Microsoft beat expectations for revenue and cloud sales, Alphabet shares rise by double-digits after first-quarter earnings beat expectations, markets are no longer fully confident of a US interest rate cut before September, and the EU is turning to draconian tactics to curb migration. Plus, a merger between mining giants BHP and Anglo American could get investors excited about the industry again.

Mentioned in this podcast:

Alphabet shares surge past $2tn after search giant unveils first ever dividend

Microsoft’s revenue and cloud sales beat expectations

Biden dealt blow as investors scale back bets on pre-election rate cut

Why is BHP bidding for Anglo American?

BHP proposes £31bn takeover of Anglo American in mining mega-deal

How Europe is paying other countries to police its borders

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Denise Guerra, 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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