FT News Briefing

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.

A pile up of bad debt threatens to sour investors’ growing optimism about the prospects for the US’s largest banks, and European football clubs are pouring money into transforming stadiums. Plus, the FT’s Joe Miller explains why another bad bet by SoftBank could be trouble for the Japanese group. Mentioned in this podcast:SoftBank’s Gen Z social media bust: was IRL the next Facebook or a fraud?The European football clubs turning stadiums into cash cowsLargest US banks set to log sharp rise in bad loansThe 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.

One of the world’s top gold producers fired its chief executive for serious misconduct, Chinese provinces pumped a record $31bn of capital into fragile regional banks last year, and German inflation accelerated to its fastest rate for three months in December. Plus, a study shows widespread untracked fishing is hindering global efforts to protect depleted fish stocks and marine environments. Mentioned in this podcast:Endeavour Mining CEO dismissed for serious misconductOff-radar fishing threatens efforts to preserve stocks, study warnsChina steps up aid for regional banks as economic risks mountGerman inflation rises to 3.8% in blow to rate-cut hopesThe 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.

Minutes from the December Federal Reserve meeting show that officials were committed to higher-for-longer interest rates, convertible bonds have been a rare bright spot for corporate fundraising, and two bombs killed more than a hundred people in southern Iran yesterday. Plus, some Russians convicted of gruesome crimes are returning to their communities after fighting in Ukraine.  Mentioned in this podcast:Fed officials said rates could remain high ‘for some time’US companies dive into convertible debt to hold down interest costsBomb blasts at Iranian commander’s grave kill nearly 100The Russian murderers sent home as free men after fighting in UkraineThe 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.

Russia has fired a second massive barrage of the new year on Ukraine’s capital and the country’s second-largest city, Benjamin Netanyahu’s rightwing allies have blasted Israel’s top court for striking down a controversial law aimed at overhauling the country's judiciary, and BlackRock’s lead in the US exchange traded fund market is being eroded by Vanguard and smaller rivals.Mentioned in this podcast:Russia pounds Ukraine in new year’s second massive air strikeBenjamin Netanyahu’s allies blast top court but wait to revive judicial overhaulVanguard and rivals gain ground on BlackRock in US ETF marketThe 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 FT’s Peter Spiegel, Katie Martin and Elaine Moore preview what could happen in geopolitics, markets and artificial intelligence in 2024.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.

FT News Briefing presents a special episode from Slate’s “What Next” podcast, hosted by Mary Harris. Everybody loves pandas—and China knows it. As we say goodbye to the National Zoo’s pandas, this Slate podcast looks back at 50 years of “panda diplomacy” and consider its uncertain future. Join Harris as she speaks with E. Elena Songster, author of Panda Nation: The Construction and Conservation of China’s Modern Icon and professor of environmental history of modern China at St. Mary’s College of California. FT News Briefing will return with regular episodes next week. Hosted on Acast. See acast.com/privacy for more information.

Are generative AI systems such as OpenAI’s ChatGPT really intelligent? Large language models such as GPT 4 appear to use human-level cognitive abilities when they engage in legal reasoning, write essays or solve complex problems. Hosts John Thornhill and Madhumita Murgia speak to Emily Bender, professor of computational linguistics at the University of Washington, to find out what’s really happening under the hood, and also hear from Pablo Arredondo of CaseText, which develops AI tools for lawyers; influential computer scientist Melanie Mitchell, professor at the Santa Fe Institute, and Konstantin Arkoudas, an AI expert who’s worked on Amazon’s Alexa. Free links:OpenAI set to launch store as ChatGPT reaches 100mn usersHow to keep the lid on the Pandora’s box of AIWe need a political Alan Turing to design AI safeguards‘I’ve never seen anything like this’: how OpenAI’s dramatic weekend unfoldedTech Tonic is presented by Madhumita Murgia and John Thornhill. Senior producer is Edwin Lane and the producer is Josh Gabert-Doyon. Executive producer is Manuela Saragosa. Sound design by Breen Turner and Samantha Giovinco. Original music by Metaphor Music. The FT’s 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.

Historian Sir Simon Schama and FT deputy arts editor and film expert Raph Abraham join Lilah to discuss the historical epic ‘Napoleon’. Ridley Scott’s new two-and-a-half-hour-long film stars Joaquin Phoenix, and documents a lot: Napoleon’s rise and fall, some of his most famous battles, and his relationship with his wife, Josephine. But how well does it represent his character? We discuss what the film got right and wrong (historically and dramatically), why Napoleon continues to loom so large in culture, and whether historical epics still satisfy us.-------We are still collecting your cultural predictions for 2024! What’s one thing you think will happen (or want to happen) in culture next year? Write us. You can email us at [email protected] or message Lilah on Instagram @lilahrap. -------Links (all FT links get you past the paywall): – Simon’s FT Weekend essay on Napoleon, and why so many writers and filmmakers try to depict him: https://on.ft.com/4861gbn– the FT’s official review of Napoleon by Danny Leigh: https://on.ft.com/484moPh– An essay from Janan Ganesh on why Napoleon still matters: https://on.ft.com/3uWF8Sj– Simon recommends the 2012 movie ‘Lincoln’, directed by Steven Spielberg– Raph is a fan of Pablo Larrain’s ‘Jackie,’ from 2016, and the Leonard Bernstein biopic ‘Maestro’, directed by Bradley Cooper and available on Netflix on December 20– We interviewed Pablo Larrain in 2021 about his creative process: https://on.ft.com/3oofjVO – Lilah wrote a column about learning to draw: https://on.ft.com/46NBaZt – Simon is on X @simon_schama-------Special FT subscription offers for Life and Art podcast listeners, from 50% off a digital subscription to a $1/£1/€1 trial, are here: http://ft.com/lifeandart-------Original music by Metaphor Music. Mixing and sound design by Breen Turner. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

When a Dutch crime reporter makes an unbelievable discovery, a small-town murder case begins to look like an international assassination plot.For more from the FT, sign up for the FT Edit App. To listen to Hot Money ad free, subscribe to Pushkin+.See omnystudio.com/listener for privacy information.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Chancellor Jeremy Hunt raised the prospect of the Bank of England reducing interest rates in 2024 in an interview with the FT, and Novo Nordisk’s drugs for obesity could have a profound effect on healthcare, society and our relationship with food. Plus, part three or our three-part series on a changing India looks at the country’s booming fertility industry. Mentioned in this podcast:FT Person of the Year: Lars Fruergaard Jørgensen of Novo NordiskJeremy Hunt raises prospect of Bank of England rate cuts in 2024Credit: Vogue.comCredit: Jimmy Kimmel LiveThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by 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.

A global rally in government debt has driven yields past many Wall Street targets for the end of 2024, and rising premiums in China are driving families to cancel health coverage. Plus, in the second of a three-part series, the FT’s Benjamin Parkin travels to southern India to see whether factories can help solve the country’s employment problems. Mentioned in this podcast:Bond market rally drives yields past Wall Street’s end-2024 targetsMillions drop out of China’s state health insurance systemThe 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 Joanna Kao. 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.

Copper is set to finish the year as the top-performing industrial metal, and the FT’s John Paul Rathbone recently visited a Hamas tunnel and talks about his experience. Plus, in the first part of a three-part series, the FT’s John Reed goes to Varanasi to show how India’s digital transformation is going. Mentioned in this podcast:Supply squeeze helps copper prices buck tough year for base metalsInside the ‘Gaza metro’: Israel displays Hamas tunnel big enough for a carNarendra Modi responds to assassination claims 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.

Activist investor Cevian Capital has taken a €1.2bn stake in UBS, and Nippon Steel has agreed to buy US Steel in a $14.9bn deal. Plus, the FT’s Josh Gabert-Doyon takes us to the English town of Widnes and discusses what the destruction of fossil fuel infrastructure means for local citizens. Mentioned in this podcast:Activist Cevian places €1.2bn bet on UBSNippon Steel agrees to buy US Steel for $14.9bnThe Fiddler’s Ferry blast that will reshape a town’s identityThe 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.

Corporate bankruptcies are increasing at double-digit rates in most advanced economies, and TSMC is going to play a huge role in Taiwan’s upcoming election. Plus the FT’s Henry Foy explains how a European politician spied for China. Mentioned in this podcast:UK’s biggest companies failing to close pay gap, says reportChipmaker TSMC casts long shadow over Taiwan electionChinese spies recruited European politician in operation to divide westBankruptcies soar as high rates and end of Covid aid hit businesses hardThe 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.