes newsletter hereRead a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

The Federal Trade Commission has launched an inquiry into the partnerships between Big Tech cloud providers and generative AI companies, the European Central Bank is keeping rates on hold, and Boeing’s problems are having a ripple effect on the broader airline industry. Plus, take a sneak peek at a new show we’re launching called Swamp Notes! Mentioned in this podcast: Donald Trump wins New Hampshire primary but Nikki Haley vows to fight onAmerican Airlines chief says Boeing’s quality problems ‘unacceptable’Christine Lagarde says ‘disinflation process is at work’Big Tech’s AI partnerships draw inquiry from FTCFT Swamp NotesThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

The US aviation regulator has blocked Boeing from expanding production of its most popular plane, the fight between Poland’s Donald Tusk and Andrzej Duda heats up, a research group forecasts 56% of total US fund assets will be passively managed by 2027, the French government presses the UK to help fill a multibillion-pound hole in nuclear projects, and Israel is creating a buffer zone within Gaza. Mentioned in this podcast:Regulator blocks expanded production of Boeing’s 737 MaxFeud between Poland’s Donald Tusk and Andrzej Duda intensifies over presidential pardonRachman Review podcastPassive eclipses active in US fund market as assets swell to $13.3tnFrench government presses the UK to help fill multi billion-pound hole in nuclear projectsIsrael demolishes buildings to create buffer zone within GazaThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Turkey’s parliament has voted in favour of Sweden joining Nato and Arab nations are about to unveil a peace plan for Israel and Hamas. Plus, the FT’s Kaye Wiggins explains whether a leadership change can help revive the Hong Kong Stock Exchange. Mentioned in this podcast:Turkish parliament votes in favour of Sweden’s accession to NatoHow China’s slowdown is deepening Hong Kong’s ‘existential crisis’Arab nations develop plan to end Israel-Hamas war and create Palestinian stateThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

An inverted yield curve is sending jitters across the US economy, Japanese IT conglomerate Fujitsu is in hot water over its involvement in the UK Post Office scandal, and new details have emerged over how the SEC’s X account was hacked. Mentioned in this podcast:UK Post Office scandal exposes risks of Fujitsu’s hands-off approachYield curve adds to mystery over US economySEC says bitcoin X breach came after phone number was swappedThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva, Gavin Kallmann, and Josh Gabert-Doyon. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Poland secures EU concession to limit food exports from Ukraine, Ron DeSantis ends his bid for the White House, investors turn to BlackRock and Fidelity for new crypto products, the US oil and gas industry is struggling to recruit Gen Z workers, and AI dominates Davos.Mentioned in this podcast:US bitcoin ETFs pull in $871mn in first three days of tradingThe US shale magnate trying to sell oil and gas jobs to Generation ZThe top takeaways from this year’s World Economic ForumPoland secures EU concession to limit food exports from Ukraine Ron DeSantis drops out of White House race and endorses TrumpCREDIT: World Economic ForumThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Josh Gabert-Doyon, Zach St. Louis, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

UK chancellor Jeremy Hunt has signalled he wants to cut taxes further in the coming months, the conflict in the Red Sea is rekindling fears over oil and inflation, and the FT’s Anjana Ahuja says scientists have developed artificial intelligence models to predict how long people will live. Mentioned in this podcast:UK chancellor signals he wants more tax cuts before electionWhy US strikes in Middle East are rekindling fears over oil and inflationCould an AI ‘death calculator’ actually be a good thing?The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

A top IMF official has warned that central banks need to move cautiously on cutting rates this year, BP has appointed interim boss Murray Auchincloss as its permanent chief executive, and Rishi Sunak quelled a rightwing Conservative revolt over his flagship Rwanda asylum bill. Plus, the FT’s Joe Leahy explains why China’s population decline accelerated in 2023 as its economy grew at one of the lowest rates in decades. Mentioned in this podcast:IMF official warns central banks against fuelling inflation with rapid rate cuts Stocks drop as ECB and UK inflation puncture interest rate cut hopesBP appoints interim boss Murray Auchincloss as permanent chiefTory rebels abandon revolt over Rishi Sunak’s Rwanda billChina’s population decline accelerates as economy reaches low growth targetThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Wage growth is slowing in the world’s largest economies, a federal judge stopped JetBlue’s planned deal to buy Spirit Airlines, and the EU’s tax on ‘dirty’ imports could fragment global trade. Plus, the FT’s Lauren Fedor explains the uphill battle for the Republican presidential nomination that Nikki Haley and Ron DeSantis are facing. Mentioned in this podcast:Wage growth slows in world’s major economiesHow global trade could fragment after the EU’s tax on ‘dirty’ importsJetBlue’s $3.8bn bid for rival airline Spirit blocked by US judgeNikki Haley and Ron DeSantis running out of time to stop Donald TrumpThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Red Sea shipping route remains dangerous. What's behind Chinese carmaker BYD's success in the electric vehicle market? And new figures show Germany was the world’s weakest-performing major economy last year.Mentioned in this podcast:Germany was worst-performing major economy last yearChina’s electric vehicle dominance presents a challenge to the westWang Chuanfu, the driving force behind BYD’s riseThe FT News Briefing was produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Persis Love, Josh Gabert-Doyon, and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Simon Panayi. Topher Forhecz and Manuela Saragosa were executive producers. 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 Hosted on Acast. See acast.com/privacy for more information.

Taiwan’s presidential election shows that voters are willing to defy China, the 2024 US presidential election kicks off today, and American banks say that American consumers are in good shape. Mentioned in this podcast:What Taiwanese voters’ defiance means for ChinaBanks say US consumers in good shape but poll shows Biden gets no creditIowa poll shows Trump far ahead of rivals in Republican raceCredit: CBS NewsThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

The US and the UK have carried out military strikes against Iran-backed Houthi rebels, US inflation numbers for December cool expectations for interest rate cuts in March. Plus, the FT’s Tom Wilson explains why the world’s biggest mining project took so long to get off the ground and whether it was worth the headache. Mentioned in this podcast:US and UK launch strikes against Houthi rebels in YemenBuckle up — the inflation battle is entering a new phaseWorld’s biggest mining project to start after 27 years of setbacks and scandalsNewsletter: Chris Giles on Central BanksThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Josh Gabert-Doyon Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

US President Joe Biden plans to send a high-level delegation to Taipei after the election in Taiwan on Saturday, the US Securities and Exchange Commission has approved the first spot bitcoin exchange traded funds, and the Iran-backed militant group known as the Houthis are stepping up its attacks in the Red Sea. Mentioned in this podcast:Joe Biden to send delegation to Taipei after Taiwan’s electionTaiwan’s pivotal vote: China casts shadow over island’s electionSEC approves first spot bitcoin ETFs in boost to crypto advocatesWho are the Houthis?Subscribe to The Rachman ReviewFollow Untold: The Retreat on Apple Podcasts, Spotify or wherever you listen to podcasts.The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Chinese companies are resorting to chips repurposed from standard PC gaming products to develop artificial intelligence tools, and Charles Michel’s run for European parliament is causing a scramble to replace him. Plus, a new TV show is firing Brits up over a decades-old post office scandal. Mentioned in this podcast:Chinese companies resort to repurposing Nvidia gaming chips for AIHow Charles Michel’s parliament plan fires up the EU’s top job battleHow a Post Office drama galvanised Britain The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.

Shares in Boeing and supplier Spirit AeroSystems tumbled after a mid-flight accident, and tens of thousands of Afghan women and girls have been able to join online study programmes despite the Taliban’s ban on female education. Mentioned in this podcast:Boeing and supplier shares fall after mid-flight Alaska Airlines accidentAfghan women and girls flock online to evade Taliban curbs on female educationBiden says he is pressing Israel to ‘significantly get out’ of GazaIsrael says it has destroyed Hamas as a fighting force in north GazaThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 Hosted on Acast. See acast.com/privacy for more information.