Norway’s oil fund dumps Israeli companies
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 13 August 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
The White House walks back expectations for Friday’s meeting between the US and Russian presidents, and Norway’s oil fund is pulling its money out of Israel. Plus, inflation stayed flat in the US in July, and storm-hit beach towns are struggling to shore up amid sand scarcity.
Mentioned in this podcast:
White House downplays expectations for Trump-Putin Alaska summit
US inflation holds steady at 2.7% in July despite Trump’s tariffs
Norway oil fund sells out of a fifth of Israeli firms amid fierce criticism
Can the world’s beaches survive a sand shortage?
Crypto founder Do Kwon pleads guilty to US fraud charges
Today’s FT News Briefing was produced by Fiona Symon, Katya Kumkova, Michaela Seah, and Marc Filippino. Additional help from Kelly Garry, Michael Lello, and Gavin Kallmann. Our 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 solutions |
| 0:22.9 | has increased from 4% in 2020 to 27% in 2024. Find out more at equinor.com. UK. |
| 0:32.0 | Good morning from the Financial Times. Today is Wednesday, August 13th. This is your FT News briefing. |
| 0:39.4 | The White House is lowering the stakes for the Alaska Summit, and Norway is pulling some of its money out of Israel. |
| 0:45.9 | Plus, sand. It's coarse and rough and irritating, and it gets everywhere. But what happens when |
| 0:52.1 | sand starts to erode? |
| 0:56.8 | I'm Mark Filipino, and here's the news you need to start your day. |
| 1:10.3 | The White House is playing down expectations for U.S. President Donald Trump's meeting with Russian leader of Vladimir Putin. |
| 1:12.4 | U.S. allies have expressed concern about the summit. |
| 1:16.0 | They worry Trump could go for a quick end to the war by offering Putin Ukrainian territory. |
| 1:21.7 | But U.S. Press Secretary Caroline Levitt says Friday's meeting in Alaska is a, quote, |
| 1:27.3 | listening exercise and that any |
| 1:29.5 | peace deal would have to include Ukraine. Still, the country's president, Vladimir Zelensky, |
| 1:35.7 | is not invited to the upcoming summit. |
| 1:43.9 | The Norwegian government is getting a ton of pushback for its investments in Israel. |
| 1:49.1 | The country's $2 trillion oil fund is the largest sovereign wealth fund in the world. |
... |
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