FT News Briefing

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 [https://open.spotify.com/show/72J3TnV5JP4TCZyIhhBToC] Buyout bosses turn to carried interest loans as payouts stall [https://www.ft.com/content/1fe784c5-f52c-48c0-a99e-4d1b83546c32?accessToken=zwAAAZ-K3l-XlNPa9YIoeuRFtdOVOtMKori4Rc8f54TF9SxIwNOpnk0bg1RsMtO1wR-nqLZJ7tOUT9dWOMWvqNPibr8RIohJE9OW8wAfYGV1WgE.MEQCIEZqnbC0-qUB1e-2zt124UiCP9HR4y14-5VQInPGzv5hAiBJIOHaUJfcpxy75T-mvTd-LQShIt5qgBJPVHdhHg9o_g&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] What lies behind the new boom in Colombian cocaine [https://www.ft.com/content/b5c11fa7-a8b6-49ee-944f-d75638c5afa8?accessToken=zwAAAZ-K3l-XlNPa9YIoeuRFtdOVOtMKori4Rc8f54TF9SxIwNOpnk0bg1RsMtO1wR-nqLZJ7tOUT9dWOMWvqNPibr8RIohJE9OW8wAfYGV1WgE.MEQCIEZqnbC0-qUB1e-2zt124UiCP9HR4y14-5VQInPGzv5hAiBJIOHaUJfcpxy75T-mvTd-LQShIt5qgBJPVHdhHg9o_g&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Alan Greenspan dies aged 100 [https://www.ft.com/content/e26ebf11-2288-4913-96f3-001f6065755a?accessToken=zwAAAZ-K3l-XlNPa9YIoeuRFtdOVOtMKori4Rc8f54TF9SxIwNOpnk0bg1RsMtO1wR-nqLZJ7tOUT9dWOMWvqNPibr8RIohJE9OW8wAfYGV1WgE.MEQCIEZqnbC0-qUB1e-2zt124UiCP9HR4y14-5VQInPGzv5hAiBJIOHaUJfcpxy75T-mvTd-LQShIt5qgBJPVHdhHg9o_g&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] CREDIT: Keir Starmer YouTube page  Tell us your thoughts to enter a prize draw for a chance to win a pair of Bose QuietComfort Headphones worth £229.  https://www.feedback.ft.com/c/a/6f9bJBvxsxaEBSIB5esBIS [https://www.feedback.ft.com/c/a/6f9bJBvxsxaEBSIB5esBIS] Over 18s only. Find full T&Cs here [https://www.feedback.ft.com/c/a/6g6cqRVqAJAD2FvrytKwi]   Prize Draw winners’ surnames and regions may be made available upon request, as required by the Advertising Standards Authority. If you do not want your information to be made available, please email Privacy.Officer@ft.com upon entry. For more information on your rights and how we use your data, please read our Privacy Policy [https://help.ft.com/help/legal-privacy/privacy/]. Want to get in touch? Email us at podcasts@ft.com [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 Kumkova, and Fiona Symon. Our editor is Marc Filippino. Our show is mixed by Kelly Garry and Alex Higgins. Additional help from Michela Tindera, Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music. Read a transcript of this episode on FT.com [https://www.ft.com/content/a7cedc31-b4cf-450f-a3e1-7def55ec1e0a?syn-25a6b1a6=1] ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

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 [https://www.ft.com/content/ed96e673-8d46-4dec-aebc-d69863b9e801?accessToken=zwAAAZ-Fbp4LldPtluZzjUZN7NOuvNaYY7noAdOzq3g-5NZJTdO0XH1YsP3uetPBAUZDlAxIdNOZigpS61F8SdPLU19D0rdNFNOC_qvdFHZd_tOu5C0zSRNDkNOGTEny3jJUDgE.MEUCIQDyrL0zinQE4T9pCqEh44Mbb4ygVFWc5l-IxEKtWuIyuwIgYw05zz_l8eMpl1OLNbesjAfqfeHKZ_lPoLsGJqQrIvI&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] What Andy Burnham’s Westminster past reveals about him [https://www.ft.com/content/b3ab783e-e4d6-494d-b45c-7d58b0fdee7a?accessToken=zwAAAZ-Fbp4LldPtluZzjUZN7NOuvNaYY7noAdOzq3g-5NZJTdO0XH1YsP3uetPBAUZDlAxIdNOZigpS61F8SdPLU19D0rdNFNOC_qvdFHZd_tOu5C0zSRNDkNOGTEny3jJUDgE.MEUCIQDyrL0zinQE4T9pCqEh44Mbb4ygVFWc5l-IxEKtWuIyuwIgYw05zz_l8eMpl1OLNbesjAfqfeHKZ_lPoLsGJqQrIvI&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] US and Iran hold crunch talks in Switzerland [https://www.ft.com/content/c1014643-940c-4874-998a-0a52eb517c49?accessToken=zwAAAZ-Fbp4LldPtluZzjUZN7NOuvNaYY7noAdOzq3g-5NZJTdO0XH1YsP3uetPBAUZDlAxIdNOZigpS61F8SdPLU19D0rdNFNOC_qvdFHZd_tOu5C0zSRNDkNOGTEny3jJUDgE.MEUCIQDyrL0zinQE4T9pCqEh44Mbb4ygVFWc5l-IxEKtWuIyuwIgYw05zz_l8eMpl1OLNbesjAfqfeHKZ_lPoLsGJqQrIvI&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Wars trigger $12bn venture capital rush into defence tech [https://www.ft.com/content/cb535f43-d2b7-4d14-82fe-abdd14765dfe?accessToken=zwAAAZ-Fbp4LldPtluZzjUZN7NOuvNaYY7noAdOzq3g-5NZJTdO0XH1YsP3uetPBAUZDlAxIdNOZigpS61F8SdPLU19D0rdNFNOC_qvdFHZd_tOu5C0zSRNDkNOGTEny3jJUDgE.MEUCIQDyrL0zinQE4T9pCqEh44Mbb4ygVFWc5l-IxEKtWuIyuwIgYw05zz_l8eMpl1OLNbesjAfqfeHKZ_lPoLsGJqQrIvI&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Kevin Warsh’s push to axe Fed guidance may lift US borrowing costs, investors warn [https://www.ft.com/content/6a9330ad-a2db-494b-bf61-7dd417ab9c9a?accessToken=zwAAAZ-GTAxmkc9qkzCtottJS9O_YX3UF6ucmgE.MEUCIQDxS1Ov06ILM92zs5l81_W2Cu0jEbCmRyH0PkIf-ZCm-wIgP9iDdFvc5KbxKou_XijUnFqMmgTAFB8i6ZAV2QnsIao&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Take our survey!  [https://www.feedback.ft.com/c/a/6f9bJBvxsxaEBSIB5esBIS] Tell us your thoughts to enter a prize draw for a chance to win a pair of Bose QuietComfort Headphones worth £229. Over 18s only. Find full T&Cs here [http://feedback.ft.com/c/a/6g6cqRVqAJAD2FvrytKwi].   Prize Draw winners’ surnames and regions may be made available upon request, as required by the Advertising Standards Authority. If you do not want your information to be made available, please email Privacy.Officer@ft.com upon entry. For more information on your rights and how we use your data, please read our Privacy Policy. Want to get in touch? Email us at podcasts@ft.com [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 Kumkova, and Fiona Symon. Our editor is Marc Filippino. Our show is mixed by Kelly Garry and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music. ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

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 [https://www.ft.com/content/44e1e71d-dcd2-4935-a14b-b14ed3b24bf8?accessToken=zwAAAZ94N5lPkc9E4ecd3NJJNdOhS7FO07JL-AE.MEYCIQDxqKLOnhyN0ygURCoxIU34Uv99lap1Mu-I1EZUfqIZWgIhAKXEzPPS3er385k2DS-lEakIAYfb0qay3_6dDIPyzTGY&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] ‘Hawkish shift’ in US rates upends global currency bets [https://www.ft.com/content/9d0f7f40-0a65-4188-9752-a69baab12176?accessToken=zwAAAZ92lcP8lNOdD39ACmVBiNOXUqabqrEhds9N7_f52DpJSNOwBHtPCcomrNPA0JJ4mgJOK9OZY-rmARD6EtO-g5fffHROrNOJy1k21yYblQE.MEUCIQCEBrAy85Xddo8FuYZrwN2pkSSzqMji2jOLRt9eSNIn9QIgSN5F-qZLuT9kFFJvwlQdm_1T4dThCAlRykqWzww3lAQ&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Insurers seek to define ‘war’ as risk rises of global power clashes [https://www.ft.com/content/c0d09278-9a02-4e2b-9963-eae60110fa12?accessToken=zwAAAZ92lcP8lNOdD39ACmVBiNOXUqabqrEhds9N7_f52DpJSNOwBHtPCcomrNPA0JJ4mgJOK9OZY-rmARD6EtO-g5fffHROrNOJy1k21yYblQE.MEUCIQCEBrAy85Xddo8FuYZrwN2pkSSzqMji2jOLRt9eSNIn9QIgSN5F-qZLuT9kFFJvwlQdm_1T4dThCAlRykqWzww3lAQ&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Bank of England holds interest rates at 3.75% [https://www.ft.com/content/be8397df-7c74-4eac-89cb-5936d7261b95?accessToken=zwAAAZ92lcP8lNOdD39ACmVBiNOXUqabqrEhds9N7_f52DpJSNOwBHtPCcomrNPA0JJ4mgJOK9OZY-rmARD6EtO-g5fffHROrNOJy1k21yYblQE.MEUCIQCEBrAy85Xddo8FuYZrwN2pkSSzqMji2jOLRt9eSNIn9QIgSN5F-qZLuT9kFFJvwlQdm_1T4dThCAlRykqWzww3lAQ&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Iranian football team told to return to Mexico after opening World Cup game [https://www.ft.com/content/4deff7f9-d83a-4948-b004-7b4f09ca26ac?accessToken=zwAAAZ92lcP8lNOdD39ACmVBiNOXUqabqrEhds9N7_f52DpJSNOwBHtPCcomrNPA0JJ4mgJOK9OZY-rmARD6EtO-g5fffHROrNOJy1k21yYblQE.MEUCIQCEBrAy85Xddo8FuYZrwN2pkSSzqMji2jOLRt9eSNIn9QIgSN5F-qZLuT9kFFJvwlQdm_1T4dThCAlRykqWzww3lAQ&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] For Iran’s diaspora, a tough World Cup call: To support the national team or protest – or both? [https://theconversation.com/for-irans-diaspora-a-tough-world-cup-call-to-support-the-national-team-or-protest-or-both-284277] Want to get in touch? Email us at podcasts@ft.com [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 Kumkova, and Fiona Symon. Our editor is Marc Filippino. Our show is mixed by Kelly Garry and Alex Higgins. Additional help from Michela Tindera, Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.  Read a transcript of this episode on FT.com [https://www.ft.com/content/07ff85dd-4caf-4421-828e-65c5379117a3] ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

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 [https://www.ft.com/content/76c16d57-8546-412d-9b76-0e55e6a79348?accessToken=zwAAAZ9xuGs2ks8lzpuNvABBz9OfjL1Sa68u7c92wW1XhUZBLdObdg5V5qeTSAE.MEYCIQCHtaqZoKGaVtaIdEwJBIj8twbz96DBAay4XOSs7slUUQIhAP6xPNnxFMftSnSAokAoGN7hp41NgJwDR9lgf2X_LdX0&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Donald Trump to release Iran’s frozen funds and ease sanctions when ‘they behave’ [https://www.ft.com/content/d4f89b6b-c213-4550-924b-a9ae45e24c37?accessToken=zwAAAZ9xvCPWkdPU-JtrwhNFUNOSS6muReJMNwE.MEUCIHVy_I-LLQ50uR702hP2o2ZKzO_IbuvEiU_mBTdKxY7sAiEAmTVXgg6MpU-W2wcPi1DrWJ3Rap7M_Y35wks_CunOFd8&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Huawei’s big comeback tests limits of US chip controls [https://www.ft.com/content/234c9aeb-33aa-469e-844d-f721e81296cf?accessToken=zwAAAZ9xeHpEk9PG28M-8SxGCNO98sjEsc3CEdPwzHBwhj9AQtO5tIGKYlnKDM8jTJrrM6pGntOETfch6BKWzwE.MEUCIBnJwwigQsT4fJIZERL1Zf_DBgTekC1F8nW6iKsz16lmAiEAgqoULTY40ZfvEU7z4IlwjJaAYREl1LrGBGgfPZSu3f8&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] UK inflation unexpectedly holds steady at 2.8% in May [https://www.ft.com/content/25ce9b8d-bc00-41cf-9f8c-bd526baf2eed?accessToken=zwAAAZ9xuGs2ks8lzpuNvABBz9OfjL1Sa68u7c92wW1XhUZBLdObdg5V5qeTSAE.MEYCIQCHtaqZoKGaVtaIdEwJBIj8twbz96DBAay4XOSs7slUUQIhAP6xPNnxFMftSnSAokAoGN7hp41NgJwDR9lgf2X_LdX0&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Five things to know about the high-stakes Makerfield by-election [https://www.ft.com/content/f0cc7070-863f-4042-b9b4-818a6259ca0c?accessToken=zwAAAZ9xeHpEk9PG28M-8SxGCNO98sjEsc3CEdPwzHBwhj9AQtO5tIGKYlnKDM8jTJrrM6pGntOETfch6BKWzwE.MEUCIBnJwwigQsT4fJIZERL1Zf_DBgTekC1F8nW6iKsz16lmAiEAgqoULTY40ZfvEU7z4IlwjJaAYREl1LrGBGgfPZSu3f8&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] CREDIT: C-SPAN Want to get in touch? Email us at podcasts@ft.com [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 Kumkova, and Fiona Symon. Our editor is Marc Filippino. Our show is mixed by Kelly Garry and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.  Read a transcript of this episode on FT.com [https://www.ft.com/content/dca3e4bc-dfa0-4fd2-95e8-d0ced30cc468] ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

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 [https://www.ft.com/content/17153f13-b0c8-4331-8f97-32a19a5e966e?accessToken=zwAAAZ9sTzVqlM8XFT8TsMhDMdOPlzKhml6Wbs8aVAE-V_RDotOPHEfcRfJYw9PCNpVGaFdH_tOEuzD0KQybtdPC1OEWxJpPa9ObLtENN-TC6AE.MEYCIQCri_7WEBdenI-MJFBB-q-CC0p39lnTT0zffGSdyXDd7AIhAP1HkYGh6N28CzM-lSl12ZRNDeCERcyGxxiWTYioaHjK&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Shipping groups hit by Middle East conflict-induced fuel shortages [https://www.ft.com/content/1a54013e-57f4-43a2-8f1c-47dc45f258c3?accessToken=zwAAAZ9sTzVqlM8XFT8TsMhDMdOPlzKhml6Wbs8aVAE-V_RDotOPHEfcRfJYw9PCNpVGaFdH_tOEuzD0KQybtdPC1OEWxJpPa9ObLtENN-TC6AE.MEYCIQCri_7WEBdenI-MJFBB-q-CC0p39lnTT0zffGSdyXDd7AIhAP1HkYGh6N28CzM-lSl12ZRNDeCERcyGxxiWTYioaHjK&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Investors pile into bullish dollar bets as ‘US exceptionalism’ trade returns [https://www.ft.com/content/c2369546-6857-47fe-84bb-30f4290c9bb5?accessToken=zwAAAZ9sTzVqlM8XFT8TsMhDMdOPlzKhml6Wbs8aVAE-V_RDotOPHEfcRfJYw9PCNpVGaFdH_tOEuzD0KQybtdPC1OEWxJpPa9ObLtENN-TC6AE.MEYCIQCri_7WEBdenI-MJFBB-q-CC0p39lnTT0zffGSdyXDd7AIhAP1HkYGh6N28CzM-lSl12ZRNDeCERcyGxxiWTYioaHjK&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Oil falls on US-Iran deal but Hormuz backlog may last weeks [https://www.ft.com/content/c2d4e116-c49a-4f6b-9b2e-d10d37e4c2e8?accessToken=zwAAAZ9sTzVqlM8XFT8TsMhDMdOPlzKhml6Wbs8aVAE-V_RDotOPHEfcRfJYw9PCNpVGaFdH_tOEuzD0KQybtdPC1OEWxJpPa9ObLtENN-TC6AE.MEYCIQCri_7WEBdenI-MJFBB-q-CC0p39lnTT0zffGSdyXDd7AIhAP1HkYGh6N28CzM-lSl12ZRNDeCERcyGxxiWTYioaHjK&segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902] Want to get in touch? Email us at podcasts@ft.com [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 Kumkova, and Fiona Symon. Our editor is Marc Filippino. Our show is mixed by Kelly Garry and Alex Higgins. Additional help from Michela Tindera, Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music. Read a transcript of this episode on FT.com [https://www.ft.com/content/2e73a9e6-cb69-456b-a6ee-7ae90dbd2589] ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.