Hungary looks to Trump for sanctions exemption
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 7 November 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
Tesla investors have overwhelmingly backed Elon Musk’s $1tn pay deal, Hungary’s prime minister travels to Washington to make the case for a Russian oil sanctions exemption, and the Bank of England keeps rates on hold. Plus, why UK bond markets are keeping calm and carrying on despite turmoil ahead of Labour’s Budget announcement.
Mentioned in this podcast:
Tesla shareholders approve Elon Musk’s $1tn pay deal
Bank of England keeps rates on hold at 4% in knife-edge decision
Orbán to seek approval from Trump to continue importing Russian oil
Bond markets are winning the Budget stand-off
Today’s FT News Briefing was produced by Victoria Craig, Sonja Hutson, and Marc Filippino. Our show was mixed by Kelly Garry. Additional help from 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
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Good morning from the Financial Times. Today is Friday, November 7th. |
| 0:06.0 | And this is your FT News briefing. The world's richest man has been awarded the largest pay package in history. |
| 0:13.0 | And Hungary's prime minister is set to meet with U.S. President Donald Trump today. |
| 0:17.0 | Plus, UK Chancellor Rachel Reeves laid the groundwork for tax rises without upsetting bond investors. |
| 0:23.7 | If she had come out and said, look, I had to break a promise to somebody and it's going to be to the bond market, then all hell would have broken loose. |
| 0:31.1 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:42.0 | Thank you. Start your day. Tesla held arguably its most important shareholder meeting yesterday, and all the attention |
| 0:47.2 | was on this single proposal. |
| 0:50.1 | On the 2025 CEO Performance Award to our founder and CEO Elon Musk, with over 75% voting in favor, approved. |
| 1:04.3 | That was the final vote at the meeting, which took place in the company's Texas Gigafactory. |
| 1:09.1 | It gave a $1 trillion pay deal to Elon Musk. |
| 1:14.2 | The billionaire CEO had threatened to quit if the proposal failed. |
| 1:18.4 | Musk contended he needed the pay deal to increase his control of Tesla to at least a quarter, |
| 1:23.5 | that's up from 16%. |
| 1:25.1 | And he argued it would protect the electric vehicle maker from activist investors |
| 1:29.6 | as it builds a, quote, army of humanoid robots. Now, Musk does need to hit some targets in order |
| 1:36.5 | to get this pay package like boosting earnings 24-fold. Despite the overwhelming support for the $1 trillion |
| 1:43.2 | pay package, some investors who sent in |
| 1:45.9 | pre-recorded messages on various other proposals used it as an opportunity to voice discontent on |
| 1:52.8 | Musk's pay. One even called it outrageous. |
| 2:07.3 | Hungary wants an exemption from New U.S. sanctions on Russian oil, and its prime minister, |
| 2:12.6 | Victor Orban, is headed to the White House today to try and secure one. The Hungarian leader will sit down with the U.S. President Trump to make his case. EU officials say Orban views the restrictions as a major threat to his re-election bid. |
... |
Transcript will be available on the free plan in 9 days. Upgrade to see the full transcript now.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.