FT News Briefing

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.

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

Germany's far-right makes significant inroads in state elections, and Israel’s largest union calls for a general strike. Plus, so-called ‘greedlation’ becomes a campaign issue for the Democrats, and Hong Kong wants workers to smile more.Mentioned in this podcast: Alternative for Germany wins its first regional electionHostage deaths build pressure on Netanyahu for Hamas dealGreedflation and groceriesHong Kong service workers told to smile more to attract tourists 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 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

Kamala Harris and Donald Trump have different approaches to the media: Trump talks a lot, and Harris talks a little. But the candidates share one thing in common: they’re both sceptical of mainstream outlets. The FT’s US managing editor, Peter Spiegel, and Los Angeles bureau chief, Christopher Grimes, join this week’s Swamp Notes to explain why. Mentioned in this podcast:Kamala Harris versus the media‘Way too much news’: US conservatives face a fragmented media mapSign 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 the original episode on FT.com CREDIT: NBC News

Turkey’s stock rally hits reverse as juicy interest rates lure savers out of the market, and the FT’s Polina Ivanova explains how Telegram is a lifeline for both Russian and Ukrainian troops and civilians. Plus, Cornell University’s Eswar Prasad says Thailand could open a window into how central bank digital currencies might be used in future.Mentioned in this podcast:Turkey’s blazing stock rally falters with high rates luring savers awayWar unfiltered: how Telegram straddles the Ukraine fron tlineThailand may tell us a great deal about the future of moneyThe FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Michela Tindera, Prakriti Panwar, 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

Nvidia’s record-breaking earnings still somehow disappointed investors, China’s use of the renminbi in cross-border trading is at a record high, and Berkshire Hathaway becomes the first publicly traded US company outside of tech to be valued at $1tn. Plus, Ford’s big plans to boost profits continue to fall short.Mentioned in this podcast:Nvidia revenue more than doubles as demand for AI chips remains strongChina’s international use of renminbi surges to record highs Warren Buffett’s Berkshire Hathaway surges past $1tn market value Ford shares have stalled: can CEO Jim Farley steer out of its rut? 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 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