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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In this episode, FT columnist Gillian Tett revisits her 2025 prediction for the Magnificent Seven tech stocks, discussing their mixed performance and growing divergence. She forecasts a continued varied trajectory for 2026, influenced by factors like rising interest rates, political backlashes, and emerging AI technologies. The conversation also explores what could potentially lead to a synchronized rise for these tech giants again and draws historical lessons from market bubbles, highlighting their long-term benefits alongside short-term pains.
Europe’s banking industry could shed 10 per cent of its workforce by 2030. Plus, the FT’s US national editor and columnist Edward Luce predicted America’s president would not fall out with one-time “first buddy”, billionaire Elon Musk in 2025. He explains why they could form a new kind of alliance in 2026. Mentioned in this podcast: AI forecast to put 200,000 European banking jobs at risk by 2030 Forecasting the World in 2025 Forecasting the world in 2026 Note: The FT does not use generative AI ...
The episode revisits a failed 2025 prediction for a Ukraine peace deal, attributing the breakdown largely to President Trump's inconsistent pressure on Moscow and Russia's unwavering maximalist demands. It delves into the current negotiation sticking points, including Russia's territorial claims in Donbass and the need for robust security guarantees for Ukraine. The discussion also explores the crucial role of US-European cooperation and the fundamental differences in how the Trump administration and European capitals perceive Russia, which complicates the path to a future peace agreement.
President Trump and Ukrainian leader Zelenskyy met at Mar-a-Lago, discussing a 20-point peace plan despite unresolved "thorny sticking points" like territorial issues. Separately, FT columnist Katie Martin reviewed her accurate 2025 bond market forecast, attributing its resilience to a partial U-turn on tariffs. She then projected 2026 volatility for global bond markets, particularly with a new Fed chair, but expects them to avoid collapse.
The Unhedged podcast analyzes 2025's surprisingly robust market performance, highlighting the impact of strong corporate earnings, AI dominance, and a weakening dollar that benefited global markets. Looking to 2026, hosts discuss Wall Street's bullish predictions fueled by anticipated fiscal expansion. However, they also detail significant risks, including the potential for an AI bubble, persistent inflation, central bank policy shifts, and spillover effects from global bond markets and crypto.
Historian Timothy Garton Ash discusses how Europe is navigating a 'triple shock' from Putin, Trump, and Xi, marking a new era after the post-Cold War 'holiday from history.' The episode explores Europe's varied responses to crises, its struggles as a geopolitical actor, and the ongoing tension between unity and national politics. It also considers the rise of populist parties and the implications of Brexit for future European integration.
When international private equity groups first entered Japan at the turn of the 21st century, newspapers criticised them as vulture funds and politicians steered clear of public contact. Today, it’s a different story. Dozens of buyout groups have set up in the country and the establishment is courting them. The FT’s Tokyo correspondent David Keohane and Tokyo bureau chief Leo Lewis explain why there’s been a shift, and how private equity’s presence may rejuvenate Japanese corporates. Clips from ...
This is an episode of Political Fix, the FT weekly podcast that takes you into the corridors of Westminster to unwrap, analyse and debate British politics with a regular panel of FT correspondents. It’s been another turbulent year in UK politics. Prime Minister Keir Starmer has faced down rebellions from within his own party, overseen scandals and sackings, and delivered a constant barrage of bad news from health and housing to small boats and the Budget. He’s fared a little better on the world ...
How much do we really know about ageing? For decades, scientists have been trying to understand the biology of the ageing process - what happens to our bodies as we get older? And is it possible to slow that process down or even stop it all together? In this series of Tech Tonic, the FT’s Hannah Kuchler and Michael Peel look into the past, present and future of longevity - the wellness movement focused on extending and bettering your quality of life. Episode 1 follows Hannah as she speaks with U...
In this final episode of their series for the FT's The Economics Show, FT chief economics commentator Martin Wolf and Nobel laureate Paul Krugman consider listeners’ questions and comments ranging from a critique of globalisation, increasing inequality and plutocracy, the global appetite for US federal debt, China’s economic future and much more. This is a repeat of an episode published on The Economics Show, a sister podcast of FT News Briefing, on December 17, 2025 Subscribe and listen to this...
The holiday season is the most wonderful time of the year, but it's also the most expensive. Between gifts, food and travel, people can end up spending a lot of money this year. The Financial Times’ consumer editor Claer Barrett explains why people are feeling the pinch this season and what they can do about it. Mentioned in this podcast: Economists warn of flaws in US inflation report FT Financial Literacy and Inclusion Campaign Find Claer Barrett on TikTok and Instagram Note: The FT does not u...
BP chief executive Murray Auchincloss has said he will step down after less than two years in the role, India’s central bank governor expects the country’s interest rates to remain low for a ‘long period’, and UK inflation fell more than expected to an eight-month low of 3.2 per cent. Plus, global companies are seeking private equity partners in China to take on their local operations as they grapple with an increasingly competitive local market. Mentioned in this podcast: BP picks Woodside boss...
Investors are snapping up Venezuela’s defaulted debt, JPMorgan Chase has withdrawn almost $350bn in cash from its account at the Federal Reserve since 2023, and the US unemployment rate rose to its highest level in more than four years. Plus, global asset managers’ cash holdings have fallen to a record low in a sign of investors’ bullishness about the AI-fuelled stock market rally. Mentioned in this podcast: Investors pile into Venezuelan debt in regime change bet JPMorgan pulls $350bn from Fede...
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.
