This week, the value of the American dollar continued to decline. The plunge has been attributed to market volatility over President Donald Trump’s on-again, off-again tariffs. But there are some on Trump’s economic team who have floated wanting to weaken the dollar intentionally. FT economics columnist Gillian Tett and Unhedged host Katie Martin join to discuss why the chaos that’s keeping investors worried may be a feature, not a bug. Mentioned in this podcast: Unhedged Podcast What a Mar-a-La...
Mar 15, 2025•18 min•Transcript available on Metacast Russian President Vladimir Putin has indicated Moscow is unwilling to drop its maximalist demands over any deal to halt the fighting in Ukraine, and Intel’s new chief executive has made investors excited. Plus, India’s Prime Minister Narendra Modi is in a tough spot over how he handles tariffs from the US. Mentioned in this podcast: Putin voices doubts over US proposal for Ukraine ceasefire Intel shares soar after troubled chipmaker appoints Lip-Bu Tan as CEO ‘Whatever you charge, I’...
Mar 14, 2025•11 min•Transcript available on Metacast Elon Musk’s efficiency drive failed to prevent US federal spending rising to a record $603bn in February, European battery maker Northvolt has filed for bankruptcy in Sweden, and US inflation fell to 2.8% last month. Plus, China’s plan to revive Africa’s ‘freedom railway’ showcases Beijing’s leaner approach to overseas aid. Mentioned in this podcast: Elon Musk’s cuts fail to stop US federal spending hitting new record Northvolt files for bankruptcy in Sweden US inflation fell more than ex...
Mar 13, 2025•12 min•Transcript available on Metacast The S&P 500 dipped into correction territory on Tuesday and Nissan has pushed out chief executive Makoto Uchida in the wake of the collapse of merger talks with Honda. Plus, banks are trying to catch up to one of the hottest trends in consumer finance: interest-free buy now, pay later loans. Mentioned in this podcast: Ukraine says it is willing to accept 30-day US-brokered ceasefire Wall Street sell-off pulls S&P 500 into correction territory Nissan pushes out chief Makoto Uchida a...
Mar 12, 2025•11 min•Transcript available on Metacast Wall Street stocks fell on Monday, and Pimco has recorded a 17% paper profit on its portion of a £3bn emergency loan that it and others are set to provide to ailing utility Thames Water. Plus, hundreds of people have been killed in Syria after clashes between pro-government and pro-Assad forces escalated into sectarian violence. Mentioned in this podcast: Wall Street stocks tumble as investors fret over US economic slowdown Is this dotcom bust 2.0? US condemns Syria violence after hundreds...
Mar 11, 2025•11 min•Transcript available on Metacast Canada’s Liberal party selects a new leader, and US President Donald Trump’s nominee to lead the Justice Department’s antitrust division is turning heads on Wall Street. Plus, US startups are raising more money than at any point since 2021, and why a gold boom in Ghana is driving up global chocolate prices. Mentioned in this podcast: Mark Carney to replace Justin Trudeau as Canada’s prime minister Trump nominee unites right and left with tough antitrust view The illegal gold miners driving...
Mar 10, 2025•12 min•Transcript available on Metacast European leaders met twice this week to discuss a plan to protect Ukraine — without US leadership. The rift between Brussels and Washington has grown as US president Donald Trump paused military aid to Ukraine and stopped intelligence sharing. As Germany and the EU discuss a new set of defence stimulus plans, special guest Gideon Rachman, the FT’s chief foreign policy commentator, is on to discuss possible outcomes. Mentioned in this podcast: Rachman Review podcast Trump is sowing the seed...
Mar 08, 2025•12 min•Transcript available on Metacast Donald Trump’s crypto project made at least $350mn from the launch of his memecoin, and FT markets columnist Katie Martin unpacks the week in markets. The European Central Bank cut interest rates to 2.5 per cent yesterday, plus EU leaders held an emergency summit to talk about defence spending and support for Ukraine. Mentioned in this podcast: Donald Trump’s crypto project netted $350mn from presidential memecoin ECB cuts interest rate to 2.5% US stocks struggle as ‘America F...
Mar 07, 2025•11 min•Transcript available on Metacast US President Donald Trump has handed carmakers a one-month reprieve on tariffs on imports from Mexico and Canada, and we look at how a few billionaire elites struck a multibillion-dollar port deal within weeks. German borrowing costs surged by the most in 28 years on Wednesday, and the Liberal party in Canada will hold a leadership vote this weekend to replace Prime Minister Justin Trudeau. Mentioned in this podcast: Donald Trump hands carmakers one-month reprieve from tariffs German borro...
Mar 06, 2025•10 min•Transcript available on Metacast Volodymyr Zelenskyy said Ukraine was “ready to come to the negotiating table as soon as possible”, Taiwan is trying to get on US President Donald Trump’s good side, and private equity assets under management fell last year for the first time in decades. Plus, businesses are snapping up the wind and solar farms that governments are no longer backing. Mentioned in this podcast: Big businesses step up to buy energy from new wind and solar farms ‘Chips on the table’: Taiwan pushes for closer US ties...
Mar 05, 2025•11 min•Transcript available on Metacast The US is suspending military aid to Ukraine, Chevrolet Silverado’s complex supply chain leaves it particularly vulnerable to a looming trade war, and Eurozone inflation has fallen for the first time in four months to 2.4 per cent. Plus, US defence stocks are being left behind. Mentioned in this podcast: US suspends military aid to Ukraine How Donald Trump’s tariffs threaten an iconic US pick-up truck Eurozone inflation falls to 2.4% as underlying price pressures ease European defence shar...
Mar 04, 2025•11 min•Transcript available on Metacast Cryptocurrencies surged on Sunday after a surprise announcement from US President Donald Trump, and European leaders gathered in London to shore up support for Kyiv. Plus, Deutsche Bank clashed with the European Central Bank throughout 2024 over concerns about its risk management, and high interest rates and uncertainty over immigration policy are discouraging US homeowners from renovating properties. Correction: We incorrectly said in this episode that by the end of 2024, Deutsche had earmarked...
Mar 03, 2025•10 min•Transcript available on Metacast This week, the White House said it would pick which reporters would get access to Donald Trump. Meanwhile, the US president has sued several press outlets for what he considers unfair coverage. Can the media do its job in this political landscape? The FT’s Washington bureau chief James Politi and Los Angeles bureau chief Chris Grimes examine the media climate. Mentioned in this podcast: White House to choose which reporters get close access to Donald Trump Donald Trump vs the media: US pre...
Mar 01, 2025•13 min•Transcript available on Metacast US President Donald Trump has said his administration is working on a trade deal with the UK , Santander’s incoming chief accounting officer is under criminal investigation in Brazil, and the pound is rebounding. Plus, DeepSeek’s advances have sparked a nationwide push in China to deploy its large language models everywhere from hospitals to local governments. Audio credit: The Independent Mentioned in this podcast: Trump says US is working on trade deal with the UK Sterling outshine...
Feb 28, 2025•12 min•Transcript available on Metacast Nvidia’s revenues soared in the quarter to the end of January as demand for its AI-focused chips boomed, healthcare costs are dragging down the Chinese economy, and BP is turning its main focus back to fossil fuels. Plus, America’s investors are putting money in English football’s lower leagues. Mentioned in this podcast: Nvidia revenues jump almost 80% on booming AI chip sales Why ‘catastrophic’ medical bills are hurting China’s economy BP pivots back to oil and gas after ‘misplaced’ fait...
Feb 27, 2025•11 min•Transcript available on Metacast Kyiv has agreed terms with Washington on a minerals deal, and finance ministers from many of the world’s largest economies are poised to skip Group of 20 meetings in South Africa this week. Plus, Unilever is replacing its chief executive and the FT’s Hannah Murphy explains why Silicon Valley is veering to the conservative right. Mentioned in this podcast: Unilever ousts chief Hein Schumacher after less than two years Tech titans stand with Donald Trump to kill off activism in Silicon Valle...
Feb 26, 2025•11 min•Transcript available on Metacast The US and Europe battled in the UN and G7 over whether to blame Russia for its war against Ukraine, German election winner Friedrich Merz faces serious hurdles to boosting defence spending, and Apple said it planned to hire an additional 20,000 staff in the US over the next four years. Plus, US commodities trader Archer Daniels Midland has pledged to stick with its climate commitments, despite looser regulations under President Donald Trump. Mentioned in this podcast: Europe and US clash o...
Feb 25, 2025•10 min•Transcript available on Metacast The center-right Christian Democrats won the most votes in Germany’s election, and the US stock market had its worst day in two months on Friday. Britain and India will relaunch talks on a long-awaited trade deal, plus, China’s holdings of US Treasuries have fallen to their lowest level since 2009. Mentioned in this podcast: Friedrich Merz set to become Germany’s next chancellor, exit polls say US stocks post worst slide in two months on gloomy economic data China’s holdings of US Tr...
Feb 24, 2025•11 min•Transcript available on Metacast US President Donald Trump’s executive order this week seeks to “rein in” independent federal agencies by requiring them to submit draft regulations for review. The FT’s US managing editor Brooke Masters and our legal and enforcement correspondent Stefania Palma discuss what the new measures mean for the business community. Mentioned in this podcast: Trump makes push for control of independent US regulators US dealmaking suffers worst start to a year in a decade amid Trump volatility Sign up for ...
Feb 22, 2025•13 min•Transcript available on Metacast Investors are urging the EU to make sweeping reforms to its debt securitisation market, Walmart has staged a major comeback, and Chinese ecommerce giant Alibaba reported its fastest revenue growth in more than a year. Plus, the FT’s John Paul Rathbone explains how Europe could defend itself should Donald Trump pull US military assets. Mentioned in this podcast: Investors call for shake-up of Europe’s ‘failed’ securitisation market How Europe can defend itself without US help How a resurgent Walm...
Feb 21, 2025•11 min•Transcript available on Metacast KKR has submitted a preliminary bid to take a majority stake in Thames Water, and HSBC set out its cost cuts in its annual earnings report yesterday. UK inflation hit a 10-month high. Plus, Germany has lost half a million manufacturing jobs since 2020. Mentioned in this podcast: German manufacturing job losses deepen fears over industrial decline UK inflation rises to 10-month high of 3% in January HSBC sets out scale of cost cuts under chief executive’s restructuring plan KKR submits £4bn...
Feb 20, 2025•10 min•Transcript available on Metacast The US and Russia have agreed to ‘lay the groundwork for future co-operation’ on ending the Ukraine war, and US president Donald Trump has his eyes on Ukrainian mineral deposits. Plus, developers of small modular nuclear reactors have raised at least $1.5bn in funding over the past year thanks to AI data centers. Mentioned in this podcast: US and Russia agree to ‘lay the groundwork’ for ending Ukraine war The Ukrainian mineral riches in Donald Trump’s sights Big Tech’s AI ambitions deliver fundi...
Feb 19, 2025•11 min•Transcript available on Metacast Tesla risks being caught up in the China-US trade war, while US officials head to Saudi Arabia to start peace talks over Ukraine. Indonesia reaches “Opec status” as it dominates the global nickel trade. Plus, the US-India deal signals a bonanza for US gas imports. Mentioned in this podcast: Tesla braces for delay to China licence as Trump trade tensions mount The ‘Opec’ of nickel: Indonesia’s control of a critical metal European countries clash over sending troops to Ukraine S...
Feb 18, 2025•11 min•Transcript available on Metacast French President Macron holds an emergency meeting in Paris with Ukraine’s allies, and a stock index featuring Europe’s largest banks is outpacing the United States’ Magnificent Seven tech giants. Plus, the activist hedge fund Elliot Management is on a mission to rejuvenate British Petroleum. Mentioned in this podcast: Europe scrambles to respond as US and Russia prepare for Ukraine peace talks Hedge fund Elliott shakes BP from its strategic slump Magnificent 7? Try the Magnificent 47 for ...
Feb 17, 2025•10 min•Transcript available on Metacast Ukraine is dominating discussions at this year’s Munich Security Conference after a call between Donald Trump and Russia’s Vladimir Putin, which ended with the US president declaring that peace talks will start “immediately”. The FT’s Moscow bureau chief Max Seddon is on to discuss, alongside Keir Giles, author of the recent book Who Will Defend Europe? Mentioned in this podcast: Donald Trump opens the door to Vladimir Putin’s grandest ambitions EU to ease fiscal rules to boost defense spending ...
Feb 15, 2025•14 min•Transcript available on Metacast Arm plans to launch its own chip this year, and Shein’s IPO will likely be delayed after US President Donald Trump’s crackdown on tariff-free imports. Plus, Robinhood has evolved from an app that sprayed digital confetti when customers made their first trade to one that aims to serve as a broader financial services platform. Mentioned in this podcast: Arm secures Meta as first customer for ambitious new chip project Shein IPO plans hit by Trump’s low-cost parcels crackdown Has meme-stock kid Rob...
Feb 14, 2025•10 min•Transcript available on Metacast European officials are worried about being cut out of a US-Russia peace deal on Ukraine, and US inflation ticked up in January. Plus, China’s leading producer of memory chips is rapidly gaining global market share at the expense of South Korean competitors. Mentioned in this podcast: Europe blindsided by Trump on Ukraine peace talks with Russia US inflation unexpectedly increases to 3% in January Chinese chip champion’s ‘snowballing’ growth threatens Korean dominance The FT News Briefing i...
Feb 13, 2025•10 min•Transcript available on Metacast Hong Kong tech stocks are flying high, Elon Musk’s nearly $100bn bid for OpenAI comes with a ton of baggage, and the EU says it will retaliate against US tariffs on European steel and aluminium exports. Plus, Sudan’s army is close to its biggest victory in a brutal two-year civil war. Mentioned in this podcast: China’s tech stocks enter bull market after DeepSeek World’s largest EV battery maker files for Hong Kong listing Elon Musk gatecrashes OpenAI restructuring Elon Musk-led consortium...
Feb 12, 2025•10 min•Transcript available on Metacast More than 60 partners have left PwC China after a ban over its audit of failed property developer Evergrande, the FT’s Andy Bounds explains what we can learn from Donald Trump’s 2018 steel tariffs, and Hamas said it is postponing the next release of hostages. Plus, Hizbollah is weaker than it’s ever been, and it needs the support of its constituency to rebuild. Mentioned in this podcast: PwC China loses 66 partners in wake of ban over Evergrande audit What happened when Donald Trump imposed stee...
Feb 11, 2025•11 min•Transcript available on Metacast China has imposed retaliatory tariffs on about $14bn of US goods, and US dealmaking has suffered its worst start to a year in a decade. French President Emmanuel Macron has announced €109bn worth of investments in artificial intelligence in France over the coming years, while software company MicroStrategy is inspiring other companies to buy bitcoin and hold it in their corporate treasuries Mentioned in this podcast: China imposes retaliatory tariffs on $14bn worth of US goods US deal...
Feb 10, 2025•11 min•Transcript available on Metacast 
