FT News Briefing

Democrats and Republicans have taken a protectionist turn on trade policy over the past few years. They say it’s to protect national security, but that argument doesn’t always hold up. Just look at this week’s announcement from vice-president Kamala Harris that she doesn’t support the purchase of US Steel by Japan’s Nippon Steel. The FT’s economics editor, Sam Fleming, and Washington bureau chief, James Politi, join this week’s Swamp Notes to explain why both parties are leaning into “Made in America”.

Mentioned in this podcast:

How national security has transf...

President Emmanuel Macron has named the EU’s former Brexit negotiator Michel Barnier as France’s next prime minister. Plus, Europe’s sustainable investment funds double down on defence stocks, and Ukraine ​President Volodymyr Zelenskyy carries out his biggest wartime cabinet reshuffle yet.

Mentioned in this podcast:

Europe’s ESG funds more than double defence holdings amid Ukraine war 

Michel Barnier promises respect for ‘all political forces’ as French PM 

Zelenskyy seeks ‘new energy’ with Ukraine’s biggest wartime cabinet reshuffle

The FT News Briefing is produced by Niamh Rowe...

Volkswagen calls for drastic measures to bolster profits, and President Joe Biden wants to block a Japanese company’s acquisition of US Steel. Plus, damning findings about the Grenfell Tower fire surface, and Egypt’s journey from gas bonanza to power blackouts 

Mentioned in this podcast:

Joe Biden set to block Nippon Steel’s takeover of US Steel 

Volkswagen warns staff it has ‘a year, maybe two’ to adapt to lower demand 

‘Incompetence, dishonesty and greed’: Key findings of Grenfell report 

Egypt’s journey from gas bonanza to power blackouts 

Big tech groups including Nvidia led a broad US stock market sell-off on Tuesday, and Huawei’s AI chips are dealing with some bugs. Plus, US homebuilders are facing their biggest credit crunch in more than a decade, and foreign investors are backing out of Indian equities. 

Mentioned in this podcast:

US homebuilders face credit crunch as banks cut lending 

Huawei’s bug-ridden software hampers China’s efforts to replace Nvidia in AI 

Global stocks slide as investors fret over US slowdown 

Foreign investors pull out of frothy Indian equ...

The UK blocks some arms shipments to Israel, audit firms are fighting against new oversight rules in the US, and the same technology that brought us Covid-19 vaccines could also be used to fight cancer. Plus, the Oasis revival tour is so popular it triggered a UK investigation into Ticketmaster. 

Mentioned in this podcast:

UK to halt exports of some arms to Israel citing possible law breaches External Link

The Covid-era tech that could reinvent cancer care

Accountancy firms fight back against audit reforms

UK government to probe ‘dyn...

Germany's far-right makes significant inroads in state elections, and Israel’s largest union calls for a general strike. Plus, so-called ‘greedlation’ becomes a campaign issue for the Democrats, and Hong Kong wants workers to smile more.

Mentioned in this podcast: 

Alternative for Germany wins its first regional election

Hostage deaths build pressure on Netanyahu for Hamas deal

Greedflation and groceries

Hong Kong service workers told to smile more to attract tourists 

The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussal...

Kamala Harris and Donald Trump have different approaches to the media: Trump talks a lot, and Harris talks a little. But the candidates share one thing in common: they’re both sceptical of mainstream outlets. The FT’s US managing editor, Peter Spiegel, and Los Angeles bureau chief, Christopher Grimes, join this week’s Swamp Notes to explain why. 

Mentioned in this podcast:

Kamala Harris versus the media

‘Way too much news’: US conservatives face a fragmented media map

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Turkey’s stock rally hits reverse as juicy interest rates lure savers out of the market, and the FT’s Polina Ivanova explains how Telegram is a lifeline for both Russian and Ukrainian troops and civilians. Plus, Cornell University’s Eswar Prasad says Thailand could open a window into how central bank digital currencies might be used in future.

Mentioned in this podcast:

Turkey’s blazing stock rally falters with high rates luring savers away

War unfiltered: how Telegram straddles the Ukraine fron tline

Thailand may tell us a great deal abo...

Nvidia’s record-breaking earnings still somehow disappointed investors, China’s use of the renminbi in cross-border trading is at a record high, and Berkshire Hathaway becomes the first publicly traded US company outside of tech to be valued at $1tn. Plus, Ford’s big plans to boost profits continue to fall short.

Mentioned in this podcast:

Nvidia revenue more than doubles as demand for AI chips remains strong

China’s international use of renminbi surges to record highs 

Warren Buffett’s Berkshire Hathaway surges past $1tn market value 

Ford shares...

The Japanese operator of 7-Eleven is discussing ways to defend itself against a takeover bid by Canada’s Alimentation Couche-Tard, Chinese export controls on crucial semiconductor materials are starting to hit supply chains, and the fintech company Klarna plans to axe almost half of its staff in favour of artificial intelligence. Plus, Nasa is turning to Elon Musk’s SpaceX after Boeing’s Starliner, which was meant to bring two US astronauts home, suffered technical problems.

Mentioned in this podcast:

7-Eleven’s Japanese owner explores protected status to thwart foreign bid

China’s export cu...