Europe’s largest oil companies are poised to curb share buybacks, and Kevin Warsh’s nomination to Fed chair could spark a rethink of how America’s central bank works. Plus, consumer giants deal with backlash over contaminated baby formula. And, a rollercoaster in precious metals prices triggers ‘pandemonium’ in New York’s Diamond District.

Mentioned in this podcast:

Europe’s oil majors prepare to cut billions in shareholder payouts

Kevin Warsh’s nomination as Fed chair to spark rethink of bank’s role

Nestlé and Danone hit by backlash over contaminated baby formula

Gold and silver tumult triggers ‘pandemonium’ in New York’s Diamond District

Note: The FT does not use generative AI to voice its podcasts

Today’s FT News Briefing was hosted by Victoria Craig, and produced by Fiona Symon and Julia Webster. Our show was mixed by Alex Higgins. Additional help from Peter Barber. 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

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What would Kevin Warsh’s Federal Reserve look like?

FT News Briefing