FT News Briefing

The surprising surge of the Mexican peso is linked to renewed carry trading, countering fears from U.S. tariffs. Insights reveal how evolving U.S.-Mexico relations may reshape economic ties. Additionally, tensions in Taiwan are highlighted, focusing on resistance against pro-China sentiments and the fallout from a failed recall vote. The podcast dives into the complexities of Taiwan's political landscape, revealing struggles for internal unity amidst external pressures from China.

UK employers are cutting back on hiring due to labor and tax concerns. A looming meeting between Trump and Putin raises fears in Ukraine about potential land swaps. Meanwhile, European allies voice their worries over the stability of Ukraine’s borders. In the tech world, India's IT sector faces challenges posed by AI automation, prompting companies to invest in re-skilling and innovation. India's aspirations in the AI race highlight its potential but also reveal significant R&D investment gaps.

Donald Trump nominates Stephen Miran to the Federal Reserve Board, stirring interest amidst economic shifts. The Bank of England cuts rates after a divided vote, reflecting internal conflicts over rising inflation and a struggling economy. Meanwhile, European arms factories are ramping up production in response to geopolitical tensions. In tech news, Trump threatens hefty tariffs on semiconductors, specifically targeting chips but leaving Apple exempt, highlighting the complexities of U.S. manufacturing and global supply chains.

European companies are struggling to keep up with U.S. rivals as CoreWeave's $9 billion deal to acquire Core Scientific runs into major shareholder pushback. The podcast also discusses a controversial Boston Consulting Group proposal to relocate Gazans to Somalia and revealing a covert visit by Iranian nuclear scientists to Russia. Additionally, it explores the potential impacts of U.S. tariffs on European markets and the broader implications of these developments in the geopolitical landscape.

US President Trump is preparing new sanctions against Russia to pressure a ceasefire in Ukraine. Meanwhile, Palantir's soaring stock raises eyebrows about its true value and sustainability. OpenAI has launched new models to compete with Chinese AI, while Russian banks are grappling with bad loans amid rising inflation. The podcast dives into Palantir's impressive growth rate and the question of whether its valuation is a bubble waiting to burst, alongside the challenges faced by Russia's banking system.

Tensions are rising as the U.S. considers increasing tariffs on India linked to Russian oil purchases. Meanwhile, Deutsche Bank's CEO faces scrutiny over a controversial trade. Australia is keen to reclaim a strategically important port from China, highlighting complex geopolitics. In a surprising move, Tesla’s board has awarded Elon Musk a whopping $30 billion in shares to ensure his commitment to the company amidst threats of resignation.

Investors are reacting to unsettling U.S. economic data, fearing a slowdown that could impact luxury brands. Germany's largest sports retailer is weighing the benefits of moving production to China amid evolving tariffs. Meanwhile, tensions rise as President Trump targets Brazil's judiciary with tariffs, igniting political intrigue. Additionally, luxury brands face challenges as consumer spending dips, particularly due to decreased tourist activity in Europe and Japan.

Adam Posen, President of the Peterson Institute for International Economics, and Claire Jones, The FT's U.S. economics editor, dive into the rising tensions between Trump and Fed Chair Jay Powell regarding interest rates. They discuss the implications of Trump's attempts to influence the Fed and the significance of preserving central bank independence. The conversation also touches on how these political maneuvers could affect economic growth and the upcoming midterms for the Democrats.

Apple's revenues soar thanks to a strong iPhone performance in China amidst rising tariffs reimposed by Donald Trump on several trading partners. Samsung makes waves with a massive chipmaking deal with Tesla, potentially shifting the semiconductor landscape. The conversation also highlights Ukraine's decision to restore independence to its anti-corruption agencies, a significant move in its governance. This podcast deftly navigates the intertwined fates of technology and global trade.

Meta’s stock surged over 10% after a strong earnings report, boosting investor confidence. Meanwhile, the Federal Reserve decided to hold interest rates steady, defying calls from Donald Trump for lower rates. In contrast, U.S. copper prices dropped following Trump’s tariff exemptions on refined materials. HSBC reported a staggering 29% decline in profits, impacted by restructuring and losses linked to its Hong Kong operations. The discussion highlights the turbulent economic landscape and the bank's strategy shift towards Asia and affluent clients.