A rundown of the most important global business stories you need to know for the coming day, from the newsroom of the Financial Times. Available every weekday morning.
The world’s most famous investor says he plans to step down after six decades leading Berkshire Hathaway, and Chinese exporters are turning to third countries to get around 145 per cent US tariffs. Plus, local Nigerian oil companies are starting to replace foreign majors, and Israel calls up reservists to support its expanded operations in Gaza. Mentioned in this podcast: Warren Buffett to step down from Berkshire Hathaway after six decades Chinese exporters ‘wash’ products in third countr...
US President Donald Trump has garnered a lot of criticism since he enacted his trade war. But there are people who still defend the tariffs, including Oren Cass, chief economist of the conservative thinktank American Compass. Cass is a contributor to the FT’s opinion pages, and he joins the FT’s US national editor and columnist Edward Luce to discuss why some conservatives still find value in tariffs. Mentioned in this podcast: Trump has no idea what he has unleashed Europe must choose bet...
Amazon warned of the impact of Donald Trump’s global trade war and issued weaker-than-expected guidance for the second quarter, and Australians head to the polls this weekend caught in the crossfire of the US-China trade war. Plus, European banks had a great first quarter thanks to global market volatility. Mentioned in this podcast: Amazon falls after profit forecast misses expectations Australia: caught between a slowing China and a chaotic US UBS, Barclays and SocGen reap trading windfa...
Microsoft posted better than expected quarterly earnings on Wednesday, Spain is trying to figure out what caused a massive power outage, and the Conservatives are bracing for heavy losses in local England elections. Plus, the FT’s Claire Jones explains what we can take away from the latest US GDP reading. Mentioned in this podcast: US and Ukraine sign natural resources deal Microsoft shares jump after software giant’s earnings top forecasts US economy contracts at 0.3% rate as Trump tariff...
Donald Trump unveiled more tariff relief for some carmakers, and shares in a number of companies surged in Tokyo after a plan for carmaker Toyota Motor to take one of its subsidiaries private. Plus, Wall Street economists forecast that US GDP shrank in the first quarter, and contrary to some stereotypes, Generation Z is leading the charge back to the office. Mentioned in this podcast: Wall Street banks predict GDP contraction after US trade deficit hits record Donald Trump set to announce ...
The oil industry is bracing for its worst year since the pandemic, and Spain and Portugal are reeling from a massive power outage. Plus, the FT’s Emily Herbert explains why the flight into the Swiss franc is causing a headache for the country’s central bank. Mentioned in this podcast: Big Oil braced for worst year since pandemic as bumper profits recede Spain declares state of emergency in the wake of huge power outage Swiss franc surge sparks bets on return to negative interest rates The ...
Canadians will head to the polls Monday to pick a prime minister, and a new US proposal to end the War in Ukraine would allow Russia to keep some of the territory it’s conquered. Plus, Hungary’s government may be funneling money to friendly news outlets, and major American companies are starting to speak up about Donald Trump’s trade war. Mentioned in this podcast: Canadians head to the polls to elect new prime minister Putin and Trump envoy hold ‘constructive’ meeting, Russian official sa...
Just a few weeks ago, US President Donald Trump was ready to levy tariffs on basically every nation. Today, many of those tariffs have been paused or tempered. Additionally, this week he promised he will not be firing Federal Reserve chair Jay Powell, despite his earlier criticism. Should we expect more backstepping from Trump in the face of economic data? And what do the voters think of it all? FT economics editor Sam Fleming joins alongside Jon McHenry, vice-president of the conservative polls...
Apple plans to shift the assembly of all US-sold iPhones to India as soon as next year, factories in China have begun slowing production and furloughing some workers in the aftermath of US tariffs, and Alphabet shares rose after it reported first-quarter profit surged 46 per cent. Plus, the Trump administration wants to stamp out one of America’s enduring financial pastimes: writing paper cheques. Mentioned in this podcast: Alphabet shares jump as Google search boosts profits Apple aims to sourc...
Sir Keir Starmer and Ursula von der Leyen will on Thursday finalise plans for a new defence pact, US Treasury secretary Scott Bessent has accused the IMF and World Bank of “mission creep” and Boeing reported lower than expected losses. Plus, Tesla chief executive Elon Musk looks to right the electric-car company by reducing his role in the Trump administration. Mentioned in this podcast: UK and EU finalise plans for defence pact Musk drives Tesla calmly through investors’ red lights Scott Bessen...
Tesla’s first-quarter adjusted profits dropped 39 per cent and the IMF has downgraded outlooks for G7 nations and big economies such as China and India. Plus, we take a look at whether BP can turn things around to catch up with its rivals. Mentioned in this podcast: Elon Musk to prioritise Tesla over White House role as profits slump IMF warns of rising US recession risk and defends Fed policy Vladimir Putin offers to halt Ukraine invasion along current front line Will going back to basics...
Wall Street stocks dropped as President Donald Trump attacked Federal Reserve chair Jay Powell, Pope Francis passed away on Monday after leading the Catholic Church for 12 years, and more than half of nearly 1,500 business leaders support a shift to a renewables-based electricity system. Plus, Europe is now seeking to take advantage of China’s electric vehicle manufacturing expertise. Mentioned in this podcast: US stocks and dollar sink as Trump renews attacks on Fed chair Powell Pope Francis di...
Luxury goods were supposed to be making a comeback this year. But US President Donald Trump’s trade war has complicated that and things are looking grim for the industry. The FT’s fashion editor Lauren Indvik explains where things stand with LVMH, Prada and others. Mentioned in this podcast: Donald Trump’s trade war shatters hopes of 2025 luxury revival The FT News Briefing is produced by Katya Kumcova, Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filip...
Swamp Notes is taking this weekend off so instead we wanted to share the latest episode from our fellow FT podcast, The Rachman Review. Nuclear talks between the US and Iran began last weekend in Oman, and are set to continue in the coming weeks. President Trump has warned that if the talks fail the US could take military action against the Islamic republic – an idea that Israel's government is pressing for. In this episode, we unpack what a new nuclear deal with Iran might look like – and how i...
This episode of the FT News Briefing covers China halting US liquefied natural gas imports due to tariffs, Japan's trade negotiations with the US amidst unexpected tactics from Donald Trump, the European Central Bank's interest rate cut, and astronomers finding potential signs of life on a planet 124 light years away.
This episode of the FT News Briefing covers several key economic stories. It begins with the Federal Reserve's concerns about tariffs impacting inflation and employment. Then explores the unexpected outperformance of emerging markets compared to U.S. stocks. The briefing also discusses the drop in UK inflation and potential interest rate cuts, concluding with challenges in the chip industry due to trade tensions and market uncertainty.
Nvidia says it expects to take a $5.5bn blow as the US clamps down on the Silicon Valley group’s ability to export artificial intelligence chips to China, and PwC is exiting 12 countries. Plus, the junk bond market has basically ground to a halt, and India’s middle class is dealing with a debt crisis that could impact the country’s growth ambitions. Mentioned in this podcast: Nvidia to take $5.5bn hit as US clamps down on exports of AI chip to China Risky corporate borrowers shut out of bo...
Brussels is exploring legal options that would allow European companies to break long-term Russian gas contracts, and Goldman Sachs had a mixed first quarter. Plus, China’s President Xi Jinping is traveling around south-east Asia to make the case that Beijing is open for business, and Argentina just landed a $20bn deal with the IMF. Mentioned in this podcast: Xi Jinping warns ‘no winners’ from Trump trade war as he heads to Vietnam Argentina secures $20bn IMF deal by relaxing currency cont...
This episode discusses the potential temporary nature of US tariff exemptions on electronics, the surprisingly positive earnings reports from big banks despite economic headwinds, the growing defense cooperation between the EU and the UK, the risk of a brain drain from US universities due to Trump administration policies, and a new AI tool for workplace compliments.
US President Donald Trump’s global trade war has made a mess for the Federal Reserve. Despite an encouraging US consumer price index report this week, there are major concerns about the inflationary nature of Trump’s tariffs. Meanwhile, the Fed has cut growth forecasts. And if all that wasn’t enough, Trump is breathing down chair Jay Powell’s neck to cut interest rates. The FT’s US economics editor Claire Jones and economics commentator Chris Giles explain why the central bank is caught in a dif...
US inflation fell more than expected to 2.4 per cent in March, and France’s Renault is one of the few carmakers insulated from Donald Trump’s trade war. Plus, Indonesia is looking to run its colossal new sovereign wealth fund “like a public company”. Mentioned in this podcast: US inflation falls more than expected to 2.4% in March Indonesia’s new sovereign wealth fund vows transparency ‘like a public company’ Renault emerges as winner in Trump tariff chaos Sky to bring hit U...
US stocks surged on Wednesday after Donald Trump paused ‘reciprocal’ tariffs for 90 days. Plus, the EU and China are working on a new trade relationship because of the levies. Meanwhile, Apple is looking to boost production in India. Mentioned in this podcast: EU calls for ‘negotiated resolution’ with China in face of US tariffs Apple turns to India to help ease Trump’s China tariffs US stocks soar as Donald Trump backs down in global trade war The FT News Briefing is produced by Fiona Sym...
Donald Trump is pushing ahead with another 50 per cent tariff on Chinese goods, and there are questions about what will happen to nearly $2tn worth of pledges to invest in the US because of the levies. Plus, the FT’s Katie Martin explains why a selloff in US Treasuries could mean a world of hurt for markets. Mentioned in this podcast: Donald Trump to proceed with extra 50% tariff on China as trade war escalates US tariffs threaten almost $2tn of investment pledges by global companies ...
Equities markets continued to adapt to the tariffs unleashed by US President Donald Trump, oil prices hit a four-year low on Monday, and investors are expecting the European Central Bank to make two rate cuts by July. Plus, the FT’s Stephen Foley explains how consultants are advising their clients on limiting the damage from tariffs. Mentioned in this podcast: Oil drops further as fears of global recession rise Companies get creative in finding ways to limit impact of Trump’s tariffs...
The UK plans to introduce a lighter regulatory regime for private equity and hedge funds, and Italy may block an EU plan to respond to US President Donald Trump’s tariffs. Plus, popular ‘private browsing’ apps hosted by Apple and Google may violate American sanctions, and the trade war has triggered the biggest sell-off in the US junk bond market since 2020. Mentioned in this podcast: Apple and Google app stores host VPNs linked to sanctions-hit Chinese group Britain to dilute rules for pr...
Ed Luce analyzes Trump's new tariffs, revealing they are based on trade surpluses rather than actual trade barriers, causing global economic disruption. This aggressively unilateralist approach isolates the US, pushing other countries towards China and undermining America's negotiating power on global issues. Domestically, the tariffs are expected to raise prices and negatively impact Trump's approval ratings, potentially leading to voter backlash.
US President Donald Trump’s tariffs caused a global market sell-off on Thursday. Now, there are concerns that these levies will push the US into a recession. We speak to the FT’s senior markets correspondent Ian Smith and our economics editor Sam Fleming about the repercussions. Mentioned in this podcast: Dollar drops as Donald Trump’s tariffs stoke economic fears Bling, bags and booze fall victim to Trump’s trade war Will Donald Trump’s ‘liberation day’ tariffs drag US into recessio...
The FT News Briefing discusses Trump's new tariffs on trading partners and the implications for the global trade landscape. It also covers Tesla's stock surge amid reports of Elon Musk potentially leaving his government role, and the challenges Tesla faces. Finally, the briefing analyzes the impact of Marine Le Pen's ban from standing in French elections.
US venture capital giant Andreessen Horowitz is in talks to invest in social media platform TikTok, US President Donald Trump is expected to lay out his sweeping tariffs policy today, and European inflation is down for the second straight month. Plus, Syria’s White Helmets have returned to Damascus as the country tries to rebuild from its brutal civil war. Mentioned in this podcast: Andreessen Horowitz in talks to help buy out TikTok’s Chinese owners What to expect on ‘liberation day’ Euro...
Google’s artificial intelligence arm DeepMind has been holding back the release of its world-renowned research, and Elon Musk has poured an unprecedented amount of money into a Wisconsin state supreme court race. Plus, Lebanon’s new central bank governor Karim Souaid has been mired in controversy. Mentioned in this podcast: DeepMind slows down research releases in battle to keep competitive edge The people vs Elon Musk: billionaire transforms Wisconsin court contest Lebanon closes in on ne...
