FT News Briefing

Major stock indices were significantly down around the world yesterday. Plus, the FT’s Lucy Fisher explains why the far right is rioting in England and what the government is doing about it. Mentioned in this podcast:US stocks finish sharply lower to close out global market rout Why global investors find it so easy to sell Japan Why are the far right rioting in England? The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com

UK chancellor Rachel Reeves begins a three-day visit to New York and Toronto on Monday in an attempt to sell Britain as “a stable place to do business,” asset managers fret as high-yield savings and caution over market volatility have left up to $1.5tn out of the market, commodity bulls’ dash for the exit sends prices tumbling.Mentioned in this podcast:UK chancellor to court investors in visit to New YorkEU capitals set to back tariffs on Chinese electric cars, trade chief saysCommodity bulls’ dash for the exit sends prices tumblingThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Jess Smith, Denise Guerra, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com

Only two political parties — the Republicans and the Democrats — have controlled the White House since 1853. However, candidates from other parties still run in presidential elections. The FT’s Washington reporter, Steff Chávez, and US business and politics correspondent, Alex Rogers, join this week’s Swamp Notes to explain how third-party candidates could impact the 2024 US presidential race. Mentioned in this podcast:Robert Kennedy Jr launches independent bid for US presidentRobert Kennedy Jr taps nostalgia in bid to upset Donald Trump and Joe BidenSign up for the FT’s Swamp Notes newsletter hereElection Countdown newsletterSwamp Notes is produced by Ethan Plotkin, Sonja Hutson, Lauren Fedor and Marc Filippino. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Special thanks to Pierre Nicholson and Manuela Saragosa.Read a transcript of this episode on FT.com

Investors were not happy with Amazon’s earnings report and Russia agreed to a historic prisoner swap with western countries. Plus, the FT’s Tommy Stubbington discusses how markets might react to a week of important central bank interest rate decisions.  Mentioned in this podcast:Amazon earnings jump on cloud computing strength but margins narrowA momentous week for central banks US journalist Evan Gershkovich released in Russia prisoner swap The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Ethan Plotkin, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com

An interest rate cut could be on the table for the Federal Reserve’s next meeting, conflict in the Middle East is intensifying, and the Nasdaq composite jumped 2.7% on Wednesday. Plus, the FT’s Barney Jopson explains the recent wave of backlash against tourists. Mentioned in this podcast:Powell says September rate cut ‘on the table’ after Fed notes ‘some further progress’ on inflation  Assassinated: the arch-enemies of Israel killed in twin strikes The cost of Europe’s backlash against tourists  CREDIT: The Telegraph The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Mischa Frankl-Duval, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com

Microsoft’s AI-fuelled cloud growth fell slightly short of investors’ expectations, the cost of a luxury office space in Miami smashed records, and London’s stock market has fallen behind in mining company listings. Plus, the FT’s Humza Jilani explains how Pakistan’s banks are benefitting from mounting government debt.Mentioned in this podcast:Microsoft shares fall as cloud growth fails to impress Wall Street Cost of Miami office space hits record highPakistan’s banks enjoy soaring profits on interest from mounting government debt London loses its historic grip on global mining sector listings The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Mischa Frankl-Duval, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com

Britain’s new finance minister blamed the previous Conservative government for a £22bn fiscal hole, and Venezuela’s President Nicolás Maduro is facing international pressure to back up his claim of winning re-election. Plus, the FT’s Andy Bounds explains the EU’s trade strategy to deal with a potential second Trump presidency. Mentioned in this podcast:Reeves announces ‘incredibly tough choices’ to plug £22bn fiscal hole Pressure mounts on Venezuela’s Nicolás Maduro over contested presidential vote EU prepares two-step trade plan to tackle Donald Trump The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Mischa Frankl-Duval, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com

Losses in big tech stocks as investors punish companies over earning reports. The Bank of England may vote to reduce interest rates this week. Fallout after a Hizbollah attack on the Golan Heights.Mentioned in this podcast:US markets suffer worst day since 2022 as Tesla and AI stocks fallBoE rate decision hangs on a knife edge as divided policymakers prepare to meetHizbollah drone footage highlights Israeli security vulnerabilitiesThe FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Mischa Frankl-Duval, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com

If Kamala Harris wins the Democratic nomination next month, she would be only the second woman or person of colour that either major US party has ever nominated for president. On this week’s Swamp Notes, the FT’s US national columnist and editor, Edward Luce, and deputy Washington bureau chief, Lauren Fedor, explain why Harris probably won’t lean into her race or gender on the campaign trail. Mentioned in this podcast:Kamala Harris memes resonate with Gen Z votersHarris vs. Trump: America’s sudden gender electionSign up for the FT’s Swamp Notes newsletter hereCredit: Fox NewsSwamp Notes is produced by Ethan Plotkin, Sonja Hutson, Lauren Fedor and Marc Filippino. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Special thanks to Pierre Nicholson. Read a transcript of this episode on FT.com