Behind the Money presents a special 5-part series produced in partnership with the FT’s Moral Money team that goes inside the colossal sums flowing into sustainable investing. Trillions have flooded into funds that have made environmental, social and governance issues, or ESG, central to their investment strategies. As the world begins slowly to recover from the multiple shocks of the pandemic, we take listeners to the center of a loaded debate: Will a shift to more sustainable investments actua...
Sep 22, 2021•2 min
Introducing the FT Tech Tonic podcast. You can subscribe and listen to the rest of the series here. From picking the best stocks to listening in on earnings calls, AI-powered systems are changing finance. But how big are the rewards, really? And what are the risks? In this episode Robin Wigglesworth tells us how AI has been used in investing, what happens when programs must adapt to new risks and what the robots could learn from watching children play. Alice Fordham is senior producer. Jos...
Jul 19, 2021•28 min
The City of London is home to some of the world’s biggest banks and busiest exchanges but the UK is just weeks away from leaving the EU single market and many questions about access to the bloc are still unresolved. Philip Stafford, editor of FT Trading Room, and Stephen Morris, the FT’s banking editor, take a look at the future of financial services after Brexit. Review clips: BBC News, CNBC, EU 27 Read more on the FT’s coverage of Brexit here: Brexit trade talks: the three big sticking p...
Dec 09, 2020•23 min
The Boston-based biotech eschewed a traditional approach to vaccine development, instead pitching its use of mRNA technology to investors. That pitch paid off this year as the company stands to be one of the first to bring a Covid-19 vaccine to market. Hannah Kuchler, the FT’s US pharma and biotech correspondent, reports on Moderna’s race to find an immunisation for the novel coronavirus. The FT is making key coronavirus coverage free to read for everyone. Go to ft.com/coronavirusfre...
Dec 02, 2020•19 min
As protests following the killing of George Floyd in the US reverberated around the world this summer, Belgium, like many other countries, experienced its own reckoning: with a brutal colonial past, with the systemic racism that inhibits its black citizens today and with the question of what exactly it owes to the Democratic Republic of Congo, which it exploited for 75 years. The FT's Neil Munshi reports on the company at the heart of Belgium's colonial pursuit, the Union Minière. Read Neil's FT...
Nov 26, 2020•26 min
The IPO of Jack Ma's Ant Group would have been the largest in history: it was expected to raise $37bn at a valuation of $316bn. But just days before the stock market listing, China called it off. The FT's Ryan McMorrow and Hudson Lockett report on what led to Beijing pulling the plug, and what it means for China's private sector. Further reading: 'The party is pushing back': why Beijing reined in Jack Ma and Ant . Review clips: Reuters, World Economic Forum, CNA, Bloomberg, Yahoo Finance. Hosted...
Nov 18, 2020•18 min
Tensions between Washington and Beijing are beginning to resemble a new cold war. Could the complex supply chains built up over a generation that produce Apple's iPhone and other electronics soon be untangled? In this episode Kathrin Hille, the FT’s greater China correspondent , and Richard Waters, the FT’s west coast editor , tell the story of how technology supply chains in the US and China became intertwined and the forces that are pulling them apart. Review Clips: CNBC, CSPAN, Washingt...
Nov 11, 2020•23 min
There is no episode of Behind the Money this week. Here is a preview of what we are working on for next week. Review Clips: C-SPAN, CNBC, Dallas Morning News Hosted on Acast. See acast.com/privacy for more information.
Nov 04, 2020•1 min
The pandemic docked Carnival’s cruise ships and grounded Bombardier’s planes. But when the companies were in need of cash, one went to the bond market and the other to a direct lender. Robert Smith, FT capital market correspondent and Nikou Asgari, FT corporate finance reporter, tell the story of the billion dollar private debt deals shaping who has the capital to weather the crisis. Review Clips: CNBC, Reuters, ABC News Read more from Nikou, Rob and the rest of the corporate finance team ...
Oct 28, 2020•22 min
The market volatility of the past few months has been a boon for the trading divisions of many Wall Street banks, including Morgan Stanley. Laura Noonan, the FT’s US banking editor, explains how success in trading, and a focus on wealth management has positioned Morgan Stanley to make gains during the pandemic - and whether this trend is likely to last. -- Review clips: CNBC, PBS, Federal Reserve Read more on Laura’s Noonan reporting on Morgan Stanley - https://www.ft.com/content/22d7c870-...
Oct 21, 2020•19 min
Bernard Arnault built a €210bn luxury empire through an unflinching acquisition strategy that earned him the “wolf in cashmere” moniker. Tiffany, famous for its robin-egg blue boxes and diamond engagement rings, was meant to be the jewel atop his LVMH luxury group. The takeover would have been the largest-ever in the luxury sector, until the pandemic hit. The FT’s Leila Abboud, Arash Massoudi and James Fontanella-Khan unwind the saga of how the $16.6bn deal has hit rocky ground and how the pande...
Oct 14, 2020•23 min
While reporting on the coronavirus crisis in northern Italy this year, Rome correspondent Miles Johnson discovered an equally concerning story in the country’s south. Italy’s most powerful organised crime group, the ‘Ndrangheta, had infiltrated local hospitals and packaged millions of plundered euros into global investment funds and portfolios. In the first episode of Behind the Money’s fourth season, Miles follows the money trail in a cautionary tale for the era of ultra-low interest rates.&nbs...
Oct 07, 2020•20 min
Episodes will be released weekly starting Wednesday October 7. Hosted on Acast. See acast.com/privacy for more information.
Sep 30, 2020•57 sec
In September 2014, the FT’s Dan McCrum received a tip about a fast-growing German fintech group, Wirecard. Over the next couple of years Dan and his colleagues uncovered the secret behind the payment company’s meteoric growth: many of the customers listed in company documents did not exist. In this episode Dan tells the story of the whistleblowers, shoe-leather reporting, hacking, suspected surveillance and legal threats that led to Wirecard’s downfal...
Jul 14, 2020•23 min
In the US, commercial mortgage backed securities are a $1.2tn market, and an integral part of how banks lend to commercial property owners. But as the pandemic and subsequent lockdowns changed almost every sector of the economy, commercial real estate has changed too. Hotels and retailers have been hit hard by the shutdown, and mortgage and rent payments they have deferred are coming due. The FT’s Joe Rennison explains what this means for the CMBS market. We also hear from two people who are hel...
Jun 26, 2020•16 min
When a Minneapolis police officer killed George Floyd, it was as if a fire was ignited. His death, along with the killings of Breonna Taylor and Ahmaud Arbery have sparked the most widespread protests in the US since 1968. Hundreds of thousands of people have marched under banners such as “Black Lives Matter”, “No Justice, No Peace” and “Say Their Names”. Now, the voices of activists are converging around a call to “defund the police”. In this episode, we hear from Rachel Harmon, a professor of ...
Jun 13, 2020•22 min
An update on this week's episode Hosted on Acast. See acast.com/privacy for more information.
Jun 09, 2020•18 sec
Last December executives at the Carlyle Group worked into the night to sign what they imagined would be one of the private equity firm’s most enduring deals. In 2020, however, there may be no such thing as a stable business. Carlyle is now trying to walk away from a deal with American Express Global Business Travel before any money has changed hands. Our US private capital correspondent, Mark Vandevelde, reports on the ensuing legal row, and what it could mean for dealmaking during the pand...
May 26, 2020•19 min
This was supposed to be a record year for the US meat industry. But when coronavirus hit the meat-packing plants, it exposed a vulnerable link in the supply chain. We take a look at how our meat gets from the farm to the supermarket, and ask what the fall in production could mean for the US-China trade truce. With the FT’s Gregory Meyer. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/behindthemoneycovid. Further reading: Coronavirus: return ...
May 12, 2020•19 min
The Trump administration’s small business bailout programme has been plagued by problems from the start, with complaints that large companies crowded out the kinds of small enterprises and independent contractors it was designed to help. With a fresh round of funding on offer from Washington, we hear from several business owners trying to get their share, as well as the FT’s Laura Noonan who has been reporting on the programme since it launched. To get free access to the FT’s Coronavirus B...
Apr 28, 2020•21 min
Mauren Pereira's drapery business was on track for its most financially successful year to date. That was until the coronavirus outbreak reached Virginia. Behind the Money reports on how one small business owner is navigating the current economic crisis. With Brendan Greeley, US economics editor for the Financial Times. We want to hear from you. Please go to ft.com/behindthemoneysurvey and fill out our survey for a chance to win a pair of Bose QuietComfort Noise Cancelling headphones. Host...
Apr 14, 2020•20 min
When credit markets seized up earlier in March, more than 130 companies rushed to their lenders to draw down at least $124bn of emergency credit lines to shore up cash, with Ford and General Motors drawing the largest amounts. We look at how the auto industry is preparing for the economic uncertainty that lies ahead. With the FT's Peter Campbell and Gillian Tett. We want to hear from you. Please go to ft.com/behindthemoneysurvey and fill out our survey for a chance to win a pair of B...
Mar 31, 2020•19 min
Behind the Money wants to hear from you, our listeners, about how the coronavirus pandemic is impacting your business and your work life. Email us at behindthemone y [at] ft.com Hosted on Acast. See acast.com/privacy for more information.
Mar 26, 2020•1 min
A costly investigation into the conduct of senior UK bankers during the financial crisis has raised questions about what it means to prosecute allegations of corporate crime, and whether Britain’s fraud laws need overhauling. With the FT’s Caroline Binham and Jane Croft. We want to hear from you. Please go to ft.com/behindthemoneysurvey and fill out our survey for a chance to win a pair of Bose QuietComfort Noise Cancelling headphones. Read more from Jane and Caroline here: Barclays:...
Mar 17, 2020•29 min
More than 10 years on from the early days of the US shale boom, bankruptcy risks are rising across the sector. The FT's US energy editor, Derek Brower, reports on what weak oil prices and tightening access to credit are doing to the outlook for some producers. Further reading: Bankruptcy risks rise for US shale (paywall) https://www.ft.com/content/76c15898-52a2-11ea-90ad-25e377c0ee1f US energy sector, shunned by investors, has ‘Pearl Harbor’ moment (paywall) https://www.ft.com/content/254b...
Mar 03, 2020•21 min
Nearly one year after the grounding of Boeing's 737 Max jet, more than 700 of these planes remain on the ground, with costs to the US manufacturing giant estimated to reach nearly $20bn. The FT's Claire Bushey reports on how the crisis unfolded, and what it will take for the aerospace company to return business as usual. Further reading: Boeing tightens its belt as Max crisis drains cash (paywall) https://www.ft.com/content/949eea64-3e44-11ea-a01a-bae547046735 Boeing faces Max hurdle a...
Feb 18, 2020•25 min
A brand new season of Behind the Money with the Financial Times is coming in early 2020. Subscribe now so you don't miss an episode. Hosted on Acast. See acast.com/privacy for more information.
Dec 17, 2019•40 sec
Earlier this year, Facebook announced its digital currency project, Libra, to great fanfare. Just a few months later, the project has stalled amid pressure from regulators and lawmakers around the world. With the FT's Hannah Murphy and Kiran Stacey. Further reading: Where it all went wrong for Facebook’s Libra: https://www.ft.com/content/6e29a1f0-ef1e-11e9-ad1e-4367d8281195 Zuckerberg warns blocking Libra will be boon to China tech: https://www.ft.com/content/28c600de-f5a1-11e9-9ef3-...
Oct 24, 2019•19 min
A key short term lending market came under strain in September, raising concerns that the Federal Reserve's attempt to unwind post-financial crisis intervention may have gone too far. The FT's Joe Rennison explains what has been going on in the repo market. Further reading: How the Federal Reserve could fix the repo market: https://www.ft.com/content/33674380-e4f4-11e9-9743-db5a370481bc Fed wrestles with role of regulation in repo squeeze: https://www.ft.com/content/45a9c196-e231-11e9-9743...
Oct 03, 2019•21 min
WeWork was long considered one of the most anticipated IPOs of 2019. For SoftBank, WeWork’s biggest outside investor, the listing would be the moment it made a return on the nearly $11bn it poured into the shared-office provider. Now, as WeWork struggles to take the company public, the spotlight is on SoftBank’s Masa Son and his billion-dollar bets. Further FT reading: SoftBank investors brace for Vision Fund writedowns https://www.ft.com/content/ccdaa9c6-d60d-11e9-8367-807ebd53ab77 WeWork postp...
Sep 17, 2019•18 min
