Risks facing investment banks

US President Donald Trump delivered his State of the Union address last night, Europe’s largest investment banks delivered their highest trading revenues in at least a decade in 2025, and UK self-driving start-up Wayve has raised $1.2bn in new funding. Plus, people are returning to Afghanistan in droves, but there are questions over whether the country can support this massive influx.

Mentioned in this podcast:

European traders celebrate decade-beating performance

UK AI start-up Wayve raises $1.2bn from carmakers and Big Tech

Millions of people are returning to Taliban-run Afghanistan

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Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Fiona Symon, Victoria Craig and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Michael Lello and David da Silva. 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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