FT News Briefing

Tensions are rising as China worries that Japan's tougher export restrictions could surpass U.S. measures on semiconductors. Meta faces a staggering €1.2 billion fine for privacy breaches in the EU. Meanwhile, the Adani Group is working hard to regain investor trust following fraud allegations, embarking on a special tour for bankers to showcase its assets. Amidst this, the company is attempting a risky $2.5 billion fundraising strategy, all while TikTok battles a legal challenge in Montana over national security issues.

Florida Governor Ron DeSantis prepares to launch his presidential campaign amid challenges. Meanwhile, China's ban on Micron products raises concerns over national security and potential political retaliation. In the finance world, Morgan Stanley searches for a new CEO after James Gorman's upcoming departure. The podcast also delves into how the war in Ukraine has accelerated changes in defense technology, highlighting the competition between traditional firms and innovative tech companies.

Cristina Criddle, a tech reporter for the Financial Times, shares her shocking experience of TikTok spying on her. She dives into the serious implications of data surveillance and privacy concerns that arise from such practices. The discussion also touches on the recent U.S. Supreme Court ruling that protects big tech companies from liability for user-generated content. As Criddle reveals the intricacies of navigating the privacy landscape in a TikTok-dominated world, she prompts listeners to reconsider their relationship with technology.

Ukraine’s allies are anxious that U.S. military support may dwindle during the upcoming election cycle. Meanwhile, Japan's stock market hits a 33-year high, signaling renewed investor interest. The European Central Bank is pushing for a digital euro, but Europeans seem skeptical, with protests highlighting their concerns over surveillance and bank stability. As cash usage declines, the digital euro's necessity is questioned, leaving many to wonder if it’s a solution searching for a problem.

The Federal Trade Commission is taking a strong stance against Amgen’s attempt to acquire Horizon Therapeutics for $28.3 billion, citing concerns over market consolidation. Meanwhile, Ukraine successfully fends off an unprecedented missile attack, showcasing its resilience. In Italy, the country struggles with bureaucratic hurdles in deploying €200 billion in EU COVID recovery funds, raising questions about the effectiveness of proposed projects and the risks to its economic future.

Ford is dialing back investments in China as local EV competition heats up, leading to investor unrest over record share buybacks. Meanwhile, Greece’s economic recovery is highlighted, but not everyone is feeling the benefits. The tourism and construction sectors are booming, yet austerity measures have left lingering issues of debt and poverty. The discussion also touches on new UK food regulations that pose challenges for companies like Krispy Kreme, showcasing the complex dynamics of corporate strategy and economic health.

Turkey's presidential race heats up with Erdoğan and Kılıçdaroğlu neck-and-neck, hinting at a potential runoff. Meanwhile, Argentina grapples with inflation and emergency measures to stabilize its economy. On social media, Twitter's new CEO aims to repair relations with advertisers. In an unexpected twist, sand shortages are driving up construction costs, affecting everything from fracking to jam jars, showing how a common material can spark economic ripples worldwide.

Elon Musk has announced a new CEO for Twitter, stirring interest in corporate dynamics. Meanwhile, Turkey heads into a critical presidential election marked by economic turmoil and political rivalry. The EU is planning an underwater internet cable to strengthen ties with Georgia while tackling reliance on Russia. Concerns about a potential U.S. debt default loom large, impacting trust in the Treasury and global markets. Additionally, Italy faces a crisis with skyrocketing pasta prices, prompting calls for government action.

Disney is turning tides with reduced streaming losses as it hikes subscription fees. Meanwhile, U.S. inflation is dipping, hitting its lowest point since 2021. China is intensifying its crackdown on foreign consultancies like Capvision and Bain, raising concerns over foreign investments. Additionally, conflicting priorities in China are complicating the business landscape. On a different note, Spotify is cleaning house by removing thousands of AI-generated songs after controversies over fake streams.

Donald Trump faces legal consequences as a jury finds him liable for sexual abuse dating back to the 1990s. Meanwhile, Ireland is taking steps to create a sovereign wealth fund, capitalizing on its record budget surpluses. In international news, tensions rise as China condemns proposed EU sanctions on its companies supporting Russia. On the tech front, the podcast explores Bluesky, a new decentralized social media platform from Jack Dorsey, emphasizing its customizable user experience and moderated content.