Elon Musk’s first big foray into politics was a success — he used his world-leading fortune and mass media platform to help Donald Trump regain the White House. But now, just weeks before Trump’s inauguration, some Republicans are pushing back against Musk’s influence. The FT’s Washington correspondent Joe Miller and US business and politics correspondent Alex Rogers join this week’s Swamp Notes to discuss how Musk is navigating a future in Washington. Mentioned in this podcast: Top Democr...
Jan 04, 2025•13 min•Transcript available on Metacast Tesla’s annual vehicle deliveries declined for the first time in more than a decade, and China’s BYD hit a milestone. Crypto chief Do Kwon makes his first US court appearance to face criminal charges. The rerouting of global trade from China to ports elsewhere in Asia is shrinking the size of vessels, and climate change is redrawing Europe’s wine map. Mentioned in this podcast: Ex-crypto chief Do Kwon brought to New York to face fraud charges China’s electric-vehicle leader BYD posts reco...
Jan 03, 2025•12 min•Transcript available on Metacast The UK’s financial watchdog has failed to remove illegal crypto adverts, and in Japan, shareholder activists are waking companies up from decades of slumber. Plus, the number of active US venture capital firms has dropped by more than a quarter since 2021, and the FT’s Martin Wolf interviews European Central Bank president Christine Lagarde on the bloc’s economic recovery from Covid-19. Mentioned in this podcast: FCA fails to hit firms after half of banned crypto adverts remain online Act...
Jan 02, 2025•12 min•Transcript available on Metacast US stocks dropped for the second straight trading session, the Biden administration said it will unleash almost $6bn in additional aid to Ukraine, and South Korea plans to inspect all B737-800 Boeing aircraft operated by domestic airlines after a passenger jet crashed. Plus, US asset managers are gobbling up business from their European rivals and the nightclub business is in decline. Mentioned in this podcast: US stocks slip in broad pullback as investors cash in on 2024 gains US to send ...
Dec 31, 2024•12 min•Transcript available on Metacast Defaults on US credit card loans have hit the highest level since the wake of the 2008 financial crisis, and as payment fraud rises, banks and tech companies disagree on who should cover consumer losses. Syria’s caretaker government has said it could take up to four years for the country to hold elections. Plus, how Hitachi’s plan to monetize industrial data has revived its fortunes. Mentioned in this podcast: US credit card defaults jump to highest level since 2010 Who should foot ...
Dec 30, 2024•12 min•Transcript available on Metacast Are the Democrats doomed? Which world leaders are happiest to see Trump back in the White House? And why are investors flooding into American stocks? The FT’s US managing editor Peter Spiegel and global business columnist Rana Foroohar answer all of your questions after a wild year in US politics. Mentioned in this podcast: Trump team aims to bankrupt Iran with new ‘maximum pressure’ plan How ‘the mother of all bubbles’ will pop Sign up for the FT’s Swamp Notes newsletter here Swamp Notes ...
Dec 21, 2024•14 min•Transcript available on Metacast A number of cryptocurrency-focused hedge funds are outpacing their rivals, the Bank of England holds interest rates at 4.75 per cent, and Microsoft has partnered with a utility company to restart a controversial reactor at Three Mile Island. Mentioned in this podcast: Hedge funds cash in on Trump-fuelled crypto boom Bank of England holds interest rates at 4.75% Behind the Money: How the AI boom is reviving Three Mile Island The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonj...
Dec 20, 2024•11 min•Transcript available on Metacast The Federal Reserve cuts interest rates by a quarter-point but signals a slower pace of easing, and we look back at what central banks learned in 2024. The US Supreme Court says it will hear TikTok’s appeal against a divest-or-ban law, and Honda-Nissan talks aim to rescue Japan’s fragmented automotive industry. Mentioned in this podcast: Fed cuts rates by a quarter-point but signals slower pace of easing Five central banking lessons for 2024 US Supreme Court to hear arguments challenging ...
Dec 19, 2024•10 min•Transcript available on Metacast Argentina emerged from a severe recession in the third quarter, Microsoft buys twice as many of Nvidia’s chips as any of its largest rivals, KPMG narrows the gap with the other Big Four firms, and Huawei sets sights on becoming a big supplier to the electric car industry. Plus, pub chains express frustration over shortages of Guinness in the run-up to Christmas. Mentioned in this podcast: Microsoft acquires twice as many Nvidia AI chips as tech rivals Argentina’s economy exits recession i...
Dec 18, 2024•10 min•Transcript available on Metacast Japan’s SoftBank unveils $100bn US investment plans, fervour around Nvidia cools as investors look to AI’s next winners, and Europe launches its most ambitious space programme in a decade. Plus, in Syria, Kurdish groups fear they may be worse off under a rebel-led government. Mentioned in this podcast: Japan’s SoftBank pledges $100bn investment in US After Nvidia’s boom, what’s next for AI-related stocks? Europe signs €10.6bn Iris² satellite deal in bid to rival Elon Musk’s S...
Dec 17, 2024•11 min•Transcript available on Metacast Germany’s Olaf Scholz is expected to lose a confidence vote in parliament on Monday, and Arm and Qualcomm’s bitter legal feud over chip design licensing is heading to trial. The London Stock Exchange is on course for its worst year for departures since the financial crisis. Plus, investors’ appetite for juicy returns has triggered a big boom on Wall Street in complex financial products. Mentioned in this podcast: Olaf Scholz faces confidence vote — and hopes to lose it Wall Street’s comple...
Dec 16, 2024•11 min•Transcript available on Metacast Europe has been able to predictably lean on the US for decades. But Donald Trump used tariffs and other economic threats to test those assumptions in his first term, and he looks set to do so again. The FT’s EU correspondent Andy Bounds and US climate correspondent Aime Williams join to discuss how the EU is preparing (again) for a more confrontational America. Mentioned in this podcast: EU strikes blockbuster trade deal with Mercosur EU commissioner pitches ‘Europe first’ in response to D...
Dec 14, 2024•16 min•Transcript available on Metacast HSBC is reviewing its retail banking operations outside the UK and Hong Kong, and the European Central Bank cut interest rates by a quarter-point to 3 per cent. The FT’s markets columnist Katie Martin provides a few insights for investing in 2025. Plus, human referees are set to be increasingly phased out as machines become more efficient at making critical decisions in sport. Mentioned in this podcast: HSBC reviews retail banking outside UK and Hong Kong Donald Trump election win sp...
Dec 13, 2024•13 min•Transcript available on Metacast European Nato members are holding talks about increasing the alliance’s target for defence spending, Microsoft’s artificial intelligence head Mustafa Suleyman is building a team focused on consumer health, and US inflation ticked up to 2.7 per cent last month. Plus, new regulations on human rights are forcing global companies to address concerns about modern slavery and tackle problems in their supply chains. Mentioned in this podcast: Nato’s European members discuss 3% target for defence s...
Dec 12, 2024•13 min•Transcript available on Metacast Qatar’s sovereign wealth fund prepares for a petrodollar windfall, while oil majors scale back their $18bn power generation push. Israeli Prime Minister Benjamin Netanyahu begins testifying in a corruption trial, and public pension schemes and sovereign wealth funds plan to pour more money into private markets over the coming year. Mentioned in this podcast: Qatar’s $500bn wealth fund targets bigger deals as LNG windfall looms BP and Shell rein in electricity ambitions to escape ‘va...
Dec 11, 2024•11 min•Transcript available on Metacast Hiring has fallen more sharply in the UK than in other big economies over the past year, Vanguard will break its advisory business into a separate unit, and Israel has taken more Syrian territory. Plus, we take a look inside Japan’s audacious bid to become a semiconductor superpower. Mentioned in this podcast: Hiring falling more sharply in UK than in other major economies Israel draws furious reaction from Egypt after taking more Syrian territory Vanguard to accelerate wealt...
Dec 10, 2024•12 min•Transcript available on Metacast Syrian President Bashar al-Assad has resigned and fled the country and South Korean prosecutors have opened an investigation into the country’s president, Yoon Suk Yeol, on charges of treason and abuse of power. The EU and four South American countries have struck a blockbuster trade deal, and a US appeals court upheld a law requiring TikTok’s owner ByteDance to sell the platform or face a ban next year. Mentioned in this podcast: Assad flees Syria as rebels seize Damascus Syrian re...
Dec 09, 2024•11 min•Transcript available on Metacast The next superpower will be a tech superpower, and to be that superpower you need to have some control over the semiconductor industry which is driving the AI revolution. But almost all advanced semiconductors are made in Taiwan — and it is under constant threat of a Chinese invasion. President Joe Biden’s Chips Act promises lavish subsidies to companies working to bring semiconductor manufacturing back to US soil. Will those subsidies survive once Donald Trump, the president-elect, is in the Wh...
Dec 08, 2024•27 min•Transcript available on Metacast Donald Trump once called cryptocurrencies a “scam”. He’s long since changed his tune, and now, crypto enthusiasts are hoping he’ll catapult the industry into the financial mainstream. The FT’s digital markets correspondent Nikou Asgari and US legal and enforcement correspondent Stefania Palma join this week’s Swamp Notes to discuss what the industry could look like under a second Trump administration. Mentioned in this podcast: Crypto advocate Paul Atkins picked as SEC chair by Donald Trum...
Dec 07, 2024•17 min•Transcript available on Metacast Large companies rushed to assess whether top employees have sufficient protection after the murder of a US insurance executive, investors have pumped almost $140bn into US equity funds since last month’s election, and oil producer group Opec+ significantly scaled back its plans for production in 2025. In Mexico, new president Claudia Sheinbaum is doubling down on a radical agenda in the face of tough US tariffs. Plus, Notre-Dame reopens this weekend. Mentioned in this podcast: Shooting of United...
Dec 06, 2024•12 min•Transcript available on Metacast Donald Trump has nominated cryptocurrency advocate Paul Atkins to chair the US Securities and Exchange Commission, and a dramatic attempt to impose martial law in South Korea by its president has backfired. The French parliament voted to oust Prime Minister Michel Barnier and a UK-led operation has uncovered a multibillion-dollar money laundering scheme. Plus, Google DeepMind has unveiled an artificial intelligence weather prediction model that outperforms traditional methods. Mentioned in...
Dec 05, 2024•12 min•Transcript available on Metacast The French government will face a no-confidence vote on Wednesday, South Korea’s president said he will lift his martial law order, and cryptocurrency ‘memecoins’ are having a moment. Plus, deaths in Africa’s Sahel region have risen since military juntas took over pledging to bring security in face of jihadi violence. Mentioned in this podcast: Michel Barnier ‘method’ at risk in raucous French parliament South Korea’s Yoon says he will lift martial law order Military juntas in Afri...
Dec 04, 2024•13 min•Transcript available on Metacast Chief executives at Intel and Stellantis stepped down, OpenAI is considering including advertising in its artificial intelligence products and the US unveiled new export controls in an effort to curtail China’s semiconductor industry. Plus, how Shanghai’s ambition to be the ‘future of finance’ fell apart. Mentioned in this podcast: Intel chief Pat Gelsinger quits with US chipmaker in crisis Why Stellantis’ chief executive Carlos Tavares was axed OpenAI explores advertising as it steps up revenue...
Dec 03, 2024•11 min•Transcript available on Metacast US government lawyers are clamouring for jobs at corporate law firms ahead of Donald Trump taking office, and Hizbollah declares victory against Israel despite undergoing the most devastating battering in its history. Russian and Syrian warplanes intensify attacks on rebels, and Airbus struggles to capitalise on rival Boeing’s difficulties. Plus, in Ireland, the incumbent Fianna Fáil and Fine Gael appear on track to form a fresh coalition. Mentioned in this podcast: Government lawyer...
Dec 02, 2024•12 min•Transcript available on Metacast Trump is returning to office with many of the same policies that characterised his last term. And for economists, none looms larger than the prospect of significant new tariffs. But are tariffs really as destructive as feared? After all, the Biden administration maintained most of them and the economy has remained strong. Today on the show, we put the question to Kimberly Clausing, a professor at UCLA, and formerly lead economist in the Biden administration's Office for Tax Policy. Soumaya Keyne...
Dec 01, 2024•33 min•Transcript available on Metacast French bond markets take a tumble, Russia threatens a hypersonic missile attack on Kyiv, and Ireland goes to the polls. Plus, Hong Kong’s crypto play. Mentioned in this podcast: Crime boss takes on Sinn Féin leader and Brussels veteran in Dublin election Hong Kong plans crypto tax break for hedge funds and billionaire families Vladimir Putin threatens to turn Kyiv targets ‘to dust’ French bond yields surpass Greece’s for first time as budget worries swirl The FT News Briefing is produced by Misc...
Nov 29, 2024•11 min•Transcript available on Metacast Vivendi prepares to spin off Canal+ for a London listing. Christine Lagarde says trade wars threaten global GDP. Sir Alex Younger, former head of UK’s MI6, discusses Tulsi Gabbard, Donald Trump’s proposed director of national intelligence. Plus, Adani Group’s infrastructure projects in Kenya hit a roadblock. Mentioned in this podcast: London’s snaring of France’s Canal+ to revive moribund listing market ‘Adios Adani!’ Bribery charges threaten group’s Africa ambitions The FT News Briefing ...
Nov 28, 2024•11 min•Transcript available on Metacast Israeli and Lebanese leaders agree to a ceasefire, and Mexico hits back at US president-elect Donald Trump’s tariff plans. Plus, President Joe Biden is rushing to cement his legacy during his final weeks in office, and Russia’s rouble has plummeted to its lowest rate against the dollar since the first weeks of its full-scale invasion of Ukraine. Mentioned in this podcast: Ceasefire deal reached in Israel-Lebanon war Mexico hits back as Trump’s tariff threat shakes markets Bid...
Nov 27, 2024•10 min•Transcript available on Metacast The US Department of Justice is seeking to drop two federal criminal cases against Donald Trump, and Robert F Kennedy Jr’s nomination for top health role is concerning the pharmaceutical industry. Plus, Italy’s UniCredit has launched a €10bn takeover bid for domestic rival Banco BPM, Brussels is planning to force Chinese companies to transfer intellectual property in return for EU subsidies and TikTok is creating an unlikely frontrunner in Romania’s presidential race. Mentioned in this pod...
Nov 26, 2024•11 min•Transcript available on Metacast Huawei is poised to launch its first flagship phone that can run its own apps, and Donald Trump’s nominee to run the Treasury is seen across Wall Street and Washington as a pragmatic pick. COP29 has produced a new global finance deal against considerable odds, and the FT’s Michael Stott warns that the US is being eclipsed by China in Latin America. Mentioned in this podcast: Huawei to launch flagship smartphone with breakthrough software ‘Sigh of relief’: Wall Street welcomes Donald...
Nov 25, 2024•12 min•Transcript available on Metacast 
