The US Supreme Court set out to answer a big constitutional question on Thursday: can a president be charged for potential crimes committed while in office? The FT’s Washington bureau chief, James Politi, and US legal and enforcement correspondent, Stefania Palma, join this week’s Swamp Notes to explain why the answer could determine the outcome of Donald Trump’s federal trials and the future of the American presidency.

Mentioned in this podcast:

US Supreme Court debates limits of presidential immunity in Donald Trump appeal

Donald Trump prepares his final pitch on presidential immunity

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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: CNN

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Microsoft beat expectations for revenue and cloud sales, Alphabet shares rise by double-digits after first-quarter earnings beat expectations, markets are no longer fully confident of a US interest rate cut before September, and the EU is turning to draconian tactics to curb migration. Plus, a merger between mining giants BHP and Anglo American could get investors excited about the industry again. 

Mentioned in this podcast:

Alphabet shares surge past $2tn after search giant unveils first ever dividend

Microsoft’s revenue and cloud sales beat expectations

Biden dealt blow as investors scale back bets on pre-election rate cut

Why is BHP bidding for Anglo American?

BHP proposes £31bn takeover of Anglo American in mining mega-deal

How Europe is paying other countries to police its borders

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

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Meta’s revenues jumped by more than a quarter in the first three months of the year, Brussels raided the offices of a Chinese security equipment supplier, and earnings from Boeing reflected a slowdown of 737 Max production and compensation to customers. Plus, weapon shipments are heading to Ukraine after President Joe Biden signed a highly anticipated $95bn foreign aid bill. 

Mentioned in this podcast:

Meta shares fall as it predicts higher expenditure on AI

EU conducts ‘dawn raid’ on Chinese security equipment supplier

Pentagon rushes $1bn in weapons to Kyiv after Biden signs aid bill

Joe Biden tells Volodymyr Zelenskyy US weapons will arrive ‘quickly’

Boeing burns through $4bn in first quarter after door plug blowout

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by 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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Tesla reported a 9 per cent decline in first-quarter revenue, Spotify kicked off a more mature era for its business after years of freer spending, and the US Federal Trade Commission banned non-compete clauses for employees. Plus, international investors have rushed into Egypt’s debt after the most populous Arab nation secured a $55bn bailout.

Mentioned in this podcast:

Tesla revenue declines in first quarter as vehicle sales slow

Spotify hits record quarterly profit as it enters ‘new phase’

US FTC bans non-compete agreements

Demand for Egyptian debt surges after $55bn bailout and investment package

Latin American cocoa farmers rush to expand planting as prices spike

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Denise Guerra, Katya Kumkova, 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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The New York Stock Exchange is polling market participants on the merits of trading stocks around the clock, ByteDance ready to ‘move to the courts’ after the US pushes ahead with a bill demanding the Chinese parent sell its viral app in the country, and traders have built up bets that the Federal Reserve could actually raise interest rates. Plus, Goldman Sachs has relocated its head of financial institutions group for Europe from London to Paris.

Mentioned in this podcast:

Goldman Sachs moves senior banker to Paris in post-Brexit revamp

TikTok gears up for legal fight in US to prevent ban

Investors price in growing chance of further Fed rate rises

New York Stock Exchange tests views on round-the-clock trading

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

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Tesla shareholders are bracing for the carmaker’s worst earnings performance in seven years, oil markets have remained steady as Middle East tensions rise, and China’s first-quarter GDP shows the effects of President Xi Jinping’s bet on manufacturing. 

Mentioned in this podcast:

Tesla shareholders braced for worst results in 7 years

Why oil prices remain steady even as Middle East tensions escalate

Covid vaccine makers to clash in London over mRNA patent dispute

China warns west of ‘survival of the fittest’ as manufacturing boosts economy

Parisians struggle to cash in on Olympic Games rentals

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by 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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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. Credit: The Independent, The Times and the Sunday Times

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. 

Read a transcript of this episode on FT.com

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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

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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

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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

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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.