RIP QT
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 30 October 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
Meta and Microsoft had mixed earnings reports, the Federal Reserve cut interest rates and said it would halt quantitative tightening and South Korea has agreed to invest $350bn in the US in return for lower tariffs on car exports. Plus, John Malone is stepping down as chair of his media and telecoms empire, marking the end of an era in which the “cable cowboy” reshaped both industries.
Mentioned in this podcast:
Federal Reserve trims US interest rates by quarter point but casts doubt on December cut
Federal Reserve nears end of QT amid signs of stress in money markets
US and South Korea seal trade deal
‘Cable cowboy’ John Malone to step down from media and telecoms empire
Today’s FT News Briefing was produced by Lucy Baldwin, Sonja Hutson, and Marc Filippino. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann and Michael Lello. 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 | Good morning from the Financial Times. Today is Thursday, October 30th. And this is your FT News Briefing. |
| 0:09.0 | Meta had tech earnings yesterday. Probably wants to forget. Microsoft, not so much. And the Federal Reserve is going to stop shrinking its balance sheet. |
| 0:19.2 | Plus, the cable cowboy is saying, howdy, to retirement. |
| 0:23.9 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:35.1 | Meta and Microsoft left investors with mixed feelings when they reported earnings yesterday. |
| 0:40.6 | Let's start with meta. Revenues rose 26% last quarter, but its net income fell by a whopping 83%. |
| 0:49.0 | The company said that was because of a one-off income tax charge of nearly $15 billion. That charge is |
| 0:56.0 | related to U.S. President Donald Trump's one big, beautiful bill. Meta's share price dropped more than |
| 1:01.8 | 7% in after-hours trading. Then there was Microsoft, and this one really comes down to investors |
| 1:08.2 | having super high expectations., its cloud computing business, |
| 1:11.9 | Azure saw its revenue grow 39%. That was higher than estimates, but it wasn't high enough. |
| 1:19.2 | Investors thought there would be even faster expansion because of Microsoft's partnership |
| 1:23.4 | with OpenAI, and Microsoft's after our share price fell nearly 4%. |
| 1:28.3 | One more piece of tech news from yesterday. |
| 1:31.3 | In case you're keeping score at home, |
| 1:33.3 | Nvidia became the world's first $5 trillion company. |
| 1:37.3 | Its share prices up more than 49% on the year. |
| 1:46.9 | The Federal Reserve made two big moves yesterday to ease borrowing conditions. |
| 1:52.2 | First of all, it cut interest rates by a quarter point. |
| 1:55.4 | And second of all, it said it would stop shrinking its balance sheet. |
| 1:58.7 | If you want to get wonky, it's ending quantitative tightening. |
| 2:02.8 | Here to tell us more is the FT's U.S. economics editor, Claire Jones. Hi, Claire. Hi, Mark. |
... |
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