Volkswagen’s dire warning

Volkswagen calls for drastic measures to bolster profits, and President Joe Biden wants to block a Japanese company’s acquisition of US Steel. Plus, damning findings about the Grenfell Tower fire surface, and Egypt’s journey from gas bonanza to power blackouts 

Mentioned in this podcast:

Joe Biden set to block Nippon Steel’s takeover of US Steel 

Volkswagen warns staff it has ‘a year, maybe two’ to adapt to lower demand 

‘Incompetence, dishonesty and greed’: Key findings of Grenfell report 

Egypt’s journey from gas bonanza to power blackouts 

CREDIT: AP

The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Michela Tindera, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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.

Read a transcript of this episode on FT.com

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