FT News Briefing

Drugmakers could decide to settle thousands of claims against them over the opioid crisis after a $572m court order against Johnson & Johnson, President Trump says China is seeking talks on a deal to end the ongoing trade war between the two countries and New York-based hedge fund manager, Autonomy Capital, saw its fund lose more than 16 per cent in the first two weeks of August as a result of...

In a Summer Bank Holiday special episode, we look at Wall Street’s pressure on private prisons and why some of the top global cities are shrinking.  Hosted on Acast. See acast.com/privacy for more information.

A harbinger of a recession, the yield on the two-year Treasury bill rose above that of the benchmark 10-year note again on Thursday as the world’s central bankers convened in Jackson Hole, Wyoming. Plus, intensifying regulatory scrutiny of Facebook’s Libra digital currency has spooked some of the project’s early backers, and Brazil’s environment minister says the solution to illegal logging in the...

European Commission officials tell the FT they are planning news rules that will give EU citizens explicit rights over the use of their facial recognition data, the IMF backs the scrapping of a longstanding age restriction, clearing the way for Kristalina Georgieva to take the top spot, President Emmanuel Macron of France scraps the tradition of a joint final communiqué at the G7 summit and minute...

US president Donald Trump considers tax cuts to stimulate the economy and Italian prime minister Giuseppe Conte resigns. Also, US regulators rewrite the Volcker rule, Facebook launches a new privacy tool pilot and Walmart sues Tesla over solar panel fires. Plus, the FT’s Seb Payne unpacks the stand-off between Boris Johnson and European Council president Donald Tusk over Britain’s withdrawal agree...

Apple commits more than $6bn for original shows and movies ahead of the launch of its new video streaming service and UK prime minister Boris Johnson intensifies his efforts to jettison the Irish border backstop from the Brexit withdrawal agreement. Also, Facebook and Twitter move to curb Chinese state-backed disinformation campaigns that target pro-democracy Hong Kong protesters, the Trump admini...

A body advising the European Central Bank warns that European banks and other financial institutions need to speed up their preparations for the phasing out of a key interest rate benchmark, top White House economic advisor Larry Kudlow says there is no recession coming, Donald Trump casts doubt on any Huawei reprieve and Hong Kong protesters rally in defiance of Beijing. Plus, the FT’s Madhumita...

Gibraltar releases an Iranian tanker after a court sets aside a last-minute legal bid from the US to seize the vessel and Walmart raises its outlook for the US market while government data show unexpectedly strong retail sales for July in the country. Plus, the yield on 30-year US government bonds falls below 2 per cent for the first time on Thursday, China’s paramilitary police converge in a stad...

US equities fell 3 per cent on Wednesday on fears of slowing global growth, while bond markets signalled the chances of a mounting recession and WeWork unveiled its prospectus for a $3bn-$4bn initial public offering. Plus, UK Labour party leader Jeremy Corbyn sets out a proposal for a temporary government that would help delay Brexit, Canada’s ethics watchdog says Justin Trudeau violated conflict-...

US stocks and China’s currency rallied sharply on Tuesday after Washington announced a delay to some additional tariffs on Chinese imports, hundreds of flights out of Hong Kong are cancelled for the second day in a row after protesters clash with police, CBS and Viacom agree on an all-stock merger and Facebook has halted the “human review” of recorded voice messages. Plus, the FT’s Tim Bradshaw ex...

Investors see the odds of an Argentine debt default soaring after opposition candidate Alberto Fernández’s victory in primary elections, the US yield curve flattened to levels not seen since before the financial crisis and consulting group KPMG ousted the head of its UK financial services unit after an investigation into his conduct involving messages sent on WhatsApp. Plus, the FT’s senior energy...

Global investment banks are shedding almost 30,000 jobs as the outlook for the sector deteriorates, BlackRock buys an $870m stake in Authentic Brands, which owns the brand rights to Marilyn Monroe and Elvis Presley and British workers travelling to the EU will be unable to carry out even basic business tasks after a no-deal Brexit unless they navigate a complex web of work permits. Plus, money man...

Uber posts a $5.2 billion loss as costs from its initial public offering hit earnings, Italy’s prime minister Giuseppe Conte asks for parliament to be recalled so he can hold a vote of confidence and US stocks notched their biggest jump in two months on Thursday after upbeat Chinese data soothed investors’ nerves. Also, Broadcom agrees a deal to acquire Symantec’s enterprise security business for...

US stocks closed in positive territory on Wednesday as investors pushed back against deepening concerns over global growth, and the Trump administration is cracking down on Huawei and other Chinese companies seen as security threats. Plus, Broadcom revives talks with Symantec, Russia’s state-owned oil company becomes the last major supplier of petrol to Venezuela, US secretary of state Mike Pompeo...

Disney shares fall as the company misses earnings estimates in its most recent quarter, Facebook sues two app developers for advertising fraud and Match Group raises earnings guidance for 2019 after a strong boost to Tinder subscribers in the second quarter. Plus, the FT’s US economics editor, Brendan Greely, explains why the Trump administration has few tools to weaken the dollar. Hosted on Acast...

US Treasury labels China a currency manipulator, Hong Kong’s first general strike in more than 50 years brings the city to a standstill, US president Donald Trump condemns white supremacy after two separate mass shootings and luxury department store chain Barneys New York prepares to file for bankruptcy.  Hosted on Acast. See acast.com/privacy for more information.

At least 29 people were killed in two separate shootings in the US over the weekend, Washington identifies Chinese tankers carrying Iranian oil and US retailers warn that new tariffs threaten to accelerate lay-offs across the industry. Plus, the FT’s Michael Stott explains the political standoff fuelling an economic collapse in Venezuela. Hosted on Acast. See acast.com/privacy for more information...

US President Donald Trump says the US will place a 10 per cent tariff on $300bn of additional Chinese goods, growth in corporate share buybacks starts to cool, Pinterest shares surge after the social media network raises its full year forecasts and Bank of England forecasts show a one-in-three chance that the UK economy will shrink at the start of next year.  Plus, George Parker recaps Boris...

The Federal Reserve cuts US interest rates by a quarter point, the Trump administration imposes sanctions on Iran’s foreign minister, UniCredit and Ford launch investigations into whether their data were caught up in the Capital One security breach and Qualcomm warns of “continued weakness in China”. Plus, Mexico narrowly avoided a recession in the second quarter. The FT’s Jude Webber explains wha...

The Federal Reserve is expected to announce the first cut in US interest rates since the global financial crisis, Apple delivers upbeat guidance for the rest of 2019 despite shrinking iPhone sales and new data shows that investors have flooded into Saudi stocks this year. Plus, Chris Giles, the FT’s economics editor, explains how Russia is using technology to record and tax real-time transactions....

Uber eliminates 400 marketing jobs in a corporate reorganisation, Citigroup plans to axe hundreds of jobs in its global markets division and new data reveal more than 2,000 Chinese-made security cameras deemed a threat to national security remain in place in US government buildings. Plus, Pfizer reaches a deal to combine its Upjohn unit with generics drugmaker Mylan, Beyond Meat announces a stock...

The UK chancellor of the exchequer, Sajid Javid, plans to announce more than £1bn in increased funding for a no-deal Brexit, Deutsche Bank investigates whether confidential client data was compromised after it failed to deactivate dozens of accounts of fired staff, US President Donald Trump moves to replace Dan Coats as US director of national intelligence and some foreign car manufacturers in Chi...

A rebound in Google’s advertising business propels revenues higher, Amazon’s move to one-day shipping reinvigorated revenue growth in the second quarter while costs increased, the European Union's chief Brexit negotiator calls UK prime minister Boris Johnson’s terms for talks on Brexit “unacceptable” and the European Central Bank signals that it will cut rates and embark on a fresh round of asset...

Former special counsel Robert Mueller warns of Russian interference in the 2020 US election during a day of hearings in Washington, Facebook reveals that the US Federal Trade Commission has launched a formal antitrust investigation into the company, Tesla posts deeper than expected losses as its profit margins fall and UK prime minister Boris Johnson vows to deliver Brexit in 99 days.  Hosted...

Boris Johnson wins the UK Conservative party leadership race to become prime minister, the US Department of Justice announces a broad investigation into Big Tech’s market power, American officials are preparing a trip to China before the end of July in a bid to reignite trade talks, Snapchat’s parent company exceeds revenue estimates and boosts user numbers in the second quarter and WeWork aims to...