The US economy has shrunk for two consecutive quarters, many energy companies are posting record profits but French EDF recorded a record loss, and US markets are reacting unpredictably to tech earnings reports.

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Mentioned in this podcast:

US economy shrinks for second consecutive quarter

French energy group EDF records €5.3bn loss ahead of renationalisation

Facebook parent Meta reports first decline in revenue

Spotify adds more subscribers than forecast in second quarter

Google parent Alphabet’s revenue growth falls to slowest pace in 2 years

Microsoft reassures investors with confident full-year forecast

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

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