Elon Musk’s xAI is launching a $300mn share sale that values the group at $113bn, and China’s property sector woes are compounded by tariff worries. Plus, Poland’s new president is going to make life hard for the country’s prime minister, and the FT’s Amelia Pollard explains why US president Donald Trump wants to take mortgage giants Fannie Mae and Freddie Mac private.

Mentioned in this podcast:

EU companies more concerned about China slowdown than tariffs

Donald Trump’s plans for Fannie and Freddie would mean payday for hedge funds

Nationalist candidate Karol Nawrocki wins knife-edge Poland presidential election

Elon Musk’s xAI seeks $113bn valuation in $300mn share sale

Today’s FT News Briefing was produced by Sonja Hutson, Ethan Plotkin, Kasia Broussalian, Fiona Symon, Mischa Frankl-Duval, and Marc Filippino. Additional help from Blake Maples, David da Silva and Gavin Kallmann. Our intern is Michaela Seah. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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Trump’s push to privatise Fannie and Freddie

FT News Briefing

Trump’s push to privatise Fannie and Freddie