FT News Briefing

UK Prime Minister Rishi Sunak faces a challenge after a Supreme Court ruling deemed the plan to deport asylum seekers to Rwanda illegal. He's now pushing for emergency legislation to affirm Rwanda’s safety as a third country. Meanwhile, Denmark steps into the spotlight with plans to enforce the EU's price cap on Russian oil, highlighting the ongoing geopolitical economic tensions. This development could have significant implications for Russia and Western economies.

Biden and Xi Jinping's summit casts light on fraught U.S.-China relations. Key discussions include managing military communications and concerns over Taiwan. Meanwhile, U.S. inflation has surprisingly dropped to 3.2%, boosting stocks and bonds. The podcast also reveals the impact of the Ukraine war, leading to a labor shortage in Russia, particularly in the tech sector. On a brighter note, AI advancements are now outperforming traditional methods in weather forecasting, indicating a shift in technological capabilities.

A sudden ban on short selling in South Korea is stirring controversy among global investment banks. Rishi Sunak’s shock announcement of David Cameron’s return as Foreign Secretary has sent ripples through UK politics. Meanwhile, Hollywood is bouncing back with a new labor deal that empowers actors and writers, addressing critical issues like AI protections. The entertainment industry faces scrutiny over budget cuts at major studios, raising concerns about content quality and job security.

A major cyber attack on China’s biggest bank has caused disruptions in the U.S. Treasury market, leading to heightened market anxiety. Experts discuss the ramifications of this ransomware incident and its ties to global financial stability. Meanwhile, the UK’s Takeover Panel faces its first deficit in nearly a decade, coinciding with fluctuating oil prices amidst geopolitical tensions. Additionally, Iceland is on high alert, declaring a state of emergency as it braces for a possible volcanic eruption.

Amanda Chu, the FT's U.S. energy correspondent, dives into the recent ranking of U.S. cities for foreign investment. Houston has surged ahead of Miami, thanks to its strong business climate and dual role as an oil hub and clean tech center. The discussion also unveils Miami's slip in rankings, attributing it to rising housing costs and methodological shifts. Additionally, the importance of diversity and the impact of climate risks on city attractiveness for investment are explored, shedding light on the evolving landscape for foreign investors.

Amid mounting global tensions, Russia is significantly increasing its budget, adding economic strain. The ongoing conflict in Israel is also affecting its economy, with businesses feeling the pinch. Meanwhile, Spain's political landscape is heating up with a controversial amnesty deal for Catalan separatists. In a bid for a successful Olympic Games, Paris is racing against time to clean the Seine River, tackling both environmental concerns and infrastructure challenges to ensure the river is ready for athletes to swim.

Dive into a world where life and art collide! Discover personal insights about living well, from food adventures to deep philosophical musings. Explore the vibrant realms of film, music, and literature as three journalists share their takes on the latest cultural releases. Each conversation promises to be engaging and thought-provoking, perfect for anyone looking to enhance their understanding of creativity and culture.

UK chip designer Arm faces tough times with a $110 million loss and a plummet in shares. Portugal grapples with a corruption scandal after its Prime Minister's resignation, threatening economic stability. Meanwhile, the U.S. navigates complex dynamics in Gaza, emphasizing the Palestinian Authority's role post-war. President Biden confronts voter dissatisfaction and party divisions, particularly amidst the Israel-Hamas conflict, raising questions about his re-election prospects.

Rapid wage increases in Eastern Europe are causing concern among economists, who warn this could hurt the region's competitiveness. Israel's Prime Minister Netanyahu declares plans for indefinite control over Gaza, raising questions about future governance and peace. Meanwhile, Australia takes a surprising step to reset relations with China amidst a backdrop of economic tensions. Additionally, falling pork prices in China could threaten the country with deflation, complicating its recovery.

WeWork's bankruptcy highlights the pitfalls of prioritizing rapid growth. PwC announces significant job cuts in the UK, reflecting shifts in the accounting landscape. Houston emerges as the top U.S. city for foreign investment, thanks to its favorable economic conditions. The Inflation Reduction Act is reshaping foreign investment, particularly in the electric vehicle sector, with major investments from companies like Toyota. This discussion uncovers the evolving dynamics of business strategies and investment trends in the U.S.