FT News Briefing

Elon Musk is looking to inject $5bn into an AI start-up, and Venezuela’s election on Sunday will decide whether Nicolás Maduro will stay in office for more than a decade. Plus, the FT’s Simon Kuper explains how big infrastructure updates in Paris might shake up the cultural and political boundaries of the city.

Mentioned in this podcast:

Elon Musk to seek Tesla board approval for $5bn injection into xAI start-up 

Venezuela’s opposition bets Maduro has miscalculated this time 

Paris, the Olympics and the reinvention of a city 

Biden says it’s time to ‘pass on the torch’, China and the Philippines struck a deal to reduce tensions in the South China Sea, and the Nasdaq composite fell 3.6 per cent yesterday. Plus, the FT’s Chris Kay explains how young investors are gambling on Indian stocks.

Mentioned in this podcast:

The flashpoints that threaten a détente between China and the Philippines 

Beijing and Manila strike deal to reduce tensions in South China Sea 

US stocks sink after Big Tech earnings disappoint   

The young investors gambling on Indian stoc...

Tesla’s net income fell by 45 per cent, investors think Donald Trump will be back in the White House, and the director of the US Secret Service resigned after an operational failure. Plus, the FT’s Jennifer Hughes talks about investors betting on politics in prediction markets. 

Mentioned in this podcast:

Tesla misses profit estimates as electric vehicle deliveries slow

Prediction markets tipped for new growth as US trader interest mounts 

US Secret Service head resigns over Donald Trump assassination attempt 

Markets reassess ‘Trump trades’ after Joe Biden withdraws f...

The US Congress interrogated its Secret Service chief yesterday, and Kamala Harris is gearing up her prospective presidential campaign. Plus, the FT’s Christian Davies explains how Samsung’s labour crisis is complicating its efforts to capitalise on a booming market for semiconductors.  

Mentioned in this podcast:

US Secret Service chief says Donald Trump shooting worst ‘failure’ in decades 

What do we know about Kamala Harris’s chances against Donald Trump? 

Samsung’s ‘chip crisis’: AI ambitions hit by unprecedented worker unrest 

Luxury brands roll out 50% discounts as Chinese shoppers rein...

US President Joe Biden has abandoned his re-election bid following overwhelming pressure from fellow Democrats, and India’s prime minister Narendra Modi faces an early test to his third term in office. Plus, the UK’s new chancellor, Rachel Reeves, will present a fiscal statement to parliament later this month. 

Mentioned in this podcast:

Joe Biden drops out of 2024 US presidential election race and endorses Kamala Harris

Labour’s moment to blame, borrow and tax

India’s Narendra Modi faces budget demands from ‘kingmaker’ allies 

The FT News Briefing...

Republicans gathered in Milwaukee, Wisconsin, for their convention this week, just days after their party leader was nearly assassinated. The presidential nominee, Donald Trump, started off with a message of unity. However, it’s unclear if that message will stick. The FT’s deputy Washington bureau chief Lauren Fedor and US political news editor Derek Brower discuss this new layer for the Republican party.  

Mentioned in this podcast:

Donald Trump pledges tax cuts, trade wars and border crackdown

JD Vance proclaims ‘America first’ as Republicans embrace economic populism

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Donald Trump formally accepted the Republican party nomination for president. HSBC’s new chief executive, Georges Elhedery, will face a unique set of challenges while transitioning into the role, and the European Central Bank decided to keep interest rates unchanged yesterday. Plus, the FT’s Clive Cookson talks about the revival of the space race. Credit: NASA, BBC, NDTV, Global News

Mentioned in this podcast:

Donald Trump recounts near death by gunman in speech to Republican convention

Can HSBC’s new chief finish what Noel Quinn started? 

ECB keeps interest rate at...

Chip stocks dipped yesterday after Trump’s comments rattled investors, the EU spoke up against Viktor Orbán’s recent travels, and a bid to force Amazon to recognise a union failed in the UK. Plus, the FT’s Madhumita Murgia explains what Yandex’s move into Europe signifies. 

Mentioned in this podcast:

Chip stocks tumble as Trump comments rattle investors 

Donald Trump has ‘well-founded plans’ for Russia-Ukraine peace talks, Viktor Orbán claims 

Amazon beats back union bid for UK recognition 

Yandex founder to build AI business in Europe after Ru...

The UK Labour government will present its plans for the upcoming year in the King’s Speech, and Morgan Stanley experienced a slowdown in growth despite a 40 per cent profit increase. Plus, the FT’s Aanu Adeoye explains the Nigerian president’s plans to revive the country’s economy.

Mentioned in this podcast:

Starmer plans to introduce AI bill in King’s Speech

Will shock therapy revive Nigeria’s economy — or sink it further?  

Morgan Stanley’s wealth business stumbles even as profits jump 

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Donald Trump announced Ohio senator JD Vance as his vice-presidential nominee yesterday, and a US judge dismissed a criminal case over the former president’s handling of classified documents. Plus, the FT’s Mehul Srivastava explains why the Gaza pier built by the US hasn’t been as effective as intended. 

Mentioned in this podcast:

Donald Trump picks Ohio senator JD Vance as 2024 running mate 

Judge dismisses classified documents case against Donald Trump

How the US’s $230mn Gaza pier became a ‘colossal failure’ 

The FT News Briefing is pro...