US stocks make full recovery
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 6 May 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
OpenAI will remain under the control of the group’s non-profit arm, US stocks have wiped out the steep losses that followed US President Donald Trump’s tariff announcement, and the Bank of England is expected to cut interest rates on Tuesday. Plus, Meta’s AI ambitions face a legal test in one of the first trials over copyright infringement.
Mentioned in this podcast:
OpenAI ditches plan to convert to for-profit business
Meta lawsuit poses first big test of AI copyright battle
Bank of England expected to cut rates as US trade war hits growth
US stocks wipe out steep losses that followed Trump’s ‘liberation day’
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Michela Tindera, Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. 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 |
| 0:23.3 | over 7 million UK households. We're an energy company searching for better. Equinor.com. |
| 0:29.0 | UK. |
| 0:34.1 | Good morning from the Financial Times. Today is Tuesday, May 6th, and this is your FT News Briefing. |
| 0:40.6 | OpenAI is ditching restructuring plans, and the U.S. stock market has clawed its way back from a tariff-led shock. |
| 0:48.5 | Plus, a lawsuit against META will be a critical test for AI copyright infringement. |
| 0:54.0 | I'm Mark Filipino, and here's the news you need to start your day. |
| 1:09.9 | Open AI is going to stay a nonprofit. |
| 1:13.2 | The decision comes after significant backlash to OpenAI's proposed corporate restructuring to a for-profit company. |
| 1:20.8 | Some of that backlash came in the form of a lawsuit from former co-founder Elon Musk. |
| 1:26.2 | Critics say the company might lose focus on its mission |
| 1:28.9 | if it were to convert to a for-profit. |
| 1:31.8 | That mission is to make sure that artificial intelligence benefits humanity. |
| 1:36.7 | CEO Sam Altman denied that outside pressure motivated the decision to stay a non-profit. |
| 1:42.2 | He said, quote, we're all obsessed with our mission. |
| 1:45.3 | You're all obsessed with Elon. |
| 1:50.6 | Trillions of dollars in value disappeared from the stock market after so-called Liberation Day. |
| 2:00.2 | That was April 2nd, the day that |
| 2:01.9 | U.S. President Donald Trump unveiled his global tariff policy. The S&P 500 tanked by as much as 15% |
... |
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