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. Hosted on Acast. See acast.com/privacy for more information.
Andy Burnham ghosts the UK business community
Netflix’s shares fell more than 8 per cent on Thursday despite as-expected earnings after the streaming giant forecast its worst revenue growth in three years, and incoming UK prime minister Andy Burnham is leaving phone calls from the country’s business community unanswered. Plus, teams from western Europe keep winning the World Cup, and that’s because they’ve invested heavily in the sport from the ground up.
Mentioned in this podcast:
Netflix shares slide on disappointing growth forecasts
Business worries about how to reach Andy Burnham
Investors say BoE shoul...
Is China’s economic slowdown here to stay?
Energy companies going public are raising money at their fastest pace this century and China’s growth rate is at its lowest in decades, according to the country’s latest GDP numbers. Plus, oil traders are worried that crude supplies are running low, and the US state department is struggling under President Donald Trump, with one-fifth of the diplomatic corps gone and few ambassador posts filled.
Mentioned in this podcast:
Energy IPOs surge as investors hunt for ways to play AI boom
China’s economy grows at one of lowest rates in decade...
The EU’s push to deregulate banks
British teenagers face a midnight curfew on social media platforms, US inflation dipped in June and Wall Street’s top banks brought in $19.3bn in revenue from equities trading. Plus European regulators are considering loosening bank regulations.
Mentioned in this podcast:
UK teenagers face midnight curfew on using social media platforms
Kevin Warsh vows Federal Reserve will be ‘resolute’ in inflation fight
US inflation fell more than expected to 3.5% in June as petrol prices tumbled
Wall Street banks smash records on stock trading boom
Brussels to propose...
Dubai wants to bypass Strait of Hormuz
The United Arab Emirates is trying to build a port that will bypass the Strait of Hormuz, and American small-cap companies are soaring after years of underperformance. Plus, the FT’s Michael Pooler explains how Brazil’s instant payment system ended up at the centre of a new US tariff threat.
Mentioned in this podcast:
US to resume Strait of Hormuz blockade and charge fees on ships, Trump says
Dubai plans new port to bypass Strait of Hormuz
Brazil rallies to defend much-loved payment system from Donald Trump’s attack
U...
Citigroup’s ruthless remake
Wall Street banks are set to report their biggest haul from investment banking fees in four and a half years, while Citigroup boss Jane Fraser has ruthlessly rebuilt the bank to get it back to its pre-financial crisis glory. The US launched another round of strikes against Iran, and trustees at the World Economic Forum are clashing over leadership reforms.
Mentioned in this podcast:
Wall Street feasts on fees from SpaceX IPO and mega-mergers
Jane Fraser’s ruthless remake of Citigroup
Iran bets Trump will blink first
US an...
Rewiring sport: How technology is helping athletes break barriers
Introducing Rewiring Sport from Tech Tonic. For the next episodes in this season go to the Tech Tonic feed.
For decades, sportspeople have been getting fitter, faster and reaching ever-higher levels of performance. But as the margin between winning and losing shrinks, athletes are turning to technology to make the difference.
In this new season of Tech Tonic, Josh Noble explores how advanced ‘supershoes’ are helping to break marathon records, how young players are using AI to catch the eye of recruiters in the ultra-competitive world of American football, and how UFC is find...
World Cup stirs up colonial past
OpenAI and Google are selling their advanced AI models to Chinese tech giants blacklisted by the Pentagon, and South Korea's SK Hynix is listing in the US on Friday in what could be the biggest share sale in America by a foreign company. Plus, the World Cup has led to match-ups with a lot of history: former colonised nations versus their colonisers.
Mentioned in this podcast:
OpenAI and Google sell AI models to blacklisted China groups
SK Hynix’s jumbo share sale a sign of overheated times
France’s diverse footb...
The cost of a broken ceasefire
The US struck Iran for the second night in a row, and the IMF warned that renewed conflict in the Middle East would drive up global inflation. Plus, US oil producers and refiners are set to post record profits from the Iran war.
Mentioned in this podcast:
Nato summit live news: Trump says ceasefire with Iran is over
IMF warns inflation threat looms large over global economy
US oil on collision course with Trump over Iran windfalls
Want to get in touch? Email us at podcasts@ft.c...
Marine Le Pen’s risky comeback
US President Donald Trump threatened to remove all American troops from Europe and is reviving his calls to take over Greenland, French far-right leader Marine Le Pen said she will run for president, and Reform UK leader Nigel Farage resigned as an MP to force a by-election in which he’ll stand again. Plus, Meta is testing “super sensing” AI glasses that can record everything that you see and hear.
Mentioned in this podcast:
Trump threatens to remove all US troops from Europe
Marine Le Pen speaks after court ruling
Nigel F...
The Big Four’s problems Down Under
Greek shipping companies have made at least $3.8bn transporting Russian oil over the past three years, Turkey wants its booming defence sector to arm Europe, and large institutional investors are committing billions of dollars to private credit funds. Plus, the Big 4 consulting firms are struggling with their credibility in Australia after a series of scandals.
Mentioned in this podcast:
Greek shipping companies made almost $4bn shipping Russian oil in past three years
Erdoğan rival shuttled between trials as Nato meets in Turkey
Turkey’s defence industry is booming. Europe is...
London’s push for AI sovereignty
The tech industry is having a renaissance in London. It's home to the main foreign outposts for giants such as Google and Meta, as well as their well-funded AI challengers including OpenAI and Anthropic. But all those companies are American. Now there's a push to launch a homegrown competitor so the UK can have more sovereignty over its tech.
Mentioned in this podcast:
How the DeepMind mafia brought the AI boom to London
Tell us your thoughts to enter a prize draw for a chance to win a pair of Bose...
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 the World Cup pairs with wider discontent over the country’s economic woes.
Mentioned in this podcast:
US economy undershoots forecasts with 57,000 jobs added in June
Sou...
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% stake
UBS to trial US banking services in push for wealthy American clients
Mega takeovers drive record $2.8tn in dealmaking
Putin admits Ukrainian drones are causing ‘pr...
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 are growing impatient with President Prabowo Subianto.
Mentioned in this podcast:
Europe’s rearmament drive is sustaining 195,000 US defence jobs, Nato chief says
Bending Spoons tries out an odd kin...
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 Cook
Magnificent Seven stocks shed $2.7tn in Wall Street tech rotation
Foreign investors fear Japan is backsliding on reform
Tell us your thoughts to enter a prize draw for a...
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 sector
Andy Burnham sets out ‘10-year mission’ to raise living standards
Donald Trump suggests he may not renew trade deal with Mexico and Canada
Tell us your thoughts to enter...
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 of Bethlehem Steel and introduces us to steelworker-turned-nurse, Bill Leiner. He’s a living example of how an economy can adapt and rebuild after a major disruption.
Listen to all epis...
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 successors at JPMorgan
SpaceX bond sale signals markets are in ‘bubble territory’, warns Allianz CIO
Bayer wins crucial US Supreme Court ruling over Roundup weedkiller
Tell us your...
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 Claude
Meta races to replace human moderation with AI
Berlin warship U-turn hits defence sector as KNDS heads to market
Trump’s empire of debt
Tell us you...
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 restructuring
US chipmakers lead Wall Street slide on rising rate rise worries
Nvidia’s banned AI chips double in price on China’s black market
Tell us your thoughts to enter a prize draw for a chanc...
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 Starmer, enter Burnham
Buyout bosses turn to carried interest loans as payouts stall
What lies behind the new boom in Colombian cocaine
Alan...
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:
Keir Starmer on brink of quitting as UK prime minister
What Andy Burnham’s Westminster past reveals about him
US and Iran h...
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 for Iran’s diaspora as its national team competes on American soil.
Mentioned in this podcast:
Makerfield by-election result: Andy Burnham wins crucial poll
‘Hawkis...
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 bias for rate cuts as Kevin Warsh era begins
Donald Trump to release Iran’s frozen funds and ease sanctions when ‘they behave’
Huawei’s big comeback te...
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 valuable company
Shipping groups hit by Middle East conflict-induced fuel shortages
Investors pile into bullish dollar bets as ‘US exceptionalism’ trade returns
Oil f...
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 company
https://www.banking.senate.gov/newsroom/minority/warren-calls-on-sec-to-delay-spacex-ipo
Want to get in touch? Email us at podcasts@ft.com
Note: The FT does not use generative AI to voice its podcasts
The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, Katya Kumko...
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 deal ignites global rally
Hedge funds bet against European carmakers on Chinese competition fears
Arson targeting Keir Starmer properties originated in R...
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 extend ceasefire
Emmanuel Macron and Donald Trump test their bruised bromance at G7 summit
Wall Street diges...
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 neat and what issues are really shaping voters’ choices. The result could determine not just who represents Makerfield, but also the future of the country if Burnham wins and successfully challenges Sir Keir St...
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 IPO
ECB raises interest rates for first time since 2023
Fifa faces empty seats as 180,000 World Cup tickets hit resale market
Credit: New York City Mayor’s Office, European Central...
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 service
US and Iran exchange strikes after downing of American helicopter
Donald Trump suggests he may not renew trade deal with Mexico and Canada
Australia tries to fix its housing crisis. Will it work?<...
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:
Ireland told to rein in spending of corporate tax windfall
ECB moved to rein in Revolut’s ‘self-guided missiles’ in Europe
SpaceX’s $1.78tn IPO asks investors to...
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 listing
Wall Street stocks rebound after AI-led rout
BP investors push for clarity over ousting of chair
Israel attacks Beirut days after Trump’s showdown with Netanyahu
Dona...
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:
Israel launches retaliatory air strikes on Iran
Trump says Netanyahu will have ‘no choice’ but to accept a deal with Iran
Software buyout deals coll...
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 IPO allocation
India’s viral ‘cockroach party’ challenges Narendra Modi
India’s ‘cockroach’ party founder plans protests over exam furore
The Mexican cartel stronghold prepari...
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 locals
Netflix’s Reed Hastings: an icon of good leadership and bad governance
Boston tops FT-Nikkei ranking as global companies seek skilled workers
Americans lead AI data centre backlash, global poll finds
Want to get in touch? Email us at podcas...
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.
Mentioned in this podcast:
Donald Trump signs watered-down AI vetting order after Maga infighting
Short seller Andrew Left found guilty of securities fraud
Gold...
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 to expand nuclear weapons deployments in Europe
Anthropic offers EU access to Mythos
EU pushes for ‘tech sovereignty’ to cut reliance on US
Iran suspends pe...
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 Nvidia with new AI chip by year end
‘More harmful than helpful’: young people sour on AI
Iran war inflation shock set to fall...
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.
Mentioned in this podcast:
Washington nearing deal to extend Iran ceasefire, US officials say
Investors race to get exposure to SpaceX ahead of IPO
Benja...
