The rescue of First Republic this week has failed to stop a sell-off in regional bank shares, Apple experienced a big boost in demand in India driven by a surge in refurbished iPhone sales, and European banks are hoping to scoop up some of Credit Suisse’s business now that the lender has been bought by UBS. Mentioned in this podcast: First Republic rescue fails to arrest slide in US regional bank shares Refurbished iPhones boost Apple’s share of Indian market Deutsche Bank plans to beef up...
May 03, 2023•9 min
Chinese initial public offerings have raised more than five times as much money as those in the US this year, and Germany’s lawmakers are set to pass immigration reforms to address a worsening skills shortage. Plus, the FT’s Brooke Masters unpacks the deal for First Republic and what’s in it for JPMorgan. Mentioned in this podcast: China dominates global IPO market as Wall Street fails to rebound JPMorgan to acquire First Republic’s deposits as US regulators step in Germany looks to immigration ...
May 02, 2023•11 min
At least three large banks have submitted bids to buy all or parts of First Republic, the US is urging South Korea not to fill China’s semiconductor shortfalls if Beijing bans Micron chips, and Iran’s statistics authorities have kept inflation data under wraps for the last two months. Plus, mining companies are willing to go to the bottom of the ocean for rare and precious resources. Mentioned in this podcast: JPMorgan, Citizens and PNC submit bids for First Republic US urges South K...
May 01, 2023•10 min
Russia’s stock market has climbed to its highest level in more than a year, European commercial real estate deals hit an 11-year-low last quarter, and Big Tech continues to prop up the US stock market. Mentioned in this podcast: Russian stock market hits year high as trapped investors have nowhere else to go Traditional investors are learning it’s tricky to be picky European commercial real estate dealmaking falls to 11-year low The FT News Briefing is produced by Fiona Symon, Sonja Hutson and M...
Apr 28, 2023•9 min
Walt Disney sued Florida governor Ron DeSantis over the state’s ‘retaliation’ for the company’s stance on ‘Don’t Say Gay’ law, UK regulators have blocked Microsoft’s $75bn acquisition of Activision Blizzard, and the FT’s Harriet Agnew explains why conservative UK pension funds are leading start-ups to look for capital in different countries. Mentioned in this podcast: US growth set to have cooled in first quarter as Fed pushed rates higher Walt Disney sues Ron DeSantis over ‘retaliation’ f...
Apr 27, 2023•9 min
Google’s advertising revenue in the first quarter of 2023 nearly matched numbers from a year ago, tens of thousands of Sudanese refugees have crossed into neighbouring Chad, and First Republic Bank saw its shares plummet nearly 50 per cent yesterday. Plus, General Motors is diversifying its EV battery production. Mentioned in this podcast: Google advertising bounces back with return to revenue growth Sudan crisis threatens to bring fresh turmoil to neighbouring Chad Sharp sell-off in First Repub...
Apr 26, 2023•10 min
US President Joe Biden is expected to announce on Tuesday that he’s running for re-election, UBS could lose customers as a result of its takeover of Credit Suisse, and the French luxury group LVMH became the first European company to hit a $500bn market value. Mentioned in this podcast: Biden prepares to take his case for a second term to American voters Hunt admits UK business taxes are too high as government pressed on strategy Credit Suisse suffered $69bn in outflows during first-quarter cris...
Apr 25, 2023•9 min
Santander is trying to poach some of Credit Suisse’s most senior investment bankers, UK prime minister Rishi Sunak looks to establish calm after deputy prime minister Domic Raab resigned last week, American dollar stores have to adjust for the age of inflation and UK therapist are pushing back on US mental health platform. Mentioned in this podcast: Santander moves to hire some of Credit Suisse’s top dealmakers Dominic Raab resigns as UK deputy prime minister over bullying claims America’s...
Apr 24, 2023•11 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 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 with FT journ...
Apr 22, 2023•18 min
Regional banks across the US have largely stopped the massive outflow of deposits after the collapse of Silicon Valley Bank, investors representing $4.5bn of wiped-out Credit Suisse bonds have filed a lawsuit against Switzerland’s banking regulator, and the FT’s Brooke Masters argues the US court battle over regulator approval of an abortion pill could have a chilling effect on the country’s pharmaceutical industry. Mentioned in this podcast: Stability after SVB’s collapse comes at a price...
Apr 21, 2023•8 min
Natural gas consumption in the EU fell almost 18 per cent in the past eight months, Ukraine will plead for urgent shipments of surface-to-air missiles at a meeting of its western allies on Friday, and Germany looks ready to legalise recreational cannabis use. Mentioned in this podcast: EU gas usage falls 18% after price shock caused by Russian supply cuts Military briefing: Ukraine pleads for missiles as air defence stocks run low Germany set to legalise personal use of cannabis The FT New...
Apr 20, 2023•9 min
Rupert Murdoch’s Fox has agreed to pay $787.5mn to settle a landmark defamation case , Bank of America emerged from banking turmoil with higher first-quarter profits, China’s latest GDP numbers show the economy is rebounding from one of its worst years in decades, and lawmakers and activists from across the political spectrum have come out against efforts in western countries to ban or curb TikTok Mentioned in this podcast: Bank of America plans 4,000 job cuts despite strong results Five takeawa...
Apr 19, 2023•11 min
Apple and Goldman Sachs launched a new savings account with an interest rate more than 10 times the national average, a Chinese genetics company said it would press ahead with US expansion as it tries to distance itself from its former parent company, and the FT’s David Pilling explains what’s at stake in the conflict in Sudan. Mentioned in this podcast: Apple and Goldman offer US savings account with 4.15% annual interest Chinese genetics company targets US despite political tensio...
Apr 18, 2023•11 min
Companies have committed more than $200bn to US manufacturing projects since Congress passed sweeping subsidies last year, one of Charles Schwab’s largest investors sold its entire $1.4bn stake in the brokerage giant during last month’s banking turmoil, Turkish voters head to the polls next month and are losing faith in President Recep Tayyip Erdoğan, and Poland and Hungary halt Ukraine grain imports to placate angry farmers amid a grain glut Mentioned in this podcast: Companies have commi...
Apr 17, 2023•9 min
In the final episode of this Tech Tonic series, we hear how radical quantum ideas are reshaping our fundamental understanding of the universe. Nobel Prize winner Anton Zeilinger tells the FT’s Madhumita Murgia about the future of teleportation and the quantum internet; quantum computing pioneer David Deutsch makes the case for the theory that we live in a multiverse; and FT innovation editor John Thornhill speaks to physicist Carlo Rovelli about relational quantum mechanics. Presented by Madhumi...
Apr 15, 2023•24 min
BP has started pumping crude through a new $9bn offshore platform as it slows its transition out of fossil fuels, global equities have recovered from the banking crisis but risks remain, and experts are sounding the alarm over the latest version of Open AI’s artificial intelligence chatbot ChatGPT. Mentioned in this podcast: BP commits to Gulf of Mexico as $9bn platform comes online OpenAI’s red team: the experts hired to ‘break’ ChatGPT The FT News Briefing is produced by Fiona Symon, Sonja Hut...
Apr 14, 2023•10 min
Donald Trump is suing his former lawyer Michael Cohen, an uptick in core prices in the US is keeping pressure on the Federal Reserve to push ahead with another interest rate rise in May, and a study shows 91 of the poorest countries will spend an average of more than 16 per cent of their revenue on foreign debt repayments. Mentioned in this podcast: Donald Trump sues former lawyer Michael Cohen for $500mn Inflation eased to the lowest level in nearly two years in March Poorest countr...
Apr 13, 2023•10 min
EY has scrapped plans to break up its audit and consulting businesses, the IMF has warned the global economy could be in for a “hard landing”, and the European aviation industry estimates it will cost more than €800bn to reach its net zero goals. Mentioned in this podcast: EY scraps break-up plan after months of internal dissent IMF warns of ‘hard landing’ for global economy if inflation persists European airline industry warns of €800bn bill to reach net zero The FT News Briefing is produ...
Apr 12, 2023•10 min
Companies on the S&P 500 index are expected to report a 6.8 per cent decline in first-quarter earnings, Eli Lilly’s CEO told the Financial Times that Europe may miss out on new drugs if it pushes ahead with legislation reducing the time period for market exclusivity, and Russians are in a new era of fear and distrust as President Vladimir Putin’s regime encourages citizens to inform on members of their community.. Mentioned in this podcast: US companies face biggest decline in...
Apr 11, 2023•10 min
China’s financial sector is reeling from a series of new corruption probes and the FT’s Middle East correspondent, Raya Jalabi, explains how Syrian first lady Asma al-Assad gained so much power and influence. Mentioned in this podcast: China’s financial sector rocked by expansion of anti-corruption drive Syria’s state capture: the rising influence of Mrs Assad The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help ...
Apr 10, 2023•10 min
Quantum computers aren’t the only form of groundbreaking technology that use quantum physics. Madhumita Murgia hears from Dr. Margot Taylor, neuroscience researcher at The Hospital for Sick Children, who’s using quantum sensors to unpick the mystery of how autism first appears in the brain And we speak to Matthew Brookes, physics professor at Nottingham university in the UK, who helped build the quantum brain scanner she’s using. Plus, John Thornhill speaks to Stuart Woods from Quantum...
Apr 08, 2023•22 min
Brands keep spending on TikTok despite a threat by the US to ban the social media app, KKR is looking to buy a large stake in FGS Global, and Ukraine says it’s “ready” to talk to Russia about the Crimean peninsula if Kyiv’s counteroffensive succeeds. Plus, the FT’s Anjli Raval examines whether boomerang chief executives actually work out for their companies. Mentioned in this podcast: Brands increase TikTok ad spending despite US ban threat Ukraine ‘ready’ to talk to Russia on Crimea if co...
Apr 06, 2023•9 min
Former US president Donald Trump pleaded not guilty to 34 felony charges in court on Tuesday, Credit Suisse held its last annual general meeting, and shareholders at HSBC rail over the company’s decision to buy Silicon Valley Bank’s UK business. Mentioned in this podcast: Donald Trump pleads not guilty to criminal charges in New York Credit Suisse chair apologises to investors at bank’s final AGM HSBC forced to defend SVB UK deal to fractious Hong Kong shareholders Credit Bloomberg Televsi...
Apr 05, 2023•9 min
The president of the European Commission has called on Beijing to play a “constructive” role in bringing peace to Ukraine, EY has been banned from taking on any new listed audit clients in Germany for two years, and the makers of popular plagiarism detection software are launching a tool that also detects if essays are created using artificial intelligence chatbots. Plus the FT’s Polina Ivanova talks about her colleague Evan Gershkowich who has been detained by Russia. Mentioned in t...
Apr 04, 2023•10 min
Former President Donald Trump will turn himself in to New York prosecutors on Tuesday, Saudi Arabia and other members of the Opec+ group announced surprise production cuts of more than 1mn barrels a day, and China’s President is urging an increasingly assertive stance on the world stage and this year urged cadres at a key meeting in Beijing to “dare to fight.” Mentioned in this podcast: Oil price surges after Opec+ nations make surprise output cut ‘Dare to fight’: Xi Jinping unveils China’...
Apr 03, 2023•10 min
The Port of Los Angeles is one of the world’s busiest — and most inefficient. It’s now using an early quantum computing application to help solve its logistical bottlenecks. Has it made a difference? The FT’s John Thornhill investigates. We hear from truck drivers at the Port of Los Angeles ; Matt Schrap, CEO of the Harbor Trucking Association; SavantX co-founder Ed Heinbockel, who helped bring quantum computing to the port ; and Alan Baratz, president of D-Wave Systems. Plus, John and FT ...
Apr 01, 2023•25 min
Donald Trump has been indicted in what is the first criminal charges against a former US president in the country’s history, Ukraine’s deputy economy minister Oleksandr Gryban speaks to Marc Filippino about investing in Ukraine’s post-war economy, and the FT has published a video of its investigation into North Korean oil smuggling networks. Mentioned in this podcast: Donald Trump indicted on criminal charges in Manhattan Inside North Korea’s oil smuggling: triads, ghost ships and undergro...
Mar 31, 2023•11 min
Social media giant Meta is deliberating a company-wide ban on political advertising in Europe, crypto exchange Binance hid substantial links to China, and UBS is bringing back Sergio Ermotti to lead the bank as it integrates Credit Suisse. Plus, the FT’s Eleanor Olcott explains why China’s ecommerce giant Alibaba is splitting into six business units. Mentioned in this podcast: Meta bosses look at political ads ban in Europe Why UBS brought Sergio Ermotti back as chief executive Binan...
Mar 30, 2023•11 min
JP Morgan CEO Jamie Dimon will testify about his bank’s relationship with Jeffrey Epstein, the Middle East is enjoying an IPO boom, China has expanded its bailout lending as its Belt and Road Initiative falters, and former FTX CEO Sam Bankman-Fried has been charged with bribery. Mentioned in this podcast: JPMorgan’s Jamie Dimon to be deposed in Epstein lawsuits Middle East on ‘radar’ of global investors as it enjoys IPO boom China grants bailouts as Belt and Road Initiative falters U...
Mar 29, 2023•10 min
Israeli prime minister Benjamin Netanyahu has postponed a bitterly contested judicial overhaul, the first consignment of German Leopard 2 tanks has reached Ukraine, and shares of First Citizens Bank surged nearly 50 per cent on Monday morning following news it would buy much of the failed Silicon Valley Bank. Mentioned in this podcast: Netanyahu partner says reforms that have roiled Israel to be postponed German Leopard 2 tanks arrive in Ukraine First Citizens to buy failed Silicon V...
Mar 28, 2023•10 min
