Berkshire after Buffett
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 5 May 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
The world’s most famous investor says he plans to step down after six decades leading Berkshire Hathaway, and Chinese exporters are turning to third countries to get around 145 per cent US tariffs. Plus, local Nigerian oil companies are starting to replace foreign majors, and Israel calls up reservists to support its expanded operations in Gaza.
Mentioned in this podcast:
Warren Buffett to step down from Berkshire Hathaway after six decades
Chinese exporters ‘wash’ products in third countries to avoid Donald Trump’s tariffs
Israel vows to hit back against Iran and Houthis after airport attack
Credit: CNBC
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Breen Turner, Sam Giovinco, 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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Transcript
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| 0:00.0 | We're Equinor, an energy company searching for better. Currently, we supply 27% of the UK's gas, |
| 0:07.0 | 15% of its oil, and we're playing our part in the UK's energy transition. In 2023, we invested |
| 0:14.1 | 20% of our global gross spend in renewables and lower carbon solutions. Today, our wind farms power |
| 0:20.0 | 750,000 homes, and we expect this to grow to |
| 0:23.3 | over 7 million UK households. We're an energy company searching for better. Equinore.com. |
| 0:29.1 | UK. |
| 0:33.8 | Good morning from the Financial Times. Today is Monday, May 5th, and this is your FT News briefing. |
| 0:40.5 | The Oracle of Omaha is retiring, and Chinese exporters are looking to avoid U.S. tariffs. |
| 0:47.5 | Plus, local companies are pouring into Nigeria's onshore oil industry. |
| 0:52.7 | Maybe we could see Nigerians begin to take broader ownership of their economy. |
| 0:58.1 | I'm Kasha Brusalian, and here's the news you need to start your day. Warren Buffett plans to step down from Berkshire Hathaway after six decades. |
| 1:21.8 | The world's most famous investor made the announcement over the weekend at Berkshire's annual shareholder meeting. |
| 1:27.9 | And while we all knew it was coming, the man is 94 years old after all, the news still came as a surprise, |
| 1:35.1 | even for his handpicked successor, Greg Abel. |
| 1:38.6 | The FD's Amelia Pollard was in Omaha, Nebraska to see it happen. |
| 1:42.5 | Hi, Amelia. |
| 1:43.5 | Hi, Kasha. |
| 1:46.4 | So give me the details on how exactly Buffett's announcement went down on Saturday. So just to paint the scene a bit, |
| 1:52.3 | the annual shareholder meeting is a complete festival. It lasts all weekend. And on Friday, there are |
| 1:59.4 | thousands of people in downtown Omaha. The Saturday meeting |
| 2:02.6 | is a four-hour marathon question-and-answer session where Greg Abel and Buffett were both at the |
| 2:10.0 | front of the arena. In the last five minutes, he says basically that there's one other announcement |
... |
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