Tesla on Wednesday reported its first-ever fall in annual revenue, Donald Trump has warned Iran that “time is running out” to reach a deal to avert US military action, and the Federal Reserve kept interest rates on hold. Plus, the world’s biggest mining companies have added close to half a trillion dollars to their valuations this year, triggered by heightened geopolitical tensions.

Mentioned in this podcast:

Tesla trims car line up in pivot to AI as annual revenue falls for first time

Federal Reserve signals no rush to cut interest rates as US economy powers ahead

Trump warns Iran ‘time is running out’ for deal to avert US military action

Metals surge boosts value of mining groups by almost $500bn

Note: The FT does not use generative AI to voice its podcasts

Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Fiona Symon, Victoria Craig and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley 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

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Episode 44: "Y'all Wanna Hear Something Crazy" - Ms Pat