FT News Briefing

The Italian lender UniCredit has amassed a 9 per cent stake in Commerzbank, and US inflation fell to 2.5 per cent in August. Plus, Argentines are declaring hundreds of millions of dollars of previously hidden savings in a tax amnesty and Mexico’s Senate approved a radical plan to have voters elect all its judges. Mentioned in this podcast:US inflation falls to 2.5% in AugustUniCredit’s push for European bank consolidation looks on targetJavier Milei’s tax amnesty lures Argentines to declare hidden millionsMexico’s Senate approves radical plan to elect all judges The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Mischa Frankl-Duval, Michela Tindera, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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

The EU’s top court orders Apple to pay €13bn in back taxes, and the Federal Reserve halves its proposed capital requirement increase for the largest US banks. Plus, we talk to the FT’s Benjamin Parkin about the Taliban’s warming relations with a growing number of regional powers. Mentioned in this podcast:Top EU court rules Apple must pay €13bn in back taxesFederal Reserve halves proposed capital requirement rise for largest US banks  Taliban’s closer ties with UAE signal global divide over Afghan regimeThe FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Mischa Frankl-Duval, Michela Tindera, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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

Apple launches the iPhone 16 with generative AI features, and France’s new PM needs more time to submit the country’s debt plans. Kamala Harris is under pressure to perform in tonight’s debate against Donald Trump. Plus, Intel’s plunging share price and manufacturing troubles shatter its hopes for a turnaround.Mentioned in this podcast:Apple launches iPhone 16 with AI features to roll out in coming months France asks EU for more time to submit debt planKamala Harris faces crucial debate as polls hint at slipping momentumIntel in crisis: chipmaker considers drastic change to catch AI rivals   The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Josh Gabert-Doyon, Michela Tindera, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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

Enthusiasm about artificial intelligence masks a recession in the technology sector, and a new exchange traded fund looks specifically for ‘reject’ stocks. Plus, Google heads back to court over fresh antitrust allegations, and Chinese car buyers ditch Tesla for local alternatives.Mentioned in this podcast:AI exuberance masks broad weakness in tech sector, say investors Star manager Rob Arnott launches ETF to buy up index ‘rejects’ Google’s $20bn ad tech business to play for at next antitrust showdown Elon Musk’s China dream stalls as hybrids rush past Tesla The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Josh Gabert-Doyon, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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

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 transformed economic policyJoe Biden set to block Nippon Steel’s takeover of US SteelSign up for the FT’s Swamp Notes newsletter hereRegister for our live subscriber webinar now at ft.com/uswebinarSwamp 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

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, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Saffeya Ahmed, Michela Tindera, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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

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 CREDIT: APThe FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Michela Tindera, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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

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 equity market The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Michela Tindera, Peter Wells, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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

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 LinkThe Covid-era tech that could reinvent cancer careAccountancy firms fight back against audit reformsUK government to probe ‘dynamic’ pricing behind Oasis ticket price surgeThe FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Michela Tindera, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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