<description>&lt;p&gt;Swiss lawmakers have assured senior UBS executives that they will water down stringent new rules and the Trump administration took its first step in opening the more than $10tn US retirement marketplace to private markets. Plus, as part of our series marking one year since so-called Liberation Day, the FT’s Stefania Palma explains the rocky legal future of US tariffs.&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;strong&gt;Mentioned in this podcast:&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/727eec9f-8548-45ff-8b74-88f2d5efb685?accessToken=zwAAAZ3afVCPkc9yfuyfhUhF_9OLdIjy1e-2hQE.MEYCIQDRmZjn815Euk6ktcrBFGIPIQCCvey5K93ciLb1hPI87wIhALN8H1VprNcfSMX-L7xSR6ZqmXTy0LBPsr7ZVxezHrM2&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;Swiss lawmakers signal compromise on $22bn UBS capital plan&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/f38575bf-7d7e-41a8-ae77-6e25c44de3a2?accessToken=zwAAAZ3abKLWks9R90g0ZXBKTdO_6cnIxLsXT9PzhXW_fX5BqNOud24lxE3jogE.MEUCIQC_s2-YJmytPjBkPCFWf2tguCy7BmJycLIiV5YVUcSvjAIgNdWj6TaTR5HxAbJ6ClgtTU9osazEEzHzEfp2hFNGDpQ&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;Trump to take first steps in opening retirement funds to private markets&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/51f74834-6570-4a4d-bfe9-c9c8c4bb174f?accessToken=zwAAAZ3abKLWks9R90g0ZXBKTdO_6cnIxLsXT9PzhXW_fX5BqNOud24lxE3jogE.MEUCIQC_s2-YJmytPjBkPCFWf2tguCy7BmJycLIiV5YVUcSvjAIgNdWj6TaTR5HxAbJ6ClgtTU9osazEEzHzEfp2hFNGDpQ&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;The Supreme Court sends tariffs on a turbulent descent&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/a2127804-bd1d-47d2-9e5b-8d31a907c8ca?edit=true" rel="noopener noreferrer" target="_blank"&gt;Listen to the FT News Briefing’s tariffs series here&lt;/a&gt;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Note: The FT does not use generative AI to voice its podcasts&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Today’s FT News Briefing was hosted and edited by &lt;a href="https://www.ft.com/marc-filippino" rel="noopener noreferrer" target="_blank"&gt;Marc Filippino&lt;/a&gt;, and produced by Saffeya Ahmed, Victoria Craig, and Sonja Hutson.&amp;nbsp;Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/fd2a3c77-c908-4fa2-8a0e-8ed4eb767548" rel="noopener noreferrer" target="_blank"&gt;&lt;strong&gt;Read a transcript of this episode on FT.com&lt;/strong&gt;&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;hr&gt;&lt;p style='color:grey; font-size:0.75em;'&gt; Hosted on Acast. See &lt;a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'&gt;acast.com/privacy&lt;/a&gt; for more information.&lt;/p&gt;</description>

In the second installment of our tariff series, we talk about how the courts are making a mess of the White House’s global trade policy

Swiss lawmakers have assured senior UBS executives that they will water down stringent new rules and the Trump administration took its first step in opening the more than $10tn US retirement marketplace to private markets. Plus, as part of our series marking one year since so-called Liberation Day, the FT’s Stefania Palma explains the rocky legal future of US tariffs.&nbsp; Mentioned in this podcast:<a href="https://www.ft.com/content/727eec9f-8548-45ff-8b74-88f2d5efb685?accessToken=zwAAAZ3afVCPkc9yfuyfhUhF_9OLdIjy1e-2hQE.MEYCIQDRmZjn815Euk6ktcrBFGIPIQCCvey5K93ciLb1hPI87wIhALN8H1VprNcfSMX-L7xSR6ZqmXTy0LBPsr7ZVxezHrM2&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">Swiss lawmakers signal compromise on $22bn UBS capital plan</a><a href="https://www.ft.com/content/f38575bf-7d7e-41a8-ae77-6e25c44de3a2?accessToken=zwAAAZ3abKLWks9R90g0ZXBKTdO_6cnIxLsXT9PzhXW_fX5BqNOud24lxE3jogE.MEUCIQC_s2-YJmytPjBkPCFWf2tguCy7BmJycLIiV5YVUcSvjAIgNdWj6TaTR5HxAbJ6ClgtTU9osazEEzHzEfp2hFNGDpQ&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">Trump to take first steps in opening retirement funds to private markets</a><a href="https://www.ft.com/content/51f74834-6570-4a4d-bfe9-c9c8c4bb174f?accessToken=zwAAAZ3abKLWks9R90g0ZXBKTdO_6cnIxLsXT9PzhXW_fX5BqNOud24lxE3jogE.MEUCIQC_s2-YJmytPjBkPCFWf2tguCy7BmJycLIiV5YVUcSvjAIgNdWj6TaTR5HxAbJ6ClgtTU9osazEEzHzEfp2hFNGDpQ&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">The Supreme Court sends tariffs on a turbulent descent</a><a href="https://www.ft.com/content/a2127804-bd1d-47d2-9e5b-8d31a907c8ca?edit=true" rel="noopener noreferrer" target="_blank">Listen to the FT News Briefing’s tariffs series here</a> Note: The FT does not use generative AI to voice its podcasts&nbsp; Today’s FT News Briefing was hosted and edited by <a href="https://www.ft.com/marc-filippino" rel="noopener noreferrer" target="_blank">Marc Filippino</a>, and produced by Saffeya Ahmed, Victoria Craig, and Sonja Hutson.&nbsp;Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music. <a href="https://www.ft.com/content/fd2a3c77-c908-4fa2-8a0e-8ed4eb767548" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a> <hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

The rocky legal future of Trump’s tariffs

<description>&lt;p&gt;US President Donald Trump has said he wants to ‘take the oil in Iran’ and could seize the export hub of Kharg Island. Uncertainty about what happens next in the war is sending nervousness through global markets. Plus, this week marks one year since President Trump’s so-called Liberation Day announcement. How has the global trade landscape changed since then?&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;strong&gt;Mentioned in this podcast:&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/3bd9fb6c-2985-4d24-b86b-23b7884031f5?accessToken=zwAAAZ3WhZ4hkc872ftsKYVNJNO4ayO3iEAx9QE.MEUCIGB0KY9uVwrMaOw4KwFfYi4M1r_WwWt8OEhcgMwbuuuBAiEAv2zR7TxhPQDgupyDyzEY1kMf89Ibc1PQMo3EL0U2z2I&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;Donald Trump says US could ‘take the oil in Iran’&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/4f095d4b-46cb-4ed6-90cf-aa560fba2bc1?accessToken=zwAAAZ3UrKPckc9PCV1LRstO1tOQz6pWD7orwQE.MEUCIQDKlzN6kwwdtMzA32S6K9aWrau4qFq8w96xN7pfpvMpHgIgaOP4HoV6BCCm6qKGTTNQd2tnI52IvBab-TTL2453tsA&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;Global markets recoil as Marco Rubio warns war in Iran could stretch for weeks&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/2e0185d1-3229-463c-8391-6dd09fe11886?accessToken=zwAAAZ3Vqj4nkc8uAYXRMilGPNODkW3Qn-EYhgE.MEQCIFir8BsP4netsPG1VR1yCLY-UY8ydZJFQxsZ4rgv-0WfAiBLEjCNlTGXKmGFxAJ_Uz7m6vmvJaAL2nDeUvY4ypXWog&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;US bond market shows signs of strain as Iran war sparks Treasury tumult&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/a2127804-bd1d-47d2-9e5b-8d31a907c8ca?accessToken=zwAAAZ3Ur1TmkdOiEngEvR1H0tOeW40xqQfIygE.MEUCICTEKfjLqejDHLZarrzB2cSHA5ubg_e-_RwiE5UxCq8MAiEAiuA3ZScejnPk6-D7VV76SRvsWfqL4tWNK__7RhuJ3Rc&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;How has the global economy changed since ‘liberation day’?&lt;/a&gt;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Note: The FT does not use generative AI to voice its podcasts&lt;/p&gt;&lt;br&gt;&lt;p&gt;Today’s FT News Briefing was hosted by &lt;a href="https://www.ft.com/victoria-craig" rel="noopener noreferrer" target="_blank"&gt;Victoria Craig&lt;/a&gt; and produced by Nisha Patel and Marc Filippino.&amp;nbsp;Our show was mixed by Alex Higgins. Additional help from Peter Barber. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/f52efe44-108a-46da-b9f7-1fde1b6ee402" rel="noopener noreferrer" target="_blank"&gt;&lt;strong&gt;Read a transcript of this episode on FT.com&lt;/strong&gt;&lt;/a&gt;&lt;/p&gt;&lt;hr&gt;&lt;p style='color:grey; font-size:0.75em;'&gt; Hosted on Acast. See &lt;a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'&gt;acast.com/privacy&lt;/a&gt; for more information.&lt;/p&gt;</description>

In the first installment of a new FTNB series this week, we explore how President Trump’s so-called Liberation Day has shaken up the global trade order

US President Donald Trump has said he wants to ‘take the oil in Iran’ and could seize the export hub of Kharg Island. Uncertainty about what happens next in the war is sending nervousness through global markets. Plus, this week marks one year since President Trump’s so-called Liberation Day announcement. How has the global trade landscape changed since then? Mentioned in this podcast:<a href="https://www.ft.com/content/3bd9fb6c-2985-4d24-b86b-23b7884031f5?accessToken=zwAAAZ3WhZ4hkc872ftsKYVNJNO4ayO3iEAx9QE.MEUCIGB0KY9uVwrMaOw4KwFfYi4M1r_WwWt8OEhcgMwbuuuBAiEAv2zR7TxhPQDgupyDyzEY1kMf89Ibc1PQMo3EL0U2z2I&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">Donald Trump says US could ‘take the oil in Iran’</a><a href="https://www.ft.com/content/4f095d4b-46cb-4ed6-90cf-aa560fba2bc1?accessToken=zwAAAZ3UrKPckc9PCV1LRstO1tOQz6pWD7orwQE.MEUCIQDKlzN6kwwdtMzA32S6K9aWrau4qFq8w96xN7pfpvMpHgIgaOP4HoV6BCCm6qKGTTNQd2tnI52IvBab-TTL2453tsA&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">Global markets recoil as Marco Rubio warns war in Iran could stretch for weeks</a><a href="https://www.ft.com/content/2e0185d1-3229-463c-8391-6dd09fe11886?accessToken=zwAAAZ3Vqj4nkc8uAYXRMilGPNODkW3Qn-EYhgE.MEQCIFir8BsP4netsPG1VR1yCLY-UY8ydZJFQxsZ4rgv-0WfAiBLEjCNlTGXKmGFxAJ_Uz7m6vmvJaAL2nDeUvY4ypXWog&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">US bond market shows signs of strain as Iran war sparks Treasury tumult</a><a href="https://www.ft.com/content/a2127804-bd1d-47d2-9e5b-8d31a907c8ca?accessToken=zwAAAZ3Ur1TmkdOiEngEvR1H0tOeW40xqQfIygE.MEUCICTEKfjLqejDHLZarrzB2cSHA5ubg_e-_RwiE5UxCq8MAiEAiuA3ZScejnPk6-D7VV76SRvsWfqL4tWNK__7RhuJ3Rc&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">How has the global economy changed since ‘liberation day’?</a> Note: The FT does not use generative AI to voice its podcasts Today’s FT News Briefing was hosted by <a href="https://www.ft.com/victoria-craig" rel="noopener noreferrer" target="_blank">Victoria Craig</a> and produced by Nisha Patel and Marc Filippino.&nbsp;Our show was mixed by Alex Higgins. Additional help from Peter Barber. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music. <a href="https://www.ft.com/content/f52efe44-108a-46da-b9f7-1fde1b6ee402" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a><hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

How Trump's tariffs ripped up the global trade order 

<description>&lt;p&gt;Untold host Antonia Cundy uncovers the cultural and political influence of a controversial Catholic organisation in America. Opus Dei exists to help people get closer to God, but some members say they found other agendas – and unexpected harm – entangled in that spiritual mission.&lt;/p&gt;&lt;br&gt;&lt;p&gt;We meet Sarah – a young girl drawn to Opus Dei’s message that professional work can be a path to holiness. At 18, Sarah says goodbye to her family and moves into an Opus Dei centre to learn how to make her work an offering to God. But what she experiences there feels different to the organisation she thought she knew. Sarah chafes at unexpected rules, unquestioning obedience and dehumanising treatment.&lt;/p&gt;&lt;br&gt;&lt;p&gt;Subscribe and listen on:&amp;nbsp;&lt;a href="https://podcasts.apple.com/us/podcast/untold-opus-dei/id1724826952" rel="noopener noreferrer" target="_blank"&gt;Apple Podcasts&lt;/a&gt;,&amp;nbsp;&lt;a href="https://open.spotify.com/show/1GUc0a6lsMCaTDbgIU4tgJ?si=09ccf1177eb04f24&amp;amp;nd=1&amp;amp;dlsi=b02b8f2a12b5497a" rel="noopener noreferrer" target="_blank"&gt;Spotify&lt;/a&gt;,&amp;nbsp;&lt;a href="https://pocketcasts.com/podcast/untold-opus-dei/006b38d0-9135-013c-9fe5-0acc26574db2" rel="noopener noreferrer" target="_blank"&gt;Pocket Casts&lt;/a&gt;&amp;nbsp;or wherever you listen to podcasts.&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/0ba6797e-d1c1-470a-b9ab-31f5462d5967?syn-25a6b1a6=1" rel="noopener noreferrer" target="_blank"&gt;Read a transcript of this episode on FT.com&lt;/a&gt;&lt;/p&gt;&lt;hr&gt;&lt;p style='color:grey; font-size:0.75em;'&gt; Hosted on Acast. See &lt;a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'&gt;acast.com/privacy&lt;/a&gt; for more information.&lt;/p&gt;</description>

Life inside Opus Dei

Untold host Antonia Cundy uncovers the cultural and political influence of a controversial Catholic organisation in America. Opus Dei exists to help people get closer to God, but some members say they found other agendas – and unexpected harm – entangled in that spiritual mission. We meet Sarah – a young girl drawn to Opus Dei’s message that professional work can be a path to holiness. At 18, Sarah says goodbye to her family and moves into an Opus Dei centre to learn how to make her work an offering to God. But what she experiences there feels different to the organisation she thought she knew. Sarah chafes at unexpected rules, unquestioning obedience and dehumanising treatment. Subscribe and listen on:&nbsp;<a href="https://podcasts.apple.com/us/podcast/untold-opus-dei/id1724826952" rel="noopener noreferrer" target="_blank">Apple Podcasts</a>,&nbsp;<a href="https://open.spotify.com/show/1GUc0a6lsMCaTDbgIU4tgJ?si=09ccf1177eb04f24&amp;nd=1&amp;dlsi=b02b8f2a12b5497a" rel="noopener noreferrer" target="_blank">Spotify</a>,&nbsp;<a href="https://pocketcasts.com/podcast/untold-opus-dei/006b38d0-9135-013c-9fe5-0acc26574db2" rel="noopener noreferrer" target="_blank">Pocket Casts</a>&nbsp;or wherever you listen to podcasts. <a href="https://www.ft.com/content/0ba6797e-d1c1-470a-b9ab-31f5462d5967?syn-25a6b1a6=1" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a><hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

Untold: Opus Dei, Ep. 1

<description>&lt;p&gt;The United Arab Emirates has told allies that it would participate in a multinational maritime task force intended to reopen the Strait of Hormuz, and Hong Kong is weighing tax cuts for asset managers. Plus, London has embraced a controversial form of energy production: burning rubbish.&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;strong&gt;Mentioned in this podcast:&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/aeb1cf6c-edde-486e-b437-94bbd4437912?accessToken=zwAAAZ3F3ta9kdOusc9s7d5IbtO0N5S71EN5EgE.MEQCIF_7Boec7oBxajATTvOCVut_rpjERB_gKjZG1UbNJB4VAiBVtk6YMuaqTumKK67kWlWelPeS7uZnv1O9v6m8Roz8RA&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;UAE pushes for international force to reopen Hormuz&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/b018d802-a7d1-4853-9acd-d3007a61cf72?accessToken=zwAAAZ3FyooiktOwGNgCp9FIU9OazdMAemHPcs81hSo-TLtL2NOtU5U2JeeUJwE.MEUCIQCMfVQlI_zJjcKnIwfnHCE8WKrSj7_GPa1VahJp2lfhHQIgLtpc5MrxJjXx6bsWv1I6NlcoPJn0Sotti9rpkBFwxxs&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;Hong Kong weighs ‘big bang’ tax cuts for asset managers&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/35852a3e-4cbb-4bd8-ad53-953625e79427?accessToken=zwAAAZ3FyooiktOwGNgCp9FIU9OazdMAemHPcs81hSo-TLtL2NOtU5U2JeeUJwE.MEUCIQCMfVQlI_zJjcKnIwfnHCE8WKrSj7_GPa1VahJp2lfhHQIgLtpc5MrxJjXx6bsWv1I6NlcoPJn0Sotti9rpkBFwxxs&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;‘It’s good business’: how London became an ‘energy from waste’ capital&lt;/a&gt;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Note: The FT does not use generative AI to voice its podcasts&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Today’s FT News Briefing was hosted and edited by &lt;a href="https://www.ft.com/marc-filippino" rel="noopener noreferrer" target="_blank"&gt;Marc Filippino&lt;/a&gt;, and produced by Fiona Symon, Mischa Frankl-Duval, Victoria Craig, and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann, Michael Lello and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/b063b2a0-4afe-4fa1-9bb2-beb437ac70c1" rel="noopener noreferrer" target="_blank"&gt;&lt;strong&gt;Read a transcript of this episode on FT.com&lt;/strong&gt;&lt;/a&gt;&lt;/p&gt;&lt;hr&gt;&lt;p style='color:grey; font-size:0.75em;'&gt; Hosted on Acast. See &lt;a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'&gt;acast.com/privacy&lt;/a&gt; for more information.&lt;/p&gt;</description>

Expansion of carried interest regime could mean zero levies on performance fees at hedge funds

The United Arab Emirates has told allies that it would participate in a multinational maritime task force intended to reopen the Strait of Hormuz, and Hong Kong is weighing tax cuts for asset managers. Plus, London has embraced a controversial form of energy production: burning rubbish.&nbsp; Mentioned in this podcast:<a href="https://www.ft.com/content/aeb1cf6c-edde-486e-b437-94bbd4437912?accessToken=zwAAAZ3F3ta9kdOusc9s7d5IbtO0N5S71EN5EgE.MEQCIF_7Boec7oBxajATTvOCVut_rpjERB_gKjZG1UbNJB4VAiBVtk6YMuaqTumKK67kWlWelPeS7uZnv1O9v6m8Roz8RA&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">UAE pushes for international force to reopen Hormuz</a><a href="https://www.ft.com/content/b018d802-a7d1-4853-9acd-d3007a61cf72?accessToken=zwAAAZ3FyooiktOwGNgCp9FIU9OazdMAemHPcs81hSo-TLtL2NOtU5U2JeeUJwE.MEUCIQCMfVQlI_zJjcKnIwfnHCE8WKrSj7_GPa1VahJp2lfhHQIgLtpc5MrxJjXx6bsWv1I6NlcoPJn0Sotti9rpkBFwxxs&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">Hong Kong weighs ‘big bang’ tax cuts for asset managers</a><a href="https://www.ft.com/content/35852a3e-4cbb-4bd8-ad53-953625e79427?accessToken=zwAAAZ3FyooiktOwGNgCp9FIU9OazdMAemHPcs81hSo-TLtL2NOtU5U2JeeUJwE.MEUCIQCMfVQlI_zJjcKnIwfnHCE8WKrSj7_GPa1VahJp2lfhHQIgLtpc5MrxJjXx6bsWv1I6NlcoPJn0Sotti9rpkBFwxxs&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">‘It’s good business’: how London became an ‘energy from waste’ capital</a> Note: The FT does not use generative AI to voice its podcasts&nbsp; Today’s FT News Briefing was hosted and edited by <a href="https://www.ft.com/marc-filippino" rel="noopener noreferrer" target="_blank">Marc Filippino</a>, and produced by Fiona Symon, Mischa Frankl-Duval, Victoria Craig, and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann, Michael Lello and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music. <a href="https://www.ft.com/content/b063b2a0-4afe-4fa1-9bb2-beb437ac70c1" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a><hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

Hong Kong woos asset managers with potential tax cuts

<description>&lt;p&gt;Iran’s top military leadership dismissed Donald Trump’s claims that the Islamic republic was ready to make a deal, the US president appears to make abrupt policy pivots based on swings in oil prices, and the EU’s trade commissioner says time is running out to stop the World Trade Organization from fading into irrelevance. Plus, how worried should investors be about the caps on redemptions at private credit funds?&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;strong&gt;Mentioned in this podcast:&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/108ece44-f262-4b90-b2ad-742add22efcf?accessToken=zwAAAZ3Ahegglc8Qjs5E8mJLkNOyrXQq3SLvz9O8YDfW1s9BF9OesDEZVuqd0dOdq1qT6qNEMNO9_FQYnx1W99OdGFnwL5NP8dOM-4BGNCv59896FlbaDalGmtOaKZt5fLJtjgE.MEUCIA7ZM7XfKU3vi-kYSyuCfitSZBOqRtHUS71xtE6ajNz4AiEArDX_lAUHopn56BJzWFwiUGM85YCHFLvqpVQZw0ncxHI&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;Iran’s military leaders dismiss Donald Trump’s deal claims&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/bc6037d6-d6cf-4117-9eb0-311956ea9dd1?accessToken=zwAAAZ3Ahegglc8Qjs5E8mJLkNOyrXQq3SLvz9O8YDfW1s9BF9OesDEZVuqd0dOdq1qT6qNEMNO9_FQYnx1W99OdGFnwL5NP8dOM-4BGNCv59896FlbaDalGmtOaKZt5fLJtjgE.MEUCIA7ZM7XfKU3vi-kYSyuCfitSZBOqRtHUS71xtE6ajNz4AiEArDX_lAUHopn56BJzWFwiUGM85YCHFLvqpVQZw0ncxHI&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;Iran war tests Donald Trump’s tolerance for ‘pain’ in oil market&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/d3d80bd4-d2b1-4522-9752-4071df5b4c0a?accessToken=zwAAAZ3CGaRFkdPT2AvU0rFFItOXUkBx31tMCgE.MEUCIBIGrf-GqVblC3eh0SzrUmN3N1jc45OXhuqbs20kYxVxAiEA-FOtpVBpYwCSaa3alDKbGiwX-g-x9woR0Bb48Npcb6k&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;Meta and Google liable for social media harm to children’s mental health in landmark US case&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/9dab5a93-eaa3-4430-bdfc-54189f1d56f7?accessToken=zwAAAZ3Ahegglc8Qjs5E8mJLkNOyrXQq3SLvz9O8YDfW1s9BF9OesDEZVuqd0dOdq1qT6qNEMNO9_FQYnx1W99OdGFnwL5NP8dOM-4BGNCv59896FlbaDalGmtOaKZt5fLJtjgE.MEUCIA7ZM7XfKU3vi-kYSyuCfitSZBOqRtHUS71xtE6ajNz4AiEArDX_lAUHopn56BJzWFwiUGM85YCHFLvqpVQZw0ncxHI&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;WTO risks sliding into irrelevance, EU trade commissioner warns&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/5bb2a212-6c2b-4a07-a858-55e3fd8d1bdb?accessToken=zwAAAZ3BbMMFkc9bsqISbCtKB9OoWFXj_Y0b2wE.MEUCIA0FoVRa_xvaZaKbmg4X8ZtgcH_awsvkMYSncJx0-giSAiEArTPsAUJuZAKEHj1eh5rQ9Chah4ySJCgS1fwYNqmwMKQ&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;Private credit’s game of footsie is getting riskier&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/9a1b60c5-7015-4314-9608-d02c00c3a574?accessToken=zwAAAZ3BbmLqkdOaG2DFcBVDFNOWCNAsAMOldAE.MEYCIQCWbXPY8g_Puh6U8VCDGtBrUZDTL5QortyQGoJPvP_wfwIhAMD7al0xDYISIIuNLb52zw-0Rj0HjP30tIDtJJhT9SGP&amp;amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank"&gt;Ares limits withdrawals from $10.7bn private credit fund&lt;/a&gt;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Note: The FT does not use generative AI to voice its podcasts&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Today’s FT News Briefing was hosted and edited by &lt;a href="https://www.ft.com/marc-filippino" rel="noopener noreferrer" target="_blank"&gt;Marc Filippino&lt;/a&gt;, and produced by Henry Larson, Victoria Craig and Sonja Hutson.&amp;nbsp;Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/270102a6-772b-416a-ac03-e5b4fbe14d91" rel="noopener noreferrer" target="_blank"&gt;&lt;strong&gt;Read a transcript of this episode on FT.com&lt;/strong&gt;&lt;/a&gt;&lt;/p&gt;&lt;hr&gt;&lt;p style='color:grey; font-size:0.75em;'&gt; Hosted on Acast. See &lt;a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'&gt;acast.com/privacy&lt;/a&gt; for more information.&lt;/p&gt;</description>

US president appears to make abrupt policy pivots based on swings in crude prices

Iran’s top military leadership dismissed Donald Trump’s claims that the Islamic republic was ready to make a deal, the US president appears to make abrupt policy pivots based on swings in oil prices, and the EU’s trade commissioner says time is running out to stop the World Trade Organization from fading into irrelevance. Plus, how worried should investors be about the caps on redemptions at private credit funds? Mentioned in this podcast:<a href="https://www.ft.com/content/108ece44-f262-4b90-b2ad-742add22efcf?accessToken=zwAAAZ3Ahegglc8Qjs5E8mJLkNOyrXQq3SLvz9O8YDfW1s9BF9OesDEZVuqd0dOdq1qT6qNEMNO9_FQYnx1W99OdGFnwL5NP8dOM-4BGNCv59896FlbaDalGmtOaKZt5fLJtjgE.MEUCIA7ZM7XfKU3vi-kYSyuCfitSZBOqRtHUS71xtE6ajNz4AiEArDX_lAUHopn56BJzWFwiUGM85YCHFLvqpVQZw0ncxHI&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">Iran’s military leaders dismiss Donald Trump’s deal claims</a><a href="https://www.ft.com/content/bc6037d6-d6cf-4117-9eb0-311956ea9dd1?accessToken=zwAAAZ3Ahegglc8Qjs5E8mJLkNOyrXQq3SLvz9O8YDfW1s9BF9OesDEZVuqd0dOdq1qT6qNEMNO9_FQYnx1W99OdGFnwL5NP8dOM-4BGNCv59896FlbaDalGmtOaKZt5fLJtjgE.MEUCIA7ZM7XfKU3vi-kYSyuCfitSZBOqRtHUS71xtE6ajNz4AiEArDX_lAUHopn56BJzWFwiUGM85YCHFLvqpVQZw0ncxHI&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">Iran war tests Donald Trump’s tolerance for ‘pain’ in oil market</a><a href="https://www.ft.com/content/d3d80bd4-d2b1-4522-9752-4071df5b4c0a?accessToken=zwAAAZ3CGaRFkdPT2AvU0rFFItOXUkBx31tMCgE.MEUCIBIGrf-GqVblC3eh0SzrUmN3N1jc45OXhuqbs20kYxVxAiEA-FOtpVBpYwCSaa3alDKbGiwX-g-x9woR0Bb48Npcb6k&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">Meta and Google liable for social media harm to children’s mental health in landmark US case</a><a href="https://www.ft.com/content/9dab5a93-eaa3-4430-bdfc-54189f1d56f7?accessToken=zwAAAZ3Ahegglc8Qjs5E8mJLkNOyrXQq3SLvz9O8YDfW1s9BF9OesDEZVuqd0dOdq1qT6qNEMNO9_FQYnx1W99OdGFnwL5NP8dOM-4BGNCv59896FlbaDalGmtOaKZt5fLJtjgE.MEUCIA7ZM7XfKU3vi-kYSyuCfitSZBOqRtHUS71xtE6ajNz4AiEArDX_lAUHopn56BJzWFwiUGM85YCHFLvqpVQZw0ncxHI&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">WTO risks sliding into irrelevance, EU trade commissioner warns</a><a href="https://www.ft.com/content/5bb2a212-6c2b-4a07-a858-55e3fd8d1bdb?accessToken=zwAAAZ3BbMMFkc9bsqISbCtKB9OoWFXj_Y0b2wE.MEUCIA0FoVRa_xvaZaKbmg4X8ZtgcH_awsvkMYSncJx0-giSAiEArTPsAUJuZAKEHj1eh5rQ9Chah4ySJCgS1fwYNqmwMKQ&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">Private credit’s game of footsie is getting riskier</a><a href="https://www.ft.com/content/9a1b60c5-7015-4314-9608-d02c00c3a574?accessToken=zwAAAZ3BbmLqkdOaG2DFcBVDFNOWCNAsAMOldAE.MEYCIQCWbXPY8g_Puh6U8VCDGtBrUZDTL5QortyQGoJPvP_wfwIhAMD7al0xDYISIIuNLb52zw-0Rj0HjP30tIDtJJhT9SGP&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">Ares limits withdrawals from $10.7bn private credit fund</a> Note: The FT does not use generative AI to voice its podcasts&nbsp; Today’s FT News Briefing was hosted and edited by <a href="https://www.ft.com/marc-filippino" rel="noopener noreferrer" target="_blank">Marc Filippino</a>, and produced by Henry Larson, Victoria Craig and Sonja Hutson.&nbsp;Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music. <a href="https://www.ft.com/content/270102a6-772b-416a-ac03-e5b4fbe14d91" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a><hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

Investors try to stay ahead of Trump’s Iran moves

A rundown of the most important global business stories you need to know for the coming day, from the newsroom of the Financial Times. Available every weekday morning.<hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

A rundown of the most important global business stories you need to know for the coming day, from the newsroom of the Financial Times. Available every weekday morning.

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