FT News Briefing

Democrats and Republicans are confident they can pass a deal to avert a US debt default, the lira slides after Turkish president Recep Tayyip Erdoğan is re-elected, and ageing populations are causing government credit ratings to take a hit.  Mentioned in this podcast: Debt ceiling fight shifts to Congress as lawmakers prepare for first votes Turkey’s lira weakens as economists warn of economi...

In the first of this four-part series, the renowned FT columnist and economist Martin Wolf tells the FT’s executive opinion editor Jonathan Derbyshire why he fears the marriage of liberal economics and democracy may be facing its toughest test in decades. Drawing on arguments in his latest book, The Crisis of Democratic Capitalism, Martin explains how his own life story and career have shaped his...

More large US companies are taking shelter in bankruptcy court, Nvidia is on course to become the first chipmaker to be valued at more than $1tn, and Turkish voters go back to the polls to pick their next president.  Mentioned in this podcast: US credit squeeze triggers rise in corporate bankruptcies Nvidia races towards $1tn club as AI frenzy drives chip stocks higher The latest on Turkish e...

UK gilt yields hit levels not seen since last year’s “mini” Budget crisis, and Australia’s government has referred a PwC tax leak scandal to the country’s federal police. Plus, in part one of our series on housing, the FT’s Sonja Hutson looks at why there are so few homes on the US market.  Mentioned in this podcast: Gilt yields soar towards ‘mini’ Budget levels after inflation disappoints Au...

A double-digit drop in German exports to China has rattled Europe’s biggest economy and the UK is set to lose a high-profile solar power investment. Plus, the FT’s Harry Dempsey explains why investors and central banks are piling into the gold market. Mentioned in this podcast: Big drop in German exports to China raises fears over EU’s industrial powerhouse UK set to lose solar investment after de...

China’s semiconductor industry fears Japanese curbs on exports of crucial chipmaking equipment are stricter than US limits, Meta has been hit with a €1.2bn fine by the EU for privacy violations, and the Adani Group is trying to woo investors after a series of allegations from short-seller Hindenburg.  Mentioned in this podcast: China fears Japan’s chipmaking curbs go further than US restricti...

Florida governor Ron DeSantis is expected to launch his campaign for US president this week, China has banned operators of key infrastructure from buying chips from US chipmaker Micron Technology, and Morgan Stanley is searching for a new CEO after James Gorman announced that he’s stepping down. Plus, the FT’s Sylvia Pfeifer explains how the war in Ukraine has put a spotlight on tech-led defence c...

The US Supreme Court rules to protect big tech companies from being liable for users’ posts, and G7 countries are preparing new sanctions against Russia. Plus FT technology reporter Cristina Criddle learned that TikTok spied on her. She talks about her experience. Mentioned in this podcast: Supreme Court sides with tech giants over legal shield for content TikTok spied on me. Why? G7 host Japan se...

Ukraine’s allies worry that support from the US will lose steam during next year’s election cycle, and Japan’s stocks are reaching new highs. Plus, the European Central Bank is big on a digital currency. Europeans? Not so much. Mentioned in this podcast: Ukraine’s allies fear military support will fade in US election year Japan stock index hits 33-year high as investors warm to Tokyo story The dig...

The Federal Trade Commission sued to block the biotechnology company Amgen’s $28.3bn deal to acquire Horizon Therapeutics, Italy is struggling to spend €200bn in EU Covid recovery funds, and Ukraine said it repelled an unprecedented barrage of Russian missiles over Kyiv.  Mentioned in this podcast: FTC warns of ‘rampant’ pharma consolidation as it targets $28bn Amgen deal Italy overhauls plan...

Ford plans to reduce its future investment in China, and prominent investors are upset with the record number of share buybacks. Plus, the FT’s Eleni Varvitsioti explains that Greece’s economic recovery has come at a cost to some of its citizens.  Mentioned in this podcast: Ford to scale back China investments amid EV competition from local rivals Greece’s ‘greatest turnround’: from junk to i...

Turkish leader Recep Tayyip Erdoğan and rival Kemal Kılıçdaroğlu are locked in a tight battle for the presidency as the election count suggested rising odds of an unprecedented second round, Argentina today will announce a new round of emergency government measures, Twitter's new CEO could mend relations with advertisers who have paused spending on the social media site, and big infrastructure pro...

Elon Musk says he’s hired a new CEO for Twitter, and Turkey heads to the polls this weekend for what analysts say is the biggest presidential election there in decades. Plus, the FT’s Katie Martin and Jennifer Hughes explain what the US debt ceiling fight is doing to Treasury markets.  Mentioned in this podcast: Elon Musk says he has found a new Twitter CEO EU plans Black Sea internet cable t...

Disney sharply reduced its losses from video streaming in the second quarter, US inflation dipped to its lowest level since April 2021, and the FT’s Joe Leahy explains China’s crackdown on foreign business due diligence firms, including Capvision, Bain and Mintz.  Mentioned in this podcast: Disney shaves streaming losses as subscription fees rise US inflation eases to 4.9% in April as Fed tig...

Donald Trump has been found liable for the sexual abuse of a journalist in a Manhattan department store in the 1990s, Ireland plans to set up a sovereign wealth fund with its bumper budget surpluses, and China’s foreign minister has condemned EU proposals to impose sanctions on Chinese companies for supporting Russia’s war machine. Plus, the FT’s Hannah Murphy talks about one of the latest challen...

The Bank of England is set to raise interest rates to their highest level since 2008 this week, and investors are worried about the impact of rising rates on US commercial real estate. Plus, the FT’s James Kynge explains the decline in Chinese investment into Europe.   Mentioned in this podcast: Bank of England set to raise rates to highest level since 2008 US lenders warned that commerc...

The G7-led price cap on Russian oil exports has forced the Kremlin to raise the tax burden on producers, and education companies are struggling after a warning over ChatGPT. Plus, the FT’s deputy Washington bureau chief Lauren Fedor explains what’s at stake if the US doesn’t raise its debt ceiling.  Mentioned in this podcast: Russia’s energy sector hit as Kremlin forced to increase tax Debt c...

Apple said on Thursday that revenues shrank for a second straight quarter, the European Central Bank raised interest rates by a quarter of a percentage point, and US regional banks suffered severe stock declines.  Mentioned in this podcast: ECB raises rates as Lagarde warns of ‘more ground to cover’ Western Alliance shares recover after it denies report of potential sale What’s changed for re...

The US Federal Reserve raised its benchmark interest rate by a quarter of a percentage point, Russia accused Ukraine of attempting to assassinate President Vladimir Putin in a late-night drone attack on the Kremlin, and local elections in the UK are a major test for the largest two parties as they prepare for a general election next year.  Mentioned in this podcast: Fed implements quarter-poi...

The rescue of First Republic this week has failed to stop a sell-off in regional bank shares, Apple experienced a big boost in demand in India driven by a surge in refurbished iPhone sales, and European banks are hoping to scoop up some of Credit Suisse’s business now that the lender has been bought by UBS.  Mentioned in this podcast: First Republic rescue fails to arrest slide in US regional...

Chinese initial public offerings have raised more than five times as much money as those in the US this year, and Germany’s lawmakers are set to pass immigration reforms to address a worsening skills shortage. Plus, the FT’s Brooke Masters unpacks the deal for First Republic and what’s in it for JPMorgan. Mentioned in this podcast: China dominates global IPO market as Wall Street fails to rebound...

At least three large banks have submitted bids to buy all or parts of First Republic, the US is urging South Korea not to fill China’s semiconductor shortfalls if Beijing bans Micron chips, and Iran’s statistics authorities have kept inflation data under wraps for the last two months. Plus, mining companies are willing to go to the bottom of the ocean for rare and precious resources.   M...

Russia’s stock market has climbed to its highest level in more than a year, European commercial real estate deals hit an 11-year-low last quarter, and Big Tech continues to prop up the US stock market. Mentioned in this podcast: Russian stock market hits year high as trapped investors have nowhere else to go Traditional investors are learning it’s tricky to be picky European commercial real estate...

Walt Disney sued Florida governor Ron DeSantis over the state’s ‘retaliation’ for the company’s stance on ‘Don’t Say Gay’ law, UK regulators have blocked Microsoft’s $75bn acquisition of Activision Blizzard, and the FT’s Harriet Agnew explains why conservative UK pension funds are leading start-ups to look for capital in different countries.  Mentioned in this podcast: US growth set to have c...

Google’s advertising revenue in the first quarter of 2023 nearly matched numbers from a year ago, tens of thousands of Sudanese refugees have crossed into neighbouring Chad, and First Republic Bank saw its shares plummet nearly 50 per cent yesterday. Plus, General Motors is diversifying its EV battery production. Mentioned in this podcast: Google advertising bounces back with return to revenue gro...