FT News Briefing

The White House and Democratic leaders reach an agreement to raise the US’s $22tn borrowing limit which takes it beyond the next election, Donald Trump promises major US technology companies that his administration will process their application to supply Huawei quickly, Washington issues sanctions against one of China’s largest state-backed oil companies for transporting Iranian crude oil and Starbucks takes a stake in Eatsa, a San Francisco-based restaurant tech company. Plus, Boris Johnson is widely expected to become the leader of the UK Conservative party on Tuesday. The FT’s political editor George Parker previews what is ahead for Britain with Boris Johnson as prime minister.  See acast.com/privacy for privacy and opt-out information.

Hong Kong protesters escalate demonstrations by targeting Chinese government offices,  UK defence minister Tobias Ellwood rejects claims that the government could have stopped Iranian forces from capturing a British-flagged tanker, early exit polls indicate that Ukraine President Volodymyr Zelensky’s party of neophyte politicians have won Sunday’s snap parliamentary election and Prime Minister Shinzo Abe’s ruling coalition wins a clear majority in Japan’s upper house. Plus, the FT’s Gideon Long explains how Colombia is positioning itself as a major producer of cannabis as medical marijuana becomes more popular.  See acast.com/privacy for privacy and opt-out information.

President Donald Trump says the US navy has shot down an Iranian drone after it threatened an American warship, Boeing says it will take a $4.9bn after-tax charge in the second quarter related to the grounding of the 737 Max jet and the Federal Reserve Bank of New York president stokes expectations of an aggressive half-point cut in US interest rates this month. Plus, WeWork founder Adam Neumann has sold his shares, Microsoft’s cloud business fuels growth as the software company tops earnings forecasts and 2019 is shaping to be a record-setting year for private equity deals.  See acast.com/privacy for privacy and opt-out information.

Netflix falls short of its own forecasts for new subscribers, G7 finance ministers struggle to reach a compromise on how to tax Big Tech and US President Donald Trump expels Turkey from the US-led F-35 fighter jet programme. Plus, the FT’s Gregory Meyer explains how signs of a slowing US economy are starting to show up on the nation’s railways.  See acast.com/privacy for privacy and opt-out information.

Lower rates squeeze US bank lending margins, Ursula von der Leyen narrowly secures parliamentary backing for her appointment as European Commission president and United Airlines raises its outlook for the full year despite the financial impact of the grounding of the carrier’s 737 Max fleet. Plus, the FT’s Kiran Stacey reports on Big Tech’s day in Washington.  See acast.com/privacy for privacy and opt-out information.

Democratic congresswomen call Donald Trump’s attacks a “distraction” after the US president doubles down on his statement, US Treasury secretary Steven Mnuchin says Facebook has “a lot of work to do” before the Trump administration will let it proceed with its planned cryptocurrency and money manager Jeffrey Epstein discloses his assets in a court filing after being charged with the sex trafficking of underage girls. Plus, the FT’s Ahmed Al Omran explains how Saudi Arabia is reviving its efforts to  draw dissidents home.  See acast.com/privacy for privacy and opt-out information.

The acting IMF chief, David Lipton, backs new monetary stimulus by the world’s top central banks, Warner Music buys First Night Records and equity investors brace for the second successive drop in US quarterly profits. Plus, US banks are set to report second-quarter results this week. The FT’s Robert Armstrong explains what investors will be watching.   See acast.com/privacy for privacy and opt-out information.

President Donald Trump issues an executive order to collect all information in US government databases about who is an American citizen, Boeing says the head of its 737 programme will retire at the end of this year and we take a look at China’s economy ahead of the release of its second-quarter growth figures. Plus, Hannah Kuchler explains why some drugmakers are braced for an opioid crisis reckoning.  See acast.com/privacy for privacy and opt-out information.

The Trump administration launches an investigation into French plans to bring in a special tax targeting big tech companies and Amazon Music becomes the fastest-growing streaming service. Plus, Federal Reserve chairman Jay Powell cemented the case for an interest rate cut in his testimony to US Congress. The FT’s James Politi explains.  See acast.com/privacy for privacy and opt-out information.

Mexico’s finance minister, Carlos Urzúa, resigns over differences with President Andrés Manuel López Obrador, Levi Strauss shares slip after IPO costs weigh on its second quarter earnings and Boris Johnson dodges questions about Brexit and US relations in a UK Conservative party leadership debate. Plus, the FT’s Joe Rennison tells us about a new menace popping up in the leveraged loan market.  See acast.com/privacy for privacy and opt-out information.

Chinese venture capital investment in US biotech falls as Washington tightens scrutiny of funding from overseas, German chemicals group BASF cuts its full-year forecast and warns that second-quarter profits would almost halve and Deutsche Bank begins the culling of 18,000 jobs, with whole teams of equity traders being dismissed. Plus, the FT’s US legal and enforcement correspondent, Kadhim Shubber, explains the sex trafficking charges against money manager Jeffrey Epstein.   See acast.com/privacy for privacy and opt-out information.

Iran says it will breach the curbs on uranium enrichment levels set under the 2015 nuclear agreement with major powers, Greece’s traditional centre-right party is set to regain power after a sweeping general election victory and a survey of fund managers shows that investors are buckling up for a global recession. Plus, Deutsche Bank has unveiled plans to overhaul the struggling German lender. The FT’s European banking correspondent, Stephen Morris, breaks down the details.  See acast.com/privacy for privacy and opt-out information.

British Marines and Gibraltar police seize a tanker suspected of carrying Iranian oil to Syria, the Womens’ World Cup reaches its finale, but will the expected winners take up their invitation to the White House? Who are the main contenders to replace Christine Lagarde as IMF chief? Plus, chief features writer Henry Mance on the pressure US space agency Nasa is under to put astronauts back on the moon by 2024  See acast.com/privacy for privacy and opt-out information.

US stocks closed at record highs on Wednesday alongside a bond rally as investors anticipated looser monetary policies from central banks, Huawei founder Ren Zhengfei predicts the next battle with the US will be over the Chinese telecom company’s push into the internet of things and Boeing pledges to commit $100m to help address the needs of families affected by two deadly crashes of its 737 Max jet. Plus, the FT’s Frankfurt bureau chief, Claire Jones, explains what Christine Lagarde is set to inherit at the European Central Bank.   See acast.com/privacy for privacy and opt-out information.

European leaders agree to back Christine Lagarde as president of the European Central Bank and Ursula von der Leyen as president of the European Commission, Tesla reports record production and delivery figures for its latest quarter, the Trump administration abandons its efforts to include a citizenship question in the 2020 census and President Donald Trump says he will nominate Fed critic Judy Shelton and St Louis Fed official Christopher Waller to the board of the Federal Reserve. Plus, the FT’s Richard Henderson explains a radical shift taking place in capital markets.   See acast.com/privacy for privacy and opt-out information.