The Federal Reserve held borrowing costs at a 23-year high yesterday, and Terraform Labs has agreed to pay $4.47bn in a case brought by the US Securities and Exchange Commission. Plus, tech companies launch a fight against a proposed California law to introduce a ‘kill switch’ on AI models. Mentioned in this podcast: Fed officials signal just one interest rate cut before end of 2024 Silicon Valley in uproar over Californian AI safety bill US inflation falls to 3.3% in May in boost to markets Ter...
Jun 13, 2024•9 min
Shari Redstone has ended talks with Skydance Media over a deal to control Paramount, the number of central banks seeking to increase their exposure to the US dollar has increased sharply this year, the EU plans to put hefty tariffs on Chinese electric vehicles, and the UK Tories' manifesto lays out billions in tax cuts. Plus, the FT’s Christine Murray explains why Mexico's peso slid after president-elect Claudia Sheinbaum proposed reforms. Mentioned in this podcast: EU to impose multi-billion eu...
Jun 12, 2024•11 min
Apple on Monday said it has partnered with OpenAI to integrate ChatGPT into its devices, and private equity groups are snapping up US accounting firms. Plus, President Emmanuel Macron stunned France on Sunday when he called snap parliamentary elections. The FT’s Leila Abboud unpacks what happens next for the country. Mentioned in this podcast: Apple partners with OpenAI as it rolls out new artificial intelligence system Private equity groups poised to own one in three top US accounting firms Emm...
Jun 11, 2024•11 min
Far right parties make significant gains in the European Union elections, opposition politician Benny Gantz has resigned from Israel’s emergency government, and Iranian authorities have disqualified prominent moderates as candidates in the snap presidential election. Plus, global investors are turning their backs on sustainability-focused stock funds. Mentioned in this podcast: Far-right parties make significant gains in European parliament elections Investors pull cash from ESG funds as perform...
Jun 10, 2024•12 min
Across the world, billions of citizens are being asked to cast their vote in elections taking place in more than 50 countries, making this a pivotal year for democracy. But these polls come as populist, illiberal and far-right parties are either growing in support or consolidating gains they have already made. In the second of this five-part series, the FT’s renowned economics commentator, Martin Wolf, speaks to the author and journalist Anne Applebaum, who’s witnessed first hand some of the sei...
Jun 09, 2024•36 min
Few of Silicon Valley’s biggest names supported Donald Trump in 2016 or 2020. Now, some of them are holding multimillion- dollar fundraisers for him. The FT’s US business and politics correspondent, Alex Rogers, and tech correspondent, Hannah Murphy, join this week’s Swamp Notes to explain why Big Tech is abandoning Joe Biden. Mentioned in this podcast: Donald Trump fundraiser latest sign of support in Silicon Valley Silicon Valley elite warms to Donald Trump Biden camp hits out at Elon Musk and...
Jun 08, 2024•13 min
The European Central Bank has cut interest rates for the first time in nearly five years, and the European Commission will recommend the start of EU accession talks with Ukraine this month. Plus, the FT’s Katie Martin explains how optimistic we should be about a revival of the London Stock Exchange. Mentioned in this podcast: ECB cuts interest rates for first time in five years A cautious revival of the London IPO market Ukraine ready for EU membership talks, Brussels says The FT News Briefing i...
Jun 07, 2024•11 min
Nvidia’s market value briefly rose past $3tn to overtake Apple as the world’s second-most valuable company, South Africa’s African National Congress party is considering the formation of a national unity government with rival parties, and UK Prime Minister Rishi Sunak was accused on Wednesday by Sir Keir Starmer of “resorting to lies” over Labour’s tax plans. Plus, a US appeals court has tossed out new rules that would have forced private equity and hedge funds to be more transparent. Mentioned ...
Jun 06, 2024•12 min
Gazprom is unlikely to recover gas sales lost as a result of Vladimir Putin’s full-scale invasion of Ukraine for at least a decade, India’s Prime Minister Narendra Modi is set to win a historic third term, job openings, vacancies and quits data provided more evidence of a cooling labour market in the US. Plus, Opec+ might be losing ground in its fight to prop up oil prices. Mentioned in this podcast: Gazprom badly hurt by Ukraine war, says company-commissioned report Narendra Modi set to lose pa...
Jun 05, 2024•9 min
US President Joe Biden is moving to sharply tighten immigration rules at the southern border with Mexico, Indian markets hit record highs after exit polls forecast a landslide election win for Prime Minister Narendra Modi, food delivery apps put new focus on profits despite slower growth following the coronavirus pandemic, and a new podcast from the Financial Times explores the fallout since Qatargate. Mentioned in this podcast: Food delivery apps rack up $20bn in losses in fierce battle for din...
Jun 04, 2024•11 min
Russia and China are deadlocked over a deal to build a gas pipeline connecting the two countries, far-right parties in Europe are gaining ground with younger voters, technical trouble could hamper Tesla’s upcoming shareholder election, and disagreement at OpenAI over safety and leadership has led to top level resignations. Mentioned in this podcast: Russia-China gas pipeline deal stalls over Beijing’s price demands Internal divisions linger at OpenAI after November’s attempted coup Tesla’s many ...
Jun 03, 2024•10 min
Across the world, billions of citizens are being asked to cast their vote in elections taking place in more than 50 countries, making this a pivotal year for democracy. But these polls come as populist, illiberal and far-right parties are either growing in support or consolidating gains they have already made. In the first of this five-part series, the FT’s renowned economics commentator Martin Wolf tells executive opinion editor Jonathan Derbyshire why he worries about the consequences for the ...
Jun 02, 2024•45 min
Former US president Donald Trump was found guilty on 34 felony charges of falsifying business records on Thursday, a first for any current or former American president. However, with the Republican nomination all but secured, the conviction may do little to knock Trump’s reelection campaign off course. The FT’s US managing editor, Peter Spiegel, and US legal correspondent, Joe Miller, join this week’s Swamp Notes to explain why. Mentioned in this podcast: Donald Trump found guilty on all counts ...
Jun 01, 2024•14 min
Donald Trump has been found guilty of conspiring to buy the silence of a porn actor and Saudi Arabia is selling roughly $12bn worth of shares in its national oil company Saudi Aramco. Plus, European oil majors are left at a disadvantage in several areas when it comes to M&A. Mentioned in this podcast: Donald Trump found guilty on all counts in ‘hush money’ trial Saudi Arabia to sell $12bn worth of Aramco shares Why the European oil megamerger has not gushed forth The FT News Briefing is prod...
May 31, 2024•11 min
Europe has only a fraction of the air defence capabilities needed to protect its eastern flank, BHP’s £39bn takeover bid for Anglo American has collapsed, and Israel bonds are a hot commodity in US municipalities. Plus, the FT’s Brooke Masters explains why private equity firms are pivoting towards profit sharing. Mentioned in this podcast: Nato has just 5% of air defences needed to protect eastern flank Israel’s borrowing spree reaches Palm Beach as US municipalities pile in BHP’s £39bn pursuit ...
May 30, 2024•11 min
Hess shareholders approved a controversial takeover bid from Chevron, and South Africans vote today in the most contested election since the end of apartheid,Plus, the FT’s James Kynge argues that China is winning the tech war with the US. Mentioned in this podcast: South Africa’s ‘lost leader’ faces the end game Georgia adopts Russian-inspired ‘foreign agents’ law Tech Tonic podcast The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional h...
May 29, 2024•12 min
This episode features a truncated version of a recent Behind the Money podcast as it travels to Omaha, Nebraska for Berkshire Hathaway’s annual shareholder meeting. At this year’s event, there’s a lingering question over what will happen once Warren Buffett is no longer at the helm. Buffett has a successor in mind, and we explore the challenges they could face when taking over America’s “last great” conglomerate. Mentioned in this podcast: Behind the Money podcast Berkshire after Buffett: prized...
May 28, 2024•11 min
The European Central Bank looks almost certain to be one of the first major central banks to cut rates, a tense dispute over Guyana is casting a shadow over Chevron’s bid to takeover Hess, and Thames Water pumped 14.2bn litres of sewage into the river Thames last year. Plus, the nuclear power industry is seeking to lure back thousands of retired engineers. Mentioned in this podcast: ECB is ready to start cutting interest rates, says chief economist Blow to $53bn Chevron-Hess deal as investors ad...
May 27, 2024•11 min
American voters still say the economy is their most important electoral issue, and a growing number are less than pleased with Joe Biden’s economic management. The FT’s deputy Washington bureau chief, Lauren Fedor, and the vice-president of North Star Opinion Research, Jon McHenry, join this week’s Swamp Notes to break down the results of the most recent FT-Michigan Ross poll. Mentioned in this podcast: Support for Joe Biden’s economic policies wanes amid inflation fears, FT poll finds FT-Michig...
May 25, 2024•14 min
Elon Musk’s xAI has secured new backing from three Silicon Valley venture capital giants, women in Ukraine have increasingly stepped into roles men used to perform before Russia’s full-scale invasion, and the FT’s Soumaya Keynes explains why the UK’s Labour party benefits from being boring. Mentioned in this podcast: Elon Musk’s xAI secures new backing from Andreessen Horowitz, Sequoia and Tribe Ukrainian women wanted in factories as men drafted into army How large might Labour’s ‘dullness divid...
May 24, 2024•11 min
Rishi Sunak has taken a huge gamble by announcing a July 4 election, record sales of artificial intelligence chips sent Nvidia’s revenue soaring 262 per cent in the past quarter Adani Group passed off low-quality coal as far more expensive cleaner fuel in transactions with an Indian state power utility, according to evidence seen by the Financial Times, and the first batch of genetically engineered non-biting mosquitoes will be released in Djibouti on Thursday. Mentioned in this podcast: Rishi S...
May 23, 2024•10 min
UK deputy prime minister Oliver Dowden went on a secret trip to the UAE, PwC is bracing for penalties over its audit of collapsed Chinese property developer Evergrande, and traders are anticipating huge swings in Nvidia shares after the company reports earnings on Wednesday. Mentioned in this podcast: UK launches charm offensive with UAE after relations sour PwC partners brace for Chinese punishment over Evergrande audit Traders brace for big swings in Nvidia shares EU trade deficit with China s...
May 22, 2024•12 min
The death of Iranian President Ebrahim Raisi has dealt a shocking blow to the Islamic regime, and the public mood in advanced countries remains low as the cost of living crisis keeps households under pressure. Plus, the decision by the chief prosecutor of the International Criminal Court to apply for arrest warrants against Benjamin Netanyahu and Yoav Gallant is a huge setback for Israel. Mentioned in this podcast: The Rachman Review podcast A crushing blow for Israel and a massive gamble by the...
May 21, 2024•12 min
A helicopter carrying Iranian President Ebrahim Raisi crashed on Sunday, Niger is on the verge of becoming a regional oil major, and western countries are trying to replace a UN body that monitors compliance with international sanctions on North Korea. Mentioned in this podcast: Helicopter carrying Iran’s president crashes Border dispute hinders Niger’s China-built oil pipeline Russia has stopped UN from monitoring North Korea sanctions. Who is watching Kim? The FT News Briefing is produced by F...
May 20, 2024•11 min
A special live recording of the FT News Briefing at the FT Weekend Festival in Washington, DC on May 4, 2024. Our wonderful colleagues played a friendly game of news trivia. How does your knowledge stack up? The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Breen Turner, 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...
May 19, 2024•20 min
Joe Biden once criticised Donald Trump’s trade war with China, but things look a lot different in an election year. The FT’s US climate reporter, Aime Williams, and US financial editor, Brooke Masters, join Swamp Notes to explain why the president announced such sweeping tariffs on Chinese goods this week, and how it could help him win votes. Mentioned in this podcast: Why Washington’s new tariffs on Chinese clean tech goods matter Joe Biden and Donald Trump battle to prove who can be toughest o...
May 18, 2024•12 min
The US Supreme Court rejects an existential legal challenge to the country’s top consumer finance watchdog, a $10bn US property fund is running low on liquidity as investors demand their money back, and Russia and China agree to tighten military ties and deepen their economic partnership after talks in Beijing. Plus, central banks around the world are impatiently waiting for the Federal Reserve to cut interest rates. Mentioned in this podcast: US Supreme Court rejects challenge to top consumer f...
May 17, 2024•11 min
The US inflation report sent stocks to record highs and Slovak Prime Minister Robert Fico was shot on Wednesday. Plus, the FT’s John Reed explains why India’s Prime Minister Narendra Modi is so popular. Mentioned in this podcast: US inflation falls to 3.4% in April Slovak premier Robert Fico shot and injured Narendra Modi launches candidacy in India’s marathon election How to understand Modi’s India CREDIT: Sansad TV The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalia...
May 16, 2024•11 min
The Biden administration is encouraging Arab states to participate in a multinational force that could deploy in Gaza once the war ends, Anglo American plans to thwart BHP’s £34bn takeover bid by breaking itself up, and the US is sharply raising tariffs on Chinese imports from electric vehicles to solar cells. Plus, Singapore’s new prime minister has his work cut out. Mentioned in this podcast: US encouraging Arab states to join multinational postwar force in Gaza Anglo American plans break-up t...
May 15, 2024•10 min
The carmaker behind Fiat and Peugeot is in talks to invest in Indonesian nickel, the meme-stock movement came back to life, and Chinese authorities have kicked off plans to sell $140bn of long-dated bonds to stimulate the economy. Plus, what Russia’s new defence minister means for the country’s war effort Mentioned in this podcast: GameStop soars in meme stock flashback as ‘Roaring Kitty’ reappears Who is Andrei Belousov, Russia’s new defence minister? Stellantis in talks with Vale to invest in ...
May 14, 2024•10 min
