Mark Filipino hosts this Financial Times news briefing covering major developments in tech layoffs, energy sector governance, entertainment mergers, and crypto disputes. The episode features FT correspondents Malcolm Moore (energy editor) and Jill Shaw (U.S. trading and crypto correspondent) providing expert analysis on breaking stories.

The briefing covers Meta's significant workforce reduction tied to AI investments, BP's shareholder meeting setbacks despite strong financial performance, the advancing Warner Brothers-Paramount merger, and escalating tensions between the Trump family's crypto venture and a major backer. Additional stories include Italy's unusual World Cup qualification request and clarifications on previous Middle East energy coverage.

Big Tech Doubles Down on AI with Major Workforce Cuts

Meta announced 10% workforce reduction (8,000 jobs) next month to offset billions spent on AI technology, with company memo citing need to 'run the company more efficiently'

Microsoft offered voluntary redundancy to 7% of U.S. staff following its own major AI investments, having already cut over 15,000 jobs last year

BP Faces Shareholder Revolt Despite Strong Financial Performance

Two BP special resolutions failed with only 47% support each: one to reverse climate reporting requirements from 2015 and 2019, another to enable electronic annual meetings

Meeting atmosphere was tense despite BP shares being up 30% this year and new CEO Meg O'Neill starting April 1st, with activist investors pressuring company over renewable energy retreat

Dutch activist Follow This had resolution blocked that would examine BP's business resilience if oil and gas demand declines faster than expected

"If they were going to go back to renewables, Meg O'Neill is all oil and gas" - Malcolm, noting new CEO's background at Exxon and Woodside

Hollywood Mega-Merger Advances Despite Industry Opposition

Warner Brothers Discovery shareholders approved Paramount Skydance's $111 billion takeover of Paramount, moving deal closer to completion after months-long bidding war with Netflix

Over 1,000 Hollywood professionals signed open letter opposing merger, citing concerns about widespread job losses and reduced industry opportunities

Deal now heads to U.S., UK, and EU regulators for final approval before closing

Trump Family Crypto Venture Faces Legal Battle with Major Backer

World Liberty Financial, founded by Eric Trump and Donald Trump Jr., was sued by crypto billionaire Justin Sun alleging token access restrictions and executive extortion for additional investment

World Liberty operates decentralized finance platform with its own token, stablecoin, and small lending/borrowing services, attempting to merge DeFi with traditional finance

Eric Trump called lawsuit 'ridiculous' while CEO Zach Witkoff termed claims 'entirely meritless,' as public spats escalated on social media platform X

Trump meme coin trading at all-time lows, down 95% from peak, amid broader crypto market troubles and underperforming Trump family ventures