Good morning from the Financial Times. Today is Friday, April 3rd, and this is your FT News briefing.

There's been a shake-up at the U.S. Department of Justice, and more private credit investors want out of Blue Owl Capital.

Plus, we continue our series on tariffs today with a look back at the taco trade. It quickly became clear that on any point where the president was subjected to significant economic

or political pressure of any kind, he would cave.

I'm Mark Filipino, and here's the news you need to start your day.

U.S. President Donald Trump fired his attorney general Pam Bondi yesterday.

She's been under increasing pressure over

how she handled files related to Jeffrey Epstein, the child sex offender who died in 2019.

Bondi's department missed a congressional deadline to release all the Epstein files. It then botched

the initial attempts to redact the documents, and in doing so, inadvertently expose the names of some victims.

This is the second high-profile ousting from Trump's cabinet this year.

He fired Homeland Security Secretary Christy Noem last month.

Deputy Attorney General Todd Blanche will step into replace Bondi as acting head of the department.

The cracks in the private credit market keep getting worse for Blue Owl Capital.

The investment firm disclosed yesterday that it was struck with a huge increase in investor request to withdraw their money, and that hit the company's stock hard.

Here to tell us about where things go now is the FT's U.S. investment editor, Eric Platt.

Hey, Eric.

Hey, how's it gone?

Pretty well.

So just give us the numbers.

What exactly did Blue Owl disclosed yesterday?

So Blue Owl disclosed the size of investor redemptions from two of its flagship private credit funds.

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