Gazprom is unlikely to recover gas sales lost as a result of Vladimir Putin’s full-scale invasion of Ukraine for at least a decade, India’s Prime Minister Narendra Modi is set to win a historic third term, job openings, vacancies and quits data provided more evidence of a cooling labour market in the US, and Rishi Sunak’s government has begun the process of awarding JPMorgan Chase boss Jamie Dimon a knighthood. Plus, Opec+ might be losing ground in its fight to prop up oil prices.

Mentioned in this podcast:

Gazprom badly hurt by Ukraine war, says company-commissioned report

Narendra Modi set to lose parliamentary majority in shock Indian election result

India election strips Narendra Modi of his ‘aura of invincibility’

Opec+ is running out of road

US labour market cools in April, relieving pressure on the Fed

Jamie Dimon considered for UK knighthood by Sunak government

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 Prarkiti 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

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Opec+’s production conundrum

FT News Briefing