FT News Briefing

The US has relaxed sanctions on Venezuela’s state-owned oil group Petróleos de Venezuela and the Federal Reserve has stuck with plans to cut rates later this year. Plus, Walmart won patents to give algorithms more sway over prices and fears of an immediate escalation in the conflict between Afghanistan and Pakistan have eased.Mentioned in this podcast:Federal Reserve chief Jay Powell says Iran oil crisis will worsen US inflationPakistan and Afghanistan pause hostilities after Kabul hospital attackWalmart wins patents to give algorithms more sway over pricesUS relaxes sanctions on Venezuela’s PDVSA amid global energy squeezeSend us your tariff story: marc.filippino@ft.comCredit: Federal ReserveNote: The FT does not use generative AI to voice its podcasts Today’s FT News Briefing was hosted by Sonja Hutson, and produced by Fiona Symon and Victoria Craig. Our show was mixed by Kelly Garry. Additional help from David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley 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 EU wants to make mergers a bit easier, Wall Street banks are offloading $18bn of debt tied to video game maker Electronic Arts, and investors are piling into cash at the fastest rate since the Covid-19 pandemic. Plus, the FT’s Ahmed Al Omran explains why Saudi Arabia’s recent truce with Iran has not paid off. Mentioned in this podcast:EU weighs curbs on national powers to block mergersBanks prepare to offload $18bn in debt tied to EA take-private dealInvestors pile into cash at fastest pace since pandemic on Iran fearsHow MBS’s bet on Iran backfiredSend us your tariffs story: marc.filippino@ft.comNote: The FT does not use generative AI to voice its podcasts Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Saffeya Ahmed and Sonja Hutson. Our show was mixed by Kent Militzer. Additional help from Michael Lello, and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley 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 FT’s Gideon Rachman explains what the Strait of Hormuz’s closure means strategically for Iran, Italy’s UniCredit has launched a €35bn takeover offer for Commerzbank and China’s oil stockpile is put to the test as the strait remains closed. Plus, scientists have identified a potential new type of planet.Mentioned in this podcast:Why Hormuz will haunt us long after this war endsBiggest Nato allies reject Trump’s Hormuz armada demandUniCredit launches €35bn Commerzbank takeover offerIran war tests Xi Jinping’s plan to build China’s stockpilesHellish new planet identified beyond solar systemNote: The FT does not use generative AI to voice its podcasts Today’s FT News Briefing was hosted by Sonja Hutson, and produced by Marc Filippino, Saffeya Ahmed, and Victoria Craig. Our show was mixed by Kent Militzer. Additional help from Michael Lello. Our executive producer is Topher Forhecz. Cheryl Brumley 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

Donald Trump warned Nato faces a “very bad” future if US allies fail to assist in opening up the Strait of Hormuz, and though oil prices have breached $100 per barrel, America’s shale producers aren’t celebrating. Plus, wealthy individuals have sought to pull more than $10bn from some of the largest private credit funds in the first quarter. And, what to expect from eight central bank meetings this week. Mentioned in this podcast:Donald Trump warns Nato faces ‘very bad future’ if allies fail to help US in IranEU ministers to discuss possible naval options for Strait of HormuzWhy America’s shale patch is not celebrating $100 oilRich investors seek to pull billions from private credit funds Iran war reawakens global inflation fearsNote: The FT does not use generative AI to voice its podcasts Today’s FT News Briefing was hosted by Victoria Craig, and produced by Julia Webster. Our show was mixed by Alex Higgins. Additional help from Peter Barber. Our executive producer is Topher Forhecz. Cheryl Brumley 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

Introducing Artificial intimacy from Tech Tonic. For the next episodes in this season go to the Tech Tonic feed.Calder Quinn has fallen into a relationship with a chatbot called Sara. She’s kind, emotionally intelligent and creatively inspiring. But how can he tell his wife he is having sex with an AI girlfriend? In the first episode of Artificial Intimacy we look at how people are developing romantic bonds with AI companions. What does it feel like to be in love with AI? What impact could it have on human relationships? Could it replace them altogether? Host Cristina Criddle speaks to Giada Pistilli, an AI ethicist who now works at Mistral; Calder Quinn, writer at ‘AI, But Make It Intimate’; Amelia Quinn, Calder’s wife; and Alaina Winters, professor emeritus of communication who publishes on meandmyaihusband.com.Presented by Cristina Criddle, produced by Persis Love and Edwin Lane. The executive producer is Flo Phillips. Sound design by Breen Turner and Sam Giovinco. We used ElevenLabs to create Sara’s voice. All other voices are real.

Gulf oil producers have lost billions of dollars in energy revenues since the start of the US-Iran war, but there is one country benefiting: Russia. It is earning as much as $150mn a day in extra budget revenues from its oil sales. Plus, the FT’s defence and security correspondent Charles Clover explains what may come next in the conflict. Mentioned in this podcast:Gulf states lose $15bn in energy revenues since start of warIran’s new supreme leader vows to keep Strait of Hormuz closed‘Sitting ducks’: oil tankers trapped in Gulf as Iran widens attacks on shippingRussia rakes in $150mn a day in extra revenue from surging oil pricesNote: The FT does not use generative AI to voice its podcasts Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Victoria Craig, Sonja Hutson, and Saffeya Ahmed. Our show was mixed by Kent Militzer. Additional help from Michael Lello. Our executive producer is Topher Forhecz. Cheryl Brumley 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 International Energy Agency has launched the largest release of strategic oil reserves in its history, investors have sought shelter from the turmoil of the war in Iran in US tech stocks and US inflation held steady at 2.4 per cent in February. Plus, the war has threatened the Indian economy’s “Goldilocks” combination of strong growth and low inflation. Mentioned in this podcast:IEA releases record oil reserves to counter Iran war energy shockInvestors seek shelter from Iran war in US tech stocksUS inflation holds steady at 2.4% in FebruaryIran war threatens India’s ‘Goldilocks’ economyThe ‘number station’ sending mystery messages to IranNote: The FT does not use generative AI to voice its podcasts Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Fiona Symon, Victoria Craig, Sonja Hutson and Saffeya Ahmed. Our show was mixed by Kent Militzer. Additional help from Michael Lello and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley 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

Oracle’s shares climbed 9 per cent on Tuesday after the database group posted better than expected earnings, and we discuss how American businesses are navigating soaring energy prices. Plus, the higher costs to insure tankers traversing the Strait of Hormuz, and the FT’s Antoine Gara explains why investors are ditching private credit funds.  Mentioned in this podcast:Oracle shares rally on strong revenue forecast from AI data centresSoaring fuel prices expected to cast long shadow across US economyLloyd’s of London says it will still insure ‘basically anyone’ in the GulfInvestors ditch private credit funds on rising worries over bad loansRetail investors shun private credit funds after Blue Owl gatingNote: The FT does not use generative AI to voice its podcasts Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Fiona Symon, Victoria Craig, Sonja Hutson and Saffeya Ahmed. Our show was mixed by Kent Militzer. Additional help from David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley 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 price of oil fell sharply, and we’ll take a look at why the US and Israel are avoiding an attack on Iran’s Kharg Island. Plus, the FT’s George Hammond explains what the tenuous relationship between the Pentagon and Anthropic might mean for the AI start-up. Mentioned in this podcast:G7 ‘stands ready’ to release emergency oil reservesAnthropic sues the Pentagon over being declared a ‘supply chain risk’Gilt market slump deepens as traders bet on Bank of England rate riseKharg Island: Iran’s oil lifeline that Donald Trump has left untouchedWebinar: War in the Middle East: What’s the End game? Note: The FT does not use generative AI to voice its podcasts Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Saffeya Ahmed and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Michela Tindera, Michael Lello and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley 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