Viktor Orbán’s world tour irks the EU
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 18 July 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
Chip stocks dipped yesterday after Trump’s comments rattled investors, the EU spoke up against Viktor Orbán’s recent travels, and a bid to force Amazon to recognise a union failed in the UK. Plus, the FT’s Madhumita Murgia explains what Yandex’s move into Europe signifies.
Mentioned in this podcast:
Chip stocks tumble as Trump comments rattle investors
Donald Trump has ‘well-founded plans’ for Russia-Ukraine peace talks, Viktor Orbán claims
Amazon beats back union bid for UK recognition
Yandex founder to build AI business in Europe after Russia exit
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. 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
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | Good morning for the Financial Times. Today is Thursday, July 18th. This is your |
| 0:17.8 | F.T. News briefing. Chip stocks took a huge tumble yesterday, and the Prime Minister of Hungary is trying to punch above his weight. |
| 0:27.0 | Plus, can one of Russia's tech champions reinvent itself in Europe as an AI powerhouse. |
| 0:34.2 | I'm Mark Filipino and here's the news you need to start your day. Yesterday was a total mess for chip stocks, U.S. Chipmaker Invidia was down 6.5%. |
| 0:58.0 | Taiwan's T-SMC was down nearly 8%, and the Dutch chipmaker ASML was down almost 11%. |
| 1:07.0 | Why, you might ask? |
| 1:09.0 | Well, you could point to Donald Trump. |
| 1:12.0 | The Republican presidential nominee spooked investors by saying that Taiwan should |
| 1:16.4 | pay for its own defense. |
| 1:18.3 | The island makes a lot of these chips, but China wants to claim Taiwan for its own, by force if necessary. |
| 1:26.0 | It also doesn't help that U.S. President Joe Biden is considering tougher restrictions |
| 1:31.0 | on trading chips with China. It's kind of a one-two punch. |
| 1:35.3 | And this all matters because these chips are a core part of artificial intelligence companies. |
| 1:41.1 | And semiconductor stocks are propping up major indices. |
| 1:45.0 | So when the chips were down yesterday, pardon the pun, |
| 1:48.0 | the NASDAQ dropped nearly 3%, its worst day since 2022. |
| 1:54.0 | Hungary's prime minister, |
| 1:57.0 | Hungary's Prime Minister Victor Orban has been very busy these past few weeks. |
| 2:06.0 | He met with Vladimir Putin and Russia. |
| 2:08.0 | Then he went to China to meet with President Shejian Pink. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.