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Joe Biden is expected to announce today that he wants a second term in office. Credit Suisse released its final earnings report ever and the results could mean trouble for UBS. Plus, we'll talk about the growing fortune of the conglomerate behind Gucci, Dior, and Dom Perignon.

US President Joe Biden is expected to announce on Tuesday that he’s running for re-election, UBS could lose customers as a result of its takeover of Credit Suisse, and the French luxury group LVMH became the first European company to hit a $500bn market value.

Mentioned in this podcast:

Biden prepares to take his case for a second term to American voters

Hunt admits UK business taxes are too high as government pressed on strategy

Credit Suisse suffered $69bn in outflows during first-quarter crisis

LVMH becomes first European company to hit $500bn market value

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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