Defence stocks drop despite US-Iran war

Meta said it would boost its spending on AI this year, and Jay Powell says he will stay on as a Federal Reserve governor once his term as chair ends. Plus, the special relationship between the UK and US held up under intense pressure, and defence stocks are struggling despite the US and Israel's war in Iran. Oil jumps to almost $120 as Trump signals extended Hormuz stand-offFed chair nominee Kevin Warsh secures Senate committee approvalOil surge divides US central bank as Jay Powell’s term at helm draws to a closeAmerica’s special relationship is ‘probably Israel’, says UK ambassador to USKing Charles defends transatlantic relationship in speech to CongressDefence stocks give back gains as investors buy rumour but sell warPolitical Fix podcastCredit: C-SPAN, Federal ReserveNote: The FT does not use generative AI to voice its podcasts Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Saffeya Ahmed, Victoria Craig, and Sonja Hutson. Our show was mixed by Sam Giovinco. Additional help from Gavin Kallmann, Michael Lello. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.