Biden probes top oil companies over ‘potentially illegal conduct’ leading to higher gas prices

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US President Joe Biden has called on the Federal Trade Commission to investigate whether the country’s biggest oil companies are engaged in “potentially illegal conduct”, the euro fell to its lowest level in 16 months this week as currency markets bet on divergence between the ECB and other major central banks. Plus, the market capitalisation of electric vehicle upstart Rivian has surpassed that of VW and FT global motor industry correspondent Peter Campbell explains why investors are piling into EV shares. 

Joe Biden demands probe of ‘potentially illegal conduct’ in oil sector - with Lauren Fedor

Euro hit by bets ECB monetary policy will diverge from major peers

EV maker Rivian eclipses Volkswagen in value while Lucid overtakes Ford - with Peter Campbell

Staples Center in Los Angeles to be renamed Arena - with Sara Germano

The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann and Michael Bruning. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley. 

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