The issue of immigration might be Donald Trump’s biggest political boon ahead of the US election in November, but President Joe Biden went to the US-Mexico border this week to try to change the narrative. The FT’s Houston correspondent, Myles McCormick, and US political news editor, Derek Brower, join this week’s Swamp Notes to examine whose case voters find more convincing. Credit: Fox10, PBS NewsHour Mentioned in this podcast: Surge in border crossings creates political upheaval in the US Joe ...
Mar 02, 2024•13 min
The cost of Rishi Sunak’s plan to send asylum seekers to Rwanda could exceed £580mn by the end of the decade, and Toyota’s bet on hybrid vehicles has paid off, so far. Plus, the FT’s Samuel Agini explains how Formula One is trying to reinvent itself. Credit: Formula 1; Netflix Mentioned in this podcast: Rishi Sunak’s Rwanda asylum scheme could cost UK £580mn, watchdog warns Was Toyota’s bet on hybrid cars right all along? Formula One’s growing pains The FT News Briefing is produced by Fiona Symo...
Mar 01, 2024•12 min
Uber chief executive Dara Khosrowshahi has received about $136mn in stock options after hitting a performance target, and Adani is working to push India’s military capabilities. Plus, the FT’s Stephen Foley explains why McKinsey is drawing ire from US lawmakers. Mentioned in this podcast: US Supreme Court will hear Trump presidential immunity appeal McKinsey-led think-tank advised China on policy that fed US tensions McKinsey website touted its advice to Chinese government ministries Adani answe...
Feb 29, 2024•10 min
Vladimir Putin’s forces have rehearsed using tactical nuclear weapons at an early stage of conflict with a major world power and Emmanuel Macron, president of France, has refused to rule out sending troops to Ukraine. Plus, profits for the biggest US oil and gas producers have almost tripled under President Joe Biden, even as the industry berates his administration’s 'hostile' policies. Mentioned in this podcast: Leaked Russian military files reveal criteria for nuclear strike Macron says sendin...
Feb 28, 2024•9 min
Sweden is set to become a Nato member, the UK Financial Conduct Authority is planning to name firms under investigation at a much earlier stage, and Microsoft has struck a deal with a French artificial intelligence start-up to broaden its involvement in the industry beyond OpenAI. Mentioned in this podcast: Sweden overcomes final hurdle to join Nato in historic shift FCA plans to name firms under investigation in UK deterrence drive Microsoft strikes deal with Mistral in push beyond OpenAI The F...
Feb 27, 2024•9 min
Israel plans to raise debt and taxes to fund its war in Gaza and global house prices are on the rise. Plus, FT correspondent Paola Tamma discusses some of the troubles plaguing the EU’s key pandemic stimulus fund. Mentioned in this podcast: US biotech fundraising boom ends 2-year deal drought Is the EU’s Covid recovery fund failing? Global house prices rebound as economists predict turning point Israel plans $60bn debt raising and tax rises to fuel defence spending The FT News Briefing is produc...
Feb 26, 2024•10 min
Former US President Donald Trump is the subject of four criminal cases and several civil suits. That means the presumptive Republican nominee will be spending a lot of time in courtrooms ahead of voting day in November. Still, it looks like all these legal liabilities might be giving him a political boost. The FT’s US legal and defence correspondent, Stefania Palma, and US managing editor, Peter Spiegel, join this week’s Swamp Notes to explain why. Mentioned in this podcast: Are US presidents ab...
Feb 24, 2024•13 min
The UK and EU will on Friday sign a deal to co-operate more closely in tackling illegal immigration and criminal gangs, and Japan’s Nikkei 225 index hit a record high after 34 years. Plus, the FT’s Alison Killing talks about Russia’s failed rebuilding of the Ukrainian city of Mariupol. Mentioned in this podcast: UK and EU agree to co-operate more closely on migration Japan’s Nikkei 225 index eclipses record high after 34 years Inside Mariupol: Russia’s new Potemkin village The FT News Briefing i...
Feb 23, 2024•12 min
Nvidia’s net income soared nearly 800 per cent in the latest quarter compared to the same period in 2022, HSBC reported an 80 per cent drop in quarterly profit, and Boeing is replacing the executive in charge of manufacturing its 737 Max aircraft. Plus, Indonesia’s incoming president is creating concerns for the country’s democracy. Mentioned in this podcast: Nvidia declares AI ‘tipping point’ as quarterly revenues jump 265% HSBC shares fall most since 2020 after profits plummet 80% Boeing ousts...
Feb 22, 2024•9 min
Donald Trump is losing support from small donors, US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, and Barclays updated investors on its strategy for the first time in eight years. Mentioned in this podcast: Donald Trump’s donor numbers fall by 200,000 compared with 2019 Capital One agrees to buy Discover Financial for $35bn Barclays to return £10bn to shareholders Subscribe to the FT US Election Countdown newsletter The FT News Briefing is produced by Fiona Symon, S...
Feb 21, 2024•10 min
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 war Can OpenAI create superintelligence before it runs out of cash? External Link Battle for Avdiivka tests Ukraine’s new commander The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Josh Gabert-Doyon, Manuela Saragosa, Sam Giovi...
Feb 20, 2024•12 min
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 China Navalny’s allies accuse Russian authorities of trying to cover up his death EU to hit Apple with first ever fine in €500mn penalty over music streaming The FT News Briefing is produced by Fiona Symon, Sonja Hut...
Feb 19, 2024•11 min
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 steroids Donald Trump says Russia can do what it wants to Nato allies who pay too little Sign up for the FT’s Swamp Notes news...
Feb 17, 2024•13 min
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 production JPMorgan and State Street quit climate group as BlackRock scales bac...
Feb 16, 2024•12 min
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 cuts Will Germany deliver on its grand mil...
Feb 15, 2024•11 min
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 figu...
Feb 14, 2024•12 min
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 ...
Feb 13, 2024•11 min
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 jail EY took on $700mn in debt for doomed ‘Project Everest’ spin-off plan Shein seeks Chinese regulators’ tacit approval for US public offering Tech companies axe 34,000 jobs since start of year in pivot to AI The FT News Bri...
Feb 12, 2024•11 min
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. ...
Feb 11, 2024•43 min
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 economy Sign up f...
Feb 10, 2024•11 min
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 target Disney, Fox and Warner sports streaming platform foreshadows consolidation OpenAI on track to hit $2bn revenue milestone as growth skyrockets The FT News Briefing is produced by Fiona Symon, Son...
Feb 09, 2024•11 min
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 investment Geert Wilders struggles to find coalition partners in the Netherlands Uber records first annual profits as market value approaches $150bn Benja...
Feb 08, 2024•10 min
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 chair BP targets boost for r...
Feb 07, 2024•11 min
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: Ch...
Feb 06, 2024•11 min
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 her BNP Paribas shares fall after downgrade to profit target Deutsche Bank pledges to boost dividend and cut jobs Santander earnings boosted by strong ...
Feb 05, 2024•11 min
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....
Feb 03, 2024•12 min
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 Ukraine US to put sanctions on Israeli settlers responsibl...
Feb 02, 2024•11 min
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 cuts Viktor Orbán: what is the end game for Europe’s chief disrupter? Boeing postpones annual guidance amid 737 Ma...
Feb 01, 2024•11 min
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 revenue Alphabet’s advertising growth falls short of Wall Street expectations IMF raises Russia growth outlook as war boosts e...
Jan 31, 2024•12 min
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 elsewhere Chinese developer Evergrande ordered to be wound up by Hong Kong court China Evergrande liq...
Jan 30, 2024•10 min
