A huge US-based oilfield services company is expanding its Russian business, investors are piling into US treasuries, and US retail sales saw their biggest jump in a year and a half in July. Plus, a decade-long dispute between Coca-Cola and federal tax authorities has escalated to the point that the company could owe $16bn in back payments.

Mentioned in this podcast:

US oil services group SLB expands in Russia as competitors withdraw 

Investors return to bonds as recession fears stalk markets

Strong US retail sales raise hopes of ‘soft landing’

How a $16bn tax stand-off stays unseen in Coca-Cola’s earnings

The FT News Briefing is produced by 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

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