Private equity recycles assets
Tesla’s second-quarter profits fell 23 per cent as sales of its electric vehicles continued to slide, private equity firms made record use of a controversial tactic to cash out their clients this year, and McKinsey has stopped its China business from undertaking some generative artificial intelligence work. Plus, Taiwan will hold a recall election this weekend and the outcome could mean a lot for its relationship with China.Mentioned in this podcast:Elon Musk warns ‘rough quarters’ ahead for Tesla after Trump cancels EV incentivesPrivate equity firms flip assets to themselves in record numbersMcKinsey bars China practice from generative AI work amid geopolitical tensionsTaiwan’s once-dominant KMT falls ‘out of step’ with the electorateTaiwan launches unity drive as China threat loomsEmail Swamp Notes your questions: marc.filippino@ft.comToday’s FT News Briefing was produced by Henry Larson, Sonja Hutson, and Marc Filippino. Additional help from Blake Maples and Gavin Kallmann. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
24 Juli 11min
Big Pharma’s China gamble
US House Speaker Mike Johnson sent home Congress members early to avoid a vote on releasing files on Jeffery Epstein, Nigeria’s recalculated GDP reflects a 30 per cent growth of its economy, and US President Donald Trump’s tariffs have hit General Motors' profits. Plus, global pharma companies have spent a record amount on Chinese biotech this year and Coca-Cola is putting cane sugar back in Coke.Mentioned in this podcast:Mike Johnson shuts US House early to avoid Epstein voteNigeria’s economy 30% bigger after GDP recalculation Big Pharma is increasingly reliant on Chinese biotech advancesGM profits hit by Trump’s tariffs while EV sales more than doubleCoca-Cola to launch cane sugar-based Coke in US this autumnToday’s FT News Briefing was produced by Sonja Hutson, Katya Kumkova, and Marc Filippino. Additional help from Kelly Garry and Michael Lello. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
23 Juli 10min
What deregulation means for the UK economy
JPMorgan Chase explores lending against cryptocurrency, and the UK will have to pay in order to join the EU’s defence fund. Plus, UK chancellor Rachel Reeves blames regulation for lack of financial growth and a start-up in San Francisco might know how to create gold. Mentioned in this podcast:JPMorgan explores lending against clients’ cryptocurrencyEU will make UK pay to join €150bn defence fundWill a return to risk-taking rouse animal spirits?Fusion energy start-up claims to have cracked alchemy Today’s FT News Briefing was produced by Sonja Hutson, Katya Kumkova, and Marc Filippino. Additional help from Blake Maples, Michael Lello, David da Silva and Gavin Kallmann. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
22 Juli 10min
Trump’s $50bn tariff haul
Japan’s ruling coalition lost its majority in the country’s upper house of parliament, and the European Union is trying to break its dependency on American tech. Plus, the London Stock Exchange Group is weighing whether to launch 24-hour trading, and US President Donald Trump’s tariffs have raised nearly $50bn in extra customs revenues.Mentioned in this podcast:Japan’s Ishiba loses majority in election blowCan Europe break free of American tech supremacy?London Stock Exchange Group considers launch of 24-hour tradingDonald Trump reaps $50bn tariff haul as world ‘chickens out’Today’s FT News Briefing was produced by Sonja Hutson, Katya Kumkova, Ethan Plotkin, and Marc Filippino. Additional help from Peter Barber and Alexander Higgins. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
21 Juli 10min
Is Ukraine sliding into authoritarianism?
Ukrainian President Volodymyr Zelenskyy is accused of authoritarianism after favoring loyalists in anti-corruption raids, and the Meta board settles a multibillion-dollar lawsuit over failing to prevent data breaches. Plus, FT columnist Ruchir Sharma explains why investors are going all in on Israel. Mentioned in this podcast:Volodymyr Zelenskyy accused of authoritarian slide after anti-corruption raidsMeta board settles Delaware case over multibillion-dollar cost of data breachesThe markets are signalling a clear winner in the Middle EastFT Weekend Fest Promo code: FTPodcastsToday’s FT News Briefing was produced by Sonja Hutson, Katya Kumkova, and Marc Filippino. Additional help from Kelly Garry, Michael Lello and David da Silva. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
18 Juli 10min
US investment banking is so back
Donald Trump asked lawmakers whether he should fire Federal Reserve chair Jay Powell, and Wall Street saw a surprise comeback in investment banking fees. Plus, the UK’s inflation rate rose higher than expected last month, and yields on Japan’s 10-year government debt jumped ahead of Sunday’s election.Mentioned in this podcast:Donald Trump asked lawmakers whether he should fire Fed’s Jay Powell Goldman Sachs profits jump 22% after investment banking gains UK inflation unexpectedly rises to 18-month high of 3.6%Japan’s 10-year yield hits highest level since 2008 financial crisisCredit: Fox NewsSend in your Swamp Notes questions (Marc.Filippino@FT.com)Today’s FT News Briefing was produced by Sonja Hutson, Katya Kumkova, Ethan Plotkin, Henry Larson and Marc Filippino. Additional help from Blake Maples, Michael Lello and David da Silva. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
17 Juli 11min
Why the UK kept an Afghan immigration scheme secret
US President Donald Trump sealed a trade deal with Indonesia and the UK had a secret plan to immigrate Afghans to Britain after a data leak. Plus, tariffs have finally hit US inflation, and climate change is driving the sale of catastrophe bonds. Mentioned in this podcast:Donald Trump announces trade deal with Indonesia Catastrophe bond sales hit record as insurers offload climate risksUK set up secret Afghan immigration scheme after data leak and gagged mediaUS inflation reaches 2.7% as Trump tariffs hitToday’s FT News Briefing was produced by Sonja Hutson, Katya Kumkova, and Marc Filippino. Additional help from Blake Maples, Michael Lello and David da Silva. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
16 Juli 10min
Washington weighs in on crypto
The EU proposes to shift its budget to send billions to eastern European countries, and bitcoin hits a record high as US lawmakers are about to vote on cryptocurrency laws. Plus, chancellor Rachel Reeves is set to talk about the UK’s vision for the financial services sector, and Nissan’s hybrid technology launch in the US. Mentioned in this podcast:EU budget shake-up to shift billions to eastern states Bitcoin hits $120,000 milestone as US Congress readies for ‘crypto week’ Rachel Reeves to hail fiscal ‘stability’ and City risk-taking in Mansion House speech‘E-power’: the hybrid tech Nissan is counting on to conquer the USToday’s FT News Briefing was produced by Fiona Symon, Mischa Frankl-Duval, Sonja Hutson, Katya Kumkova, and Marc Filippino. Additional help from Blake Maples, Michael Lello and David da Silva. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
15 Juli 10min
