FT News Briefing
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.
Episodes
Germany’s twin crises: football and the economy
The US economy fell short of Wall Street expectations by adding only 57,000 jobs in June, South Koreans are pouring AI stock windfalls into an overheated property market and investors in Blue Owl Capital tried to pull $4.7bn from the firm’s private credit funds in the second quarter. Plus, the FT’s sports editor Josh Noble and Berlin correspondent Laura Pitel explain how Germany’s shock exit from
UBS bets on the US
OpenAI has discussed giving a 5 per cent stake to the US government, UBS will start trialling everyday banking services for its American employees within months, and dealmaking hit record levels in the first half of the year. Plus, many Russians are angry that the Ukraine war is now playing out on their territory.Mentioned in this podcast:OpenAI proposes handing Trump administration 5% stakeUBS to
Why Indonesians are souring on Prabowo
Nato secretary-general Mark Rutte told the FT that Europe’s rearmament drive was sustaining 195,000 US defence jobs through $300bn in arms orders, and Bending Spoons’ initial public offering will test how a page out of the private equity playbooks works in public markets. Plus, KNDS is having a hard time getting investors to back its IPO, and the FT’s Anantha Lakshmi explains why Indonesians
US Supreme Court blocks firing of Fed governor
The US Supreme Court blocked President Donald Trump from firing Federal Reserve governor Lisa Cook, and investors are pivoting from the Magnificent Seven Big Tech stocks. Plus, foreign investors are worried the Japanese government is in danger of backsliding on corporate reforms.Mentioned in this podcast:US Supreme Court blocks Donald Trump from sacking Fed governor Lisa CookMagnificent Seven stoc
AI wakes up the sleepy US power sector
The AI boom is fuelling a record surge in dealmaking in the US power and utility industry, and UK prime minister-in-waiting Andy Burnham will on Monday pledge to deliver “good growth in every postcode” of the UK. Plus, the US-Mexico-Canada trade agreement expires on Wednesday. Mentioned in this podcast:AI fuels record $200bn M&A boom in US power sectorAndy Burnham sets out ‘10-year missio
The Bethlehem Project: Steel’s legacy looms large
Bethlehem Steel was the lifeblood of Pennsylvanian town's economy, and a major contributor to American manufacturing during the 20th century. But when the local plant closed in the 1990s and the company went bankrupt in the early 2000s, Bethlehem’s economy didn’t crater. It pivoted to other industries such as transportation and healthcare. Host Sonja Hutson takes us through the rise and fall
Jamie Dimon succession race narrows
The race to succeed JPMorgan Chase chief executive Jamie Dimon just got tighter, and the investment chief at insurance group Allianz is warning that the SpaceX bond sale signals markets are in ‘bubble territory’. Plus, the US Supreme Court shielded German pharmaceuticals group Bayer from thousands of lawsuits over its Roundup weedkiller.Mentioned in this podcast:Jamie Dimon promotes two potential
European defence stocks face uncertainty
Anthropic accuses Alibaba of obtaining ‘illicit’ access to Claude, and concern is brewing over KNDS’s upcoming initial public offering after Germany scraps warship plans. Plus, Meta is turning to AI content moderators, and the FT’s John Plender breaks down Donald Trump’s contributions to the US national debt. Mentioned in this podcast:Anthropic accuses Alibaba of obtaining ‘illicit’ access to
Venezuela faces world’s largest debt restructuring
Venezuela is set to take on the largest sovereign debt restructuring in history. Plus, chip stocks led a sell-off on Wall Street, and Nvidia’s AI chips have more than doubled in price on China’s black market. Mentioned in this podcast:Venezuela to reveal $240bn debt pile in world’s largest restructuringUS chipmakers lead Wall Street slide on rising rate rise worriesNvidia’s banned AI chips do
What’s next for the UK after Starmer?
Keir Starmer has resigned as British prime minister, private equity executives are borrowing against their future share of profits, and former US Federal Reserve chair Alan Greenspan died at the age of 100. Plus, the FT’s Andean correspondent Joe Daniels traveled to a rural part of Colombia to find out what’s driving the country’s new cocaine boom.Mentioned in this podcast:Political Fix: Exit Star
Starmer on brink of quitting as UK prime minister
UK Prime Minister Keir Starmer could be on his way out of Westminster, and the US and Iran held high-stakes talks in Switzerland to officially end the war. Venture capital funds are rushing into defense tech startups on the back of the world’s wars, and the FT’s Claire Jones explains why Wall Street sees more volatility ahead from changes to Federal Reserve communications.Mentioned in this podcast
A complicated World Cup for Iran’s diaspora
Labour’s Andy Burnham has won the crucial Makerfield by-election in the UK, a resurgence in the dollar is reversing bets on the currencies of big emerging markets and major commodity producers, insurers are trying to define “war” as a type of risk, and the Bank of England held interest rates at 3.75 per cent yesterday. Plus, the FT’s Saffeya Ahmed explains how this World Cup is a complicated one f
Federal Reserve gears up for change
The Federal Reserve has dropped its bias towards lowering rates in the central bank’s first meeting chaired by Kevin Warsh, President Donald Trump said the US would release frozen Iranian funds, and UK inflation held unexpectedly steady last month. Plus, Chinese tech giant Huawei is making a huge comeback after being written off seven years ago. Mentioned in this podcast:Federal Reserve drops
Why Elizabeth Warren is worried about SpaceX
US Senator Elizabeth Warren discusses SpaceX’s initial public offering and what she sees as its potential risk to investors. Plus, traders are betting on AI to underpin the strength of the US dollar, and the FT’s Alice Hancock explains why ship traffic in the Strait of Hormuz may take weeks to reach pre-conflict levels.Mentioned in this podcast:SpaceX leapfrogs Amazon to become world’s fifth-most
Extended version: Why Elizabeth Warren is worried about SpaceX
In our extended interview, US Senator Elizabeth Warren discusses SpaceX’s initial public offering and what she sees as its potential risk to investors.Mentioned in this podcast:SpaceX leapfrogs Amazon to become world’s fifth-most valuable companyhttps://www.banking.senate.gov/newsroom/minority/warren-calls-on-sec-to-delay-spacex-ipoWant to get in touch? Email us at podcasts@ft.comNote: The FT does
Investors celebrate US-Iran deal
Global equities rallied and oil prices fell after an agreement to reopen the Strait of Hormuz, and hedge funds are betting against the debt and equity of some of Europe’s largest carmakers. Plus, a Russian online sabotage network was behind a series of arson attacks on Sir Keir Starmer’s family home and other targets linked to the UK prime minister.Mentioned in this podcast:Stocks surge as US-Iran
US, Iran agree ceasefire deal as Trump heads to G7 summit
The leaders of the US and Iran will sign an agreement on Friday to reopen the Strait of Hormuz, and the annual G7 summit kicks off today. SpaceX’s blockbuster IPO tells us a lot about Wall Street’s appetite for tech listings, and the New York Knicks won the NBA championship for the first time since 1973. Mentioned in this podcast:Trump says Iran and US agree deal to open Strait of Hormuz and
Political Fix: Makerfield or bust: Burnham goes for broke
With a week to go until Makerfield heads to the polls in what may turn out to be the most consequential by-election in British history, host Lucy Fisher, northern England correspondent Jen Williams and deputy political editor Jim Pickard are on the ground hearing from voters in the seat. Polls and bookmakers confidently predict an Andy Burnham victory but they discuss whether that narrative is too
World Cup ticket prices are a red card for fans
SpaceX has raised $75bn in a record-breaking initial public offering, and the European Central Bank became the first central bank in the G7 to increase borrowing costs in response to the Middle East energy shock. Plus, the World Cup could have a lot of empty seats. Mentioned in this podcast:Elon Musk’s SpaceX raises $75bn in world’s biggest IPOECB raises interest rates for first time since 20
Can a correction fix Australia’s housing market?
France and Germany are discussing proposals for a radical overhaul of the EU’s 15-year-old diplomatic service, and the most recent US inflation report is putting pressure on President Donald Trump to extend the ceasefire with Iran. Plus, can Australia fix its housing crisis? Mentioned in this podcast:EU countries weigh ‘tearing apart’ bloc’s diplomatic serviceUS and Iran exchange strikes afte
SpaceX shoots for the moon with $1.78tn IPO
The US has launched new strikes on Iran, Ireland’s burning through its corporate tax bonanza, and the European Central Bank is trying to rein in fintech Revolut’s “self-guided missiles” in the region. Plus, the FT’s George Hammond breaks down whether public market investors believe Elon Musk’s SpaceX can reach its ambitious goals ahead of its initial public offering. Mentioned in this podcast
Israel’s war strategy strains relations with US
OpenAI filed to go public, Wall Street stocks rebounded on Monday, and top BP investors and former executives are concerned the UK oil major may lose momentum in its restructuring plan. Plus, Israel’s strikes on Lebanon are putting the US between a rock and a hard place.Mentioned in this podcast:OpenAI files to go public in blockbuster listingWall Street stocks rebound after AI-led routBP investor
China’s President Xi visits North Korea to talk nuclear programme
Iran and Israel trade fire testing a two-month ceasefire, and Chinese President Xi Jinping arrives in Pyongyang for his first trip to North Korea in seven years. Plus, software buyout deals have collapsed to the lowest levels since the Covid-19 pandemic, and the head of the OECD has warned governments around the world not to go it alone in taxing large multinationals.Mentioned in this podcast:Isra
Can a Mexican cartel stronghold host the World Cup?
SpaceX will go public next week with the largest retail allocation ever attempted in a megacap IPO, and India’s viral Cockroach Janta Party is challenging Prime Minister Narendra Modi. Plus, the FT’s Ciara Nugent explains the safety concerns swirling around World Cup host city Guadalajara as the tournament approaches.Mentioned in this podcast:Elon Musk’s SpaceX lines up retail investors for record
Why foreign investors love Boston
Saudi Arabia’s wealth fund is swapping foreign CEOs for local ones and Reed Hastings officially steps down from the board of Netflix. Plus, FT-Nikkei names Boston as the best US city for foreign investment. Mentioned in this podcast:Saudi wealth fund replaces foreign CEOs with localsNetflix’s Reed Hastings: an icon of good leadership and bad governanceBoston tops FT-Nikkei ranking as global
How Deutsche Bank got its groove back
President Donald Trump has signed an executive order that creates a “voluntary framework” for the US to gain early access to cutting-edge AI models, and the conviction of short seller Andrew Left may change how investors take positions. Plus, gold has overtaken US Treasuries as the world’s top reserve asset, and we’ll look at how Deutsche Bank moved past its reputation as the sick bank of Europe.&
What Berkshire’s life after Buffett looks like
The US is in talks to expand nuclear weapons deployments in Europe, and Anthropic might make its powerful cyber security tool Mythos available outside the US and the UK. Plus, Iran suspended peace talks with Washington, and the FT’s Oliver Barnes explains the significance of Berkshire Hathaway’s first major acquisition since Warren Buffett’s retirement. Mentioned in this podcast:US in talks t
Intel looks to level up in AI race
Intel wants to challenge rivals with a new AI chip, young people are sceptical of artificial intelligence, the inflation shock from the US-Israeli war on Iran is set to fall short of the 2022 price surge, and the EU is worried as China builds an industrial base in Morocco. Plus, Colombians went to the polls yesterday to vote for their next president. Mentioned in this podcast:Intel targets Nv
SpaceX IPO ignites an investor frenzy
Washington is nearing a deal to extend its ceasefire with Iran by 60 days, and investors are rushing to gain exposure to SpaceX in a “speculative frenzy” ahead of its expected IPO. Plus, Benjamin Netanyahu has directed the Israeli military to take control of at least 70 per cent of Gaza, and Robinhood is launching a feature that will enable clients to use AI chatbots for share trading. Mentio
How Ukraine’s drones turned the tables
Oil prices fell sharply after Iranian state television broadcast details of a peace proposal, mass drone production has turned the war effort around for Ukraine, and the European Central Bank warned US President Donald Trump risks triggering a financial crisis. Plus, AI opens the door for smaller, well-funded challengers to take market share from Big Four consultancies. Mentioned in this podc
BP shakes up its leadership … again
Iran accused the US of “flagrant” violations of their ceasefire, BP has ousted its chair Albert Manifold following “serious concerns” over his behaviour, and two top European central bankers laid the groundwork for a likely interest rate rise in June. Plus, dealmaking in the mid-cap part of the UK market has sprung to life. Mentioned in this podcast:Iran accuses US of ‘flagrant’ ceasefire vio
Global birth rates are falling…phones are a big reason why
In more than two-thirds of the world, the average number of children born to each woman has fallen below the “replacement rate”. Employment, home ownership and education are still big factors. But increasingly, so are mobile phones.Mentioned in this podcast:Why birth rates are falling everywhere all at onceCredit: The Columbus DispatchWant to get in touch? Email us at podcasts@ft.comNote: The FT d
From “What Next”: How “Tax the Rich” Went Mainstream
The FT News Briefing presents a special episode from Slate's "What Next" podcast. As wealth disparity continues to grow, politicians in New York and California have suggested raising revenue through taxes aimed at their wealthiest residents. But the proposals have set off an upper-class uproar – and now, it’s a stand-off between the country’s billionaires and its most progressive politicos. G
Blockbuster IPOs to take Wall Street by storm
The blockbuster listings of SpaceX, Anthropic and OpenAI are set to prompt an unprecedented wave of buying and selling, and a court in Ankara has ruled to remove the leadership of Turkey’s biggest opposition party. Plus, we’ll look at why US President Donald Trump is turning up the pressure on Cuba. Mentioned in this podcast:‘Fast entry’ SpaceX, OpenAI and Anthropic IPOs to ignite Wall Street
Trump’s new $1.8bn fund under fire
Nvidia will return more than $80bn to shareholders, and Donald Trump attracted ire this week with the creation of a $1.8bn “anti-weaponisation fund”. Plus, OpenAI is getting ready to go public, and Africa’s Ebola outbreak has health officials worried about pandemic preparedness. Mentioned in this podcast:Nvidia to return more than $80bn to shareholders as it reaps rewards of AI boomChina bann
The EU wants a Putin whisperer
EU governments are discussing whether former leaders could represent the bloc in potential negotiations with Russia’s Vladimir Putin, and rising fuel prices have triggered deadly protests across Africa. Plus, we look back at US Federal Reserve chair Jay Powell’s legacy as head of the central bank.Mentioned in this podcast:EU mulls Angela Merkel or Mario Draghi as possible Vladimir Putin whispererP
Inside a Lebanese village under Israeli occupation
A California court threw out Elon Musk’s case against Sam Altman and OpenAI, the global bond sell-off rages on, and a $420bn power behemoth was born after NextEra Energy struck a deal with its rival Dominion Energy. Plus, the FT’s Raya Jalabi travels to Christian villages in southern Lebanon where residents fear they’re under an indefinite occupation by Israeli forces. Mentioned in this podca
Are we at the tipping point for global energy supplies?
The cost for companies to circumvent shipping through the Strait of Hormuz is reaching record levels, and the world is bracing for an energy cliff edge this summer as the US-Iran war continues. But the war hasn’t deterred investment firms from betting on the Middle East, and we have an update on the UK’s political turmoil.Mentioned in this podcast:Sweeping the strait: the companies gearing up to c
The Bethlehem Project: Democrats battle over their party’s future
Democrats are looking for a bit of a rebrand after losing the White House and both houses of Congress in 2024. They have an opportunity this November to test out some new types of candidates. In a critical swing district in Pennsylvania, the party establishment has coalesced around a progressive, blue-collar candidate named Bob Brooks. The other frontrunner in the race, Ryan Crosswell, represents
What Big Tech wants out of Trump’s China visit
Opponents are lining up to potentially challenge UK Prime Minister Keir Starmer, Chinese President Xi Jinping says his country will ‘open wider’ for American tech, and Saudi Arabia is considering a Middle Eastern non-aggression pact with Iran. Plus, what does one city in Pennsylvania tell us about the intersection of US politics and the economy? Mentioned in this podcast:Starmer braces for le
Germany’s far-right boosted by stance against Iran war
The US Senate confirmed Kevin Warsh as the next chair of the Federal Reserve yesterday, and the Bank of England is set to water down its rules on stablecoins. Plus, the popularity of Germany’s AfD party is growing after its criticism of the Iran war.Mentioned in this podcast:Senate confirms Kevin Warsh to succeed Jay Powell as Fed chairBank of England set to water down stablecoin rules after indus
UK bond vigilantes ride again
UK gilt investors are weighing in on who they would like to see replace Prime Minister Sir Keir Starmer, and the fund raising for Blue Owl is running dry. Plus, the US economy is hurting due to high inflation and eBay says no thanks to GameStop’s takeover bid. Mentioned in this podcast:Who do gilt investors want to lead Britain? UK borrowing costs surge as Starmer leadership crisis rattl
Gulf dealmaking machine hits the brakes
US President Donald Trump says the Iran ceasefire is on “life support”, and UK Prime Minister Keir Starmer is fighting to save his premiership after the Labour party's disastrous showing in last week's UK local elections. Plus, we preview this week’s summit between Trump and China’s President Xi Jinping, and examine how business in the Gulf is holding up through the Iran war. Mentioned in thi
Starmer fights for political survival
A gas shipment made it through the Strait of Hormuz as European oil majors cash in billions from the US-Israeli war on Iran, airlines across Europe are cutting prices for summer flights despite a potential jet fuel shortage, and bond giant Pimco says the war could prompt the Federal Reserve to raise rates. Plus, the FT’s Lucy Fisher explains what to expect from a make-or-break speech by UK prime m
Political Fix Election special: snap analysis
It’s been a dreadful night for Labour as council seats across the country have turned from red to turquoise. The Conservatives have not fared much better with Reform UK the big winner so far. With results still coming in, host Lucy Fisher discusses the fracturing of the vote and the future for beleaguered Prime Minister Sir Keir Starmer with the FT’s deputy political editor Jim Pickard, Northern E
GameStop’s wild bid for eBay
Big Tech groups are expected to generate the smallest amount of cash in more than a decade this year, and investors are dumping Indian assets. Plus, GameStop CEO Ryan Cohen, has set his sights on his next project: a huge leveraged buyout of eBay.Mentioned in this podcast:Big Tech’s $725bn AI spending spree sends cash flows to decade lowInvestors dump Indian assets as energy shock sends rupee slidi
LVMH looks to shrink its luxury empire
US fuel exports have surged to a record level, and hedge funds had their best month since 2020. Plus, Samsung Electronics is locked in a feud with its workers over how to share the spoils of the AI-driven semiconductor boom, and LVMH is considering selling some of its iconic brands. Mentioned in this podcast:US fuel exports hit record in boon for oil companies and threat to TrumpLVMH goes fro
Could the US scrap quarterly reporting?
Global oil reserves plunged at a record pace in April and the SEC said it was proposing to allow public companies to file earnings reports every six months. Plus, the US will start reviewing some AI models over national security concerns and HSBC’s profits took a major hit from “fraud-related” exposure. Mentioned in this podcast:SEC moves to scrap quarterly reporting requirementGlobal oil res
Disney’s new CEO faces first challenge
The US and Iran traded fire in the Strait of Hormuz, and Anthropic formed a more than $1.5bn joint venture with Wall Street groups including Blackstone, Hellman & Friedman and Goldman Sachs. Plus, the FT’s Anna Nicolaou explains whether Disney’s chief executive can handle the latest challenge thrown by the Trump administration.Mentioned in this podcast:US to ‘guide’ stranded ships out of Strai
Global industries squeezed as Iran war enters third month
We tally the impact of war on industries around the globe as the conflict in Iran stretches into its third month. Plus, Britain braces for voters to deliver a potentially seismic change to the political system. And, though many industries are preparing to deal with shortages caused by the Strait of Hormuz closure, the US and Europe have a glut of milk.Mentioned in this podcast:Airlines slash fligh
Introducing The Story of Money: They are history’s geniuses. But were they any good at investing?
Introducing a new video podcast from the FT: Does scientific, artistic or political brilliance translate into investing success? It’s a topical question with hedge funds today accused of sucking talent away from the rest of the economy. So, the FT’s Gillian Tett and Robin Wigglesworth sat down with reporter Toby Nangle, who has dug into the archives to assess the investment portfolios of Isaac New
War, inflation and how central banks are handling it all
Apple delivered another quarter of strong sales growth driven by what the tech giant called its “most popular” iPhone model ever, and we explore how some of the world’s biggest central banks are dealing with the energy shock from the Iran war. Plus, can Tinder win women back to its platform, and why the UK’s local elections next week will be a big test for the Labour government. Mentioned in
Defence stocks drop despite US-Iran war
Meta said it would boost its spending on AI this year, and Jay Powell says he will stay on as a Federal Reserve governor once his term as chair ends. Plus, the special relationship between the UK and US held up under intense pressure, and defence stocks are struggling despite the US and Israel's war in Iran. Oil jumps to almost $120 as Trump signals extended Hormuz stand-offFed chair nominee
Life under Iran’s digital blackout
Federal regulators launched a probe into all Disney-owned TV stations after a late-night comedian made a joke about First Lady Melania Trump, and emerging market stocks have recovered all of their losses from the early stages of the Iran war to hit an all-time high, and the United Arab Emirates is leaving Opec after 60 years. Plus, the FT’s Bita Ghaffari in Tehran details life inside Iran’s blacko
Private equity deals where the seller is also the buyer
The number of countries cutting energy taxes in response to the Iran war has doubled over the past month, and China blocked Meta’s $2bn purchase of the AI group Manus. Plus, big private equity backers have raised concerns that some firms may be waving through controversial deals. Mentioned in this podcast:Energy tax cuts spread across 39 economies as prices jumpChina blocks Meta’s $2bn purcha
Senior Republican clears path for next Fed chair
Alleged Trump shooter is set to be charged in federal court Monday, Republican Senator Thom Tillis said he will allow confirmation of Fed nominee Kevin Warsh to proceed, and the world’s leading central banks are widely expected to hold off on inflation-fighting interest rate rises this week. Plus, Anthropic’s cybersecurity AI model could be so effective it actually backfires. Mentioned in thi
BP’s major setback
Meta will cut 10% of its staff next month, BP suffered a heavy defeat at its annual shareholder meeting, and the Paramount–Warner Brothers Discovery deal is one step closer to being sealed. Plus, the Trump family’s crypto company is in hot water, and a US official is vying to get Italy into the football World Cup. Mentioned in this podcast:Meta to cut 10% of jobs to ‘offset’ Mark Zuckerberg’s
The AI digital divide
Tesla’s profits rebounded from last year’s lows, Brent crude jumped back above $100 a barrel on Wednesday after Iran’s navy said it seized two commercial ships in the Strait of Hormuz, and China’s new trade rules have concerned businesses operating in the country. Plus, the FT’s John Burn-Murdoch unpacks a survey that finds the highest-earning workers are adopting AI in their jobs far faster than
Senators grill Kevin Warsh in Fed chair hearing
US President Donald Trump extended the ceasefire with Iran until talks conclude, and Federal Reserve chair nominee Kevin Warsh sidestepped accusations that he would succumb to pressure from Trump to cut interest rates. Plus, a sneak peek at a new FT podcast on the lessons to learn in the history of finance. Mentioned in this podcast:Can Trump finally make a nuclear deal with Iran?Kevin Warsh
MPs chastise Starmer over Mandelson scandal
Tim Cook will step down as Apple’s chief executive in September, representatives for US President Donald Trump’s ‘Board of Peace’ held discussions with DP World about managing supply chains in Gaza, and UK Prime Minister Keir Starmer fended off calls for him to quit over the Peter Mandelson vetting affair. Plus, wealth advisers at banks and independent brokerages generated billions of dollars in f
Brussels’ plan to ease the energy crisis
US President Donald Trump said he’s sending senior officials to Pakistan for new negotiations with Iran, the European Commission will encourage remote working and public transport subsidies to cut fossil fuel use, and FTSE 100 companies boosted chief executives’ pay by almost a fifth in the past year. Plus, there’s a new craze hitting Wall Street: super-charged tax-loss harvesting. Mentioned
Bonus: A US shale pioneer on the Middle East war
Global oil markets have faced historic disruption since the Iran war began in February. The FT’s Jamie Smyth speaks with shale pioneer Scott Sheffield and his son Bryan about energy security and why the crisis could reshape the future for oil and gas. Correction April 23, 2026: While Mike Sommers, CEO of the American Petroleum Institute, stressed the importance of restoring traffic throu
Fresh challenge for US Treasuries dominance
President Donald Trump said Lebanon and Israel had agreed to a 10-day ceasefire, the US Treasury’s status as the world’s lowest-cost dollar borrower is facing a fresh challenge, and Netflix’s chair and founder is stepping down. Plus, Iran secretly acquired a Chinese spy satellite that has helped it target US military bases across the Middle East during the war, and shares in the world’s biggest ch
How the world is preparing for oil shortages
Gulf monarchies raised almost $10bn in private sales of bonds this month, oil shortages are coming if the Strait of Hormuz stays closed, and US President Donald Trump has renewed his threat to fire Federal Reserve chair Jay Powell. Plus, a second China shock is hitting the global economy, and Allbirds is pivoting from wool sneakers to AI. Mentioned in this podcast:Gulf states turn to private
PwC plans overhaul of consulting business
Ships are altering course as the US Navy’s blockade of the Strait of Hormuz continues into its third day, and PwC plans to overhaul its global consulting business. Plus, insurers are turning to catastrophe bonds to cover data centres, and AI chatbots aren’t a substitute for doctors when it comes to medical diagnoses. Mentioned in this podcast:Strait of Hormuz tankers stop or turn around amid
OpenAI investors question its valuation
A key UK government official says Britain’s leaders have shown a “corrosive complacency” towards defence, OpenAI’s $852bn valuation is under increasing scrutiny from its own backers and fixed-income traders at Goldman Sachs suffered an unexpected drop in revenues at the start of 2026. Plus, the FT’s Raya Jalabi explains how Lebanon has become a sticking point in US-Iran negotiations. Me
Hungary ousts longtime prime minister Viktor Orbán
Hungary’s prime minister Viktor Orbán concedes, US President Donald Trump says America will launch a naval blockade of the Strait of Hormuz after peace talks with Iran failed, and Wall Street banks are set to report trading revenues of more than $40bn for the first quarter. Plus, Meta is building an AI version of its CEO Mark Zuckerberg. Mentioned in this podcast:Hungary’s Orbán concedes defe
US-Iran war boosts used electric vehicle sales
Shipping through the Strait of Hormuz remains at a standstill, sales of used electric vehicles are surging in the US, and the International Monetary Fund is warning that the war’s shocks will be felt by the global economy for a while. Plus, the FT’s Marton Dunai gives a rundown of the upcoming Hungarian elections. Mentioned in this podcast:OECD urges governments to rapidly unwind costly
The oil market navigates a shaky ceasefire
The Middle East ceasefire is strained, the FT’s Jamie Smyth explains how the uncertainty is hitting oil markets and Pakistan has become a mediator between the US and Iran. Plus, the data chief of the NHS has vowed to ignore controversy about Palantir while setting out plans to deeper embed the US company’s technology.Mentioned in this podcast:Middle East ceasefire under pressure over Israeli strik
US and Iran agree to two-week ceasefire talks
US President Donald Trump said he would “suspend the bombing and attack of Iran for a period of two weeks” subject to Iran reopening the Strait of Hormuz, hedge funds made record bets against European stocks, Turkey has sold or loaned out $20bn of gold since the outbreak of the Iran war, and a project for a German warship has turned into a defence procurement disaster. Plus, four astronauts made a
China lends Cuba a helping hand
The US and Iran rejected each other’s peace proposals, EU officials are urging governments to avoid excessive support to offset surging energy prices, and the value of buyouts by private equity groups fell by more than a third in the first quarter of the year. Plus, Cuba is offsetting power blackouts and shortages with the help of soaring imports of solar technology from China.Mentioned in this po
Counting the costs of Trump’s immigration crackdown
In a special edition of the FT News Briefing, reporter Guy Chazan explains the cost of US President Donald Trump’s immigration crackdown. We hear from business owners and people affected by the policies in the Rio Grande Valley of south Texas.Mentioned in this podcast:The economic cost of Trump’s migrant crackdownSources: White House, Fox, ABCNote: The FT does not use generative AI to voice its po
Swamp Notes: The economic fallout of ‘liberation day’
America’s tariff regime affected all aspects of life from the global economy to the day-to-day of average business owners. In this special episode, the FT’s US Economics Editor Claire Jones explains what changed, and what didn’t, because of those tariffs. Mentioned in this podcast:Listen to the rest of our Liberation Day series Listen to Swamp Notes Note: The FT does not use generat
Robert Armstrong on coining the Taco trade
President Donald Trump fired US attorney-general Pam Bondi, and private credit investors are requesting their money back from Blue Owl Capital at an alarming rate. Plus, the FT’s Robert Armstrong continues our series on Trump’s tariffs with analysis of the Taco trade theory a year later. Mentioned in this podcast:Donald Trump fires US attorney-general Pam BondiBlue Owl struck by $5.4bn of red
The shifting geopolitics of Trump’s tariffs
US President Donald Trump updated Americans on the war in Iran, and Chinese government bonds have sidestepped a global debt sell-off since the start of Washington’s conflict with Tehran. Plus, in part four of our tariff anniversary series, the FT’s Gideon Rachman explains how Trump’s tariffs reshaped the geopolitical landscape. Mentioned in this podcast:Donald Trump offers mixed messages on w
How a small US business navigated Trump’s tariffs
Foreign central banks have slashed their holdings of Treasuries at the New York Federal Reserve to the lowest level since 2012, and a preliminary estimate showed that Eurozone inflation jumped to 2.5 per cent in March. Plus, we hear from two small US business owners about how they have navigated a year of President Donald Trump’s tariffs. Mentioned in this podcast:Foreign central banks sell U
The rocky legal future of Trump’s tariffs
Swiss lawmakers have assured senior UBS executives that they will water down stringent new rules and the Trump administration took its first step in opening the more than $10tn US retirement marketplace to private markets. Plus, as part of our series marking one year since so-called Liberation Day, the FT’s Stefania Palma explains the rocky legal future of US tariffs. Mentioned in this podcas
How Trump's tariffs ripped up the global trade order
US President Donald Trump has said he wants to ‘take the oil in Iran’ and could seize the export hub of Kharg Island. Uncertainty about what happens next in the war is sending nervousness through global markets. Plus, this week marks one year since President Trump’s so-called Liberation Day announcement. How has the global trade landscape changed since then?Mentioned in this podcast:Donald Trump s
Untold: Opus Dei, Ep. 1
Untold host Antonia Cundy uncovers the cultural and political influence of a controversial Catholic organisation in America. Opus Dei exists to help people get closer to God, but some members say they found other agendas – and unexpected harm – entangled in that spiritual mission.We meet Sarah – a young girl drawn to Opus Dei’s message that professional work can be a path to holiness. At 18, Sarah
Hong Kong woos asset managers with potential tax cuts
The United Arab Emirates has told allies that it would participate in a multinational maritime task force intended to reopen the Strait of Hormuz, and Hong Kong is weighing tax cuts for asset managers. Plus, London has embraced a controversial form of energy production: burning rubbish. Mentioned in this podcast:UAE pushes for international force to reopen HormuzHong Kong weighs ‘big bang’ ta
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