FT News Briefing

Israel says it has killed Yahya Sinwar, Hamas’s leader and the architect behind the October 7 2023 attacks. Mixed quarterly earnings from chipmakers send tech stocks yo-yoing, and the European Central Bank has cut interest rates by a quarter-point, amid signs that growth and inflation are weakening. Plus, South Africa’s Government of National Unity works to resolve tensions as it passes its 100-day milestone. Mentioned in this podcast:Hamas leader Yahya Sinwar killed in Gaza, Israel says ASML shares drop sharply after warning on semiconductor recoveryNvidia shares hit record as US ‘soft landing’ hopes drive tech rebound TSMC profits jump 54% on back of AI chip boom  ECB lowers rates to 3.25%Optimism builds on South Africa’s ‘second miracle’ coalitionThe FT News Briefing is produced by Niamh Rowe, 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 Joseph Salcedo. 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

Rights groups say Israel appears to be implementing a controversial plan to force Hamas into submission by laying siege to the north of Gaza. BHP’s chief executive met government officials in South Africa last week, fuelling speculation that the miner will resurrect its failed bid for rival Anglo American. Plus, the downfall of once-hyped genetic testing company 23andMe, and Prada launches in to spacesuit design. Mentioned in this podcast:More than 100 killed in Nigeria fuel tanker explosion Israel ‘starting to implement’ north Gaza starvation plan, say rights groups BHP chief sparks fresh Anglo bid speculation after South Africa trip  Founder Anne Wojcicki races to rescue 23andMePrada launches into spacesuit design  The FT News Briefing is produced by Niamh Rowe, 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 Joseph Salcedo. 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

Shares in ASML led a tech rout on Nasdaq on Tuesday after the chipmaker warned of a slower recovery in the semiconductor market, and Goldman Sachs’ quarterly profits jumped 45 per cent to $3bn, boosted by its equity trading business. Asian battery makers are racing to develop new generations of superfast charging for electric vehicles, and a growing list of cash-strapped companies are deferring loan repayments to private credit funds.Mentioned in this podcast:ASML shares drop sharply after warning on semiconductor recovery Corporate debts mount as credit funds let borrowers defer payments Battery makers aim to ease EV anxieties with 5-minute chargeGoldman Sachs profits jump 45% to $3bn after trading boostCitigroup and BofA join other big US banks in beating gloomy forecastsThe FT News Briefing is produced by Niamh Rowe, 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 Joseph Salcedo. 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

OpenAI is considering a largely untested company model to protect chief executive Sam Altman from outside interference, and virtually all global insurers now include at least one low-carbon transition goal within their investment plans. Millions of dollars in bets are being placed on the US presidential election following the lifting of a domestic betting ban last week. Plus, China’s deflationary pressures picked up in September with weaker than expected consumer and factory prices, and the 2024 Nobel Prize for economics has been awarded to a trio of academics for their work on global inequality. Mentioned in this podcast:OpenAI pursues public benefit structure to fend off hostile takeovers China deflation pressure mounts as investors seek more stimulus for economyUS election bets surge after court lifts ban Trio of economists wins Nobel Prize for work on wealth of nations  Rethinking the AI boom, with Daron Acemoğlu Insurers embrace climate change investments as catastrophe costs mountThe FT News Briefing is produced by Niamh Rowe, 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 Joseph Salcedo. 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

Russia has expanded the capacity of its shadow fleet of oil tankers despite western sanctions, and US bank stocks hit their highest level since before the collapse of Silicon Valley Bank on Friday, following better than expected quarterly earnings. Plus, the Eurozone’s weak economic growth and sluggish consumer prices have raised concerns about low inflation, and Argentina’s president Javier Milei is not ready to lift the country’s currency controls.Mentioned in this podcast:Russia’s shadow fleet grows despite western crackdown US bank stocks pass pre-SVB high on hopes for economic ‘soft landing’ Spectre of low inflation returns to haunt Eurozone policymakers Argentina’s Javier Milei says his ‘regime of freedom’ not ready to drop currency controlsMusk’s SpaceX catches returning booster rocket in technical milestone The FT News Briefing is produced by Niamh Rowe, 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 Joseph Salcedo. 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

Both chambers of the US Congress are like the country they represent: narrowly divided. But while Democrats currently hold a one-seat Senate majority, Republicans are increasingly confident that they’ll take back control of the chamber after the election next month. The FT’s Washington bureau chief, James Politi, and the Cook Political Report’s Senate and Governors editor, Jessica Taylor, join this week’s Swamp Notes to explain why this year’s Congressional map looks so good for Republicans. Mentioned in this podcast:Joe Manchin will not seek US Senate re-election in blow to DemocratsDonald Trump-backed US Senate candidate clinches Republican nomination in OhioSign up for the FT’s Swamp Notes newsletter hereSwamp 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

The French government has proposed a budget for next year with some €60bn worth of spending cuts and tax increases, and Hurricane Milton ploughed across Florida on Wednesday. US inflation fell to 2.4 per cent in September. Plus, we look ahead to Japan’s early elections later this month. Mentioned in this podcast:French PM unveils shock therapy in 2025 budgetUS inflation fell to 2.4% in SeptemberHurricane Milton leaves millions without power after lashing FloridaJapan’s new prime minister pledges to tackle deflation in first policy speechSpanish star Rafael Nadal calls time on glittering tennis careerCREDIT: BBCThe FT News Briefing is produced by Niamh Rowe, 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 Joseph Salcedo. 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

HSBC’s top-paid bankers to bear the brunt of cost-cutting restructuring, and the UK Conservative party leadership race has been whittled down to two rightwingers. Plus, Germany’s economy is expected to shrink, and the US government is considering seeking the break-up of Google to end its monopoly in search. Mentioned in this podcast:US weighs Google break-up in landmark antitrust caseJenrick vs Badenoch: Meet the next Conservative leader Germany expects economy to shrink in 2024 after cutting forecast Expensive senior bankers to bear brunt of HSBC restructuring  The FT News Briefing is produced by Niamh Rowe, 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 Joseph Salcedo. 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 head of KPMG US says the industry urgently needs to make it easier to become an accountant, and the EU is suing Hungary’s government over a new security law it says is in breach of citizens’ fundamental rights. Plus, India races to extract as much oil as possible while there remains a market for crude. Mentioned in this podcast:KPMG US head says the industry urgently needs to make it easier to become an accountant  India in rush to boost oil production before energy transition EU sues Hungary over new security law  The 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 Joseph Salcedo. 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