FT News Briefing

US threatens Iran’s economic partners

Scott Bessent said the US would expand the scope of secondary sanctions on Iran, and JPMorgan Chase is relaxing its approach to lending money against shares in companies that have recently gone public. Plus, US private equity growth funds raised a record amount of capital in the first half of this year, and Pakistan’s focus on securing US financing is a big shift after years of relying on state loans from China.Mentioned in this podcast:Scott Bessent threatens more US sanctions on Iran’s economic partnersJPMorgan eases approach on lending against shares to court AI’s new wealthPrivate equity growth funds attract record first-half inflows as sector reboundsPakistan seeks US funding in shift from reliance on ChinaCredit: NBC NewsWant to get in touch? Email us at podcasts@ft.comNote: The FT does not use generative AI to voice its podcasts The FT News Briefing is produced by Victoria Craig, Sonja Hutson, and Saffeya Ahmed. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips 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.

Warsh heads to Jackson Hole as economic worries mount

US Federal Reserve chair Kevin Warsh will seek to soothe investors’ nerves at this week’s Jackson Hole symposium, Andy Burnham is headed to Ukraine for his first overseas trip as Britain’s prime minister, and Saudi Arabia held talks with London brokers for a state-backed war insurance scheme. Plus, we take a deep dive into an investment giant that’s slowly unravelling, and Canada’s prime minister says the country is “at war” with the US over trade. Mentioned in this podcast:Warsh seeks to soothe investors’ nerves as signs of economic strain mountBurnham to pledge support for long-range missile construction in UkraineMark Walter’s unravelling empire tests the insurance trade behind private credit’s riseMark Carney says Canada ‘at war’ with US over tradeWant to get in touch? Email us at podcasts@ft.comNote: The FT does not use generative AI to voice its podcasts The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, and Katya Kumkova. Our editor is Marc Filippino. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Support this week from Kelly Garry. Our executive producer is Topher Forhecz. Flo Phillips 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.

Why the energy crisis won’t save western oil refineries

Investors have warned that Treasury secretary Scott Bessent’s attempts to slash long-term US borrowing costs are doomed to fail, and European oil refinery capacity is set to shrink by a fifth over the next decade. Plus, Shanghai’s answer to the Nasdaq index is benefiting from an investor frenzy for Chinese technology stocks, and a Chinese court has sentenced Evergrande founder Hui Ka Yan to life in prison.Mentioned in this podcast:Scott Bessent takes on the bond vigilantesWestern oil refinery closures set to continue despite war shockShanghai’s answer to Nasdaq outstrips Hong Kong amid Chinese tech frenzyFounder of collapsed Chinese property giant given life sentenceCredit: CNBC Want to get in touch? Email us at podcasts@ft.comNote: The FT does not use generative AI to voice its podcasts The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, and Katya Kumkova. Our editor is Marc Filippino. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips 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.

US Treasury tries to soothe the bond market

Shares in vaccine-maker Moderna lept after it reported successful trial results for an experimental cancer vaccine, and the US Treasury department will at least double the size of its buyback of long-term government debt. Plus, top US legal firms are sparking controversy for hiring students in their first few months of law school and Irish pubs are disappearing. Mentioned in this podcast:US Treasury to double buybacks of long-term government debtModerna shares double on melanoma vaccine trial successTop US law firms hit by backlash over ‘crazy’ hiring of first-year studentsDeath stalks the Irish pubWant to get in touch? Email us at podcasts@ft.comNote: The FT does not use generative AI to voice its podcasts The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, and Katya Kumkova. Our editor is Marc Filippino. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips 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.

Borrowing costs hit multi-decade highs

Iran has weighed attacking US military targets in Europe should Donald Trump escalate the war, according to people close to the regime. Long-term borrowing costs across major economies hit multi-decade highs, and Revolut has proposed increasing the amount chief executive Nik Storonsky can borrow against his stake in the fintech fivefold. Plus, US President Donald Trump is presiding over an unlikely clean energy boom. Mentioned in this podcast:Iran eyes targets in Europe if US escalates war, insiders sayGovernment borrowing costs hit multi-decade highsRevolut to let Nik Storonsky borrow up to $250mn against his stake Trump’s renewables boomVenomous sea creatures plague Europe’s warming beachesWant to get in touch? Email us at podcasts@ft.comNote: The FT does not use generative AI to voice its podcasts The FT News Briefing is produced by Victoria Craig, Sonja Hutson, and Saffeya Ahmed. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips 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.