Germany’s twin crises: football and the economy

The US economy fell short of Wall Street expectations by adding only 57,000 jobs in June, South Koreans are pouring AI stock windfalls into an overheated property market and investors in Blue Owl Capital tried to pull $4.7bn from the firm’s private credit funds in the second quarter. Plus, the FT’s sports editor Josh Noble and Berlin correspondent Laura Pitel explain how Germany’s shock exit from the World Cup pairs with wider discontent over the country’s economic woes.

Mentioned in this podcast:

US economy undershoots forecasts with 57,000 jobs added in June

South Koreans pour AI stock windfalls into overheated property market

Blue Owl hit by $4.7bn of redemption requests as investor exodus persists

Germany’s shock World Cup exit sparks reckoning

Friedrich Merz unveils €10bn tax cuts to revive German growth

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CREDIT: FOX Sports, FOX One

The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, Katya Kumkova, and Fiona Symon. Our editor