FT News Briefing

Protests across Europe over the high cost of living have turned increasingly disruptive, investors are racing to buy credit default swaps to protect their portfolios in the event the AI boom unravels, and Big Tech starts releasing their earnings reports this week. Plus, India’s second-richest man will try to pull off the country’s biggest initial public offering and Saudi Arabia has postponed its flagship “Davos in the desert” investment conference following Houthi attacks.Mentioned in this podcast:Violent protests multiply across EuropeFrench bond sell-off intensifies after violent protests‘Cheap’ credit default swaps become bellwether hedge for AI sentimentAmbani looks to pull off India’s biggest IPOSaudi Arabia to postpone ‘Davos in the desert’ after Houthi attacksWant to get in touch? Email us at podcasts@ft.comNote: The FT does not use generative AI to voice its podcastsThe FT News Briefing is produced by Sonja Hutson, Saffeya Ahmed, and Josh Gabert-Doyon. Our editor is Marc Filippino. Our video producer is Zachary Alfred. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Vanessa Brown, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.Read a transcript of this episode on FT.com

France is reeling after "unprecedented" violent riots, America’s debt-laden $10tn AI infrastructure boom is a reckoning for the data centre build-out underpinning the US economy, and Albertans gear up to vote today on whether to leave Canada.Mentioned in this podcast:France reels after ‘unprecedented’ violent riotsMacron faces political firestorm after riots‘The Switzerland of North America’: Albertans vote on leaving CanadaAmerica’s $10tn AI infrastructure boom is starting to frayMicrosoft pulls plug on Nscale data centre dealWant to get in touch? Email us at podcasts@ft.comNote: The FT does not use generative AI to voice its podcasts.Until 28th October you can save on a standard annual digital subscription at ft.com/briefingsaleThe FT News Briefing is produced by Sonja Hutson, Saffeya Ahmed, and Josh Gabert-Doyon. Our editor is Marc Filippino. Our video producer is Zachary Alfred. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Vanessa Brown, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.Read a transcript of this episode on FT.com

As Americans prepare to vote in the November 3 midterm elections, FT chief economics commentator Martin Wolf asks what the result will mean for Donald Trump, the future of US democracy and America's place in the world. In the first of a six-part series of interviews with leading historians and political analysts, Martin speaks to the scholar and former Republican adviser Robert Kagan, who has spent a decade warning about Trump's authoritarian ambitions. They discuss how Trump has accumulated so much power, whether America's democratic institutions can still constrain him, and what might happen if Republicans lose control of Congress. Could these elections mark a turning point for American democracy or has the country already gone too far down the road towards authoritarianism?Watch the full episode now on the FT’s main YouTube channel here: https://www.youtube.com/@FinancialTimes or search for ‘Martin Wolf on the World’, wherever you get your podcastsHost: Martin WolfProducer: Mischa Frankl-DuvalSenior Producer: Laurence KnightExecutive Producer: Manuela SaragosaVideo Editor: Richard ToppingAudio engineering: Breen TurnerBroadcast engineers: Andrew GeorgiadisPodcast development: Laura ClarkeFT Global Head of Audio: Flo PhillipsRead a transcript of this episode on FT.com

UK Chancellor John Healey has dropped his strongest hint yet of higher taxes on banks, and Anthropic secured a credit rating one notch below investment grade earlier this year. Plus, investors are losing confidence that revenues from the AI boom will be sufficient to support the vast debt piles financing data centres.Mentioned in this podcast:Healey signals Budget bank tax raidAnthropic secured highest junk credit rating in JuneAnthropic tells investors quarterly revenue up nearly 50% to $16.8bn ahead of IPOInvestors dump data centre bonds as AI borrowers face ‘Darwin moment’Want to get in touch? Email us at podcasts@ft.comNote: The FT does not use generative AI to voice its podcastsThe FT News Briefing is produced by Mischa Frankl-Duval Sonja Hutson, Saffeya Ahmed, and Josh Gabert-Doyon. Our editor is Marc Filippino. Our video producer is Zachary Alfred. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.Read a transcript of this episode on FT.com

Ukrainian President Volodymyr Zelenskyy criticized US President Donald Trump in an interview with the FT, US inflation jumped to 3.7% and leaked emails reveal that Freshfields law firm considered a carve-out of itsAI unit that would be worth billions. Plus, leading AI labs are responding to the alleged bugging incident at OpenAI and salmon producers are changing up the diet for their fish.Mentioned in this podcast:Ukraine to resume strikes on Russian refineries, Zelenskyy saysUS inflation jumps to 3.7% as Iran war drives up pricesFreshfields partners explore carve-out of AI unit worth ‘billions’, leaked emails revealUS arrests Saudi employee of OpenAI for allegedly bugging its officesHe linked Saudi Arabia to Silicon Valley. Then OpenAI found a bug wrapped in toilet paperSalmon producers start feeding chicken to fishWant to get in touch? Email us at podcasts@ft.comNote: The FT does not use generative AI to voice its podcastsThe FT News Briefing is produced by Sonja Hutson, Saffeya Ahmed, and Josh Gabert-Doyon. Our editor is Marc Filippino. Our video producer is Zachary Alfred. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.Read a transcript of this episode on FT.com

France’s far-right leader Marine Le Pen is gearing up for a fight with the EU if elected president next year, investors in Accenture cannot decide if AI will be an existential threat or an incredible boost, CoreWeave is chasing insurers’ vast pools of capital, and the US Treasury has fined Bank of America more than $1bn for “egregious and continued” money laundering and sanctions violations. Plus, can Saudi Arabia stop the Houthis?Mentioned in this podcast:France’s Marine Le Pen gears up for fight with EUWill Accenture survive or thrive in the age of AI?CoreWeave targets ‘unlimited’ insurance money to fund AI build-outBank of America fined $1.2bn over money laundering failuresMilitary briefing: can Saudi Arabia stop the Houthis?Want to get in touch? Email us at podcasts@ft.comNote: The FT does not use generative AI to voice its podcastsThe FT News Briefing is produced by Sonja Hutson, Saffeya Ahmed, and Josh Gabert-Doyon. Our editor is Marc Filippino. Our video producer is Zach Alfred. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.Read a transcript of this episode on FT.com

The IMF is warning that the world’s leading economies need to take “urgent” action to rebuild their public finances, Pakistan is stuck in a tricky place as its ally Saudi Arabia fights off the Houthis, and Mark Zuckerberg says Meta has caught up with rivals at the “frontier” of AI. Plus, a number of elections in Europe could fundamentally shift the EU, and the UK has imposed new sanctions on Iran over a security incident at a RAF base.Mentioned in this podcast:Top economies heading for biggest budget deficits since Covid, IMF warns Pakistan’s hard choice on Saudi Arabia’s warRiyadh defiant as Houthis launch new missile strikes on Saudi ArabiaMark Zuckerberg says Meta has reached AI ‘frontier’The election supercycle set to drag Europe rightUK imposes new sanctions on Iran over RAF Fairford incidentIndia’s Narendra Modi faces ‘bitter pill’ as Cockroach protests mountWant to get in touch? Email us at podcasts@ft.comNote: The FT does not use generative AI to voice its podcastsThe FT News Briefing is produced by Sonja Hutson, Saffeya Ahmed, and Josh Gabert-Doyon. Our editor is Marc Filippino. Our video producer is Zachary Alfred. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.Read a transcript of this episode on FT.com

The Iran-backed Houthis have struck Riyadh airport in Saudi Arabia multiple times this week, US president Donald Trump claims an “energy ceasefire” between Russia and Ukraine, and AI companies are pulling back new debt issuance. Plus, US bank earnings this week suggest the good times may be over.Mentioned in this podcast:US threatens to block arms for Ukraine over attacks on Russian refineriesUkraine’s allies vow to pressure Moscow as Trump claims ‘energy ceasefire’ in placeMissile strike on Riyadh airport kills 12 and injures hundredsHouthis show military reach with deadly missile strikes on RiyadhAI borrowing slows as investors grow wary of debt bingeWall Street’s record-breaking trading streak set to coolWant to get in touch? Email us at podcasts@ft.comSubscribe to the FT: ft.com/briefingsaleNote: The FT does not use generative AI to voice its podcastsThe FT News Briefing is produced by Sonja Hutson, Saffeya Ahmed, and Josh Gabert-Doyon. Our editor is Marc Filippino. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.Read a transcript of this episode on FT.com