Apple has spent two decades and billions of dollars building a massive supply chain for its products. At the centre of that operation is China. But as Beijing has become more authoritarian and relations with the US sour, it has become harder for Apple to do business there. The company has been signalling recently that it will diversify away from the country, but the FT’s Patrick McGee tells Michela why cutting ties will be extremely difficult. Clips from Fox News, CGTN, Yahoo, ABC&nb...
Apr 19, 2023•22 min
It’s time to hit the books with Behind the Money: Night School. This series will serve as a primer to the biggest economic stories of 2023. On today’s episode, US Managing Editor Peter Spiegel talks with Derek Brower about energy policy. They discuss how the United States became almost energy independent, President Biden’s about-face on oil and gas, and why the Inflation Reduction Act might just transform America’s economy into a hub of green innovation. This series is made in collab...
Apr 17, 2023•18 min
There’s been a lot of big finance and economics news in 2023. Whether it's stories about rising interest rates, tech industry layoffs or bank runs, it can almost feel like you need an MBA just to make sense of it all. That’s why the Financial Times is launching a bonus series on this feed called Behind the Money: Night School. Over the next five weeks, this show will help you understand the concepts behind the biggest economic stories of this year. U.S. managing editor Peter Spiegel chats ...
Apr 14, 2023•1 min
This week, we’re revisiting an important episode from last year. Russia’s full-scale invasion of Ukraine in 2022 triggered a global food crisis. Months later, FT correspondents Polina Ivanova, Chris Cook and Laura Pitel found out how Russia aims to profit from this. Ivanova explains how she and her colleagues used satellite photos, transponder data and a document trail to track a Russian company’s shipment of 2,675 metric tonnes of milling wheat out of the occupied Ukrainian port of Berdya...
Apr 12, 2023•16 min
Climate disasters are becoming more and more common, and the countries most vulnerable to them are often the ones emitting the least pollution. That imbalance has sparked a debate on whether rich, polluting nations have a responsibility to contribute more when there are climate catastrophes. In today’s episode, we’re looking at one country that serves as an example: Pakistan. We’ll discuss how it plans to fund its recovery after record-breaking floods – worsened by climate change – submerged muc...
Apr 05, 2023•19 min
After the collapse of Silicon Valley Bank, markets were anxious, and the prestigious, yet scandal-ridden Credit Suisse looked as if it could be next to fall. But over the span of a single weekend, the Swiss government and Credit Suisse’s crosstown rival, UBS, raced against the clock to avert disaster. The FT’s banking editor Stephen Morris provides a front row look at how the deal came together. Clips from Bloomberg, CNBC, BBC - - - - - - - - - - - - - - - - - - - - - - - - - - For further...
Mar 29, 2023•25 min
Credit Suisse… Silicon Valley Bank… Signature Bank… First Republic… After weeks of breaking headlines about banks in crisis, we are taking a big picture look at the sector with the FT’s chief economics commentator, Martin Wolf. In this episode, he explains why banks fail, and lays out the four paths that banking reform could take in the future. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: Banks are designed to fail — and they do US capitalism is ‘br...
Mar 22, 2023•20 min
The collapse of Silicon Valley Bank last week raised questions about the strength of the United States’ banking system, and whether we’re headed for another financial crisis. The FT’s US financial commentator Robert Armstrong tells us why he’s not freaking out. Clips from CBS, NBC, CNN, DW - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: SVB was only a little bit insolvent, luckily SVB’s collapse is not a harbinger of another 2008 The weekend US officials hatc...
Mar 15, 2023•23 min
Over just a few years, the share price of an obscure company from the United Arab Emirates has jumped 40,000%. But little is known about International Holding Company, which has investments in everything from Elon Musk’s SpaceX to India’s Adani Group. The FT’s Middle East editor travelled to Abu Dhabi to get answers about its rapid growth and its connections to some of the most powerful people in the Gulf. Clips from MSNBC, CBS - - - - - - - - - - - - - - - - - - - - - - - - - - For ...
Mar 08, 2023•22 min
Recently, flying in the US seems to be more chaotic than calm. And while it may seem like this all started recently, the FT’s Chicago Correspondent Claire Bushey takes us back to a decision that happened in the 1970s that got us to where we are now. Clips from NBC, PBS, CBS - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: How the US fell out of love with flying Passengers to keep ‘paying the price’ of aviation chaos, says United CEO Hyper-efficiency is bad bus...
Mar 01, 2023•20 min
It’s been one year since Russia launched its full-scale invasion of Ukraine. We’re spending this episode talking to FT reporters and Ukrainian entrepreneurs about the costs of this war: How individuals' lives have been uprooted, how the country’s economy has been turned upside down, and how global markets such as food and energy have been transformed. Clips from CNN, BBC, NBC, PBS, Al Jazeera English - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: Conflict wi...
Feb 22, 2023•31 min
The EU’s executive branch is known for leading the way when it comes to regulating crucial industries, like Big Tech. But for now, one country appears to be further ahead in the race to keep competition alive for European entrepreneurs. The FT’s EU correspondent Javier Espinoza explains who is leading the pack and what it means for everyone else. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: How Germany became Europe’s leading Big Tech trust buster Br...
Feb 15, 2023•18 min
The dollar dominated last year as the US Federal Reserve raised interest rates quicker than other countries to tame inflation. But the so-called “king dollar” has shifted recently. FT Capital Markets Correspondent Kate Duguid dives into how the greenback has been toppled from its throne and what that means for the rest of the world. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: US dollar hits reverse gear as Fed cedes rate-rise ‘driver’s seat’ Dollar touche...
Feb 08, 2023•15 min
Several Big Tech companies have recently announced job cuts - and they pinned their decisions on a pandemic-induced hiring spree. But is that actually what’s driving the cuts? We sat down with the FT’s US financial commentator Robert Armstrong to get the full picture. Clips from Reuters, MSNBC, Yahoo Finance - - - - - - - - - - - - - - - - - - - - - - - - - - BTM listeners, we want to know what you think of the show and what you want to hear more of. Visit ft.com/btmsurvey to submit ...
Feb 01, 2023•20 min
Last year, we talked about China needing to find a mechanism to fix its economy. It looks like it may have found it - by abruptly ending its zero-Covid policies. The FT’s Shanghai correspondent Tom Hale and Global China Editor James Kynge break down what President Xi Jinping’s main goals are and whether it’s enough to jumpstart the country’s economy. Clips from CNN, BBC - - - - - - - - - - - - - - - - - - - - - - - - - - BTM listeners, we want to know what you think of the show and what yo...
Jan 25, 2023•20 min
Electric vehicle giant Tesla took the automotive industry by storm with its innovative technology, but the company’s stock price has slid significantly since last year. And its chief executive Elon Musk has some Tesla fans rethinking their support given Musk’s moves as the new owner of Twitter. But the FT’s Richard Waters says that Tesla faces a challenge much bigger than Musk’s latest tweets. Clips from CBS, ABC News, NBC, CNBC - - - - - - - - - - - - - - - - - - - - - - - - - - ...
Jan 18, 2023•19 min
The global economy has been hit hard in the past few years by the Covid-19 pandemic, high inflation and Russia’s war in Ukraine. However, there’s one emerging economy that’s managed to succeed in spite of that - Indonesia. So, what’s its secret? We sat down with the FT’s Mercedes Ruehl to understand how the country got to where it is now, and whether that success will be permanent. Clips from Associated Press - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: Indonesi...
Jan 11, 2023•17 min
Welcome back to a new year with Behind the Money! We’re starting off by paying a visit to the New York Public Library to take a peek into the past. Some 300 years ago parts of Europe were in the middle of a financial revolution that quickly turned into a financial frenzy and then — a fallout. With help from the FT’s US markets editor Jennifer Hughes, we’ll learn more about the Mississippi and South Sea Company Bubbles, and what they tell us about today. Clips from: NBC, CNBC, CBS News Musi...
Jan 04, 2023•21 min
It’s our last episode of the year, so that means we’re looking ahead to 2023 with the help of the FT’s chief economics commentator Martin Wolf. He sat down with Michela to discuss some of 2022’s biggest stories — inflation, the war in Ukraine, climate change — and how they might impact events in the new year. Clips from NBC News, AP, Sky News, Channel 4 News, Al Jazeera, CNN, TRT World, Yahoo! - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: How to think about...
Dec 14, 2022•21 min
At one time, Credit Suisse was considered to be among the most respected banks in Europe. The FT’s European banking correspondent Owen Walker explains how the Swiss bank is trying to make a comeback after years of scandal and losses — and what might happen if it fails. Clips from CNBC, DW News, Reuters - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: Credit Suisse chair says outflows have reversed since ‘social media storm’ ‘Radical surgery’: Will Credit Suiss...
Dec 07, 2022•20 min
This week, we revisit one of our favourite episodes. After years of mega-deals and mega-money gushing into start-ups, venture capital fundraising hit a record-high last year. Now, the FT’s Richard Waters says the fundraising bonanza is over and helps us explore what that means for the future of start-ups. Clips from Looney Tunes: ⓒ Warner Bros. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: Venture capital’s silent crash: when the tech boom met reality...
Nov 30, 2022•17 min
Qatar is in the spotlight as the host of this year’s World Cup — and the small, oil-rich nation has had to confront a lengthy human rights record with the world watching. The FT’s Gulf correspondent Simeon Kerr breaks down Qatar’s larger goals due to hosting the tournament, and what changes it has — and hasn’t — made to see those through. Clips from BBC, AP, PBS NewsHour, France24, The Guardian - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: The ethical case ...
Nov 23, 2022•18 min
The crypto exchange FTX was supposed to be among the “credible” players operating in digital finance. But its swift descent into bankruptcy shocked the financial industry. The FT’s asset management correspondent Josh Oliver explains what went wrong, and markets editor Katie Martin tells us what it says about the future of crypto. Clips from CBS, ABC - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: How Sam Bankman-Fried seduced blue-chip investors DD goes foren...
Nov 16, 2022•19 min
Tech Tonic is back with a new season about climate tech. As more people fly, aviation is on track to becoming a much bigger problem for climate change. Host Pilita Clark, FT columnist and climate journalist, looks at the potential for a more sustainable aviation industry, a sector that’s struggled to come up with new technology to cut its emissions. Could we end up being forced to cut back on flying altogether? Producer Josh Gabert-Doyon travels to Farnborough Airshow, and we hear from Zero Petr...
Nov 10, 2022•25 min
Russia’s invasion of Ukraine earlier this year triggered a global food crisis. Recently, FT correspondents Polina Ivanova, Chris Cook and Laura Pitel found out how Russia aims to profit from this. Ivanova explains how they used satellite photos, transponder data and a document trail to track a Russian company’s shipment of 2,675 metric tonnes of milling wheat out of the occupied Ukrainian port of Berdyansk, across the Black Sea and over to a port in Turkey. Clips from CNN, PBS - - - - - - ...
Nov 09, 2022•16 min
There’s some internal turmoil at JPMorgan Chase over who should manage the bank’s wealthiest clients. At the centre of the infighting is a top financial adviser who’s managed the accounts of some big names, including retired baseball player-turned-entrepreneur Alex Rodriguez. The FT’s US banking editor Joshua Franklin walks us through what led to this years-long legal battle at one of the world’s biggest banks. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: Glitz ...
Nov 02, 2022•17 min
US Republicans are picking a fight with some major financial institutions over ESG, or environmental, social and governance investing. That means considering things such as climate risks, labour issues and board diversity when choosing investment funds. The FT’s corporate governance reporter Patrick Temple-West explains why Republicans are upset and what this backlash might mean for the future of ESG . Clips from Fox News, CNBC - - - - - - - - - - - - - - - - - - - - - - - - - - For furthe...
Oct 26, 2022•17 min
The spotlight is on China as the Communist party’s 20th National Congress takes place this week. At a critical moment when President Xi Jinping prepares to stay on for an unprecedented third term as leader, there’s an important problem: China’s economy is slowing down. The FT’s China correspondent Edward White explains why this has happened and whether or not it's too late for Xi to make the changes necessary to put the country on a path to strong growth again. Clip from the So...
Oct 19, 2022•17 min
Trevor Milton and his electric vehicle start-up Nikola became Spac darlings in 2020 with his plan to transform the trucking industry. Then it all came crashing down. The FT’s Claire Bushey explains the boom and bust of entrepreneur Trevor Milton’s career and what we can learn from his story. Clips from Nikola - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading: Nikola founder Trevor Milton accused of misleading investors at fraud trial Nikola: the clues in Trevor ...
Oct 12, 2022•20 min
Years of low interest rates sent investors hunting for creative ways to generate returns. One unlikely place they found was inside the song catalogues of some of the top musicians and songwriters of the last few decades. But now, as interest rates rise and the possibility of a global recession looms, the FT’s Anna Nicolaou and Kaye Wiggins explain how one of the hottest recent trends on Wall Street could soon have to face the music. Clip from Chevrolet - - - - - - - - - - - - - - - -...
Oct 05, 2022•19 min
