Two of the biggest oil companies in the Middle East scale down their acquisition sprees, and Wall Street’s comeback has dramatically narrowed the gap with European stocks. Plus, the US is lifting sanctions on Syria, and Klarna makes some changes to its business model. Mentioned in this podcast: Gulf oil companies slow $60bn acquisition spree as crude prices fall US dollar suffers worst start to year since 1973 US stock market comeback tests investor faith in rotation to Europe Donald Trump lifts...
Jul 01, 2025•11 min
The Trump administration is paving the way for more US bank mergers, and China’s online retail giants are losing some key customers. Plus, the race to replace Federal Reserve Chair Jay Powell is heating up, and the UK is trying to make financial advice more accessible. Mentioned in this podcast: Deal hunger stirs among US banks US shoppers ditch Shein and Temu as Trump closes tax loophole White House says decision on nominating next Fed chair not ‘imminent’ UK launches biggest financial advice s...
Jun 30, 2025•12 min
Some members of the UK's parliament fight back against proposed welfare cuts, and early intelligence suggests Iran’s uranium stockpile is still intact, officials say. Plus, the rise of sports gambling in Nigeria is being powered by social media influencers. Mentioned in this podcast: Early intelligence suggests Iran’s uranium largely intact, European officials say A defeat Keir Starmer cannot afford Keir Starmer in talks with rebel MPs in bid to head off welfare revolt The football betting influ...
Jun 27, 2025•12 min
Nato members decided on increased defence spending, the Federal Reserve is planning on cutting capital requirements for America’s biggest banks, and accounting firms are ready to open up to public markets. Plus, why US stocks are unfazed by the Israel-Iran conflict. Mentioned in this podcast: The US, Iran and markets The markets are silent — that is worrying Federal Reserve unveils plans to reduce capital rules imposed after 2008 crisis Accounting sector prepares for more IPOs after private equi...
Jun 26, 2025•10 min
US stocks almost hit record highs amid possible de-escalation in the Middle East, and Johns Hopkins University professor Vali Nasr analyses Iran’s future. Plus, the US Federal Reserve chair signalled no interest cuts this summer, and US states are sending delegates to the EU for advice on green policy. Mentioned in this podcast: Israel-Iran latest: JD Vance declares era of new Trump foreign policy doctrine The war that will remake Iran’s Islamic republic Iran at the precipice Jay Powell pushes b...
Jun 25, 2025•11 min
US president Donald Trump has said Israel and Iran have agreed a ceasefire, shifting priorities in the US are putting pressure on Nato members in Europe, and emerging markets defy US President Donald Trump’s trade war. Plus, the US has yet to find Iran’s uranium stockpile. Mentioned in this podcast: Donald Trump claims Israel and Iran have agreed ceasefire What happens to Nato if the US steps back? Where is Iran’s uranium? Search continues for 400kg stockpile Emerging markets defy investor gloom...
Jun 24, 2025•10 min
The US is now using force to try to eliminate Iran’s nuclear programme, and new tariffs on US household goods take effect. Plus, the chief executive of a Russian burger chain is petitioning President Vladimir Putin to block western businesses from returning, and the CEO of the fintech Revolut could be due for a major pay out. Mentioned in this podcast: US says it inflicted ‘severe damage’ on Iran’s nuclear programme Tariffs on household goods bring home costs of Trump’s trade wars Fake McDonald’...
Jun 23, 2025•11 min
Russia’s war-time economy is slowing down, and the EU is negotiating a trade deal with the US to keep some tariffs in place. Plus, the Bank of England votes to hold interest rates steady, and a UN official describes violence at aid distribution sites in Gaza. Mentioned in this podcast: Russia on brink of recession, says economy minister EU weighs UK-style trade deal with US Bank of England warns of weakening jobs market as it holds rates How Gaza’s food queues turned into kill zones Today’s FT N...
Jun 20, 2025•12 min
The Federal Reserve cut its outlook for the US economy on Wednesday, and in the UK, inflation remains higher than ideal. Plus, Big Tech companies are lobbying for a decade-long ban on AI regulations, and the Israel-Iran conflict has hit the global supply chain. Mentioned in this podcast: UK inflation was 3.4% in May Federal Reserve cuts outlook for US economy but holds interest rates steady Big Tech pushes for 10-year ban on US states regulating AI Insurers lift prices 60% for key Iran route as ...
Jun 19, 2025•11 min
US President Donald Trump demands unconditional surrender from Iran on social media, and the Iran-Israel conflict causes Trump to leave the G7 summit early. Plus, the EU relaxes merger rules on defence and Meta will bring advertisements onto its messaging platform WhatsApp. Mentioned in this podcast: Meta introduces advertising to WhatsApp in push for new revenues Donald Trump leaves G7 early as Iran-Israel conflict intensifies Brussels to loosen merger rules for defence companies Register for t...
Jun 18, 2025•11 min
Tensions rise as the EU refuses trade talks with China before next month’s leaders summit, and Airbus announced $10bn of orders at the Paris Air Show. Plus US President Donald Trump’s golden share means heavy influence in the Nippon Steel deal, and energy markets react to the conflict between Iran and Israel. Mentioned in this podcast: US Steel deal embodies golden age of Trump meddling Fuel and fury: energy becomes a Middle East battlefield EU spurns economic dialogue with China over deepening ...
Jun 17, 2025•11 min
Israel may not have big enough bombs to take down Iran’s most secure nuclear facility, and Nippon Steel’s bid to take over US Steel is finally moving forward. Plus, gold has surpassed the euro as the second most-popular reserve asset, and the UK’s overseas intelligence agency has appointed its first female chief. Mentioned in this podcast: Gold overtakes euro as global reserve asset, ECB says Silver and platinum prices soar as investors seek ‘gold alternatives’ The nuclear mountain that haunts I...
Jun 16, 2025•11 min
Today, we're bringing you the first episode from the new season of Hot Money. On Hot Money: Agent of Chaos, reporter Sam Jones investigates Wirecard’s chief operating officer — who vanished just as the high flying German fintech collapsed. It turned out he was a Russian spy. From an Ibizan sting operation to an attempted takeover of the Austrian intelligence service, Jones’ reporting spirals into a world of warlords, espionage and disinformation. All in an attempt to answer two questions: who is...
Jun 14, 2025•38 min
Israel has launched a strike against Iran, Argentina’s month-on-month inflation rate has fallen below 2 per cent, and Italian, Spanish and Greek sovereign bonds have rallied. Plus, investigators in India are looking into a fatal Boeing 787 crash and the US dollar sank to a three-year low. Mentioned in this podcast: Israel strikes Iran and braces for retaliation Dollar sinks to three-year low on Trump tariff threat Italy, Greece and Spain emerge as winners in bond market anxiety More than 240 dea...
Jun 13, 2025•11 min
The Pentagon has launched a review of the 2021 Aukus submarine deal with the UK and Australia, Donald Trump has said the US and China’s deal to restore their trade war truce is “done”, and US inflation rose less than expected to 2.4 per cent in May. Plus, European governments are braced for high-stakes negotiations with Trump that will put the continent’s defence, economy and security on the line. Mentioned in this podcast: Pentagon launches review of Aukus nuclear submarine deal Donald Trump sa...
Jun 12, 2025•11 min
The FT’s George Parker explains the winners and losers in UK chancellor Rachel Reeves’ spending review, the UK imposed the first western sanctions against Israeli government ministers,and Citigroup is poised to increase provisions for potential bad loans by hundreds of millions of dollars for the second quarter. Plus, US state and local governments are selling municipal bonds at a record pace on fears that Congress could partially pay for President Donald Trump’s “big, beautiful bill” by cutting...
Jun 11, 2025•11 min
The head of the operator of the Panama Canal has warned that a $23bn global ports deal could put the waterway’s neutrality mandate at risk, Donald Trump is testing the limits of presidential power by sending troops to Los Angeles, and Warner Bros Discovery will split into two publicly traded companies. Plus, Brazil is hoping to sell its first sovereign debt in the Chinese market to strengthen trade and investment ties. Mentioned in this podcast: Panama Canal boss warns MSC ports deal threatens p...
Jun 10, 2025•11 min
Syria is preparing to rejoin the international banking system, and Italian Prime Minister Giorgia Meloni’s rightwing government is trying to prevent a change to the country’s citizenship rules. Plus, US junk bond sales are booming ahead of fresh tariff uncertainty, and a German fintech is trying to bring cheap retail investing to Europe. Mentioned in this podcast: Syria to reconnect to global economy after 14 years as pariah state Italy’s vote on who gets to be Italian Italy votes on speeding up...
Jun 09, 2025•11 min
US President Donald Trump doubled tariffs on steel to 50 per cent this week. He’s also allowing Japan’s Nippon to buy the US Steel Corporation. The moves are meant to bring back manufacturing to America’s steel industry. But will they? FT senior trade writer Alan Beattie and Zehra Munir, the FT’s industrial reporter, discuss whether Trump can make good on a popular promise. Mentioned in this podcast: It’s always steel — tariffs provide Trump with a familiar trade weapon Donald Trump’s US Steel g...
Jun 07, 2025•18 min
US President Donald Trump and China’s leader Xi Jinping agreed to launch a new round of high-level trade talks, the European Central Bank cut interest rates by a quarter point and Europe is being flooded with steel diverted from the US because of high tariffs. Plus, the FT’s Aanu Adeoye explains how a Russia-backed junta leader in Burkina Faso became an icon across Africa. Mentioned in this podcast: Donald Trump and Xi Jinping agree to launch new round of trade talks Christine Lagarde signals EC...
Jun 06, 2025•12 min
Apple’s rollout of artificial intelligence services in China with Alibaba is being held up, Wells Fargo faces an uphill battle to catch up with its rivals after asset cap was lifted, and US President Donald Trump says Russian President Vladimir Putin is not ready for “immediate peace” with Ukraine. Plus, the European Commission has finally given Bulgaria the green light to join the Eurozone in 2026. Mentioned in this podcast: Apple and Alibaba’s AI rollout in China delayed by Trump trade war Wel...
Jun 05, 2025•10 min
Dutch Prime Minister Dick Schoof resigned after far-right leader Geert Wilders walked out of his coalition government, Mexico’s new supreme court is set to solely contain judges nominated by the ruling coalition, and Eurozone inflation fell below the European Central Bank’s 2 per cent target. Plus, the FT’s Akila Quinio explains how the Royal Bank of Scotland was nationalised in the wake of the 2008 financial crisis and then reborn. Mentioned in this podcast: Far-right Dutch leader Geert Wilders...
Jun 04, 2025•11 min
Elon Musk’s xAI is launching a $300mn share sale that values the group at $113bn, and China’s property sector woes are compounded by tariff worries. Plus, Poland’s new president is going to make life hard for the country’s prime minister, and the FT’s Amelia Pollard explains why US president Donald Trump wants to take mortgage giants Fannie Mae and Freddie Mac private. Mentioned in this podcast: EU companies more concerned about China slowdown than tariffs Donald Trump’s plans for Fannie and Fre...
Jun 03, 2025•11 min
Private equity dealmaking around the world slowed down in the second quarter of 2025, and South Korea holds elections on Tuesday after months of political instability. Plus, office space construction in the UK has reached a ten-year low, and Wall Street is warning that a little-publicised foreign tax provision in Donald Trump’s budget bill could upend markets. Mentioned in this podcast: Trump tariffs cut off recovery in private equity dealmaking Leftwing ‘brawler’ on verge of South Korea preside...
Jun 02, 2025•11 min
Republicans are often known as the party of fiscal responsibility. This week, Swamp Notes unravels the US House of Representatives’ “big, beautiful” bill and its uncertain path forward in the Senate. Edward Luce, US national editor and columnist, and James Politi, Washington bureau chief, explain what made congressional Republicans go all in on big spending, tax cuts and more debt. Subscribe to the new Swamp Notes feed here . Mentioned in this podcast: Read Edward Luce’s column on the new ‘moron...
May 31, 2025•19 min
The White House is fighting court rulings that US President Donald Trump’s ‘liberation day’ tariff scheme is illegal, and a former Goldman Sachs banker was sentenced to two years in prison for his role in the 1MDB scandal. Plus, how Wall Street offloaded billions of dollars of debt from Elon Musk’s Twitter deal. Mentioned in this podcast: Court tariffs bombshell should inspire trading partners to defy Trump Trade Secrets Newsletter Former Goldman Sachs banker sentenced to two years in prison for...
May 30, 2025•11 min
A US court invalidated President Donald Trump’s “liberation day” tariff scheme yesterday. Nvidia reported a nearly 70 per cent surge in quarterly revenues, and the US has said it will not renew Chevron’s oil licence in Venezuela. Plus, Texas and Nevada are seeking to challenge the dominance of Delaware with company-friendly law. Mentioned in this podcast: US trade court invalidates Donald Trump’s reciprocal tariffs Nvidia quarterly revenue surges nearly 70% on AI boom US government will not rene...
May 29, 2025•11 min
US stocks jumped yesterday after President Donald Trump said trade talks with the EU were headed in a "positive" direction, and McKinsey cut 10 per cent of its staff in an effort to increase profits. Plus, Asian currencies are getting a boost from investors’ bets on US trade deals and the FT’s Leslie Hook explains what’s next for Rio Tinto after it asked its chief executive Jakob Stausholm to step down. Mentioned in this podcast: US stocks jump as Donald Trump touts ‘positive’ progress on EU tra...
May 28, 2025•10 min
Russia’s full-scale invasion of Ukraine in 2022 kicked off a massive arms procurement race for Kyiv. Officials looked just about everywhere for weapons they could ship to the frontlines. However, Ukraine has lost hundreds of millions of dollars on fraudulent arms deals in the process. The FT’s Ukraine correspondent Isobel Koshiw and investigative reporter Miles Johnson share their reporting. Mentioned in this podcast: How Ukraine lost hundreds of millions on arms deals gone wrong Ukraine arms pr...
May 27, 2025•8 min
Today, we're bringing you an episode from our fellow FT podcast, Behind the Money. Massive conglomerates used to define corporate best practice. Think about a company like General Electric, known as “the everything company”. But today, there’s a new popular model: de-conglomeration. The FT’s former US energy reporter Amanda Chu examines whether this is working for a power business that GE spun off last year – or if it’s just another Wall Street fad. Clips from BBC, Bloomberg, DW - - - - - - - - ...
May 26, 2025•26 min
