FT News Briefing

The biggest names in tech come under pressure as US regulators prepare for antitrust probes, Apple turns towards services and privacy at its annual developers conference and US president Donald Trump turns to the political part of his UK trip after a state banquet with the Queen. Plus, the FT’s trade editor James Politi take us behind the sharp rise in trade tensions between the US and Mexico, and what lies ahead. Hosted on Acast. See acast.com/privacy for more information.

Donald Trump embarks on his first state visit to the UK by testing the countries’ special relationship, Blackstone strikes the largest private real estate deal in history and US technology companies are re-examining their supply chains to identify Chinese groups that may be targeted in the US-China trade war. Plus, the FT’s Global Technology correspondent Tim Bradshaw previews what’s likely to come out of Apple’s Worldwide Developers Conference this week. Hosted on Acast. See acast.com/privacy for more information.

Uber says it has seen an easing of the fierce competition that blew out its losses in the first quarter, President Donald Trump will threaten to curb intel sharing will Britain if it allows Huawei to build part of the country’s 5G mobile network, and from Canada Goose to Gap it has been a bad week for retailers.  Plus, the FT’s North American correspondent Patti Waldmeir explains why the return of service of Boeing’s 737 Max jet could depend on pilot training. Hosted on Acast. See acast.com/privacy for more information.

Prime Minister Benjamin Netanyahu plunges Israel into repeat elections instead of allowing his rival a chance to form the next government, Democrats are split on whether to pursue the impeachment of US president Donald Trump after special counsel Robert Mueller’s public statement and two female partners at KPMG have left the accounting firm in the UK over its handling of bullying claims against a senior male partner. Plus, the FT’s UK political editor George Parker explains why more Conservatives are now taking a hard line on a no-deal Brexit and what it means for the upcoming leadership race.   Hosted on Acast. See acast.com/privacy for more information.

In an interview with the FT, the UK health secretary and pro-business Conservative leadership candidate blasts rival Boris Johnson, Spain’s Prime Minister Pedro Sanchez and his French counterpart Emmanuel Macron are joining forces to block a German conservative from taking the European Commission presidency, and the mounting US-China trade war has led investors to raise bets that the Federal Reserve will cut interest rates as the economy slows. Plus, the FT’s corporate finance and deals editor Arash Massoudi explains the significance of the talks between Fiat Chrysler and Renault and the seismic shift it would cause in the automaking industry. Hosted on Acast. See acast.com/privacy for more information.

The success of the Brexit party in European elections ramps up pressure on Britain to leave the EU without a deal, Aviva is preparing a big shake-up of its UK business and Disney’s live action remake of the 1992 animated classic ‘Aladdin’ grabbed the top spot at the US box office over the holiday weekend. Plus, the FT’s pharma correspondent Hannah Kuchler reports that technology companies are betting that their insights into human behaviour can help opioid addicts recover. Hosted on Acast. See acast.com/privacy for more information.

An alliance of pro-EU parties largely held their ground in Sunday’s European elections, Fiat Chrysler and Renault are in talks that could extend to a full merger, and the most valuable unicorn in the world, ByteDance, wants to make smartphones. Plus, the FT’s Brazil correspondent Andres Schipani tells how the country has changed since Jair Bolsonaro became president. Hosted on Acast. See acast.com/privacy for more information.

Donald Trump says that Huawei could be included in a trade deal with Beijing, Facebook says it took down a record 2.2bn fake accounts in the first three months of this year and JPMorgan Chase drops its client Purdue Pharma, the OxyContin maker, which has been accused in thousands of lawsuits of fuelling the US opioid crisis. Plus, the FT’s Eric Platt explains how three Wall St banks, Morgan Stanley, Goldman Sachs and JPMorgan Chase, dominate advising on tech IPOs, and why that grip might be under threat after Uber’s listing. Hosted on Acast. See acast.com/privacy for more information.

Conservative MPs expect UK Prime Minister Theresa May to resign or be forced out of office within days, sources tell the FT that Tyson Foods, the largest US meat packer, is in talks over a multi-billion dollar investment in Kazakhstan beef production as a back door into China and a US judge rejects President Donald Trump’s efforts to quash subpoenas of his bank records. Hosted on Acast. See acast.com/privacy for more information.

UK Prime Minister Theresa May offers Labour a deal that includes the possibility of a second EU referendum, Europe’s aviation safety agency sets out strict conditions before it will allow Boeing’s 737 Max aircraft back into the skies and shares in three of the US’s biggest department store chains, Nordstrom, Kohl’s and JC Penney, fell on Tuesday after the companies reported quarterly results short of forecasts. Plus the FT’s Shanghai correspondent Tom Hancock explains why Chinese film producers are facing a funding crunch. Hosted on Acast. See acast.com/privacy for more information.

Federal Reserve chair Jay Powell tempers fears over a corporate debt meltdown, Hungarian Prime Minister Viktor Orban steps up the campaign for the country’s Fidesz party in the days leading up to the European parliamentary elections and the UK’s financial watchdog says the number of crypto and forex fraud claims has more than tripled in the past financial year.   Hosted on Acast. See acast.com/privacy for more information.

US intelligence chiefs have held a series of classified briefings with American companies and other groups to warn them of the dangers of doing business in China, a small group of US farm operators have received more than half the money from a federal bailout designed to offset the cost of US trade battles and India exit polls point to a clear election victory for prime minister Narendra Modi. Plus, the FT’s Brussels bureau chief, Alex Barker, explains why Europe’s centrist parties might be in trouble in this week’s parliament elections. Hosted on Acast. See acast.com/privacy for more information.

Shares in the image sharing platform Pinterest tumble as much as 19 percent after the company’s first earnings report since going public, Starbucks’ China rival Luckin Coffee raises $561m in its IPO gaining a valuation of $4bn and UK Prime Minister Theresa May tells her MPs she will set out a timetable for her resignation and the election of a new leader. Plus, the FT’s Australia and Pacific correspondent Jamie Smyth explains why there’s so much bad blood in Australia and what it means for Saturday’s Federal election. Hosted on Acast. See acast.com/privacy for more information.

US President Donald Trump issues an executive order effectively banning telecoms companies from using equipment manufactured by China’s Huawei, Cisco systems is slashing its manufacturing in China in anticipation of higher import tariffs levied in the US and office space group WeWork tries to rein in losses before a possible IPO. Plus, the FT’s Paris Bureau Chief Victor Mallet explains what the European Parliament could have in store for France’s president Emmanuel Macron and why his vision for a united Europe might be in jeopardy.   Hosted on Acast. See acast.com/privacy for more information.

Intel reveals a vulnerability in its chips that could let hackers steal data, Wall Street recovers as trade war fears ease, a dispute between the US and Mexico sours the market for fruits and vegetables, and UK Prime Minister Theresa May challenges Labour Party leader Jeremy Corbyn to make up his mind on her Brexit compromise plan. Plus, the FT’s Buenos Aires correspondent, Benedict Mander, explains how the IMF’s $56bn bailout is playing out in Argentina. Hosted on Acast. See acast.com/privacy for more information.

The heightened trade war with China hands US stocks their biggest one-day drop in months, Uber shares lose more than a tenth of their value in the ride-hailing app’s second day of trading and a California court orders Bayer to pay more than $2bn in damages to a pair of cancer patients who claimed that their non-Hodgkin’s lymphoma was caused by the German group’s weedkiller, RoundUp. Plus, the FT’s pharmaceutical and biotech reporter, Hannah Kuchler, explains why a lawsuit backed by 44 US states alleges that some generic drugmakers, including Teva and Pfizer, have been fixing prices of more than 100 drugs. Hosted on Acast. See acast.com/privacy for more information.

Donald Trump’s top economic adviser, Larry Kudlow, raises the prospect of a face-to-face encounter between the US president and China’s Xi Jinping, three influential advisory groups encourage Volkswagen shareholders to vote against the stewardship of all but one member of the German automaker’s board at the annual meeting on Tuesday and Boeing expects “far reaching” changes to the way aircraft are certified safe across the global aviation industry. Plus, the FT’s private equity correspondent in London Javier Espinoza explains why private equity firms have shunned the UK for Europe. Hosted on Acast. See acast.com/privacy for more information.

US President Donald Trump breaks the silence on escalating tensions with North Korea, US-China trade talks kick off in DC and a London-based boutique advisory firm stands to make $27m in fees for its work on Barbados’s $7bn debt restructuring. Plus, the FT’s Shannon Bond sets the stage for Uber’s New York Stock Exchange debut. Hosted on Acast. See acast.com/privacy for more information.

The US has imposed new sanctions on Iran’s metal sectors after Iran said it would cease to comply with parts of the 2015 nuclear deal, Disney writes down $353m from its stake in Vice Media and Tokyo prosecutors relied on a laptop acquired in Lebanon to help build a case against former Nissan boss Carlos Ghosn. Plus, the FT’s US managing editor Peter Spiegel explains what happened on Wednesday regarding the White House, the Mueller report and the US attorney general being held in contempt of Congress. Hosted on Acast. See acast.com/privacy for more information.

Global equities suffered one of their biggest declines of the year on fears about a US-China trade war, Lyft shares slip even further below their $72 IPO price after the company said warns about slowing revenue growth and Google unveils plans for a smart display that would use facial recognition to make personalised recommendations. Plus, the FT’s Gregory Meyer tells us about the super weeds that are causing new trouble for Bayer and its blockbuster herbicide, Roundup. Hosted on Acast. See acast.com/privacy for more information.

Senior US officials accuse China of backtracking on its pledges in negotiations to end the trade war, Anadarko Petroleum’s board of directors backs Occidental Petroleum’s $55bn bid, and former Goldman Sachs banker Roger Ng is released under house arrest on $20m bail by a US court over the 1MDB case. Plus, the FT’s Alistair Gray explains the serious accounting problems that have forced Kraft Heinz to restate nearly three years of earnings. Hosted on Acast. See acast.com/privacy for more information.

US president Donald Trump threatens to raise tariffs on all Chinese imports to 25 per cent, Occidental Petroleum adds more cash to the structure of its $55bn offer to buy Anadarko Petroleum and the European Union prepares to launch a formal antitrust investigation into Apple. Plus, the FT’s economics editor Chris Giles explains why the global economy looks stronger than the “delicate moment” the IMF had expected this spring. Hosted on Acast. See acast.com/privacy for more information.

Investors flock back to a complex debt-derivatives product blamed for amplifying losses in the financial crisis, thousands of US screenwriters take on their private equity-backed agents, and the billionaire founder of drugmaker Insys is among those found guilty of bribing doctors to prescribe an addictive painkiller. Plus, the FT’s banking editor David Crow explains what is next for Barclays after activist investor Edward Bramson suffered a heavy defeat in his bid for a seat on the investment bank’s board. Hosted on Acast. See acast.com/privacy for more information.

The Federal Reserve rules out immediate rate moves, vegan start-up Beyond Meat raises $240.6m from an initial public offering, and US attorney-general William Barr hits back at criticism of his handling of Robert Mueller’s Russia investigation. Plus, the FT’s political editor George Parker explains why Boris Johnson looms large over the Brexit endgame. Hosted on Acast. See acast.com/privacy for more information.

Apple forecasts an improvement in depressed iPhone sales, Donald Trump drops a central demand from trade negotiations with China in order to end a long-running tariff dispute and Crown Prince Naruhito becomes Japan’s first modern monarch. Plus, the FT’s Gideon Long explains what Juan Guaidó’s call for an uprising in Venezuela means for the country and Nicolás Maduro.   Hosted on Acast. See acast.com/privacy for more information.

Google’s advertising revenue slows more than expected, The We Company joins the list of highly valued private companies eyeing a public listing and a group of shipping industry executives call for a speed limit on commercial vessels to cut emissions. Plus, the FT’s US industry and energy editor Ed Crooks explains what Occidental Petroleum’s $55bn bid for Anadarko Petroleum means for the companies and the US oil and gas industry. Hosted on Acast. See acast.com/privacy for more information.

Spain’s socialist party has won big in the country’s third general election in four years, US and UK airlines are bracing for a profit hit in the wake of the grounding of Boeing’s 737 Max jet and Deutsche Bank chairman Paul Achleitner says the investment bank doesn’t need a fundamental strategic overhaul. Plus, the FT’s Mark Vandevelde talks about his latest profile of Colony Capital chief executive Tom Barrack and the real estate investor’s performance record. Hosted on Acast. See acast.com/privacy for more information.

Uber lowers the price range at which it will pitch shares to investors, Amazon wants to cut shipping times to one day for its Prime members and the collapse of merger talks puts Deutsche Bank and Commerzbank in uncomfortable positions. Plus, the FT’s Ian Mount explains why a polarised Spain could face months of coalition talks following a general election this weekend. Hosted on Acast. See acast.com/privacy for more information.

Electric car company Tesla reveals that it plunged back into the red after a $702m net loss this quarter, Facebook sets aside $3bn for what would be the largest civil fine ever imposed by the Federal Trade Commission and Amazon looks to international markets as it tries to continue to grow. Plus, the FT’s banking editor in London, David Crow, explains why European banks are bracing for more pain. Hosted on Acast. See acast.com/privacy for more information.

The S&P 500 and Nasdaq Composite set new records, Twitter chief executive Jack Dorsey meets with US president Donald Trump and European industrial chief Carl-Henric Svanberg pledges to bring back jobs from China. Plus, the FT’s Kadhim Shubber explains why Democrats are split when it comes to the possibility of impeaching the president. Hosted on Acast. See acast.com/privacy for more information.

Democrats order Don McGahn, the former White House counsel, to appear before Congress, Elon Musk says Tesla will produce driverless taxis by 2020, Barclays is expected to cut bonuses for its investment bankers and Theresa May resumes cross-party negotiations on Brexit after the Easter break. Plus, the FT’s Ed Crooks explains the US decision to end sanctions waivers on Iranian oil imports. Hosted on Acast. See acast.com/privacy for more information.

Comedian Volodymyr Zelensky is set to become Ukraine’s next president, London climate protesters demand to talk with mayor Sadiq Khan, and China delays the roll out of a controversial measure that would restrict foreign companies from taking certain data out of the country. Plus, FT reporter Adam Samson explains why Turkey’s currency  has come under such scrutiny lately. Hosted on Acast. See acast.com/privacy for more information.

Huawei promises a $600 5G smart phone, Pinterest and Zoom price shares in their initial public offerings ahead of market debuts on Thursday and Uber’s self-driving car unit eyes a $7.3bn valuation. Plus, US soyabean exports to China rise for the first time in nine months. The FT’s Gregory  Meyer explains what that means for trade between the two countries. Hosted on Acast. See acast.com/privacy for more information.

Apple and chipmaker Qualcomm sign a peace deal to end all litigation between the two companies, Netflix’s subscriber outlook disappoints and Boeing faces an investor backlash. Plus, the FT’s Richard Henderson tells us why BlackRock chief executive Larry Fink says markets are poised for a ‘melt-up’. Hosted on Acast. See acast.com/privacy for more information.

Notre-Dame cathedral in Paris is ravaged by fire, an environmental activist protest brings London to a standstill, Goldman Sachs delays an eagerly anticipated strategic update as its core businesses struggle and new analysis reveals a widening pay gap between US chief executives and their employees. Plus, the FT’s media correspondent Anna Nicolaou explains how Netflix is changing the way TV production is paid for. Hosted on Acast. See acast.com/privacy for more information.

Germany's telecoms regulator says Huawei can stay in the 5G network race, the European Central Bank faces stimulus pressure over a falling inflation outlook and the FT reports that Purdue Pharma, the makers of Oxycontin, tried to buy Reckitt Benckiser's addiction treatment business. Plus, the FT's Camilla Hodgson sets up the $30bn legal battle between Apple and Qualcomm that will play out in a San Diego court on Monday. Hosted on Acast. See acast.com/privacy for more information.

The US sets out its case against WikiLeaks founder Julian Assange, Uber reveals its pitch to investors ahead of its highly anticipated initial public offering and Brussels paves the way for the start of trade talks with Washington. Plus, Wall Street banks will report their first-quarter results over the next week. The FT’s Rob Armstrong explains what investors will be looking out for. Hosted on Acast. See acast.com/privacy for more information.

Brexit’s date has been moved to the end of October, Lyft shares hit a new low as Uber’s IPO looms and the Federal Reserve puts markets on notice. Plus, the FT’s South Asia bureau chief Amy Kazmin explains what is at stake in India’s general election, which kicks off today. Hosted on Acast. See acast.com/privacy for more information.

Prime Minister Theresa May heads to Brussels to ask fellow European leaders for an extension on Britain leaving the EU, the FT reports that AT&T has had talks about selling HBO Europe to pay down its $170bn debt load and shares in Levi Strauss jump after the denim maker reports its first quarterly earnings results in more than three decades. Plus, the FT’s Shannon Bond talks about the hurdles Uber is facing as it prepares its highly-anticipated initial public offering. Hosted on Acast. See acast.com/privacy for more information.

A proposal by the Federal Reserve could force large foreign banks in the US to hold more liquid assets, Novartis CEO Vas Narasimhan says the Swiss drugmaker is limiting its spending on takeovers and the scrapbooking website Pinterest files to go public with the intention of raising $1.3bn from investors. Plus, we talk to the FT’s Israel correspondent Mehul Srivastiva about today’s parliamentary elections. Hosted on Acast. See acast.com/privacy for more information.

Warren Buffett, the largest shareholder at Wells Fargo, calls on the US bank to look outside Wall Street for a new chief executive, Saudi Aramco attracts nearly $30 billion for an upcoming international bond sale and Kirstjen Nielsen, the US secretary of homeland security, resigns from her post. Plus, the FT’s political editor George Parker talks about the upcoming week in British politics ahead of the EU's emergency Brexit summit. Hosted on Acast. See acast.com/privacy for more information.

Talks between Prime Minister Theresa May and Labour leader Jeremy Corbyn have slowed ahead of a crucial European Union summit, a federal judge says the Securities and Exchange Commission and Elon Musk, Tesla chief executive, must resolve a Twitter dispute outside of court and the price of oil tops $70 a barrel for the first time since November. Plus, the FT’s James Politi tells us why the US and China have pushed back the timing of a possible trade deal.   Hosted on Acast. See acast.com/privacy for more information.

Theresa May and Labour leader Jeremy Corbyn kick off negotiations on the future of Brexit, UniCredit prepares a rival multibillion-euro bid to take control of Commerzbank and Facebook user data has been exposed via Amazon cloud computing servers. Hosted on Acast. See acast.com/privacy for more information.

Theresa May agrees to talk with Labour leader Jeremy Corbyn about a softer Brexit deal. Next, despite pressure from both Democrats and Republicans US drug prices continue to soar. Then, the world’s top energy organisation is under fire for a plan critics are calling “too fossil friendly”.   Hosted on Acast. See acast.com/privacy for more information.

British MPs have rejected every single proposal to find a way forward for Brexit. So how can the UK break the deadlock? And the long-awaited initial public offering of ride-hailing app Lyft shifts into reverse on only its second day of trading. Hosted on Acast. See acast.com/privacy for more information.

With Theresa May's Brexit plan in left in tatters on Friday, the British government spent the weekend trying to find a way out of the impasse. Today, MPs will likely try to take control of the House of Commons agenda again in an attempt to find a majority for a different way of leaving the European Union. We look ahead at the week in Westminster. Hosted on Acast. See acast.com/privacy for more information.

Swedbank feels the heat over money laundering accusations, Turkey burns through a third of its foreign currency reserves in an effort to contain the weakness of the lira, and, German businesses brace for no-deal Brexit Hosted on Acast. See acast.com/privacy for more information.

We report on a series of votes in parliament to gauge MPs views on different Brexit scenarios. Another Nordic bank is caught up in a money-laundering scandal.  Plus, Gideon Rachman and colleagues discuss whether Israel's long serving prime minister can overcome corruption allegations and renewed violence from Gaza to win a fifth term in office Hosted on Acast. See acast.com/privacy for more information.

Renault and Nissan patch up their alliance and plan a further acquisition to bulk up the business, a leading Eurosceptic says he has decided after all to back Theresa May’s deal on Brexit, and we learn more about former Uber chief Travis Kalanick’s new global venture. Plus, why European investors are becoming concerned about rising levels of banker pay. Hosted on Acast. See acast.com/privacy for more information.

Members of UK Parliament vote to seize control of the Brexit process, Apple brings out Hollywood’s biggest names to unveil a renewed push into digital services and McDonald’s makes another investment in its restaurant technology. Plus, the FT’s motor industry correspondent Peter Campbell explains why Volvo’s chief executive is warning about self-driving cars. Hosted on Acast. See acast.com/privacy for more information.