FT News Briefing

UK Budget spooks bond markets

Nov 1, 2024

09:20

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Barney Jopson, the Financial Times' Spain and Portugal correspondent, dives into Spain's rapid economic growth, highlighting how it's set to become the world's fastest-growing advanced economy. He discusses the role of foreign investment, immigration, and tourism in this boom. The conversation also touches on the geopolitical tension with North Korea's potential combat support for Russia and its implications for Europe. Jopson provides insight into the lessons Spain's recovery can offer to the struggling Eurozone.

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Quick takeaways

Apple's quarterly revenue growth, driven by strong customer engagement with new AI features, signals potential sustained sales across multiple products.

Spain's expected 2.9% economic growth, fueled by foreign investment and tourism, highlights a recovery despite ongoing challenges like low productivity and high unemployment.

Deep dives

Apple's Positive Outlook on AI

Apple reported a 6% rise in quarterly revenue, highlighting optimism surrounding its new artificial intelligence features. These advancements are expected to enhance sales across various products, including iPhones, laptops, and iPads. The company’s chief financial officer noted that customer engagement with the new software is robust, with downloads occurring at double the rate of last year's updates. This strong reception indicates that Apple’s innovative approach may resonate well with consumers, potentially leading to sustained growth.

Intro

2min

Reactions to the UK Budget and Its Impact on the Gilt Market

2min

Geopolitical Tensions and Spain's Economic Boom

2min

Spain's Economic Recovery and Lessons for the Eurozone

4min

Apple reported solid revenue growth in the past quarter, and investors are worried about the additional borrowing set out in UK chancellor Rachel Reeves’ Budget. The US warned that North Korean troops are expected to enter combat alongside Russia’s army in the coming days, and Spain is set to become the world’s fastest-growing major advanced economy this year.

Mentioned in this podcast:

Apple’s revenue beats Wall Street expectations on higher iPhone sales

UK borrowing costs hit highest level this year after Budget

Ukraine and US warn Kyiv’s troops could face North Korean forces ‘in days’

Spanish growth soars as Eurozone stumbles

The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. 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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