Goldman Sachs plans to sell one of its personal financial management divisions, Brazil's president, Luiz Inácio Lula da Silva, is close to sealing an unlikely alliance, and the European defence industry is struggling to keep up with demand for ammunition for the Ukraine war. Plus, European Council president Charles Michel proposes a target date for adding new members to the EU.

Mentioned in this podcast:

Goldman Sachs sells financial planning unit as part of consumer retreat

El Niño’s storm clouds gather over global food prices

Lula nears pact with Brazilian rightwingers to boost passage of agenda

Boom in the woods: inside a munitions group’s fight to boost production

EU must be ready to accept new members by 2030, Michel to propose

Credit: European Council: President Michel @ Bled Strategic Forum 2023

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, 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.

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An unlikely alliance in Brazil

FT News Briefing