Hong Kong tech stocks are flying high, Elon Musk’s nearly $100bn bid for OpenAI comes with a ton of baggage, and the EU says it will retaliate against US tariffs on European steel and aluminium exports. Plus, Sudan’s army is close to its biggest victory in a brutal two-year civil war.

Mentioned in this podcast:

China’s tech stocks enter bull market after DeepSeek

World’s largest EV battery maker files for Hong Kong listing

Elon Musk gatecrashes OpenAI restructuring

Elon Musk-led consortium offers $100bn to take control of OpenAI

EU to retaliate against US steel and aluminium tariffs

Sudan army nears biggest victory of civil war with assault on capital

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. 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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