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The corporation that owns Fox News has settled a defamation case over its claims of US election fraud to the tune of about $787 million. The biggest US banks have emerged from the banking panic in pretty great shape. China's economy is bouncing back from the pandemic, and lawmakers want to restrict the use of TikTok.

Rupert Murdoch’s Fox has agreed to pay $787.5mn to settle a landmark defamation case, Bank of America emerged from banking turmoil with higher first-quarter profits, China’s latest GDP numbers show the economy is rebounding from one of its worst years in decades, and lawmakers and activists from across the political spectrum have come out against efforts in western countries to ban or curb TikTok

Mentioned in this podcast:

Bank of America plans 4,000 job cuts despite strong results

Five takeaways from China’s first-quarter GDP data

Dissenting politicians join young activists to oppose TikTok bans

FT Live Event: The UK’s 2024 Election

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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