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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Shell’s merger chief departed after a bid to acquire rival BP was quashed internally, and the EU’s top trade official warns the bloc would lose global credibility if it fails to approve its trade deal with the Mercosur group of South American countries. Plus, Brussels plans to scrap the EU’s 2035 combustion engine ban, and hedge funds and trading firms are piling into physical commodities markets in search of new sources of returns. Mentioned in this podcast: Shell mergers chief departed after C...
A terror attack on a Jewish event in Sydney kills more than a dozen people. Plus, investors are increasingly concerned about how much debt is funding the AI boom, world leaders meet to discuss a peace plan for Ukraine, and it’s a big week for US economic data. And: The FT’s ‘Behind the Money’ podcast looks into whistleblowing in the UK. Mentioned in this podcast: Gunmen who killed 15 in Sydney attack on Jewish festival were father and son Investors seek protection from risk of AI debt bust Ukrai...
This FT News Briefing discusses crypto entrepreneur Do Kwon's 15-year prison sentence for fraud. It also explores Disney's significant $1 billion investment in OpenAI, detailing the guardrails around character usage and the broader implications for the entertainment industry's evolving relationship with AI. Further topics include fan outrage over "extortionate" World Cup ticket prices and Chile's potential election of a hardline right-wing president, José Antonio Kast, amidst concerns about crime and the economy. Finally, it touches on Ukraine's revised peace proposal and the EU's debate on using frozen Russian assets for funding.
This episode discusses the Federal Reserve's recent interest rate cut, which highlighted significant division among FOMC members regarding economic outlook and inflation concerns. It also covers Oracle's disappointing earnings and its substantial increase in AI-related spending, which has raised investor anxieties. Finally, the briefing examines how the International Holding Company (IHC), controlled by Abu Dhabi's royal family, has rapidly grown to dominate the emirate's economy, blurring lines between state and royal assets and impacting outside investment.
Australia has become the first country to restrict social media access for children under 16, citing concerns over mental health and addiction. Meanwhile, the EU plans to fast-track legislation to freeze Russian assets, even without Hungary's support. Investors are also noting a growing divergence in global interest rates, with the US Fed expected to cut while other major economies might see hikes. Additionally, Germany is backing candidates for the European Central Bank's presidency, facing potential challenges due to existing German leadership in the EU.
The FT News Briefing discusses Paramount's $108 billion hostile takeover bid for Warner Bros Discovery, complicating Netflix's previous deal and raising market power concerns. It also explores the reasons behind soaring US natural gas prices, including record exports and cold weather, and their political implications for the Trump administration. Additionally, the episode covers the US decision to allow NVIDIA to sell advanced AI chips to China despite potential congressional opposition, and a warning from the Bank for International Settlements that retail investors are driving both gold and US stocks into "bubble" territory.
Today's FT News Briefing explores Europe's efforts to consolidate support for Ukraine amid US pressure, including a plan for reparations from frozen Russian assets. It then delves into the Federal Reserve's deeply divided final rate decision of the year, influenced by economic uncertainty and political pressures. The episode also examines the Trump administration's accelerated shift of corporate power from investors to boardrooms and analyzes Netflix's audacious $83 billion takeover of Warner Bros. Discovery, discussing its implications for the entertainment industry and regulatory challenges.
The Financial Times News Briefing covers the Big Four's continued stranglehold on UK audits, despite regulatory efforts to foster competition. It also discusses US senators' efforts to block NVIDIA's advanced AI chip sales to China, citing national security concerns. Furthermore, the episode explores how Japan's shifting monetary policy and rising bond yields could impact global liquidity and bond markets, potentially leading to capital repatriation.
Bond-market investors worry that the leading candidate for Fed chair is too close to US President Donald Trump, while HSBC finally picks its new chair. Plus, the EU has a last-minute plan to fund Ukraine’s economic revival. Mentioned in this podcast: Bond investors warned US Treasury over picking Kevin Hassett as Fed chair HSBC appoints Brendan Nelson as chair after chaotic search Brussels floats ‘emergency’ powers to raise €210bn from Russian assets Tell us whether your spending habits have cha...
Nigel Farage has told donors he expects to do an election deal with the Conservatives, and the race to narrow OpenAI’s dominance in the chatbot race. Plus, Eurozone inflation unexpectedly turns higher and China’s biopharma industry could be a threat to western dominance in the sector. Mentioned in this podcast: Farage tells donors he expects to do an election deal with the Tories Mistral unveils new models in race to gain edge in ‘open’ AI OpenAI’s Sam Altman declares ‘code red’ after rivals mak...
Swiss prosecutors have filed criminal charges against Credit Suisse and UBS related to the Mozambique Tuna Bond scandal, raising questions about criminal liability after mergers. Separately, the UK agreed to pay more for NHS medicines, aiming to avoid threatened US tariffs and boost pharmaceutical investment, though the cost and funding remain debated. Also, UK pension funds are reducing US equity exposure due to AI bubble fears, and the OBR chair resigned after a budget leak.
This FT News Briefing discusses how AI is freezing starting salaries in top consultancy firms, potentially reshaping the industry. It also examines a pivotal week for Russia-Ukraine peace talks, highlighting diplomatic challenges and President Zelensky's domestic corruption probe. Further topics include UK regulators' concerns over Revolut CEO Nick Storonsky's unannounced residency change to the UAE, and the surprising resurgence of voice trading in the $30 trillion US Treasury market for complex deals.
In this episode of the Wolf-Krugman Exchange, Martin Wolf and Paul Krugman dissect the US economy and democracy after one year of Donald Trump's second term. They explore the concept of a "vibecession" where consumer sentiment is low despite some economic indicators, delve into the long-term effects of tariffs and their legality challenges, and analyze AI's uncertain impact on the labor market and financial stability. The discussion also touches on the fragile state of American democracy and cautious optimism about its future.
Artificial intelligence has the potential to disrupt almost every industry we work in, from manufacturing to stock trading. Defence is no exception, and at a time of rising global conflict, the question of how different militaries are using AI is increasingly important. The FT’s Helen Warrell is joined by MIT Technology Review senior reporter James O’Donnell to debate the ethical, political and practical questions around AI warfare. Mentioned in this podcast: The State of AI: the new rules of wa...
This episode delves into S&P Global's concerns regarding Tether's stablecoin, citing an increase in high-risk asset backing and limited transparency. It then analyzes the UK's new budget under Rachel Reeves, which sets a record tax burden due to spending commitments and a gloomy productivity outlook, despite market calm. Finally, the briefing examines India's rapidly growing steel sector, highlighting its significant environmental impact, pressure from international regulations like the EU's carbon border tax, and the slow progress of decarbonization efforts.
Google’s parent company got close to a record $4tn market capitalisation, and more than $1tn has been wiped from the cryptocurrency market in the past six weeks. Plus, US consumers aren’t feeling too merry ahead of the holidays, and the UK prepares for its long-awaited Budget day. Mentioned in this podcast: US retail sales growth slows as affordability crunch weighs on households Crypto market sheds $1.2tn as traders shun speculative assets Nvidia shares tumble on signs Google gaining upper hand...
The FT News Briefing discusses concerns about the UK's upcoming budget impacting the pound. It also delves into the pharmaceutical sector, highlighting Bayer's successful stroke drug trial and Novo Nordisk's disappointing Alzheimer's drug results. Additionally, the episode covers the recent surge in US tech stocks fueled by rate cut hopes, and examines how Ireland's military neutrality poses a significant weak spot in Europe's defenses against potential threats to critical undersea cables.
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.
