FT News Briefing

US President Donald Trump has said he wants to ‘take the oil in Iran’ and could seize the export hub of Kharg Island. Uncertainty about what happens next in the war is sending nervousness through global markets. Plus, this week marks one year since President Trump’s so-called Liberation Day announcement. How has the global trade landscape changed since then? Mentioned in this podcast: Donald Trump says US could ‘take the oil in Iran’ Global markets recoil as Marco Rubio warns war in Iran could stretch for weeks US bond market shows signs of strain as Iran war sparks Treasury tumult How has the global economy changed since ‘liberation day’? Note: The FT does not use generative AI to voice its podcasts Today’s FT News Briefing was hosted by Victoria Craig and produced by Nisha Patel and Marc Filippinio. 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 Hosted on Acast. See acast.com/privacy for more information.

Untold host Antonia Cundy uncovers the cultural and political influence of a controversial Catholic organisation in America. Opus Dei exists to help people get closer to God, but some members say they found other agendas – and unexpected harm – entangled in that spiritual mission. We meet Sarah – a young girl drawn to Opus Dei’s message that professional work can be a path to holiness. At 18, Sarah says goodbye to her family and moves into an Opus Dei centre to learn how to make her work an offering to God. But what she experiences there feels different to the organisation she thought she knew. Sarah chafes at unexpected rules, unquestioning obedience and dehumanising treatment. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

The United Arab Emirates has told allies that it would participate in a multinational maritime task force intended to reopen the Strait of Hormuz, and Hong Kong is weighing tax cuts for asset managers. Plus, London has embraced a controversial form of energy production: burning rubbish. Mentioned in this podcast: UAE pushes for international force to reopen Hormuz Hong Kong weighs ‘big bang’ tax cuts for asset managers ‘It’s good business’: how London became an ‘energy from waste’ capital 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 Fiona Symon, Mischa Frankl-Duval, Victoria Craig, and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann, 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 Hosted on Acast. See acast.com/privacy for more information.

Iran’s top military leadership dismissed Donald Trump’s claims that the Islamic republic was ready to make a deal, the US president appears to make abrupt policy pivots based on swings in oil prices, and the EU’s trade commissioner says time is running out to stop the World Trade Organization from fading into irrelevance. Plus, how worried should investors be about the caps on redemptions at private credit funds? Mentioned in this podcast: Iran’s military leaders dismiss Donald Trump’s deal claims Iran war tests Donald Trump’s tolerance for ‘pain’ in oil market Meta and Google liable for social media harm to children’s mental health in landmark US case WTO risks sliding into irrelevance, EU trade commissioner warns Private credit’s game of footsie is getting riskier Ares limits withdrawals from $10.7bn private credit fund 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 Henry Larson, Victoria Craig and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann. 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 Hosted on Acast. See acast.com/privacy for more information.

Meta and OpenAI will be among the first customers of Arm’s long-awaited new AI processor, the haven asset gold hasn’t been looking like its usual self, and Volkswagen is in talks to switch production at one its factories from cars to missile defence for Israel. Plus, Lebanon is worried Israel will push further into its southern region and occupy it. Mentioned in this podcast: Arm launches own AI chip in high-stakes strategy shift Unhedged: Is gold an unsafe haven asset? Listen to the Unhedged podcast here VW to shift from cars to missile defence in deal with Israel’s Iron Dome maker The sum of all fears for Lebanon 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 Sonja Hutson. 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 Hosted on Acast. See acast.com/privacy for more information.

Sources tell the FT that Pakistan is positioning itself as the lead mediator trying to broker an end to the US’s and Israel’s war against Iran, and the US ambassador to the EU says the bloc must implement its trade deal with the US or risk losing its “favourable” access to liquefied natural gas shipments from American exporters. Plus, carmakers are panic buying aluminium because of the Middle East conflict, and some Israeli opposition parties are being surprisingly hawkish on Iran. Mentioned in this podcast: Pakistan steps up as go-between in Trump’s Iran crisis US warns EU to pass trade deal or risk losing ‘favourable’ access to LNG Carmakers rush to secure aluminium as Middle East war hits supply Benjamin Netanyahu’s rivals compete to outdo him over Iran 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 Victoria Craig and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann. 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 Hosted on Acast. See acast.com/privacy for more information.

The World Food Project warns millions more could be pushed into acute hunger if the Strait of Hormuz remains closed. Plus, energy executives meet in Houston as war in Iran rages, and China pitches itself as a “harbour of stability” to global CEOs. And Trump escalates his rhetoric on Cuba, raising fears of U.S.-Cuba confrontation. Mentioned in this podcast: Piles of wheat and canned food stuck in transit as Iran war disrupts aid Iran war is the greatest threat to global energy ‘in history’, warns IEA Canada’s oil producers in line for C$90bn windfall from Iran war China touts itself as ‘harbour of stability’ amid Iran war Cuba hit by second nationwide power outage in a week Credit: NBC Note: 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 and Sonja Hutson. 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 Hosted on Acast. See acast.com/privacy for more information.

Investors sounded the alarm on Thursday after a major Qatar gas facility took serious damage, and amateur traders are going wild for five-minute bets. Mentioned in this podcast: ‘Armageddon scenario’ for gas markets as Qatar hit by missiles Five-minute bets are the new craze sweeping crypto markets Stocks and bonds tumble as investors price in ‘protracted energy shock’ CERAWeek conference 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 Fiona Symon, Victoria Craig, and Sonja Hutson. Our show was mixed by Kelly Garry. 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 Hosted on Acast. See acast.com/privacy for more information.

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 inflation Pakistan and Afghanistan pause hostilities after Kabul hospital attack Walmart wins patents to give algorithms more sway over prices US relaxes sanctions on Venezuela’s PDVSA amid global energy squeeze Send us your tariff story: marc.filippino@ft.com Credit: Federal Reserve Note: 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 Hosted on Acast. See acast.com/privacy for more information.

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 mergers Banks prepare to offload $18bn in debt tied to EA take-private deal Investors pile into cash at fastest pace since pandemic on Iran fears How MBS’s bet on Iran backfired Send us your tariffs story: marc.filippino@ft.com 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 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 Hosted on Acast. See acast.com/privacy for more information.

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 ends Biggest Nato allies reject Trump’s Hormuz armada demand UniCredit launches €35bn Commerzbank takeover offer Iran war tests Xi Jinping’s plan to build China’s stockpiles Hellish new planet identified beyond solar system Note: 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 Hosted on Acast. See acast.com/privacy for more information.

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 Iran EU ministers to discuss possible naval options for Strait of Hormuz Why America’s shale patch is not celebrating $100 oil Rich investors seek to pull billions from private credit funds Iran war reawakens global inflation fears Note: 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 Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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 war Iran’s new supreme leader vows to keep Strait of Hormuz closed ‘Sitting ducks’: oil tankers trapped in Gulf as Iran widens attacks on shipping Russia rakes in $150mn a day in extra revenue from surging oil prices 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 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 Hosted on Acast. See acast.com/privacy for more information.

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 shock Investors seek shelter from Iran war in US tech stocks US inflation holds steady at 2.4% in February Iran war threatens India’s ‘Goldilocks’ economy The ‘number station’ sending mystery messages to Iran 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 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. Hosted on Acast. See acast.com/privacy for more information.

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 centres Soaring fuel prices expected to cast long shadow across US economy Lloyd’s of London says it will still insure ‘basically anyone’ in the Gulf Investors ditch private credit funds on rising worries over bad loans Retail investors shun private credit funds after Blue Owl gating 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 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 Hosted on Acast. See acast.com/privacy for more information.

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 reserves Anthropic sues the Pentagon over being declared a ‘supply chain risk’ Gilt market slump deepens as traders bet on Bank of England rate rise Kharg Island: Iran’s oil lifeline that Donald Trump has left untouched Webinar: 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 Hosted on Acast. See acast.com/privacy for more information.

Iran names Ayatollah Ali Khamenei’s son, Mojtaba Khamenei, as the new supreme leader. Plus, global central bankers are eying the jump in crude prices and the impact on inflation, and Gulf businesses seek more insurance coverage as the war in Iran continues. And, fears of food price spikes are growing. Mentioned in this podcast: Mojtaba Khamenei becomes Iran’s supreme leader Oil surges past $100 a barrel for the first time in four years Qatar warns war will force Gulf to stop energy exports ‘within days’ Iran war muddles expectations of likely Federal Reserve interest rate cuts Fertiliser disruption from Iran conflict prompts global food shortage warnings Note: 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 Hosted on Acast. See acast.com/privacy for more information.

As insurance costs rocket for shipping in the Strait of Hormuz, Asian countries brace for an energy shock. The rapid expansion of American-owned data centres in the Middle East has opened up a new front for Iran’s retaliation against the US. Plus, Donald Trump fires the head of the US Department of Homeland Security, Kristi Noem, and the FT’s Joshua Franklin explains what JPMorgan wants with an historic New York City hotel. Mentioned in this podcast: Industry casts doubt on Trump plan to insure Gulf oil tankers as Iran war halts transit Asia’s big economies brace for Iran war energy shock Donald Trump fires controversial homeland security secretary Kristi Noem Pakistan thwarts JPMorgan’s efforts to buy historic New York hotel Note: The FT does not use generative AI to voice its podcasts Today’s FT News Briefing was hosted by Victoria Craig, and produced by Saffeya Ahmed and Marc Filippino. Our show was mixed by Kelly Garry. 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 Hosted on Acast. See acast.com/privacy for more information.

Israel expects war against Iran to last weeks and Ayatollah Khamenei’s son emerges as a leading candidate for supreme leader. Plus, the Federal Reserve grants crypto exchange Kraken access to its core payments system, inside the collapse of UK property lender Market Financial Solutions, and US Treasury secretary Scott Bessent says the new 15% tariff rate could start this week. Mentioned in this podcast: Ali Khamenei’s son Mojtaba emerges as a leading candidate for supreme leader of Iran Gulf insurance costs soar 12-fold despite Trump guarantee Federal Reserve grants Kraken access to payments system in first for crypto group Collapse of UK property lender sends shockwaves through Wall Street Scott Bessent says 15% global tariff ‘likely’ to be imposed this week Send your tariffs stories to marc.filippino@ft.com 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 Fiona Symon, Victoria Craig, and Henry Larson. 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. Hosted on Acast. See acast.com/privacy for more information.