Australia wants its port back
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 5 August 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
US President Donald Trump wants to raise tariffs on India and the CEO of Deutsche Bank approved a controversial trade he was later tasked with probing. Plus, Australia wants a port they sold to China back, and Tesla’s board gave chief executive Elon Musk $30bn worth of shares after threats from him to resign.
Mentioned in this podcast:
Donald Trump to raise tariffs on India over Russian oil purchases
Deutsche Bank chief approved controversial trade he was later tasked with probing
The remote Australian port caught in a US-China security tussle
Tesla board awards $30bn of shares to ‘energise and focus’ Elon Musk
Today’s FT News Briefing was produced by Fiona Symon, Sonja Hutson, and Marc Filippino. Additional help from Blake Maples, Michael Lello, David da Silva and Gavin Kallmann. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | For over 40 years, Equinoor has been an energy partner to the UK. |
| 0:04.1 | During that time, we've played our part in the switch from coal to gas, |
| 0:07.1 | and we're working hard to help the UK's energy transition. |
| 0:10.2 | We may not have all the answers yet, but we're determined to find them. |
| 0:13.5 | Equinor, an energy company, searching for better. |
| 0:16.9 | 99.6% of Equinor's energy output is oil and gas. |
| 0:20.5 | Our investment in renewables and low-carbon solutions has increased from 4% in 2020 to 27% in 2024. |
| 0:27.5 | Find out more at equinore.co.uk. |
| 0:32.2 | Good morning from the Financial Times. |
| 0:34.1 | Today is Tuesday, August 5th, and this is your F.T. News briefing. |
| 0:38.6 | The tariff drama isn't done quite yet, and Deutsche Bank's CEO could be in hot water. |
| 0:45.4 | Plus, Australia sold one of its main shipping ports to a Chinese company. Now the country wants it back. |
| 0:52.7 | I'm Mark Filipino, and here's the news you need to start your day. |
| 1:06.2 | U.S. President Donald Trump wants to raise tariffs on India. |
| 1:10.2 | New Delhi failed to make a deal on lower |
| 1:11.9 | levies with the White House last week. Washington has threatened a 25% tariff on India because its government |
| 1:18.7 | has refused to buy less oil from Russia. Moscow needs the revenue to finance its war in Ukraine. |
| 1:25.1 | New Delhi says, however, the U.S. encouraged the country to do deals with Russia |
| 1:29.0 | a few years ago. India is the biggest market for Russian crude. Last year, Russia supplied India with |
| 1:35.8 | one-third of its crude oil imports, and that's about 10 times as much as what India bought |
| 1:41.1 | from the U.S. |
| 1:53.2 | Deutsche Bank's CEO is facing an alleged conflict of interest controversy. |
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