FT News Briefing

Barbara Perry, a professor of presidential studies at the University of Virginia, dives into the ramifications of Trump’s Supreme Court appointments. She discusses pivotal rulings on abortion rights and affirmative action, examining their long-term impacts ahead of the 2024 election. The conversation highlights the tension between the court's conservative decisions and public sentiment, particularly regarding presidential immunity. Perry also touches on how sports narratives, like those of the U.S. soccer teams, might intertwine with political aspirations.

U.S. inflation has surprisingly dropped to 3%, impacting future Federal Reserve decisions. Meanwhile, Chinese leaders are gearing up to tackle economic challenges. The conversation also dives into the risks associated with deregulation, particularly after a Supreme Court ruling that shifts regulatory power to the judiciary. This change may spell trouble for businesses navigating a new legal landscape, raising concerns about the influence of judicial appointments on regulatory legitimacy.

Bill Hwang, the Archegos founder, is found guilty of fraud, raising eyebrows on Wall Street. As bankruptcy filings rise, investors are shunning risky junk bonds. Women’s tennis is gaining traction with substantial investments from Saudi Arabia, but faces branding hurdles and the absence of a major star. Meanwhile, Amazon is adapting by emulating Chinese models, introducing ultra-low-cost goods and aiming to counter rivals like Temu and Shein, who are shaking up the e-commerce landscape.

A missile strike in Kyiv reveals reliance on Western technology, raising geopolitical concerns. Investment banking shows signs of recovery despite economic hurdles. Fast fashion giant Shein is injecting €200 million to combat fashion waste while awaiting IPO approval. In Iran, newly elected president Masoud Pezeshkian may steer the nation toward reform, easing social restrictions and improving ties with the West, amidst internal resistance and economic challenges.

NATO leaders gather for a critical summit, navigating domestic pressures and pledging support for Ukraine. Europe's battery industry feels the pinch from a faltering EV market and rising Chinese competition. Meanwhile, Nike faces turmoil with its stock plummeting due to a banned basketball shoe and waning consumer interest in iconic Air Jordans. The discussion highlights shifting dynamics within global politics and market landscapes, emphasizing the complexities confronting both alliances and major brands.

France witnesses a remarkable left-wing political shift, successfully uniting against the far-right. Meanwhile, Labour's election triumph boosts UK market confidence, sparking discussions on potential economic reforms. On the international front, a Chinese province close to Taiwan struggles to attract businesses, despite aspirations for closer ties. Tensions rise as Taiwanese investments in China plummet, reflecting growing concerns and cautious investor attitudes. Lastly, the world is on track for record warmth, with ocean temperatures at their highest for 15 consecutive months.

Explore the Labour Party's remarkable victory that ends 14 years of Conservative rule in the UK. Delve into the rise of Reform UK, which has made significant inroads by capitalizing on anti-immigration sentiment. Discover the shifting political landscape as former Conservative voters turn to Reform, creating turbulence for the established party. Additionally, learn about Viktor Orbán's upcoming discussions with Vladimir Putin regarding peace in Ukraine, signaling intriguing diplomatic dynamics in Europe.

SoftBank shifts its focus from share buybacks to AI investments amid market pressures. Shell pauses a major biofuels project due to industry challenges. YouTube is negotiating with record labels about AI-generated music, exploring how these innovations could reshape the industry. The discussion delves into concerns about copyright issues and emotional connections between listeners and human artists, amidst the rise of AI in music creation.

The EU plans to impose duties on substandard Chinese goods, impacting international trade dynamics. Denmark is pioneering a carbon tax on livestock to reduce methane emissions, charging farmers €100 per cow. Meanwhile, Panama's president vows to close the Darién Gap, a notorious route for migrants. On the political front, Joe Biden faces pressure regarding his fitness for re-election, reflecting broader concerns about immigration and environmental policies in the U.S. and Europe.

The US Supreme Court has ruled that Donald Trump is immune from prosecution for his official actions, raising questions about accountability for future presidents. Meanwhile, Amazon celebrates its first international profit in years, while China's workforce cuts signal a retreat for global banks. In Japan, regional banks are facing tough challenges due to population decline and changing demographics, prompting discussions on their future strategies and the broader economic implications.