FT News Briefing

OpenAI decides to remain a non-profit, reaffirming its mission amid scrutiny. U.S. stocks bounce back from turmoil following tariff announcements, driven by a strong labor market. Tensions surround the upcoming Bank of England meeting as interest rates are expected to be cut. Meanwhile, legal challenges loom for Meta, testing the boundaries of AI training with copyrighted material. This courtroom drama could redefine copyright implications for tech companies and authors alike, amid a shifting landscape in AI law.

Warren Buffett's retirement after decades at Berkshire Hathaway is a seismic shift in the investing world. Greg Abel steps up as the new CEO, inheriting a legacy and high expectations. Meanwhile, Chinese exporters are cleverly sidestepping U.S. tariffs by using third countries. In Nigeria, local oil companies are gaining ground as foreign majors exit, driven by the new Petroleum Industry Act. This shift may reinvigorate community relations and the economy in Nigeria. Global trade challenges and investment strategies are also hot topics.

Oren Cass, the executive director of American Compass and a conservative economic policy contributor, joins Edward Luce, US national editor and columnist for the Financial Times. Together, they dive into the contentious topic of tariffs, exploring why some conservatives still support them despite criticism. The discussion touches on the economic repercussions of Trump's trade war, the shifting dynamics of global power, and the uncertainty faced by businesses. They also consider how ongoing tariff policies affect international alliances, particularly with China.

Amazon faces challenges from Trump's trade war with weaker forecasts. As Australians prepare to vote, they grapple with inflation and a rising cost of living. The political landscape shows Labor gaining traction amid international tensions. European banks thrive from market volatility, an unexpected boost. Voter sentiments reflect concern over coal dependence versus renewable energy ambitions, showcasing a nation at a crossroads.

Microsoft's earnings surprise analysts as demand for cloud services booms. Meanwhile, the U.S. economy shows signs of contraction, raising questions about the impact of tariffs. Spain grapples with a massive power outage, affecting daily life and sparking investigations into its causes amid rising renewable energy usage. As England prepares for local elections, the Conservatives brace for potential losses in a competitive political landscape. Tune in for insights on economics, energy, and the shifting tides of political power!

Donald Trump announced tariff relief for carmakers, boosting shares in Japan after Toyota's plan to privatize a subsidiary captured attention. Wall Street economists forecasted a U.S. GDP shrinkage, raising questions about economic stability. Meanwhile, Generation Z is surprisingly embracing in-office work, defying stereotypes about remote preferences. The podcast dives into how these trends could signal a significant corporate shift in Japan, potentially leading to a more shareholder-friendly market. It's an intriguing mix of economics, corporate strategy, and generational insights.

The oil industry is bracing for a challenging year, facing declining profits and shifting market dynamics. Spain and Portugal struggle with a massive power outage that's affecting renewable energy efforts. Meanwhile, the surge in the Swiss franc poses complications for the central bank, raising concerns about possible negative interest rates. Amid these events, major oil companies are recalibrating their strategies to navigate the economic turbulence and upcoming earnings reports.

Canadians are gearing up to vote for a new prime minister amidst politically charged discussions. Meanwhile, a controversial U.S. proposal could see Russia maintaining some territory in Ukraine, complicating peace talks. The podcast also dives into the fallout from a deadly airstrike in Kyiv, which has stalled negotiations further. Additionally, American companies express growing concerns over tariffs and a potential recession as they adjust their earnings forecasts amid changing consumer spending patterns.

John McHenry, VP of North Star Opinion Research, offers insights on Republican voter sentiments, while FT's economics editor Sam Fleming examines Trump's fluctuating tariffs. They discuss the political fallout of Trump's trade strategies and the GOP's balancing act with rising economic concerns. With Trump's assurance not to fire Fed chair Powell despite earlier criticisms, both guests explore how these moves might affect midterm elections and the broader economic landscape, revealing intricate connections between policy and public perception.

Apple is shifting its iPhone assembly to India, responding to U.S. tariffs that are crippling Chinese factories. Manufacturing slowdowns in China are leading to worker furloughs and order cancellations. Meanwhile, Alphabet's profits soar by 46%, showing resilience amid economic challenges. The Trump administration's push to eliminate paper cheques raises questions about payment methods in the U.S., balancing the convenience of digital payments with traditional practices.