Nvidia says it expects to take a $5.5bn blow as the US clamps down on the Silicon Valley group’s ability to export artificial intelligence chips to China, and PwC is exiting 12 countries. Plus, the junk bond market has basically ground to a halt, and India’s middle class is dealing with a debt crisis that could impact the country’s growth ambitions. 

Mentioned in this podcast:

Nvidia to take $5.5bn hit as US clamps down on exports of AI chip to China

Risky corporate borrowers shut out of bond market since Trump’s tariff blitz

How India’s middle-class debt crisis is threatening growth

PwC exits 12 countries in push to avoid scandals 

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katya Kumcova, Saffeya Ahmed, Katie McMurran, 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

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