FT News Briefing

In this compelling discussion, Sylvia and her daughter Lily unveil their harrowing experience with animal deaths linked to suspected lead poisoning on their West Wales farm. They reveal shocking health impacts and the dark history of a nearby disused lead mine. Dr. Andrea Sartorius, an ecotoxicologist, shares her groundbreaking research uncovering elevated lead levels in soil and water, stressing the potential dangers to surrounding communities. Together, they shine a light on a silent epidemic and the urgent need for awareness and action.

Jamie Smith, FT U.S. Energy Editor, discusses the ramifications of Trump's sanctions on Russian oil, revealing how lower crude prices influenced this bold move. He highlights the potential disruptions to global markets, particularly if India and China reduce their Russian oil purchases. Meanwhile, Kira Nugent, FT correspondent in Buenos Aires, delves into Javier Milei's controversial economic reforms and their impact on Argentina's midterm elections. Voter sentiment swings as support ebbs for Milei amid concerns for the middle class.

Tesla's quarterly profits plummeted by nearly 30% due to factors like AI pivot and lost tax credits. Sequoia Capital is reeling from an Islamophobic comment made by partner Shaun Maguire, leading to the resignation of COO Sumaya Babale. Meanwhile, UK inflation surprisingly remained steady at 3.8%, impacting future rate decisions. In the U.S., the administration has been accused of suppressing climate change data, raising concerns over weather forecasting and agricultural impacts globally.

A recent tax dispute has hit Netflix's profits hard, sparking discussions on corporate earnings. Unilever faces delays due to the U.S. government shutdown, affecting its €15bn ice cream division. Gold faced its worst sell-off in over a decade, plunging 6%. Meanwhile, South Africa grapples with the effectiveness of Black empowerment policies, with critics arguing they have led to elite capture rather than broad economic growth. Calls for reform grow as the nation seeks to better support Black entrepreneurship in a struggling economy.

European leaders are uniting to support Ukraine, with discussions on utilizing frozen Russian assets for vital loans. In Japan, a groundbreaking coalition deal positions Sanae Takaichi to potentially become the first female prime minister. Meanwhile, a major outage at Amazon Web Services has highlighted our reliance on cloud technology. Marc Rowan, CEO of Apollo Global Management, criticizes the conflicting regulatory environment in Europe, stating it's in a state of internal conflict over financial reform.

A dramatic meeting in the White House sees Trump urging Ukraine to accept Russia's terms amidst the ongoing war. Meanwhile, China’s five-year plans emerge as a surprising constant in its shifting political landscape, ensuring stability despite heavy criticism. Global hedge funds make a comeback in Hong Kong listings, signaling renewed market confidence. Additionally, a surge in rare earth metal stocks highlights the intense competition between the U.S. and China over crucial resources, with significant implications for future investments.

US regional banks are feeling the heat after fraud disclosures trigger a drop in shares. Meanwhile, the UK economy shows only a slight growth of 0.1% in August, facing structural hurdles. On the flip side, Japan is grappling with matcha mania, struggling to meet skyrocketing global demand. With tourists flocking to experience premium matcha, producers are converting fields and looking for mechanization to boost supply. However, aging farmers and potential competition from China could complicate long-term production.

Investors are retreating from risky corporate bonds, fearing the end of a credit rally. The IMF has raised alarms about the soaring U.S. debt and urged the UK to maintain transparency in economic forecasts. In China, persistent deflation raises concerns for economic growth. Meanwhile, Turkey is undergoing a significant anti-corruption crackdown that affects hundreds of companies. This move could reinforce political power but also throws the business landscape into uncertainty.

The leaders of Goldman Sachs, JPMorgan Chase and Citi warned that investor exuberance risked driving financial markets into bubble territory, and US investors are hunting for private data as the federal government shutdown is blocking the release of crucial reports. Plus, silver hit a record on Tuesday, and investors are facing a growing concern that European defence start-ups are oversaturating the market. Mentioned in this podcast:Banks caution over bubble as they report bumper profitsUS government shutdown leaves traders ‘flying blind’ on jobs dataSilver price hits record amid scramble in London marketInvestors confront top of European defence start-up ‘hype cycle’Today’s FT News Briefing was produced by Ethan Plotkin, Fiona Symon, Sonja Hutson, and Marc Filippino. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann and Michael Lello. 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 Hosted on Acast. See acast.com/privacy for more information.

US stock markets showed positive momentum following a softening of Trump's China tariff rhetoric. The Netherlands has taken control of a Chinese-owned semiconductor firm, Nexperia, citing national security concerns amid geopolitical tensions. Meanwhile, European IPO markets are witnessing a revival, with cautious optimism about future listings. The recent Nobel Prize in Economics awarded for research on innovation-driven growth ties into the discussions of economic trends and market dynamics.