<p>UBS chief executive Sergio Ermotti is planning to step down in April 2027, and Paramount threatened a proxy fight in its latest move to force Warner Bros Discovery back to the negotiating table. Plus, the FT’s Robert Armstrong explains what could come next in US President Donald Trump’s crackdown on the Federal Reserve.&nbsp;</p><br><p><strong>Mentioned in this podcast:</strong></p><p><a href="https://on.ft.com/4qPNB1h" rel="noopener noreferrer" target="_blank">UBS boss Sergio Ermotti plans to step down in April 2027</a></p><p><a href="https://on.ft.com/49wVqSN" rel="noopener noreferrer" target="_blank">Paramount threatens proxy fight in battle for Warner Bros Discovery</a></p><p><a href="https://on.ft.com/4qqqw5S" rel="noopener noreferrer" target="_blank">What is behind the criminal investigation into Jay Powell?</a></p><p><a href="https://on.ft.com/4b1o5ln" rel="noopener noreferrer" target="_blank">Former Fed chiefs attack DoJ probe into Jay Powell</a></p><p><a href="http://ft.com/briefingsale" rel="noopener noreferrer" target="_blank">FT subscription sale&nbsp;&nbsp;</a></p><br><p>Note: The FT does not use generative AI to voice its podcasts&nbsp;</p><br><p>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 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.</p><br><p><a href="https://www.ft.com/content/7dc9a994-f095-4e6b-86a8-7e8a1ae6ed63" rel="noopener noreferrer" target="_blank"><strong>Read a transcript of this episode on FT.com</strong></a></p><hr><p style='color:grey; font-size:0.75em;'> 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.</p>