FT News Briefing

Tensions are rising as the U.S. considers increasing tariffs on India linked to Russian oil purchases. Meanwhile, Deutsche Bank's CEO faces scrutiny over a controversial trade. Australia is keen to reclaim a strategically important port from China, highlighting complex geopolitics. In a surprising move, Tesla’s board has awarded Elon Musk a whopping $30 billion in shares to ensure his commitment to the company amidst threats of resignation.

Investors are reacting to unsettling U.S. economic data, fearing a slowdown that could impact luxury brands. Germany's largest sports retailer is weighing the benefits of moving production to China amid evolving tariffs. Meanwhile, tensions rise as President Trump targets Brazil's judiciary with tariffs, igniting political intrigue. Additionally, luxury brands face challenges as consumer spending dips, particularly due to decreased tourist activity in Europe and Japan.

Adam Posen, President of the Peterson Institute for International Economics, and Claire Jones, The FT's U.S. economics editor, dive into the rising tensions between Trump and Fed Chair Jay Powell regarding interest rates. They discuss the implications of Trump's attempts to influence the Fed and the significance of preserving central bank independence. The conversation also touches on how these political maneuvers could affect economic growth and the upcoming midterms for the Democrats.

Apple's revenues soar thanks to a strong iPhone performance in China amidst rising tariffs reimposed by Donald Trump on several trading partners. Samsung makes waves with a massive chipmaking deal with Tesla, potentially shifting the semiconductor landscape. The conversation also highlights Ukraine's decision to restore independence to its anti-corruption agencies, a significant move in its governance. This podcast deftly navigates the intertwined fates of technology and global trade.

Meta’s stock surged over 10% after a strong earnings report, boosting investor confidence. Meanwhile, the Federal Reserve decided to hold interest rates steady, defying calls from Donald Trump for lower rates. In contrast, U.S. copper prices dropped following Trump’s tariff exemptions on refined materials. HSBC reported a staggering 29% decline in profits, impacted by restructuring and losses linked to its Hong Kong operations. The discussion highlights the turbulent economic landscape and the bank's strategy shift towards Asia and affluent clients.

Concerns are mounting over a potential famine in Gaza as a UN report highlights severe starvation issues. Meanwhile, U.S.-China trade negotiations teeter on the brink, relying on presidential approval. China's AI expo showcases its vision as a counter to America's technological dominance. On the economic front, the IMF reveals that a declining dollar could soften the blow of the trade war, hinting at a glimmer of hope for global growth amidst these challenges.

The clash between the UK’s economic leaders over a fintech meeting reveals deep rifts in strategy. EU politicians express displeasure over a new trade deal with the US, worrying about its ambiguous terms and potential harm to their economies. Meanwhile, the US economy continues to thrive despite initial pessimism following Trump’s policies, raising questions about longevity. Additionally, Bain & Co faces backlash as it shuts down its South Africa consulting business due to a corruption scandal, highlighting the challenges in navigating global business ethics.

The recent U.S.-EU trade deal aims to limit tariffs while public companies are diving into cryptocurrencies to boost their market profiles. In a surprising twist, the share of goods in UK exports has hit a record low. Amidst this, China is stepping up its game at the United Nations, taking advantage of a power vacuum left by the U.S. Their strategic moves and financial contributions are reshaping international alliances. Plus, the investigation into the Shaolin Temple's Abbot over financial misconduct adds an intriguing layer to China's evolving role on the global stage.

US President Donald Trump's upcoming visit to the UK raises questions about steel tariff negotiations. Meanwhile, stocks for Krispy Kreme and GoPro surge as they become meme favorites. The European Central Bank holds interest rates steady at 2%, while concerns about AI's impact on job prospects for new graduates grow. The rise of retail investors shifts market dynamics, complicating traditional valuations. The landscape for entry-level jobs is changing, especially in developed countries, highlighting a future workforce challenge.

Tesla's profits have dipped 23%, raising concerns about the electric vehicle market. Private equity firms resort to controversial tactics to recoup client investments. Meanwhile, McKinsey pulls back on generative AI projects in China amid geopolitical tensions. In Taiwan, a recall election could significantly shift the political landscape, especially for the KMT party, as public discontent grows and fears of aligning too closely with China rise. These developments reflect a complex interplay of finance and politics.