Are the Democrats doomed? Which world leaders are happiest to see Trump back in the White House? And why are investors flooding into American stocks? The FT’s US managing editor Peter Spiegel and global business columnist Rana Foroohar answer all of your questions after a wild year in US politics. 

Mentioned in this podcast:

Trump team aims to bankrupt Iran with new ‘maximum pressure’ plan

How ‘the mother of all bubbles’ will pop

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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. 

Read a transcript of this episode on FT.com

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A number of cryptocurrency-focused hedge funds are outpacing their rivals, the Bank of England holds interest rates at 4.75 per cent, and Microsoft has partnered with a utility company to restart a controversial reactor at Three Mile Island.

Mentioned in this podcast:

Hedge funds cash in on Trump-fuelled crypto boom 

Bank of England holds interest rates at 4.75%

Behind the Money: How the AI boom is reviving Three Mile Island

The FT News Briefing is produced by Niamh Rowe, 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 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

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

The Federal Reserve cuts interest rates by a quarter-point but signals a slower pace of easing, and we look back at what central banks learned in 2024. The US Supreme Court says it will hear TikTok’s appeal against a divest-or-ban law, and Honda-Nissan talks aim to rescue Japan’s fragmented automotive industry.

Mentioned in this podcast:

Fed cuts rates by a quarter-point but signals slower pace of easing 

Five central banking lessons for 2024

US Supreme Court to hear arguments challenging law that could ban TikTok 

Honda-Nissan merger talks mark Japan Inc’s new consolidate-to-survive mood

The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Marine Saint, 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

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

Argentina emerged from a severe recession in the third quarter, Microsoft buys twice as many of Nvidia’s chips as any of its largest rivals, KPMG narrows the gap with the other Big Four firms, and Huawei sets sights on becoming a big supplier to the electric car industry. Plus, pub chains express frustration over shortages of Guinness in the run-up to Christmas.

Mentioned in this podcast:

Microsoft acquires twice as many Nvidia AI chips as tech rivals 

Argentina’s economy exits recession in milestone for Javier Milei

KPMG outpaces Big Four rivals as audit and tax units shine 

‘A different animal’: inside Huawei’s nascent EV business 

Diageo ‘better get brewing’, says Wetherspoons head amid Guinness shortage  

The FT News Briefing is produced by Niamh Rowe, 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 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

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

Japan’s SoftBank unveils $100bn US investment plans, fervour around Nvidia cools as investors look to AI’s next winners, and Europe launches its most ambitious space programme in a decade. Plus, in Syria, Kurdish groups fear they may be worse off under a rebel-led government.

Mentioned in this podcast: 

Japan’s SoftBank pledges $100bn investment in US 

After Nvidia’s boom, what’s next for AI-related stocks?  

Europe signs €10.6bn Iris² satellite deal in bid to rival Elon Musk’s Starlink 

Syria’s Kurds fear US betrayal under Donald Trump 

Credit: AP

Send us your questions for Swamp Notes! Write to [email protected].

The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Marine Saint, 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

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

Germany’s Olaf Scholz is expected to lose a confidence vote in parliament on Monday, and Arm and Qualcomm’s bitter legal feud over chip design licensing is heading to trial. The London Stock Exchange is on course for its worst year for departures since the financial crisis. Plus, investors’ appetite for juicy returns has triggered a big boom on Wall Street in complex financial products. 

Mentioned in this podcast:

Olaf Scholz faces confidence vote — and hopes to lose it

Wall Street’s complex debt bonanza hits fastest pace since 2007

London Stock Exchange suffers biggest exodus since financial crisis

Chip groups Arm and Qualcomm square off in high-stakes US trial 

‘No political authority’: South Korea’s interim leader faces daunting task

Send us your questions for Swamp Notes! Write to [email protected].

The FT News Briefing is produced by Niamh Rowe, 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 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

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

Europe has been able to predictably lean on the US for decades. But Donald Trump used tariffs and other economic threats to test those assumptions in his first term, and he looks set to do so again. The FT’s EU correspondent Andy Bounds and US climate correspondent Aime Williams join to discuss how the EU is preparing (again) for a more confrontational America. 

Mentioned in this podcast:

EU strikes blockbuster trade deal with Mercosur

EU commissioner pitches ‘Europe first’ in response to Donald Trump

Sign up for the FT’s Swamp Notes newsletter here

Questions about US politics for next week’s Swamp Notes? Email them to [email protected]. 

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

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

HSBC is reviewing its retail banking operations outside the UK and Hong Kong, and the European Central Bank cut interest rates by a quarter-point to 3 per cent. The FT’s markets columnist Katie Martin provides a few insights for investing in 2025. Plus, human referees are set to be increasingly phased out as machines become more efficient at making critical decisions in sport.  

Mentioned in this podcast:

HSBC reviews retail banking outside UK and Hong Kong

Donald Trump election win sparks trading surge for banks and brokers

​​ECB lowers rates to 3% and paves way for more cuts

In sport, the race is on to let technology decide who wins

Send us your questions for Swamp Notes! Write to [email protected].

The FT News Briefing is produced by Niamh Rowe, 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 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

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

European Nato members are holding talks about increasing the alliance’s target for defence spending, Microsoft’s artificial intelligence head Mustafa Suleyman is building a team focused on consumer health, and US inflation ticked up to 2.7 per cent last month. Plus, new regulations on human rights are forcing global companies to address concerns about modern slavery and tackle problems in their supply chains.

Mentioned in this podcast:

Nato’s European members discuss 3% target for defence spending 

Microsoft’s Suleyman hires ex-DeepMind staff for AI health unit

US inflation rose to 2.7% in November

New rules sharpen investment focus on modern slavery 

Fifa set to confirm Saudi Arabia as host of 2034 World Cup    

The FT News Briefing is produced by Niamh Rowe, 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 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

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

Qatar’s sovereign wealth fund prepares for a petrodollar windfall, while oil majors scale back their $18bn power generation push. Israeli Prime Minister Benjamin Netanyahu begins testifying in a corruption trial, and public pension schemes and sovereign wealth funds plan to pour more money into private markets over the coming year. 

Mentioned in this podcast:

Qatar’s $500bn wealth fund targets bigger deals as LNG windfall looms 

BP and Shell rein in electricity ambitions to escape ‘valley of death’ 

Benjamin Netanyahu arrives in court to testify in corruption trial

Public pension plans and wealth funds to invest more in private markets   

The FT News Briefing is produced by Niamh Rowe, 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 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

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

Hiring has fallen more sharply in the UK than in other big economies over the past year, Vanguard will break its advisory business into a separate unit, and Israel has taken more Syrian territory. Plus, we take a look inside Japan’s audacious bid to become a semiconductor superpower. 

Mentioned in this podcast:

Hiring falling more sharply in UK than in other major economies 

Israel draws furious reaction from Egypt after taking more Syrian territory 

Vanguard to accelerate wealth management drive in restructuring 

Japan’s audacious bid to become a semiconductor superpower 

Christie’s has brought the dinosaur auction show to London 

The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Josh Gabert-Doyon, 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

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