The Rachman Review

Saturday’s missile strike on King Khalid International Airport in Riyadh was the deadliest attack on Saudi Arabia since the US and Israel’s war on Iran began in February. By bringing the conflict to the heart of Saudi Arabia, Houthi rebels are hoping to inflict economic damage on the kingdom, which is in the midst of an ambitious programme to diversify away from oil. How effective has the Houthi campaign been so far? How will Saudi’s allies, including the US, Turkey and Pakistan, react to this danger? And why are the Houthis so hard to defeat? Gideon speaks to Emile Hokayem of the International Institute for Strategic Studies. Clip: BBC News

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Further reading:

Military briefing: Houthis expose limits of Saudi Arabia’s vast arsenal

Houthi assault on Saudi airports strikes at MBS’s economic vision

Houthis attack Saudi Aramco headquarters

Presented by Gideon Rachman. Produced by Mischa Frankl-Duval. The senior producer was Laurence Knight. Sound design is by Samantha Giovinco and Breen Turner.

Read a transcript of this episode on FT.com

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Flávio Bolsonaro took a clear lead in the first round of Brazil’s presidential election, and is the favourite to assume power after a run-off against the incumbent, Lula Ignacio da Silva, later this month. Will Flávio, who is the son of imprisoned former president Jair Bolsonaro, follow his father’s playbook, by cosying up to Trump and slashing environmental regulations – or will he follow a more moderate path? Gideon speaks to Oliver Stuenkel, a professor at the Getulio Vargas Foundation in Brazil and fellow with the Carnegie Endowment in Washington, to find out how a Bolsonaro victory would change Brazil. They discuss Brazil’s relations with the US, China, and its Latin American neighbours: and they examine why whoever wins the Brazilian election is unlikely to have a long honeymoon period. Clips: APT

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Further reading:

Brazil’s Bolsonaro dynasty closes in on stunning comeback

Brazil’s Bolsonaro comeback exposes Lula’s weakness

Brazil’s markets surge as investors bet on Flávio Bolsonaro election win

Presented by Gideon Rachman. Produced by Mischa Frankl-Duval. The executive producer is Manuela Saragosa. Sound design is by Sean McGarrity

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High-profile AI safety incidents, as well as warnings from industry figures about AI’s rapid progress, have stoked a new wave of fear about the future of humanity. Artificial intelligence systems are becoming more and more capable. Can we regulate this technology effectively – or is it too late to put the AI genie back in the bottle? Gideon speaks to Toby Ord, senior researcher at Oxford university’s AI Governance Institute, and author of ‘The Precipice: Existential Risk and the Future of Humanity.’

Clip: C-Span

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Further reading:

Anthropic warns of ‘existential risks to humanity’ in IPO prospectus

Why the AI race has its creators fearing human extinction

Donald Trump praises tech bosses’ ‘self-regulation’ of AI

Presented by Gideon Rachman. Produced by Mischa Frankl-Duval.

The executive producer is Manuela Saragosa.

Sound design is by Samantha Giovinco and Breen Turner.

Read a transcript of this episode on FT.com

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More than three decades after The End of History and the Last Man made Francis Fukuyama one of the world’s best-known political thinkers, he is still correcting misconceptions about what he actually meant. In a wide-ranging conversation with host Gideon Rachman, Fukuyama revisits his original thesis and explores how resentment and the search for recognition are reshaping liberal democracy. They also discuss whether US institutions can withstand Donald Trump’s authoritarian impulses, why Fukuyama remains optimistic about American democracy, China and Russia’s quest for status, and his own intellectual journey away from neoconservatism. Cip: BBC

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In the Realm of the Last Man — how the future disappeared from politics

A German election result heard around the world

A spreading war threatens Trump and MBS

Supreme Court rejects Donald Trump’s restrictions on mail-in ballots for midterms

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Presented by Gideon Rachman. Produced by Clare Williamson. Executive producer is Manuela Saragosa. Sound design is by Breen Turner

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The world is experiencing a record number of conflicts, just as governments retreat from international aid and diplomacy to leave a more politically fragmented international landscape in their wake. That is the view of David Miliband, the former UK foreign secretary and president of the International Rescue Committee, in conversation with host Gideon Rachman. They discuss the escalating conflict in the Middle East, the collapse in humanitarian funding and whether middle powers can ever fill the vacuum left by the US. Clip: Al Jazeera

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Fragile states in Africa and Middle East hit by more than 40% cut in UK direct aid

Life on the frontline against Ebola

How will UK foreign policy change under Ed Miliband?

Donald Trump reboots foreign aid with cash-for-data strategy

Presented by Gideon Rachman. The executive producer is Manuela Saragosa. Sound design by Breen Turner and Sam Giovinco

Read a transcript of this episode on FT.com

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War is raging in Ukraine, the Middle East and Sudan, while tensions are rising between China and Taiwan. What is driving this surge in global conflict, how should we respond and where, if anywhere, are the prospects for peace? Gideon is joined by Sir John Sawers, former head of MI6; Tom Tugendhat, the UK’s new shadow foreign secretary; and Kim Ghattas, FT contributing editor and author of Black Wave. They discuss how today’s conflicts are connected, the risk of further escalation and the importance of ending a war well.

This episode is an edited recording of an event organised by FT Weekend Festival. Clip: CBS News

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Trump envoys take Ukraine peace proposal to meeting with Putin

Trump envoys hold talks with Zelenskyy in Kyiv after meeting Putin in Moscow

Russia launches missile strikes against Kyiv as pause in raids ends

Why the US and Iran keep escalating

Lebanon warns of ‘dangerous escalation’ after Israeli strikes

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Presented by Gideon Rachman. Produced by Clare Williamson. Sound design is by Breen Turner

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US Treasury secretary Scott Bessent is calling for an “economic D-Day” for the Iranian regime while threatening secondary sanctions on countries that do business with the country. Will this be more effective than previous attempts at economic pressure? What impact will this have on US relations with China? And how will energy markets react? Sasha Polakow-Suransky, executive opinion editor, speaks with Emma Ashford, Stimson Center senior fellow and Foreign Policy columnist, about Washington’s latest Iran sanctions push dubbed Operation Economic Outcast. Clip: CBS News

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US launches further strikes on Iran as conflict flares up

Energy price surge hits bond markets as European gas reaches three-year high

Donald Trump says US will hit Iran ‘hard’ as conflict reignites 

Scott Bessent: an economic D-Day is coming for Iran

Scott Bessent threatens Iran’s economic partners with more sanctions

Is China’s ‘wise camel’ the winner from the US-Iran war?

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Presented by Sasha Polakow-Suransky. Produced by Clare Williamson. Sound design is by Breen Turner

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The UN is choosing a new secretary-general at a time when it’s struggling to remain relevant. Sidelined in the wars in Ukraine, Sudan and the Middle East, and facing a severe funding crisis, the organisation is under growing pressure. This week, guest host Alec Russell speaks to Thant Myint-U, a former UN official, author and the grandson of former UN secretary-general U Thant, about the challenges its new leader will face. Clip: AP Archive

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António Guterres on the future of the UN

Superpowers are discovering their limits, says UN chief

The new world order? Every man for himself

Wanted: a leader to rescue the UN

Nuclear watchdog chief pitches ‘leaner’ UN in secretary-general bid

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Join us at the FT Weekend Festival on Saturday, September 5 at Kenwood House Gardens in London and spend the day with FT journalists and leading voices across business, politics, economics, culture and the arts. FT podcast listeners can save 10% off tickets with the code FTPODCAST. Click on this link to find out more.

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Presented by Alec Russell. Produced by Clare Williamson. Sound design is by Breen Turner.

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Gideon Rachman speaks to historian and author Simon Sebag Montefiore about his new book, The Cauldron: The Making of the Modern Middle East. They discuss the forces that shaped the region, from the Ottoman Empire and Ataturk to the ongoing tensions between the US, Israel and Iran. Gideon and Simon examine the region's complexities and interconnectedness and whether lessons from the past can offer a glimpse into the future. CLIP: British Pathé

Join us at the FT Weekend Festival on Saturday, September 5 at Kenwood House Gardens in London and spend the day with FT journalists and leading voices across business, politics, economics, culture and the arts. FT podcast listeners can save 10% off tickets with the code FTPODCAST. Click on this link to find out more.

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Israeli settlers besiege Palestinian homes

The exodus from Israel

Egypt deploys jets to UAE as Iran war strains Arab alliances

Far-right Israeli minister advocates killing ‘30 to 40’ Gazans each night

Israel moves to give police powers in occupied West Bank

Far-right Israeli minister advocates killing ‘30 to 40’ Gazans each night

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Presented by Gideon Rachman. Produced by Clare Williamson. Sound design is by Breen Turner.

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Gideon talks to Vali Nasr, author of Iran’s Grand Strategy and professor of Middle Eastern Studies at Johns Hopkins University, SAIS, about how the balance of power in the Middle East is changing. After six months of on-off hostilities, Nasr argues, Iran’s core aims are unchanged - ending the US threat and securing economic relief. But Iran now looks to have the upper hand and is using its leverage from controlling the Strait of Hormuz to seek ever more far-reaching concessions from the superpower. Clip: CTV

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Will failure in Iran reshape how the US fights?

Iran’s supreme leader elevates loyalists as he tightens grip

Trump and the failure of the Fafo doctrine

Brinkmanship in the Strait of Hormuz

Israel’s campaign to make southern Lebanon ‘unliveable’ 

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Presented by Gideon Rachman. Produced by Clare Williamson. Sound design is by Breen Turner

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What began as outrage over a senior judge's comments has become one of the most striking youth protest movements India has seen in years. Gideon talks to Professor Mukulika Banerjee of the London School of Economics about why so many young Indians have taken to the streets, what the "cockroach movement" says about the country's economic and educational pressures, and whether it poses a genuine challenge to Narendra Modi's government.

Clip: BBC

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Abhijeet Dipke, the face of India’s victorious ‘cockroach’ protests

India’s ‘Cockroach’ Gen Z has had enough

India should listen to its frustrated youth

Why India’s student protests are different

India’s ‘cockroach’ movement halts protests after minister quits

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Presented by Gideon Rachman. Produced by Clare Williamson. Sound design is by Breen Turner

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Tariffs, sanctions and chokepoints have become the weapon of choice to punish political rivals - but what happens when these fail? Gideon discusses the impact of geopolitical disputes on global trade with Edward Fishman, author of Chokepoints: American Power in the Age of Economic Warfare. Clip: Al Jazeera

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Trump vows to deliver ‘beating’ to Iran in retaliation for latest attack

Saudi Arabia joins US strikes on Iran-backed militias in Iraq

Ukraine, Iran and how regional wars go global

Donald Trump rebuilds his tariff wall

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Presented by Gideon Rachman. Produced by Fiona Symon. Sound design is by Sean McGarrity.

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Gideon talks to Julianne Smith, former US ambassador to Nato about the future of the alliance. There seems to be greater transatlantic agreement on Ukraine, but tensions remain over Europe’s stance on Donald Trump’s war on Iran. So can the alliance survive without the US at the helm? Clip: ANI News

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Nato’s carnival of Trumpian caprice

Why the world trusts China more than America

Ukraine’s drone swarms test Moscow air defences

Nato opens its cheque books in bid to keep Trump engaged

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Presented by Gideon Rachman. Produced by Fiona Symon. Sound design is by Breen Turner.

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Gideon talks to Simon Kuper, FT columnist and author of World Cup Fever, about what distinguishes this World Cup from previous tournaments. What role has geopolitics played historically in the World Cup and is there any truth to some of the conspiracy theories surrounding this year's events? Clip: ITV Sport

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Bellingham brace carries England past Norway into World Cup semi-final

World Cup shows US is ‘golden market’ for football, says Major League Soccer boss

How western Europe became a formidable football factory

Why are China and India so bad at football?

Inside the secretive Fifa committee that suspended the US red card

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Presented by Gideon Rachman. Produced by Fiona Symon. Sound design is by Breen Turner.

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Marine Le Pen has run for the French presidency several times before, but her chances of winning next year look better than ever. Gideon talks to the FT's Victor Mallet about the source of her growing popularity and what a far-right government would mean for France and the EU. Clip: The Guardian

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Le Pen revives presidential bid echoing Trump

French far-right leader Marine Le Pen says she will run for president

Marine Le Pen’s massive double gamble on presidency

France’s crowded race to replace Emmanuel Macron

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Presented by Gideon Rachman. Produced by Fiona Symon. Sound design is by Simon Panayi.

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The war in Iran triggered a new round of conflict between the Hizbollah militia in Lebanon and the Israeli army. More than 4,000 people have been killed and about a million displaced. Lebanon and Israel signed a peace deal in Washington at the weekend to end the fighting, but without Hizbollah’s participation, can the deal hold? Gideon puts the question to the FT's editor Roula Khalaf and Andrew England, the FT's Middle East editor. Clip: This is Beirut

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Lebanon’s deal with Israel sparks backlash

How Hizbollah’s fighters ended up in court

Steve Witkoff and Jared Kushner arrive in Doha for talks over US-Iran deal

How Benjamin Netanyahu’s big moment backfired

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Presented by Gideon Rachman. Produced by Fiona Symon. Sound design is by Breen Turner.

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In this special edition of the Rachman Review, Edward Luce, the FT's Washington commentator, talks to Rahm Emanuel, former White House chief of staff for Barack Obama, about where the Democratic party has gone wrong in recent years and how to win back the confidence of middle America. This is an edited version of a discussion that took place at the recent FT Weekend Festival in New York.

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Rahm Emanuel says Trump ‘got schooled’ by Iran in bad ceasefire deal 

Why young America is trending socialist

Rahm Emanuel and the 2028 ‘ideas primary’

How Benjamin Netanyahu’s big moment backfired

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Presented by Gideon Rachman and Edward Luce. Produced by Fiona Symon. Sound design is by Sean McGarrity.

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What are the repercussions of the Iran war for American power? How will the outcome be viewed by America’s allies and the leadership in Beijing? Gideon discusses these questions with Kevin Rudd, the former prime minister of Australia, Katherine Thompson, who until recently was a senior official in the Pentagon under President Trump, and Philip Gordon, who was national security adviser to vice-president Kamala Harris. This is an edited version of a discussion that took place at the recent FT Weekend Festival in New York. News clip: Fox News

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America’s allies look to declare independence from the US

The rise and fall of US hegemony

Nato chief reveals Italy allowed US planes to use bases in Iran war

Trump and Xi will not determine Taiwan’s fate

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Presented by Gideon Rachman. Produced by Fiona Symon. Sound design is by Breen Turner.

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How much should we care about wars that are not in our neighbourhood? What role can countries not directly involved play in paving the way for a more peaceful world? Gideon discusses these questions with India’s foreign minister S Jaishankar, Lana Nusseibeh, minister of state for foreign affairs for the United Arab Emirates, and Finland’s foreign minister, Elina Valtonen. The discussion was recorded at the Kultaranta conference in Finland. Clip: CNN

Join Gideon live on Saturday, June 20 at the FT's inaugural NYC Weekend Festival

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Donald Trump says US will not invest in $300bn fund for Iran

Brussels approaches Kremlin over potential Ukraine talks

A fragile Iran peace follows a war without victors

The long way back from the Iran energy shock

How the US-Iran deal came together

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Presented by Gideon Rachman. Produced by Fiona Symon. Sound design is by Breen Turner.

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Where should Britain stand in the great power struggle between the US and China? Does the special relationship with Washington mean anything anymore or do all roads lead back to Europe? Gideon discusses these questions with Ben Judah, former special adviser to deputy prime minister David Lammy.

Clip: Channel 4 News

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Donald Trump warns US will soon hit Iran ‘hard’ again

Will Trump abandon Taiwan?

It is time for a European Security Council 

Britain re-entering the EU ‘an inevitability’, says Treasury minister

Putin and Trump don’t have the cards

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Presented by Gideon Rachman. Produced by Fiona Symon. Sound design is by Breen Turner.

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What is life like in the Iranian capital and is the regime ready to compromise to achieve a lasting peace? Gideon discusses the mood in Tehran and the changing political landscape in the country with the FT’s Tehran correspondent, Najmeh Bozorgmehr. Clips: AP, Reuters, Bloomberg.

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Greek shipping tycoon Evangelos Marinakis ready to pay Strait of Hormuz transit fees

One killed and dozens hurt in Iranian strike on Kuwait airport

Benjamin Netanyahu faces backlash after Donald Trump call

Why Iran fears a deal today means more war tomorrow 

Iran is beating Trump at the art of the deal

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Gideon talks to Sebastian Mallaby, author of The Infinity Machine, a book about the career of Demis Hassabis and his AI company, Google DeepMind. They discuss the growing backlash against AI, why people are worried, and what governments can do to mitigate the risks of the coming technological revolution. Clip: WSJ

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OpenAI’s foundation to spend $250mn on research into AI’s impact on economy

Pope’s appeal can’t change the AI race’s risky logic

AI guardrails stripped from Meta and Google models in minutes

How AI threatens the giants of consulting 

AI companies are just companies

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Gideon talks to Greek Prime Minister Kyriakos Mitsotakis about the closure of the Strait of Hormuz and its impact on Greece as a leading shipping nation. They discuss Greece’s recovery from the financial crisis of 2015, how to achieve European strategic autonomy and the best way to bring the war in Ukraine to an end. Clip: France 24

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Three supertankers attempt Strait of Hormuz crossing

America owes its European allies a defence roadmap

Protests spread in Africa as fuel crisis deepens

UAE says drone strike caused fire at nuclear plant

Tipping point looms for global energy crisis

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Presented by Gideon Rachman. Produced by Fiona Symon. Sound design is by Breen Turner.

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Gideon Rachman speaks to James Crabtree, former head of the Asia programme at the International Institute for Strategic Studies and author of The Perimeter, about Donald Trump’s visit to Beijing, his first in a decade. What do Washington and Beijing hope to gain, and what does the trip reveal about the evolving balance of power between the world’s two leading superpowers?

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Donald Trump’s plan to discuss Taiwan arms sales with Xi Jinping rattles Asian allies

Trump is up against China’s great wall of confidence

Trump’s war has given China an economic opening

Trump, Xi and the bid for a ‘grand bargain’ between superpowers  

Trump prepares to press Xi on Iran war 

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Turner

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Gideon talks to Lloyd Austin, who served as US defence secretary under the Biden administration, about the need to adapt to new forms of warfare, accusations that he presided over a ‘woke military’ and how he headed off a nuclear threat from Russia in the early days of the Ukraine conflict. Clip: AP

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US pauses ‘Project Freedom’ as Trump seeks way out of Hormuz impasse

US warns Europe of delays to arms shipments as Iran war drains stockpiles

Pentagon to pull 5,000 soldiers out of Germany in dispute over Iran war

Donald Trump’s Iran war has cost $25bn, Pentagon says

Our inaugural FT Weekend Festival in NYC is quickly approaching! Join John Lithgow, Orna Guralnik, Jancis Robinson and more on Saturday, June 20 at Spring Studios or online — as the FT Weekend comes to life for one unforgettable day. Register now and as a podcast listener save 10% off using our code FTPodcast— this is the Saturday you won’t want to miss it.

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Gideon talks to Dmytro Kuleba, former Ukrainian foreign minister, about the current state of Russia’s war against Ukraine. What would it take to break the stalemate and how has the conflict been impacted by the US-Israeli attack on Iran? Clips: DW; Reuters

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Vladimir Putin pares back Victory Day parade over fear of Ukrainian strikes 

US ambassador to Ukraine to leave over differences with Donald Trump

Ukraine’s drone pilots hit Russian targets from 500km away

Toxic rain falls on Russian city after refinery blaze

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Those who do not study history may be destined to repeat it . . . and lose money. The Story of Money is a new podcast from The Financial Times exploring the past to see where the next opportunities — and disasters — may lie. Hosted by FT columnist Gillian Tett and FT Alphaville editor Robin Wigglesworth, The Story of Money explores the history of global finance through the people, ideas, events, and institutions that have shaped it. From unregulated frontier banking experiments in 19th-century America to institutionalised debt forgiveness in ancient Mesopotamia, The Story of Money traces how financial systems evolve — and why familiar patterns often repeat — offering context for everything from market cycles to emerging AI trends.

Watch episode 1: They are history’s geniuses. But were they any good at investing?

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Gideon discusses why the Iran conflict is proving so difficult to end with Michael Singh and Dana Stroul of the Washington Institute for Near East Policy. What are the options on the table for both sides and can America’s allies play a useful role? Clip: New York Post

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The Iran crisis has not yet peaked

Iranian tankers bypass US blockade

Macron and Starmer to hold summit on plan to secure Strait of Hormuz

Lufthansa cuts 20,000 flights to save fuel as prices soar

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Gideon discusses possible negotiated solutions to the Iran war with Suzanne Maloney of the Brookings Institution. What do Tehran's leaders want and how long can they hold out for a winning settlement that will ease the country’s economic pain? What are the stakes for Trump and the global economy? And what role, if any, can Gulf countries play in curbing the regime’s power to blight progress in the region? Clip: Fox News

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Why time is on Iran’s side

Iran is America’s Suez crisis — and just as ridiculous

Iran used Chinese spy satellite to target US bases

Iran faces halt to oil production within weeks if US blockade succeeds

Life inside Iran’s internet blackout

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