FT News Briefing

Donald Trump and Xi Jinping have agreed to initiate a fresh round of high-level trade talks, signaling a potential thaw in their frosty relations. Meanwhile, Europe faces a surge of steel imports due to redirected shipments from the US amid high tariffs. The podcast also explores the rise of a military leader in Burkina Faso, Traore, who has emerged as an anti-Western symbol, reflecting the complexities of democracy and security in Africa. This dynamic showcases shifting alliances and the broader implications of global trade policies.

Apple's AI rollout in China faces delays due to regulatory issues tied to the trade war. Wells Fargo is eager to rebound after lifting its asset cap, strategizing for growth in a competitive market. In a significant move, Bulgaria has received approval to join the Eurozone by 2026, amidst both optimism for economic stability and protests against the decision. The journey highlights Bulgaria's commitment to European integration, despite challenges and historical controversy surrounding this milestone.

The podcast dives into the unexpected resignation of Dutch Prime Minister Dick Schoof after a coalition collapse. It raises alarms over Mexico's new supreme court, which will be packed with ruling party judges, potentially affecting judicial independence. Listeners learn about Eurozone inflation dipping below the ECB’s target at 1.9%. Additionally, the remarkable comeback story of the Royal Bank of Scotland post-nationalization is explored, alongside South Korea's political upheaval following a significant presidential win amid economic headwinds.

Elon Musk's xAI plans a massive share sale, aiming for a $113 billion valuation while navigating a troubled Chinese property market. Political shifts in Poland create challenges for the prime minister as a nationalist candidate rises to power. The discussion dives into Trump's strategy to privatize Fannie Mae and Freddie Mac, raising concerns about market stability and mortgage rates. As global governance trends evolve, the implications for housing and finance sectors are explored, highlighting the complexities within the industry.

The podcast delves into South Korea’s political landscape following a recent coup, spotlighting the surge of left-wing challenger Lee Jae-myung. It highlights the impact of Trump’s tariffs on private equity dealmaking around the globe. Moreover, it discusses diplomatic ramifications for U.S.-South Korea relations regarding trade and North Korea. Lastly, the decline in UK office construction and potential disruptions from a new U.S. tax policy affecting foreign investment are examined, stirring concerns on Wall Street.

Edward Luce, U.S. national editor and columnist for the Financial Times, teams up with James Politi, the Washington bureau chief, to dissect the curious shift in Republican fiscal policy. They delve into the implications of former President Trump's tax bill, which threatens to balloon the national debt. The conversation highlights intra-party tensions over spending versus budget cuts and explores the historical evolution of fiscal conservatism, leaving listeners pondering the future of U.S. economic policy while enjoying a light-hearted tale about pet ownership.

The legal landscape of Trump's controversial tariffs is in turmoil as the White House challenges court rulings that deem them illegal. A former Goldman Sachs banker receives a two-year sentence linked to the high-profile 1MDB scandal. Additionally, the podcast dives into how Wall Street managed to shed billions in debt from Elon Musk’s Twitter acquisition, showcasing the intertwined nature of business, technology, and political influence in today's economy.

A US court struck down Trump's controversial tariff scheme, while Nvidia celebrates a staggering 70% surge in revenues fueled by AI. Tensions rise as the US decides not to renew Chevron's oil license in Venezuela. The competition heats up between Texas and Nevada, both vying to dethrone Delaware's long-held corporate dominance. This showdown promises to reshape corporate law and influence major companies, sparking discussions on the future of business incorporation in the U.S.

US stocks surged after positive trade news from President Trump, boosting investor sentiment. Meanwhile, McKinsey announced a significant layoff of 10% of its workforce to enhance profitability. Asian currencies also saw gains amid optimism for US trade deals. In a major shift, Rio Tinto is seeking a new CEO after the exit of Jakob Stausholm, focusing on candidates with mining experience. Additionally, Rio Tinto's massive investment in lithium projects highlights its positioning in the electric vehicle market.

The podcast delves into Ukraine’s frantic search for weapons during the Russian invasion, revealing how desperation led to costly fraudulent arms deals. It highlights a notable case where an Arizona ammunition shop failed to meet contract obligations, raising legal challenges. Listeners learn about the chaotic arms procurement landscape as Ukraine attempts to modernize its processes amidst ongoing conflict. The episode further discusses the devastating impact on soldiers, shedding light on the human cost of these failed deals.