UK pension funds are cutting back their exposure to US equities, and Swiss prosecutors have filed charges against Credit Suisse and its owner UBS over alleged organisational “deficiencies”. Plus, the chair of the UK's Office for Budget Responsibility has resigned, and the UK government will increase NHS spending on medicines to secure a carve-out from threatened US tariffs.

Mentioned in this podcast:

UK pension funds dump US equities on fears of AI bubble

Swiss prosecutors file charges against Credit Suisse and UBS

Head of UK fiscal watchdog quits after Budget leak

NHS to increase medicines spending to avoid threatened Trump tariffs

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

Today’s FT News Briefing was hosted by Sonja Hutson, and produced by Fiona Symon. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann, Michael Lello and David da Silva. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music.

Read a transcript of this episode on FT.com

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La marée est basse (The tide is out)