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.
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US pressure on Ukraine and its allies to agree a peace deal with Russia ignites fresh concern in Europe, and the US has officially designated Venezuela’s “Cartel of the Suns” a terror group. Plus, Europe looks to increase investment rules to stand up to China, and a look at why insurance companies are thinking about excluding AI risks from their corporate policies. Mentioned in this podcast: Trump hits out at Ukraine and Europe as confusion over US position mounts What is Venezuela’s ‘Cartel of ...
Tech stocks have been on a rollercoaster since Nvidia reported earnings, the US added 119,000 jobs in September but unemployment reached its highest level in four years, and the US has formally handed Ukraine a sweeping peace plan drawn up with Moscow. Plus, we’ll go over all the drama that’s ensued in the run-up to the G20 conference in South Africa. Mentioned in this podcast: US tech stocks slide as jolt of volatility hits Wall Street The American exceptionalism trade is wobbling US adds 119,0...
Nvidia grew sales of its chips even faster than Wall Street anticipated in its latest quarter, and UK inflation fell to 3.6 per cent in October. Plus, Paramount is trying to buy Warner Brothers Discovery and China’s opaque economic data is coming under scrutiny. Mentioned in this podcast: Nvidia reports strong growth from bumper AI chip sales The president’s men: Ellisons’ Trump ties shape battle for Warner Bros UK inflation falls to 3.6% in October The growing problem with China’s unreliable nu...
Meta has won the antitrust case that threatened to break it apart, the EU plans to create a central body to co-ordinate the purchasing and stockpiling of critical minerals. Plus, US tech stocks sold off on Tuesday as worries mounted over high valuations for artificial intelligence companies, and activist hedge fund Elliott Management has built a large stake in Barrick Mining. Mentioned in this podcast: Meta wins US case that threatened split with WhatsApp and Instagram Brussels plans minerals st...
The cryptocurrency market is struggling as bitcoin has lost all its gains from this year, and HSBC leaders cannot agree on the bank's next chair of the board. Plus, the US House of Representatives votes on the release of the Jeffrey Epstein files today, and the Financial Times’ Alison Killing explains why an estimated multitrillion-dollar infrastructure project in Saudi Arabia may take decades to get done. Mentioned in this podcast: Crypto market sheds $1.1tn as traders shun speculative assets H...
Goldman Sachs is set for its best M&A performance in decades amidst a busy deals period. The UK's bond market faces fresh worries as Chancellor Rachel Reeves ditched an income tax hike, raising concerns about public finances, though it's not a repeat of the Liz Truss crisis. Meanwhile, Spain's budget deficit is projected to fall below Germany's, showcasing its fiscal recovery. The US government shutdown has complicated reliable economic data collection, impacting Federal Reserve decisions. Finally, a new lead poisoning screening study is launching in the UK following an FT investigation.
Oracle’s enormous borrowing to fund a push into artificial intelligence computing has spooked investors, Sir Jim Ratcliffe’s heavily indebted empire, Ineos, is under increasing financial pressure, and we take a look at a glaring hole in US inflation data. Plus, the FT’s Sonja Hutson reports back from Bethlehem, Pennsylvania, as part of a new FT series. Mentioned in this podcast: Oracle hammered in tech sell-off over its huge AI bet Ineos debt sell-off accelerates amid fears over European chemica...
US government shutdown nears an end as House approves funding deal, European carmakers and other industrial companies continue to face “devastating” chip shortages, and Scotland has been handed the same credit rating as the UK, in a boost to Edinburgh as it plans to launch an inaugural bond sale. Plus, an increasing number of wealthy Chinese people are trying to set up family offices and secure residency in the Gulf, rather than Singapore. Mentioned in this podcast: US government shutdown nears ...
The International Energy Agency says global oil and gas demand will rise for the next 25 years if the world does not change course; Masayoshi Son’s SoftBank Group has sold its entire stake in Nvidia; and investors have been selling off the debt of US tech heavyweights. Plus, Italian Prime Minister Giorgia Meloni’s plan to reduce income taxes for the “middle-class” has sparked criticism that she is helping the rich. Mentioned in this podcast: Oil and gas demand to rise for 25 years without global...
The FT News Briefing discusses Saudi Aramco's strategic shift towards natural gas production to power surging demand from AI data centers, significantly increasing its output targets. It also delves into Donald Trump's billion-dollar lawsuit threat against the BBC for alleged defamatory editing of his January 6th speech, exploring the ensuing BBC leadership crisis and questions of impartiality and funding. Finally, the episode highlights the monumental $23 billion Simandou iron ore project in Guinea, a Chinese-led venture that promises to reshape the global iron ore market, challenging traditional producers and boosting China's influence.
The US Senate takes the first step to ending the government shutdown, and COP30 climate talks kick off in Brazil. Plus, stricter regulation puts the squeeze on Switzerland’s prized finance sector. And, can Indian Prime Minister Narendra Modi’s push to counter US tariffs help Zoho truly rival Whatsapp? Mentioned in this podcast: US senators strike deal in first step to ending government shutdown The world is struggling to halt climate change. But can it adapt? Swiss finance shrinks as regulators ...
Tesla shareholders overwhelmingly approved Elon Musk's controversial $1 trillion pay deal, while Hungary's Prime Minister Viktor Orbán traveled to Washington to seek a crucial exemption from new US sanctions on Russian oil from Donald Trump. Separately, the Bank of England kept interest rates on hold, and despite anticipated tax rises and political turmoil, UK bond markets have remained surprisingly calm. The episode also includes an update on the intense bidding war between Pfizer and Novo Nordisk for the drug startup Metzera.
This episode delves into key global financial stories, starting with Argentine President Javier Milei's refusal to float the peso freely despite investor pressure, aiming to curb currency volatility. It then shifts to the US Supreme Court, where justices appeared skeptical of former President Trump's use of emergency powers to impose tariffs, a decision crucial for future economic policy. Finally, the podcast details the messy bankruptcy of First Brands, highlighting allegations of multi-billion dollar fraud against its founder and the impending battle among creditors.
US voters issued a rebuke of President Donald Trump, US stocks dropped on Tuesday as jitters over highly elevated valuations for many artificial intelligence companies intensified, and some investors are worried there’s an AI bubble in Asian stocks as well. Plus, UniCredit’s ambition to become a European banking powerhouse has hit a series of roadblocks. Mentioned in this podcast: US election results live Listen to the Swamp Notes podcast US stocks slide as investors fret over high valuations fo...
This episode covers Palantir's continued success in AI, boosting its sales guidance for 2025. It details Pfizer's aggressive legal strategy against Novo Nordisk's acquisition of Metsera, an American biotech developing next-generation weight-loss treatments, highlighting the fierce competition in the pharma sector. Also discussed is OpenAI's significant $38 billion computing deal with Amazon Web Services, and the Trump administration's preliminary discussions to promote wider global dollar adoption amidst China's efforts to reduce its use in emerging markets.
The US Supreme Court begins hearing arguments this week for President Trump’s tariff policy. Plus, voters will head to the polls for state races seen as a referendum on the first year of Trump’s second term, and private equity may be full of zombie firms in the next decade. Then, a look at how China is filling a gap in the solar-energy space. Mentioned in this podcast: Businesses press Supreme Court to strike down Trump’s emergency tariff power Trump and plastic bags: New Jersey is bellwether of...
The FT News Briefing discusses tech giants Amazon and Apple's impressive earnings, driven by cloud computing, AI demand, and strong iPhone sales. It then analyzes the lasting impact of President Trump's recent trade agreements in Asia, including a truce with China, exploring geopolitical dynamics like China's rare earth leverage. The episode also covers the Federal Reserve's rate cut, the Bank of Japan and European Central Bank's decision to hold rates, and the eurozone economy's unexpected growth. Finally, it delves into India's remarkable IPO boom, described as a "Goldilocks" moment, thriving despite challenging domestic and international market conditions.
Meta and Microsoft had mixed earnings reports, the Federal Reserve cut interest rates and said it would halt quantitative tightening and South Korea has agreed to invest $350bn in the US in return for lower tariffs on car exports. Plus, John Malone is stepping down as chair of his media and telecoms empire, marking the end of an era in which the “cable cowboy” reshaped both industries. Mentioned in this podcast: Meta hit by huge AI spending Federal Reserve trims US interest rates by quarter poin...
OpenAI has finalized its restructuring, balancing its non-profit mission with commercial ambitions, including Microsoft's significant stake and future AI development. Meanwhile, Tesla's chair is pushing shareholders to approve Elon Musk's substantial pay package, warning of his potential departure if rejected. Additionally, South Korea's stock market, the KOSPI, has become the top performer this year, fueled by the global AI theme, semiconductor demand, and government efforts to improve corporate governance.
This FT News Briefing covers significant market movements, including a surge in US M&A deals driven by a favorable regulatory environment and interest rates. Argentina's currency and bonds soared following President Javier Milei's election victory, bolstering his pro-market reforms. JPMorgan Chase initiated a strategic $75 million investment in a critical mineral mining company as part of a national security fund. Lastly, Apple's services division is set to reach a record $100 billion in revenue despite growing legal and regulatory scrutiny over its App Store.
This episode covers President Trump's diplomatic tour in Asia leading up to high-stakes trade talks with China's Xi Jinping, discussing potential tariff de-escalations and broader regional agreements. It also examines the UK Chancellor's efforts to secure new trade deals in the Gulf. Finally, the podcast looks at the US Federal Reserve's upcoming rate decision amidst conflicting inflation data and a weakening labor market compounded by a government shutdown.
This episode uncovers a severe lead poisoning epidemic in the UK, starting with a family's tragic experience in West Wales where animals died and children fell ill due to lead from disused mines. Reporter Laura Hughes' investigation, aided by ecotoxicologist Dr. Andrea Sartorius and Professor Mark Macklin, reveals widespread, often unmapped contamination affecting soil, water, and even the food supply through toxic eggs. Despite the pervasive danger, the UK government is criticized for its lack of widespread regulations, official testing, and public information, leaving citizens vulnerable to an invisible, permanent threat.
US President Donald Trump imposed significant sanctions on Russian oil giants, causing a surge in oil prices and raising questions about global energy markets and secondary sanctions on countries like India and China. Additionally, Trump pardoned Binance co-founder Changpeng Zhao and other crypto executives, signaling a shift in policy towards the crypto industry. The episode also delves into Argentina's crucial midterm elections, which will determine the future of President Javier Milei's austerity measures and could impact a vital US rescue package.
Tesla said its quarterly profit fell by more than a quarter, Sequoia Capital’s chief operating officer resigned over comments made by partner Shaun Maguire that she regarded as Islamophobic, and UK inflation unexpectedly held steady at 3.8 per cent in September. Plus, the Trump administration has been quietly suppressing climate change data. Mentioned in this podcast: Tesla profits drop more than a quarter despite record sales Sequoia COO quit over Shaun Maguire’s comments about Mamdani UK infla...
Netflix shares fell as a dispute with Brazilian tax authorities cut into its profits, Unilever said it has delayed the spin-off of its €15bn ice cream division because of the US government shutdown and gold had its worst day in more than a decade yesterday. Plus, critics are questioning whether South Africa’s Black empowerment policies are really paying off. Mentioned in this podcast: Netflix shares drop as Brazil tax dispute hits profits Unilever’s €15bn ice cream spin-off delayed by US governm...
European governments are working to secure a deal on using Russia's frozen assets to provide a 140 billion euro loan to Ukraine, following a tense US-Ukraine meeting. In Japan, Sanae Takaichi is set to become the country's first female prime minister after her Liberal Democratic Party formed a new coalition, leading to market optimism. The episode also reports on a significant Amazon Web Services outage impacting numerous apps and websites. Finally, Apollo Global Management CEO Marc Rowan discusses how Europe's fragmented financial regulation stifles growth and competitiveness compared to the U.S.
US President Donald Trump urged his Ukrainian counterpart to accept Russia’s war terms during Friday’s volatile White House meeting, and five-year plans still have a place in Chinese politics despite massive changes to its economic system. Plus, global hedge funds are listing in Hong Kong again after an extended slowdown, and the battle for control of rare earth metals is turbocharging stock prices in this sector. Mentioned in this podcast: Trump urged Zelenskyy to accept Putin’s terms or be ‘de...
Shares in US regional banks fell on Thursday after two lenders disclosed that they were exposed to alleged fraud by borrowers, and the UK economy grew 0.1 per cent in August. Plus, Japan is having a hard time keeping up with demand for matcha. Mentioned in this podcast: US regional bank shares sink on credit worries after fraud disclosures UK economy grew 0.1% in August Japan buckles under matcha mania Today’s FT News Briefing was produced by Michela Tindera, Josh Gabert-Doyon, Sonja Hutson, and...
This episode of the FT News Briefing delves into major global economic shifts. Investors are reducing exposure to risky corporate bonds due to market optimism, while the IMF advises the US to tackle its rising deficit and the UK to maintain transparency in economic forecasts. The briefing also examines China's persistent deflationary pressures from low demand and Turkey's anti-corruption drive, which raises questions about its true motives and impact on the business community.
The leaders of Goldman Sachs, JPMorgan Chase and Citi warned that investor exuberance risked driving financial markets into bubble territory, and US investors are hunting for private data as the federal government shutdown is blocking the release of crucial reports. Plus, silver hit a record on Tuesday, and investors are facing a growing concern that European defence start-ups are oversaturating the market. Mentioned in this podcast: Banks caution over bubble as they report bumper profits US gov...
