FT News Briefing

Exciting developments emerge as the White House announces a staggering $600 billion worth of defense and AI deals with Saudi Arabia. UnitedHealth faces turmoil with the surprise resignation of its CEO, sending shares plummeting to a four-year low. Meanwhile, US inflation drops to 2.3%, sparking discussions on economic trends. In the automotive sector, Nissan plans to cut 15% of its workforce and reduce its factories, tackling fierce competition and declining sales. These transformations mark significant changes across multiple industries.

Global stocks are on the rise thanks to a temporary tariff reduction between the US and China. This diplomatic move is expected to ease trade tensions and benefit American businesses. Meanwhile, the EU is gearing up to impose capital controls and tariffs on Russia, intensifying economic pressure. In the tech world, OpenAI and Microsoft are renegotiating their billion-dollar partnership, facing challenges related to funding and competitiveness. These discussions could reshape the landscape of AI and corporate strategies.

US-China trade talks are making headlines, leading to a surge in German stocks. As optimism grows, investors are increasingly looking towards European markets. Disney's surprising financial success is also in focus, particularly as it plans its first theme park in the Middle East. The competition with Netflix intensifies as Disney seeks to boost its streaming services amidst industry challenges. This dynamic landscape hints at shifting investor preferences and the evolving global market.

Join Andrew Jack, the FT's Global Education Editor, and Myles McCormick, Acting Washington Correspondent, as they dissect Trump's ongoing battle against elite universities. Harvard's dramatic funding loss for rejecting federal demands takes the spotlight, along with Columbia's struggle despite compliance. They explore the potential repercussions for more institutions, the Republican Party’s broader campaign against higher education, and the financial implications of these conflicts on student access and innovation.

A pivotal trade deal between the US and UK has been forged, aiming to tackle tariffs and boost economic relations. The Bank of England has also slashed interest rates, raising questions about the economy's direction. In a surprising twist, a previously dismissed FTC commissioner discusses political pressures affecting regulatory independence. Meanwhile, the election of the first American pope adds an unexpected highlight to the mix. Trade negotiations and new regulations for big tech are key points of focus, illustrating the intricate dance of politics and economics.

Tensions rise as Pakistan vows to retaliate following India's airstrikes, spotlighting the frail state of its economy. Meanwhile, the US has canceled a rule restricting AI chip exports, stirring new market dynamics. The Federal Reserve maintains steady interest rates amidst these global upheavals. In the tech world, DoorDash's potential acquisition of Deliveroo raises questions about the future attractiveness of the London Stock Exchange and highlights contrasting investor sentiments between the UK and US in tech listings.

India has conducted precision strikes on nine sites in Pakistan, escalating tensions in South Asia. Meanwhile, Friedrich Merz, Germany's new chancellor, faces a rocky start following a major parliamentary defeat. On the economic front, Argentina is shifting from renowned wine production to a burgeoning copper mining industry, raising concerns among vineyard owners. Additionally, U.S. and China are set to kick off pivotal trade talks, marking a crucial moment amid ongoing trade tensions.

OpenAI decides to remain a non-profit, reaffirming its mission amid scrutiny. U.S. stocks bounce back from turmoil following tariff announcements, driven by a strong labor market. Tensions surround the upcoming Bank of England meeting as interest rates are expected to be cut. Meanwhile, legal challenges loom for Meta, testing the boundaries of AI training with copyrighted material. This courtroom drama could redefine copyright implications for tech companies and authors alike, amid a shifting landscape in AI law.

Warren Buffett's retirement after decades at Berkshire Hathaway is a seismic shift in the investing world. Greg Abel steps up as the new CEO, inheriting a legacy and high expectations. Meanwhile, Chinese exporters are cleverly sidestepping U.S. tariffs by using third countries. In Nigeria, local oil companies are gaining ground as foreign majors exit, driven by the new Petroleum Industry Act. This shift may reinvigorate community relations and the economy in Nigeria. Global trade challenges and investment strategies are also hot topics.

Oren Cass, the executive director of American Compass and a conservative economic policy contributor, joins Edward Luce, US national editor and columnist for the Financial Times. Together, they dive into the contentious topic of tariffs, exploring why some conservatives still support them despite criticism. The discussion touches on the economic repercussions of Trump's trade war, the shifting dynamics of global power, and the uncertainty faced by businesses. They also consider how ongoing tariff policies affect international alliances, particularly with China.