Ukraine’s allies worry that support from the US will lose steam during next year’s election cycle, and Japan’s stocks are reaching new highs. Plus, the European Central Bank is big on a digital currency. Europeans? Not so much. Mentioned in this podcast: Ukraine’s allies fear military support will fade in US election year Japan stock index hits 33-year high as investors warm to Tokyo story The digital euro: a solution seeking a problem? The FT News Briefing is produced by Fiona Symon, Sonja Huts...
May 18, 2023•8 min
The Federal Trade Commission sued to block the biotechnology company Amgen’s $28.3bn deal to acquire Horizon Therapeutics, Italy is struggling to spend €200bn in EU Covid recovery funds, and Ukraine said it repelled an unprecedented barrage of Russian missiles over Kyiv. Mentioned in this podcast: FTC warns of ‘rampant’ pharma consolidation as it targets $28bn Amgen deal Italy overhauls plans for €200bn in EU Covid recovery funds Ukraine says it repelled ‘exceptional’ barrage of Russian mi...
May 17, 2023•10 min
Ford plans to reduce its future investment in China, and prominent investors are upset with the record number of share buybacks. Plus, the FT’s Eleni Varvitsioti explains that Greece’s economic recovery has come at a cost to some of its citizens. Mentioned in this podcast: Ford to scale back China investments amid EV competition from local rivals Greece’s ‘greatest turnround’: from junk to investment grade Record buyback spree attracts shareholder complaints Krispy Kreme boss shrugs off UK...
May 16, 2023•8 min
Turkish leader Recep Tayyip Erdoğan and rival Kemal Kılıçdaroğlu are locked in a tight battle for the presidency as the election count suggested rising odds of an unprecedented second round, Argentina today will announce a new round of emergency government measures, Twitter's new CEO could mend relations with advertisers who have paused spending on the social media site, and big infrastructure projects have led to soaring demand for the world’s most used natural material, sand. Mentioned in this...
May 15, 2023•8 min
Elon Musk says he’s hired a new CEO for Twitter, and Turkey heads to the polls this weekend for what analysts say is the biggest presidential election there in decades. Plus, the FT’s Katie Martin and Jennifer Hughes explain what the US debt ceiling fight is doing to Treasury markets. Mentioned in this podcast: Elon Musk says he has found a new Twitter CEO EU plans Black Sea internet cable to reduce reliance on Russia Turkish presidential candidate İnce quits race days before vote Turkey: ...
May 12, 2023•10 min
Disney sharply reduced its losses from video streaming in the second quarter, US inflation dipped to its lowest level since April 2021, and the FT’s Joe Leahy explains China’s crackdown on foreign business due diligence firms, including Capvision, Bain and Mintz. Mentioned in this podcast: Disney shaves streaming losses as subscription fees rise US inflation eases to 4.9% in April as Fed tightening takes effect China raids multiple offices of international consultancy Capvision Spotify eje...
May 11, 2023•8 min
Donald Trump has been found liable for the sexual abuse of a journalist in a Manhattan department store in the 1990s, Ireland plans to set up a sovereign wealth fund with its bumper budget surpluses, and China’s foreign minister has condemned EU proposals to impose sanctions on Chinese companies for supporting Russia’s war machine. Plus, the FT’s Hannah Murphy talks about one of the latest challengers to Twitter, Jack Dorsey’s Bluesky. Mentioned in this podcast: Donald Trump found liable in civi...
May 10, 2023•8 min
The Bank of England is set to raise interest rates to their highest level since 2008 this week, and investors are worried about the impact of rising rates on US commercial real estate. Plus, the FT’s James Kynge explains the decline in Chinese investment into Europe. Mentioned in this podcast: Bank of England set to raise rates to highest level since 2008 US lenders warned that commercial property is ‘next shoe to drop’ Chinese investment in Europe falls as watchdogs increase scrutin...
May 09, 2023•8 min
The G7-led price cap on Russian oil exports has forced the Kremlin to raise the tax burden on producers, and education companies are struggling after a warning over ChatGPT. Plus, the FT’s deputy Washington bureau chief Lauren Fedor explains what’s at stake if the US doesn’t raise its debt ceiling. Mentioned in this podcast: Russia’s energy sector hit as Kremlin forced to increase tax Debt ceiling diehard in rural Virginia vows to ‘call Democrats’ bluff’ Yellen warns of ‘constitutional cri...
May 08, 2023•9 min
Apple said on Thursday that revenues shrank for a second straight quarter, the European Central Bank raised interest rates by a quarter of a percentage point, and US regional banks suffered severe stock declines. Mentioned in this podcast: ECB raises rates as Lagarde warns of ‘more ground to cover’ Western Alliance shares recover after it denies report of potential sale What’s changed for regional banks this week? Apple reports weaker revenue for a second straight quarter Ed Sheeran wins ‘...
May 05, 2023•8 min
The US Federal Reserve raised its benchmark interest rate by a quarter of a percentage point, Russia accused Ukraine of attempting to assassinate President Vladimir Putin in a late-night drone attack on the Kremlin, and local elections in the UK are a major test for the largest two parties as they prepare for a general election next year. Mentioned in this podcast: Fed implements quarter-point rate rise and signals potential pause Russia accuses Ukraine of attempting to assassinate Vladimi...
May 04, 2023•10 min
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
