Apple plans to shift the assembly of all US-sold iPhones to India as soon as next year, factories in China have begun slowing production and furloughing some workers in the aftermath of US tariffs, and Alphabet shares rose after it reported first-quarter profit surged 46 per cent. Plus, the Trump administration wants to stamp out one of America’s enduring financial pastimes: writing paper cheques.

Mentioned in this podcast:

Alphabet shares jump as Google search boosts profits

Apple aims to source all US iPhones from India in pivot from China

A crucial earnings season

Is Trump’s drive to kill the paper cheque a ‘no brainer’?

Chinese factories slow production and send workers home as US tariffs bite

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from 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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US tariffs bite Chinese industry

FT News Briefing