Trump’s push to privatise Fannie and Freddie
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 3 June 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
Elon Musk’s xAI is launching a $300mn share sale that values the group at $113bn, and China’s property sector woes are compounded by tariff worries. Plus, Poland’s new president is going to make life hard for the country’s prime minister, and the FT’s Amelia Pollard explains why US president Donald Trump wants to take mortgage giants Fannie Mae and Freddie Mac private.
Mentioned in this podcast:
EU companies more concerned about China slowdown than tariffs
Donald Trump’s plans for Fannie and Freddie would mean payday for hedge funds
Nationalist candidate Karol Nawrocki wins knife-edge Poland presidential election
Elon Musk’s xAI seeks $113bn valuation in $300mn share sale
Today’s FT News Briefing was produced by Sonja Hutson, Ethan Plotkin, Kasia Broussalian, Fiona Symon, Mischa Frankl-Duval, and Marc Filippino. Additional help from Blake Maples, David da Silva and Gavin Kallmann. Our intern is Michaela Seah. Topher Forhecz is the FT’s acting co-head of audio. 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 over 7 million UK households. |
| 0:25.7 | We're an energy company searching for better. |
| 0:28.2 | Equinore.co.uk. |
| 0:32.5 | Good morning from the Financial Times. |
| 0:34.4 | Today is Tuesday, June 3rd, and this is your FT News Briefing. |
| 0:38.9 | Elon Musk is trying to build up his artificial intelligence business, and China's property |
| 0:43.8 | market continues to struggle. Plus, the U.S. government took over two giant mortgage lenders |
| 0:49.5 | after the 2008 financial crisis. Now they might go private again. |
| 0:57.4 | I'm Mark Filipino, and here's the news you need to start your day. |
| 1:08.8 | Elon Musk's AI company XAI is launching a $300 million share sale. |
| 1:11.3 | That's according to people close to the situation. |
| 1:15.8 | The goal is to affirm the company's current valuation of $113 billion. |
| 1:22.7 | XAI got that price tag in part because it acquired the social media company X in March, |
| 1:27.1 | users can access XAI's product GROC through X. |
| 1:29.7 | Sources tell the F.T. that XA.I. is also trying to borrow $5 billion through a package of loans and high-yield bonds. |
| 1:34.8 | That deal is being led by Morgan Stanley. |
| 1:37.3 | This is all happening, as Musk is stepping back from his role in the U.S. government. |
| 1:41.7 | He said he's going to focus more on his businesses. |
| 1:50.3 | Thank you. from his role in the U.S. government, he said he's going to focus more on his businesses. China's property market continues to hurt. The country showed weak sales data in April, |
... |
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