Is it glass half-full or half-empty for US banks?
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 14 April 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
US tariff exemptions on personal electronics may only be temporary, and big banks posted major earnings on Friday despite some economic headwinds. Plus, the European Union and the UK are getting closer to signing a defense pact, and the Trump Administration's pressure on universities could drive students and faculty overseas.
Mentioned in this podcast:
US tech tariff exemption will be temporary, says Lutnick
JPMorgan chief Jamie Dimon warns of ‘considerable turbulence’ in US economy
Warning lights flash for US consumer strength as credit defaults rise
American academics seek exile as Trump attacks universities
AI praise-giving tool promises ‘authentic’ insights
UK and EU close ranks on defence amid Trump turmoil
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. 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. Equinor.com. |
| 0:29.0 | UK. |
| 0:33.7 | Good morning from the Financial Times. Today is Monday, April 14th, and this is your FT News Briefing. |
| 0:40.9 | The Trump administration is sending mixed messages to big tech, and U.S. banks are riding out the market storm, at least for now. |
| 0:49.8 | Plus, what happens when the American government goes after universities? |
| 0:53.8 | The next few weeks, we're going to see significant readouts of the Plus, what happens when the American government goes after universities? |
| 0:59.6 | The next few weeks, we're going to see significant readouts of the impact of this longer term. |
| 1:03.2 | I'm Kasha Brusalian, and here's the news you need to start your day. I'm Kasha Brousalian, and here's the news you need to start your day. Personal electronics might only be exempt from U.S. tariffs for a little while longer. |
| 1:21.9 | At least, that's what Commerce Secretary Howard Lutnik had to say yesterday. |
| 1:26.4 | That's right. |
| 1:27.0 | Semiconductors and pharmaceuticals will have a tariff model in order to encourage them to |
| 1:32.2 | resure to be built in America. |
| 1:34.7 | Let me back up and explain. |
| 1:36.2 | Late on Friday, the Trump administration said it was excluding things like smartphones |
| 1:40.5 | and laptops from the massive, quote, reciprocal tariffs on China. |
| 1:45.1 | That was big news for companies like Apple, which makes roughly 80% of its iPhones in the |
| 1:50.6 | country. But then on Sunday, Lutnik warned in an interview with ABC that the semiconductors |
| 1:56.4 | inside these devices could still eventually face levies. |
... |
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