This week, Swamp Notes goes to London for a live recording. Katie Martin, host of the Unhedged podcast, and Chris Giles, author of the FT’s Central Banks newsletter, discuss what Trump’s next few months might be like. Have markets truly recovered from the “liberation day” shock? What happens after the 90-day tariff pause is over? Our guests weigh in. Subscribe to the new Swamp Notes feed here.Mentioned in this podcast:Read the latest Chris Giles on Central Banks column hereListen to the Unhedged podcast hereSign up for the FT’s Swamp Notes newsletter hereSwamp Notes is produced by Katya Kumkova. Topher Forhecz is the acting co-head of audio. Special thanks to Mischa Frankl-Duval and Pierre Nicholson.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
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23:55
How Trump’s tariffs threaten Ireland’s pharma fortune
Ireland has become a major base for US pharma companies, including Pfizer, Eli Lilly and Johnson & Johnson. That’s bolstered the economies of individual towns and played a role in the country’s massive budget surplus. Now, US President Donald Trump’s tariff threats are bringing a dose of uncertainty. The FT’s Ireland correspondent Jude Webber traveled to the town where the world’s supply of Botox is produced to see what impact potential pharmaceutical tariffs might have on the country. Clips from WKYC, The Journal, Bloomberg- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Trump tariffs bring furrowed brows to Ireland’s Botox townTrump’s tariffs threaten Ireland’s pharma fortuneIreland’s luxury problem: what to do with its €8.6bn surplus- - - - - - - - - - - - - - - - - - - - - - - - - - Follow Jude Webber on X (@jude_webber), or on Bluesky (@judewebber.bsky.social). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
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21:21
GE Vernova tries to shake its parent’s problems
Massive conglomerates used to define corporate best practice. Think about a company like General Electric, known as “the everything company”. But today, there’s a new popular model: de-conglomeration. The FT’s former US energy reporter Amanda Chu examines whether this is working for a power business that GE spun off last year – or if it’s just another Wall Street fad. Clips from BBC, Bloomberg, DW - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Rustbelt gamble: GE Vernova rides AI power boom into uncertain futureIs the US power grid ready to meet the demands of data centres?Have America’s industrial giants forgotten what they are for?- - - - - - - - - - - - - - - - - - - - - - - - - - Follow Amanda Chu on X (@amandalanchu). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
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26:17
The FTC commissioner fired by Trump
In March, Alvaro Bedoya and Rebecca Kelly Slaughter, two Democratic members of the Federal Trade Commission, were fired from their jobs by the Trump administration. They say this was done illegally and are challenging their dismissals. Michela talks with Bedoya about what happened, and why he thinks businesses should be concerned. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Trump’s move to fire us is a terrible warning for the US economyTwo Democrats on US antitrust panel say they were ‘illegally fired’ by Donald TrumpCould Donald Trump fire Federal Reserve chair Jay Powell? - - - - - - - - - - - - - - - - - - - - - - - - - - Follow Alvaro Bedoya on X (@BedoyaFTC). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
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21:12
Has Goldman Sachs already chosen its next CEO?
Goldman Sachs may have picked its next chief executive years before any planned handover. It has raised eyebrows on Wall Street and would break from the usual process, where multiple candidates typically compete for the top job down to the last second. But it also completes an incredible comeback by current Goldman Sachs CEO David Solomon. The FT’s US banking editor Joshua Franklin explains how Solomon reasserted his control over Goldman Sachs after a near rebellion and whether his potential successor is up to the task of running one of the world’s biggest banks.Clips from CNBC, Goldman Sachs- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Has Goldman Sachs already chosen its next CEO?Goldman Sachs has lost its wayGoldman Sachs hands chief David Solomon $80mn retention award- - - - - - - - - - - - - - - - - - - - - - - - - - Follow Joshua Franklin on X (@FTJFranklin). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
From hostile takeovers to C-suite intrigue, Behind the Money takes you inside the business and financial stories of the moment with reporting from Financial Times journalists around the world. Hosted on Acast. See acast.com/privacy for more information.
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