FT News Briefing

Boeing’s machinists voted on Wednesday to reject the company’s latest offer and the US has finalised long-awaited ‘open banking’ rules, hoping it will inject more competition into the market. Plus, Deutsche Bank reported a record third-quarter profit and artificial intelligence start-up Anthropic has built a virtual agent that can perform tasks on a computer.Mentioned in this podcast:Striking Boeing machinists reject offer as stand-off nears 6 weeksUS rolls out ‘open banking’ rules to make sharing financial data easier Open banking challenges America’s cozy lenders’ club Deutsche Bank warns of rising bad loan provisions Anthropic says latest AI model can control users’ computers 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

Deloitte has cut about 250 UK employees and HSBC’s chief executive has announced an overhaul of the bank. The IMF has warned global protectionism will endanger the world’s growth outlook, as a possible Donald Trump victory in the US election raises the prospect of tariff increases. Plus, South Korea has called on Russia to stop the deployment of North Korean troops to fight in Ukraine.Mentioned in this podcast:Deloitte axes 250 UK employees in performance-related cull HSBC chief Georges Elhedery unveils sweeping overhaul of lenderTariff surge would damage global growth, IMF warnsSouth Korea asks Russia to stop apparent North Korean troop deployment Go to ft.com/briefingsale for 50% off a digital standard subscriptionThe 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

Share buybacks on mainland China’s biggest exchanges have soared to a record high this year, and Israel has attacked an Hizbollah-affiliated financial institution in Lebanon. Plus, Disney has appointed former Morgan Stanley boss James Gorman as its new chair, and a trip to America’s third-biggest shopping mall offers answers to what’s really going on in the US election. Mentioned in this podcast:Israel strikes Hizbollah-linked lender in LebanonDisney sets new timetable to replace Bob Iger as chiefFour economic truths that explain the US’s bizarre electionChinese share buybacks hit record high as Beijing steps up supportChanel dips oar into sport with Oxford-Cambridge boat race tie-upThe 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

Trading in the world’s second-largest IPO of 2024 begins on Tuesday, but retail investors have given a lukewarm reception to Hyundai Motor India’s listing. A coalition of oil-producing African countries is seeking $5bn to fund projects on the continent, and Boeing’s largest labour union will vote on Wednesday whether to end a costly strike. Uber has explored a possible bid for Expedia, in what would be the company’s largest acquisition. Plus, Elon Musk pledges to pay $1mn per day to random registered voters who sign his petition. Mentioned in this podcast:Boeing workers to vote on ending strike in critical week for plane maker Uber explored takeover bid for Expedia African countries seek $5bn for new fossil fuel project lenderIndian investors give short shrift to Asia’s biggest IPO of 2024Elon Musk criticised for offering $1mn prizes to voters who sign petition 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 2020 US election was one of the most contested in American history, and it culminated in an unprecedented attack on the US Capitol building by supporters of Donald Trump. FT data journalist Eva Xiao and US legal correspondent Joe Miller join this week’s Swamp Notes podcast to explain how Trump and his allies are preparing to challenge the 2024 vote, and what election officials around the country are doing to prepare.Mentioned in this podcast:How Trump allies are sowing election doubts‘There are bad actors’: Trump’s nemesis fights to protect Georgia’s voteAmerica’s dead-heat Trump-Harris electionSign 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

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