Making sense of a wonky GDP reading
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 31 July 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
Meta’s shares jumped more than 10 per cent off the back of better than expected second-quarter earnings, and the Federal Reserve held rates steady despite calls to lower borrowing rates by US President Donald Trump. Plus, American copper prices fell after Trump exempted refined materials from a 50 per cent tariff on the metal, and HSBC profits declined by 29 per cent.
Mentioned in this podcast:
Meta shares jump on strong results as Zuckerberg sets out ‘superintelligence’ goals
Fed holds rates steady despite Trump’s calls for lower borrowing costs
US copper prices fall after Trump exempts refined metals from tariffs
HSBC profits slide 29% on hit from China and restructuring
Today’s FT News Briefing was produced by Henry Larson, Sonja Hutson, and Marc Filippino. Additional help from Blake Maples, Michael Lello, David da Silva and Gavin Kallmann. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. 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 | 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, July 31st, and this is your F-T NEAS briefing. Meta's earnings comforted |
| 0:40.5 | investors. And yesterday was a bit of a doozy for the U.S. economy. Plus, HSBC had a no-good, |
| 0:48.3 | very bad second quarter. H.S.B.C. can't run away from these global problems, especially these |
| 0:53.8 | problems in its major markets, |
| 0:55.0 | including China and Hong Kong. |
| 0:57.0 | I'm Mark Filipino, and here's the news you need to start your day. |
| 1:05.0 | Wall Street seems to be picking up what Mark Zuckerberg is putting down. Meta's shares jumped |
| 1:16.9 | more than 10% right after the company reported better than expected second quarter earnings |
| 1:21.8 | yesterday. Revenues jumped 22% last quarter that is well above expectations. |
| 1:32.8 | It's a sign of confidence in the CEO, as Zuckerberg doubles down on his artificial intelligence bet. He's gone on an aggressive hiring spree in the past few months, offering big bucks to lure |
| 1:38.3 | top talent away from rivals. And the strong financial results are reassuring investors that |
| 1:44.0 | meta's AI ambitions will not overwhelm |
| 1:46.7 | the company with high costs. |
| 1:54.7 | Two very big things happened in the U.S. economy yesterday. Do me a favor and just please be patient as I break each one of |
... |
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