FT News Briefing

Claire Jones, U.S. economics editor at the Financial Times, dives into the Federal Reserve's recent rate cut and the halt in quantitative tightening amidst a wavering labor market. She highlights the implications of these moves on the economy, particularly the uncertainty surrounding future policy decisions. Kieran Smith, Telecoms correspondent, discusses the end of an era as John Malone steps down from his media empire, detailing his legacy that transformed the telecom landscape and why he's considered a relic of bygone business practices.

Melissa Haikala, FT AI correspondent, details OpenAI's new for-profit structure aimed at enhancing fundraising and ensuring mission accountability. She highlights Microsoft's significant stake and its implications for AI development. William Sandland, FT Asia markets correspondent, reveals the surge in South Korea's stock market, driven by strong demand in the chip sector, particularly for companies like SK Hynix and Samsung. He also discusses investments in defense and shipbuilding, forecasting potential boosts from foreign inflows.

Kira Nugent, Argentina correspondent for the Financial Times, shares insights on the economic impact of President Javier Milei's recent electoral victory. She discusses the surge in Argentina’s currency and bonds alongside investor optimism for pro-market reforms. Tim Bradshaw, global technology correspondent, dives into Apple’s services growth, detailing how its revenue topped $100 billion and what drives this value. He also addresses potential regulatory challenges facing the App Store and how they might affect Apple's ecosystem.

James Politi, Washington bureau chief for the Financial Times, and Miles McCormick, US economics correspondent, dive into the high-stakes meeting between Trump and Xi. Politi discusses the significance of the emerging U.S.-China framework, highlighting key trade elements. McCormick sheds light on rising inflation and how the softening labor market is influencing Federal Reserve policies. The conversation also touches on the potential challenges in sustaining a U.S.-China truce and the complexities facing the Fed amid economic uncertainty.

In this compelling discussion, Sylvia and her daughter Lily unveil their harrowing experience with animal deaths linked to suspected lead poisoning on their West Wales farm. They reveal shocking health impacts and the dark history of a nearby disused lead mine. Dr. Andrea Sartorius, an ecotoxicologist, shares her groundbreaking research uncovering elevated lead levels in soil and water, stressing the potential dangers to surrounding communities. Together, they shine a light on a silent epidemic and the urgent need for awareness and action.

Jamie Smith, FT U.S. Energy Editor, discusses the ramifications of Trump's sanctions on Russian oil, revealing how lower crude prices influenced this bold move. He highlights the potential disruptions to global markets, particularly if India and China reduce their Russian oil purchases. Meanwhile, Kira Nugent, FT correspondent in Buenos Aires, delves into Javier Milei's controversial economic reforms and their impact on Argentina's midterm elections. Voter sentiment swings as support ebbs for Milei amid concerns for the middle class.

Tesla's quarterly profits plummeted by nearly 30% due to factors like AI pivot and lost tax credits. Sequoia Capital is reeling from an Islamophobic comment made by partner Shaun Maguire, leading to the resignation of COO Sumaya Babale. Meanwhile, UK inflation surprisingly remained steady at 3.8%, impacting future rate decisions. In the U.S., the administration has been accused of suppressing climate change data, raising concerns over weather forecasting and agricultural impacts globally.

A recent tax dispute has hit Netflix's profits hard, sparking discussions on corporate earnings. Unilever faces delays due to the U.S. government shutdown, affecting its €15bn ice cream division. Gold faced its worst sell-off in over a decade, plunging 6%. Meanwhile, South Africa grapples with the effectiveness of Black empowerment policies, with critics arguing they have led to elite capture rather than broad economic growth. Calls for reform grow as the nation seeks to better support Black entrepreneurship in a struggling economy.

European leaders are uniting to support Ukraine, with discussions on utilizing frozen Russian assets for vital loans. In Japan, a groundbreaking coalition deal positions Sanae Takaichi to potentially become the first female prime minister. Meanwhile, a major outage at Amazon Web Services has highlighted our reliance on cloud technology. Marc Rowan, CEO of Apollo Global Management, criticizes the conflicting regulatory environment in Europe, stating it's in a state of internal conflict over financial reform.

A dramatic meeting in the White House sees Trump urging Ukraine to accept Russia's terms amidst the ongoing war. Meanwhile, China’s five-year plans emerge as a surprising constant in its shifting political landscape, ensuring stability despite heavy criticism. Global hedge funds make a comeback in Hong Kong listings, signaling renewed market confidence. Additionally, a surge in rare earth metal stocks highlights the intense competition between the U.S. and China over crucial resources, with significant implications for future investments.