FT News Briefing

US companies may face a staggering new H-1B visa fee of $14 billion, impacting their hiring of foreign workers. Meanwhile, Big Tech is struggling to secure access to the EU’s financial data market, raising questions about their future there. In international news, the UK, Canada, and Australia have officially recognized Palestine as a state. Additionally, Chinese retail giant JD.com encounters hurdles in its European expansion, particularly following its failed attempts in the UK.

Deutsche Bank's CEO is facing a major lawsuit, stirring up concerns in the financial world. UK Prime Minister Keir Starmer and US President Trump showcased solidarity during an extravagant state visit. Meanwhile, the Bank of England has opted to keep interest rates steady. In a surprising move, Nvidia has decided to invest $5 billion in Intel, raising questions about the future of chip technology and US competitiveness in the global market.

The Federal Reserve has made a significant shift by cutting interest rates for the first time this year, influenced by cooling job data. Meanwhile, China is taking bold steps by banning its tech companies from purchasing Nvidia's AI chips, aiming to bolster local suppliers. On a different front, the Swiss National Bank has emerged as a major player in US tech investments, utilizing a concentrated portfolio to handle the strength of the Swiss franc. Additionally, the podcast touches on the protests surrounding Donald Trump's state visit to the UK.

The UK and US are on the verge of enhancing their collaboration on digital assets like cryptocurrencies. Meanwhile, a UN report accuses Israel of genocide in Gaza, highlighting a humanitarian crisis. Former Italian Prime Minister Mario Draghi warns that EU economic competitiveness is waning due to bureaucratic inaction. On the corporate front, Trump's administration is reshaping power dynamics, shifting authority from shareholders to CEOs, raising concerns about transparency and governance in American companies.

Progress in U.S.-China trade talks may signal a new era in international relations. The implications of a TikTok deal are particularly contentious. Meanwhile, Gen Z is sparking political changes across Asia, with young voices challenging traditional leadership in places like Sri Lanka and Nepal. The podcast also dives into the Federal Reserve's role amidst these political shifts and economic decisions, shedding light on the interconnectedness of youth activism and global trade dynamics.

Political turmoil in Turkey poses serious challenges for the opposition party, raising questions about the future of democracy. Meanwhile, France sees a curious situation where corporate borrowing costs dip lower than the government’s. In the US, a used car lender faces bankruptcy amid fraud allegations, highlighting vulnerabilities in the subprime lending market. Additionally, China’s export controls on Germanium are forcing defense companies to scramble for new suppliers, highlighting the pressures in international trade.

Brazil's supreme court has convicted former president Jair Bolsonaro, raising alarms about his coup attempt. The tragic killing of conservative activist Charlie Kirk has sparked fierce calls for retribution on the right, reflecting the escalating political violence in the U.S. Inflation data reveals a persistent struggle for the Fed amid an uncertain labor market. Meanwhile, shares in cryptocurrency-holding companies are plunging, as concerns about market saturation grow, leaving investors wary of the 'crypto treasury' trend.

A conservative political activist is tragically shot, raising concerns about safety and security. Military analysts are anxious over NATO's response to a drone incursion from Russia, exposing gaps in their defense systems. Meanwhile, the music industry sees a financial twist with 'Bowie bonds' gaining traction as a new investment avenue. Artists are increasingly selling their music catalogs, merging creativity and commerce amidst Wall Street's growing interest. Tensions rise as the implications of these events unfold.

Israel is ramping up its military operations against Hamas, raising significant concerns about the humanitarian crisis in Gaza. The U.S. labor market revealed a downward revision of nearly a million jobs, impacting economic forecasts. Meanwhile, a major merger is creating a $50 billion mining conglomerate. South Korean firms are navigating challenges by cutting corners with work visas in the U.S., bringing to light the complexities of global labor dynamics. These topics highlight the intersection of conflict, economics, and corporate strategy.

Rupert Murdoch successfully resolves a media empire dispute, paving the way for a succession plan. Meanwhile, France is once again without a prime minister as President Macron searches for leadership amidst political turmoil. In the U.S., PNC announces the acquisition of FirstBank, emphasizing banking sector shifts. North Cyprus is turning to casinos as a potential economic lifeline, despite concerns over crime and dependence on Turkey, raising questions about the island's future reunification efforts.