FT News Briefing

The UK plans to introduce a lighter regulatory regime for private equity and hedge funds, and Italy may block an EU plan to respond to US President Donald Trump’s tariffs. Plus, popular ‘private browsing’ apps hosted by Apple and Google may violate American sanctions, and the trade war has triggered the biggest sell-off in the US junk bond market since 2020. Mentioned in this podcast:Apple and Google app stores host VPNs linked to sanctions-hit Chinese groupBritain to dilute rules for private equity and hedge fundsMeloni under pressure to back EU ‘bazooka’ against Trump tariffsTariffs spark US junk bond sell-off as recession risk mountsThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Ed Luce, the U.S. national editor and columnist for the Financial Times, dives into the implications of Trump's latest tariffs. He argues that these measures risk isolating the U.S. from the globalized economic system it helped establish. Luce explores the perplexing nature of these tariffs, suggesting they could lead to increased prices and inflation domestically. The conversation also highlights how these policies are reshaping international alliances and may provoke retaliatory actions from trade partners.

President Trump's tariffs have sent global markets into a tailspin, leaving investors anxious about a possible recession. Financial sectors and exporters are feeling the brunt of this economic shift. The U.S. dollar is weakening while the euro strengthens, reflecting changing market sentiments. With concerns about retaliatory actions from other countries, major companies are seeing stock prices decline. Furthermore, these tariffs might heighten manufacturing costs and hurt consumer demand, complicating the inflation landscape.

In this discussion, President Trump's new tariffs send shockwaves through global trade, with significant effects on Tesla's stock. Despite recent delivery setbacks, Tesla's share price soars amid speculation about Elon Musk's departure from a government role. Meanwhile, French far-right leader Marine Le Pen faces a five-year ban from elections, raising questions about her political fate and the future of her party. The intersection of law and politics creates a tense atmosphere as legal challenges unfold in France.

Venture capital powerhouse Andreessen Horowitz is eyeing TikTok, potentially reshaping its future amidst trade tensions. Trump’s impending tariffs, the highest in decades, create a whirlwind of market uncertainty. Wall Street anxiously awaits the economic consequences of these policies. On another front, European inflation has dipped for the second consecutive month, while Syria's White Helmets have returned to Damascus, marking a critical step in the nation’s recovery from civil conflict.

Elon Musk's significant financial backing reshapes a Wisconsin Supreme Court race, stirring debates about the influence of billionaires in local politics. The clash between a seasoned liberal and a conservative former AG foregrounds voter sentiments. Meanwhile, Lebanon faces a financial crisis with a controversial new central bank governor, raising questions about necessary reforms. The podcast also discusses Lebanon's tensions over the IMF's involvement, exploring strategies to limit its influence while ensuring depositor compensations are met.

Investors express concerns about rising bond yields in Germany impacting defense spending across the EU. Meanwhile, CoreWeave's IPO, the largest in 18 months, experiences a lukewarm market response due to worries over its ties to NVIDIA and debt levels. The podcast also sheds light on a cash crisis in Gaza, where a black market has emerged amidst high transaction fees. Lastly, it touches on a successful rocket launch attempt from a European startup, illustrating the challenges and achievements in the region's space endeavors.

James Politi, Washington Bureau Chief for the Financial Times, and Guy Chazan, U.S. politics and society correspondent, dive into the potential consequences of proposed Medicaid cuts amid budget negotiations. They discuss how these cuts could alienate MAGA supporters who rely on this essential service. With insights on the fracturing Republican unity, they highlight the looming showdown between fiscal conservatives and those advocating for social welfare. Personal stories from affected voters illustrate the real-world stakes of political decisions.

US President Donald Trump’s auto tariffs hit carmaker shares and Chinese financial authorities have told some companies they can start launching mainland initial public offerings. Plus, protesters in Turkey are worried about the future of their democracy. Mentioned in this podcast:China opens path to revival in A-share listingsDonald Trump’s tariffs throw car industry into turmoilTurkish protesters rise up against Recep Tayyip ErdoğanThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Katie McMurran, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

The U.S. is set to impose a hefty 25% tariff on foreign-made autos, shaking up the automotive industry. Meanwhile, Piyush Gupta is stepping down as CEO of Singapore’s DBS Bank, after a remarkable 16-year tenure. UK inflation has unexpectedly dropped to 2.8%, providing a glimmer of hope in economic challenges. On a high note, Rolls-Royce has experienced a substantial rise in share prices, largely thanks to strategic leadership from its new CEO, who has implemented transformative changes to revitalize the company.