US President Joe Biden is expected to announce on Tuesday that he’s running for re-election, UBS could lose customers as a result of its takeover of Credit Suisse, and the French luxury group LVMH became the first European company to hit a $500bn market value.
Mentioned in this podcast: Biden prepares to take his case for a second term to American voters Hunt admits UK business taxes are too high as government pressed on strategy Credit Suisse suffered $69bn in outflows during first-quarter crisis LVMH becomes first European company to hit $500bn market value
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. 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 Hosted on Acast. See acast.com/privacy for more information.

UBS’s Credit Suisse challenge

A rundown of the most important global business stories you need to know for the coming day, from the newsroom of the Financial Times. Available every weekday morning. Hosted on Acast. See acast.com/privacy for more information.

News & Politics

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Both Donald Trump and Joe Biden made campaign stops last week in Pennsylvania, whose 19 electoral votes could decide the outcome of the 2024 election. But in a state with such a range of demographic groups, how can each find a message that will stick? The FT’s deputy Washington bureau chief, Lauren Fedor, and US political editor Derek Brower join to discuss. 
Mentioned in this podcast: Joe Biden’s speech to steel workers underscores union’s burgeoning influence Joe Biden calls for tripling of tariffs on Chinese steel Josh Shapiro warns Joe Biden gas stance could hurt election hopes Sign up for the FT’s Swamp Notes newsletter here
Swamp 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. 
CREDIT: The Independent, The Times and the Sunday Times Hosted on Acast. See acast.com/privacy for more information.

Swamp Notes: How do you win Pennsylvania?

Netflix profits surged during the first quarter, global markets had a rocky week due to worries over US inflation, and India’s prime minister is getting a big boost from the business class in his re-election campaign. 
Mentioned in this podcast: Netflix profits surge on strong subscriber growth The great bet on rate cuts is off European stocks suffer worst day in nine months US to grow at double the rate of G7 peers this year, says IMF Jay Powell says US inflation ‘taking longer than expected’ to hit target Businesses bank on Narendra Modi election win to ease India’s bottlenecks Luxury automakers hit by Korea’s new neon green licence plate rule for company cars
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Denise Guerra, Cara Shillenn, 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 Hosted on Acast. See acast.com/privacy for more information.

Big business bets on Modi

Iran is exporting more oil than at any time for the past six years, EU leaders are debating whether to unify the bloc’s fragmented capital markets, and the IMF warns that the US’s massive fiscal deficit poses significant risks to global markets. Plus, artificial intelligence needs an abundance of electricity to run, but the world is struggling to generate it.
Mentioned in this podcast: Iran oil exports hit 6-year high as west prepares sanctions Majority of EU states object to capital markets reform push US deficit poses ‘significant risks’ to global economy, warns IMF Booming AI demand threatens global electricity supply
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Cara Shillenn, Denise Guerra, 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 Hosted on Acast. See acast.com/privacy for more information.

AI’s electricity problem

Andreessen Horowitz hauls in one of the largest funds since the downturn in the tech sector, stocks from China’s state-owned enterprises are faring well compared with the wider market, and the IMF says that the US is on track to grow at double the rate of any other G7 country this year. Plus, a full-scale conflict has depleted Ukrainian defences. Israel could face a similar plight despite the weekend’s successful interceptions.
Mentioned in this podcast: Andreessen Horowitz raises $7.2bn and sets sights on AI start-ups Beijing reforms unloved state-owned enterprises to win back investors US to grow at double the rate of G7 peers this year, says IMF Ukraine’s air defence struggle shows risks to Israel
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Katya Kumkova, Josh Gabert-Doyon, 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 Hosted on Acast. See acast.com/privacy for more information.

A glow-up for China’s state-owned enterprises

Goldman Sachs surpasses profit estimates by almost $1bn, CVC’s revived listing plan follows years of internal discord over whether the PE firm should go public, and Tesla is laying off 10% of its global workforce. Plus, the FT’s Michael Stott explains why the Darién Gap has become an important migration route for people heading towards the US.
Mentioned in this podcast:  Goldman Sachs traders help fuel 28% profit increase Goldman Sachs knows what fits it best — plenty of deals CVC’s tortuous path to an IPO Tesla to cut 10% of global workforce The migrant highway that could sway the US election
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Denise Guerra, 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 Hosted on Acast. See acast.com/privacy for more information.

UBS’s Credit Suisse challenge

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