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The Kremlin is pinching oil producers for more money, and education companies are hurting because of artificial intelligence tech like chat GPT. The US economy could be headed for a disaster if lawmakers can't agree to raise the debt limit soon. And we'll take a look at why Democrats and Republicans aren't getting this done.

The G7-led price cap on Russian oil exports has forced the Kremlin to raise the tax burden on producers, and education companies are struggling after a warning over ChatGPT. Plus, the FT’s deputy Washington bureau chief Lauren Fedor explains what’s at stake if the US doesn’t raise its debt ceiling.

Mentioned in this podcast:

Russia’s energy sector hit as Kremlin forced to increase tax

Debt ceiling diehard in rural Virginia vows to ‘call Democrats’ bluff’

Yellen warns of ‘constitutional crisis’ over US debt ceiling impasse

Education companies’ shares fall sharply after warning over ChatGPT

Credit: The debt ceiling must be raised to avoid 'economic calamity’: Janet Yellen

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Katie McMurran, 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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