FT News Briefing

Apple’s rollout of artificial intelligence services in China with Alibaba is being held up, Wells Fargo faces an uphill battle to catch up with its rivals after asset cap was lifted, and US President Donald Trump says Russian President Vladimir Putin is not ready for “immediate peace” with Ukraine. Plus, the European Commission has finally given Bulgaria the green light to join the Eurozone in 2026. Mentioned in this podcast: Apple and Alibaba’s AI rollout in China delayed by Trump trade war [https://on.ft.com/4dMhD0V] Wells Fargo has finally shed its dunce cap [https://on.ft.com/43MMDcm] Wells Fargo asset cap lifted after ‘fake accounts’ scandal [https://on.ft.com/3HsMzY0] Putin planning to retaliate for Ukraine drone attack, says Trump [https://on.ft.com/43UvaPw] Bulgaria to join Eurozone in 2026 [https://on.ft.com/3FqKhbc] Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, Lulu Smyth, and Marc Filippino. Additional help from Blake Maples, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com [https://www.ft.com/content/d2131fe2-9245-4355-856c-6c4aec4235f1] ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Dutch Prime Minister Dick Schoof resigned after far-right leader Geert Wilders walked out of his coalition government, Mexico’s new supreme court is set to solely contain judges nominated by the ruling coalition, and Eurozone inflation fell below the European Central Bank’s 2 per cent target. Plus, the FT’s Akila Quinio explains how the Royal Bank of Scotland was nationalised in the wake of the 2008 financial crisis and then reborn.  Mentioned in this podcast: Far-right Dutch leader Geert Wilders quits government [https://on.ft.com/3SB5Cl5] Tiny slice of Mexicans elect supreme court closely tied to ruling party [https://on.ft.com/3Z9UHCI] Eurozone inflation falls below target to 1.9% [https://on.ft.com/4jwxstC] The RBS story: how the world’s biggest bank was nationalised and then reborn [https://on.ft.com/3FkbyMs] South Korean leftwinger Lee Jae-myung wins presidential election [https://on.ft.com/45CQn2C] Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Fiona Symon, Mischa Frankl-Duval, and Marc Filippino. Additional help from Blake Maples, Michael Lello, and Gavin Kallmann. Our intern is Michaela Seah. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com [https://www.ft.com/content/6703f027-eb2e-439a-9fbf-ed44b3f69bf7] ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Elon Musk’s xAI is launching a $300mn share sale that values the group at $113bn, and China’s property sector woes are compounded by tariff worries. Plus, Poland’s new president is going to make life hard for the country’s prime minister, and the FT’s Amelia Pollard explains why US president Donald Trump wants to take mortgage giants Fannie Mae and Freddie Mac private.  Mentioned in this podcast: EU companies more concerned about China slowdown than tariffs [https://on.ft.com/43DCqyU] Donald Trump’s plans for Fannie and Freddie would mean payday for hedge funds [https://on.ft.com/4knwyRq] Nationalist candidate Karol Nawrocki wins knife-edge Poland presidential election [https://on.ft.com/43GOYWl] Elon Musk’s xAI seeks $113bn valuation in $300mn share sale [https://on.ft.com/3SsNt94] Today’s FT News Briefing was produced by Sonja Hutson, Ethan Plotkin, Kasia Broussalian, Fiona Symon, Mischa Frankl-Duval, and Marc Filippino. Additional help from Blake Maples, David da Silva and Gavin Kallmann. Our intern is Michaela Seah. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com [https://www.ft.com/content/6601dbe1-df04-4218-a460-375c9311417e] ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Private equity dealmaking around the world slowed down in the second quarter of 2025, and South Korea holds elections on Tuesday after months of political instability. Plus, office space construction in the UK has reached a ten-year low, and Wall Street is warning that a little-publicised foreign tax provision in Donald Trump’s budget bill could upend markets.  Mentioned in this podcast: Trump tariffs cut off recovery in private equity dealmaking [https://on.ft.com/3HjYvLz] Leftwing ‘brawler’ on verge of South Korea presidency [https://on.ft.com/43E2c5Y] The ‘quiet’ crisis brewing between the US and South Korea [https://on.ft.com/4mEVGoq] Foreign tax provision in Trump budget bill spooks Wall Street [https://on.ft.com/451TDVc] UK office construction drops to 10-year low [https://on.ft.com/4mLJRgo] Today’s FT News Briefing was produced by Sonja Hutson, Ethan Plotkin, Kasia Broussalian, Henry Larson, and Marc Filippino. Additional help from Peter Barber. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com [https://www.ft.com/content/977db090-4f76-4092-9ca0-ee072e85fb2a] ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

Republicans are often known as the party of fiscal responsibility. This week, Swamp Notes unravels the US House of Representatives’ “big, beautiful” bill and its uncertain path forward in the Senate. Edward Luce, US national editor and columnist, and James Politi, Washington bureau chief, explain what made congressional Republicans go all in on big spending, tax cuts and more debt.  Subscribe to the new Swamp Notes feed here [https://www.ft.com/swamp-notes-podcast].  Mentioned in this podcast: Read Edward Luce’s column on the new ‘moron premium’ for Treasuries [https://www.ft.com/content/d9c762c5-64dc-42a6-bf87-b830808ec5b6] US House passes Donald Trump’s showpiece tax bill [https://www.ft.com/content/84a07f19-5cab-4ea8-96c4-127f2ccf736d] Sign up for the FT’s Swamp Notes newsletter here [https://ep.ft.com/newsletters/56a64b704f693a0300dfab7e/subscribe] Swamp Notes is produced by Lauren Fedor, Katya Kumkova and Henry Larson. Topher Forhecz is the acting co-head of audio. Special thanks to Pierre Nicholson. ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.