FT News Briefing

Ewan Healy, a corporate debt reporter at the FT, explores the mounting financial strain on Ineos, the major player in the chemicals sector, discussing its enormous debt and pressures from cheap imports and high energy costs. Meanwhile, Sonia Hudson, an FT reporter focusing on immigration and local issues, previews her new Bethlehem Project series, highlighting a local immigration raid's divisive impact on the community and the broader implications for US politics. Together, they tackle pressing economic and social challenges.

Simeon Kerr, FT Scotland correspondent, shares insights on Scotland's inaugural bond issuance, nicknamed 'kilts', which has received an investment-grade credit rating matching the UK's. He discusses the political implications of this move for Scottish independence and the investor appetite for these bonds. Meanwhile, Owen Walker, FT Singapore correspondent, explains why wealthy Chinese families are gravitating towards Dubai and Abu Dhabi for family offices, citing stricter regulations in Singapore and appealing residency options in the Gulf.

John Foley, head of the Financial Times' Lex column, breaks down SoftBank's $5.8 billion sale of its Nvidia stake, suggesting it might be beneficial for Nvidia in the long run, especially amidst investor jitters about AI spending. Meanwhile, Amy Kasman, Rome correspondent, dives into Italian Prime Minister Giorgia Meloni's controversial income tax cut, which critics argue disproportionately favors the wealthy. The podcast also touches on the rising concerns surrounding global oil demand and the sell-off of tech debt.

Daniel Thomas, FT's global media editor, shares insights on the ongoing BBC controversy, including staff resignations and pressures on the broadcaster. David Pilling, FT's Africa editor, discusses the monumental $23 billion iron ore mining project in Guinea, highlighting its importance for China's expansion. The project not only increases global iron ore supply but also shifts pricing power toward China, potentially lowering prices. Their conversation unpacks the broader implications for global markets and geopolitics.

The US Senate takes the first step to ending the government shutdown, and COP30 climate talks kick off in Brazil. Plus, stricter regulation puts the squeeze on Switzerland’s prized finance sector. And, can Indian Prime Minister Narendra Modi’s push to counter US tariffs help Zoho truly rival Whatsapp?Mentioned in this podcast:US senators strike deal in first step to ending government shutdownThe world is struggling to halt climate change. But can it adapt?Swiss finance shrinks as regulators tighten grip on prized sector India boosts homegrown WhatsApp rival in tech nationalism driveThe 900-page book that China watchers count onToday’s FT News Briefing was produced by Nisha Patel, Sonja Hutson and Victoria Craig. Our show was mixed by Alexander Higgins. Additional help from Peter Barber. 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.

Henry Foy, the Brussels bureau chief at the Financial Times, discusses Hungary's Prime Minister Orbán's quest for a US exemption from Russian oil sanctions. He highlights Orbán's political strategy and potential fallout if Trump rejects his plea, including risks of oil shortages and inflation. Katie Martin shares insights on the UK bond markets, explaining why they remain stable despite impending tax increases from Chancellor Reeves, suggesting investors are bracing for the financial shifts ahead.

In this discussion, Stefania Palma, U.S. legal correspondent for the Financial Times, shares insights on the Supreme Court's skepticism towards Trump's use of emergency tariffs. She highlights controversy surrounding the constitutional implications and potential economic fallout. Sujit Indap, Wall Street editor, delves into the dramatic First Brands bankruptcy, revealing shocking allegations of fraud and over $2 billion missing. He explains the competitive strategies creditors will employ as they navigate the unfolding financial turmoil.

Arjun Neil-Allam, the Asian financial correspondent for the Financial Times, sheds light on the growing fears of an AI bubble in Asian markets influenced by US trends. He discusses how a few AI stocks are propping up index gains and warns of potential ripple effects on Asian suppliers if US markets correct. Simon Foy, the European banking correspondent, reveals that UniCredit's ambitions to expand are stifled by political opposition in Germany and Italy, urging better stakeholder engagement for future M&A attempts.

Joining the discussion are Oliver Barnes, an FT U.S. deals correspondent, and Claire Jones, FT U.S. economics editor. They dive into Pfizer's fierce legal battle against Novo Nordisk over the MetSera bidding war, exploring its potential implications on weight-loss drug innovation. Claire sheds light on U.S. policy discussions regarding global dollar adoption, detailing candidate countries and the challenges they face. Both guests provide keen insights into the intersection of healthcare and economic policy in today's market.

Lauren Fedor, Deputy Bureau Chief at the Financial Times, brings her insights on the political landscape as voters approach pivotal state elections that may reflect on Trump's economic policy. She dives into how candidates in New Jersey frame economic issues amidst inflation concerns and the tight gubernatorial race. The conversation also reveals potential challenges for private equity firms facing a wave of 'zombie' investments. Additionally, Fedor explores how these local contests could reshape midterm strategies and voter sentiment.