Can Target get its ‘swagger’ back?
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 21 August 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
Chinese regulators are pushing back against US AI chips, Target shares fell more than 6 per cent after the retail group picked an insider to be its new chief executive, and UK inflation accelerated more than expected to 3.8 per cent in July. Plus, China is making a big push for vehicle battery swapping.
Mentioned in this podcast:
Beijing turns against Nvidia’s AI chip after ‘insulting’ Lutnick remarks
Target shares drop as retailer picks insider to lead turnaround drive
UK inflation rises more than expected to 3.8% in July
Will a 3-minute battery swap beat a 5-minute charge for China’s EV drivers?
Today’s FT News Briefing was produced by Fiona Symon, Katya Kumkova, Sonja Hutson, and Marc Filippino. Additional help from Blake Maples, Michael Lello, David da Silva and Gavin Kallmann. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music 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 |
| 0:22.4 | solutions has increased from 4% in 2020 to 27% in 2024. Find out more at equinor.com. |
| 0:32.0 | Good morning from the Financial Times. Today is Thursday, August 21st, And this is your FT News Briefing. China is holding |
| 0:39.8 | a grudge against the U.S. Commerce Secretary, and investors are not happy with the direction |
| 0:45.9 | Target is headed. Plus, battery swapping might be the future of electric cars, but is China |
| 0:52.4 | ready for it? I'm Mark Filipino, and here's the news you need to start your day. |
| 1:06.1 | For years now, Chinese tech companies complain that the U.S. restricted selling artificial intelligence |
| 1:12.2 | chips to China. And for a moment, it looked like they might get their wish for more processors. |
| 1:18.0 | U.S. officials announced they plan to lift some of those restrictions this month. But Chinese |
| 1:23.4 | regulators are now looking to clamp down on the imports on their end. The problem? |
| 1:29.3 | They are offended by comments U.S. Commerce Secretary Howard Lutnik made last month. |
| 1:35.5 | Lutnik said that the chips going to China would be, quote, not our second best, not even third |
| 1:40.8 | best. The U.S. limits AI processor sales to China for national security reasons. |
| 1:46.8 | The recent loosening of the rules only cover NVIDIA's older H-20 processors. They also |
| 1:52.8 | require NVIDIA to pay a cut of the sales to the U.S. government. |
| 2:06.3 | Big Box retailer Target has a new incoming CEO. |
... |
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