Bulgaria moves into the Eurozone
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 5 June 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
Apple’s rollout of artificial intelligence services in China with Alibaba is being held up, Wells Fargo faces an uphill battle to catch up with its rivals after asset cap was lifted, and US President Donald Trump says Russian President Vladimir Putin is not ready for “immediate peace” with Ukraine. Plus, the European Commission has finally given Bulgaria the green light to join the Eurozone in 2026.
Mentioned in this podcast:
Apple and Alibaba’s AI rollout in China delayed by Trump trade war
Wells Fargo has finally shed its dunce cap
Wells Fargo asset cap lifted after ‘fake accounts’ scandal
Putin planning to retaliate for Ukraine drone attack, says Trump
Bulgaria to join Eurozone in 2026
Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, Lulu Smyth, and Marc Filippino. Additional help from Blake Maples, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s acting co-head of audio. 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. Equinor.com. |
| 0:29.1 | UK. |
| 0:32.0 | Good morning from the Financial Times. Today is Thursday, June 5th, and this is your FT News Briefing. |
| 0:38.2 | Apple's artificial intelligence rollout in China is hitting a bit of a rough patch. And Wells Fargo |
| 0:43.8 | got a huge gift from the Fed this week. Plus, meet the soon-to-be newest member of the |
| 0:49.3 | Eurozone, Bulgaria. I'm Mark Filipino, and here's the news you need to start your day. |
| 1:02.5 | Apple is planning on rolling out artificial intelligence services in China with the help of |
| 1:07.3 | Alibaba, but a regulator in Beijing is now standing in the way. |
| 1:12.3 | Apple's AI product is called Apple Intelligence. |
| 1:15.8 | In China, it would be supported on Alibaba's latest models, |
| 1:19.5 | and politically, Alibaba was supposed to help smooth the way into the Chinese market. |
| 1:24.5 | But even with this in, sources say Apple is having a hard time getting Apple intelligence |
| 1:29.4 | past the cyberspace administration of China. The delayed rollout appears to be a casualty of the |
| 1:35.2 | U.S. China trade war. U.S. President Donald Trump's tariffs have basically taken a sledgehammer to the |
| 1:40.5 | relationship. And Apple, in particular, finds itself in the crosshairs. Trump is |
| 1:46.1 | threatening the tech giant with 25% tariffs on its devices if the company doesn't reshore its |
| 1:51.2 | manufacturing. Apple's share price is down more than 16% this year. |
| 2:06.7 | The Federal Reserve lifted a huge weight off Wells Fargo's shoulders this week. |
... |
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