Truss’s possible U-turn on tax cuts

Investors shrugged off another high US inflation report and Liz Truss could be about to rip up her ‘mini’ Budget. New US export controls force global semiconductor equipment makers to suspend sales and services to Chinese chip companies.

Mentioned in this podcast:

US consumer prices rise sharply despite Federal Reserve rate increases

US stocks shrug off early declines following hot inflation report

Liz Truss in crisis talks on new tax cut U-turn

World’s top chip equipment suppliers halt business with China

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. 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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