Economic ties between Europe and the US took a knock this week when the EU slapped huge back taxes on Apple and several European politicians declared transatlantic trade talks to be effectively dead. Gideon Rachman asks Tony Barber, the FT’s Europe editor, and Shawn Donnan, the FT’s world trade editor, what hopes remain for a successful conclusion to the TTIP talks.

 

US political leaders have reacted with anger to an EU decision to hit Apple with a record-breaking €13bn tax penalty, with one politician describing it as a ‘cheap money grab’ by the European Commission. Chris Nuttall discusses the ruling and its likely repercussions with the FT’s Brussels bureau chief Alex Barker

 

The number of electric cars topped 1 million last year, boosted by government subsidies, and they could make up a quarter of the world’s automobiles by 2040. How will this shift in the auto industry affect oil demand — and price, ask Pilita Clark and Peter Campbell

 

China’s president Xi Jinping has made building a new Silk Road from east Asia to the Middle East and Europe his signature foreign policy. If he succeeds, the Caspian region could once again be at the heart of world trade. The FT’s Jack Farchy reports from the port of Baku in Azerbaijan.

Picture credit: Dreamstime

 

Patrick Jenkins and guests discuss the CBI’s views on regulation post-Brexit and former EU chief José Manuel Barroso’s new job at Goldman Sachs, while in the US, Ben MacLannahan talks to Kim Schoenholtz, of NYU Stern School of Business, about Fed policy options in an era of low inflation and low growth.

 

Not being able to switch off is becoming seen for what it is — a sign of poor time management, says Lucy Kellaway

 

Billy Holiday’s secular hymn was born out of a blazing family row and its swaying melody went on to become a jazz standard, with versions by Tony Bennett and Sonny Rollins. Mike Hobart follows its history.

Credits: Jazz Moon, Saga, Columbia/Legacy, Island, Geffen Gold Mine

 

With Gideon Rachman, Robert Shrimsley, Giles Wilkes and Alan Beattie of the Financial Times. Presented by Sebastian Payne.

 

Doctors in the US are wasting hundreds of millions of dollars a year prescribing expensive branded medicines even when cheaper generic alternatives are available, according to an FT analysis. David Crow and Sujeet Indap discuss the findings.

 

The price of milk in Canada is disproportionately higher than it is in the US or even France, thanks to a government policy known as Supply Management implemented in the 1970s to protect dairy farmers from market instability. What does this policy mean in practice and how does it affect Canada’s involvement in global trade? FT Alphaville’s Cardiff Garcia and Matt Klein discuss with guest George Pearkes, Canadian expat and macroeconomic strategist at Bespoke Investment Group. Visit FT.com/Alphachat for show notes and links.