The Federal Reserve raised its benchmark interest rate by a quarter of a percentage point, Facebook parent Meta returned to double-digit revenue growth for the first time since the end of 2021, and US federal prosecutors charged British billionaire Joe Lewis with 19 counts related to insider trading. Plus, China’s foreign minister Qin Gang vanished a month ago and was not replaced until this week. Mentioned in this podcast: Federal Reserve raises US interest rates to highest level in 22 years Fa...
Jul 27, 2023•9 min
Alphabet earnings beat expectations, a new report from the IMF says the future of the global economy is looking a little brighter than it did a few months ago, and the troubled regional bank PacWest has agreed to merge with Banc of California. Plus, the FT’s James Shotter explains the role Israeli businesses are playing in protesting the country’s judicial reforms. Mentioned in this podcast: Alphabet revenue beats forecasts on robust digital ad performance IMF upgrades forecasts but warns ...
Jul 26, 2023•9 min
Credit Suisse has been fined $388mn by US and British regulators, and Spain is facing an uncertain political future as the right and left failed to secure a clear path to forming a government. Plus, Top US consultancies are struggling to attract business in China as Beijing’s national security raids scare away local clients. Mentioned in this podcast: Credit Suisse fined $388mn over Archegos collapse Spain faces uncertain political future after election deadlock Work dries up for US consultancie...
Jul 25, 2023•9 min
America’s risky corporate loan market has been hit by the biggest slew of downgrades since the depths of the Covid crisis in 2020, and European banks with large retail arms are expected to report big second-quarter profits. Plus, the FT’s sports editor Josh Noble explains why the commercial rollout of the Women’s World Cup has been so disappointing. Mentioned in this podcast: US junk loan market hit with flurry of credit rating downgrades UK banks share more of the benefits of interest rat...
Jul 24, 2023•9 min
There’s a growing feeling that social media is bad for us: bad for society and bad for our wellbeing. That trend has culminated in a new wave of legislation in the United States aiming to address social media’s impact on young people’s mental health. But in this episode, Elaine Moore, deputy editor of the FT’s Lex column, looks at some of the unanswered questions over whether social media really causes us harm, and what legislation will mean for the future of the social media business model. Are...
Jul 22, 2023•26 min
The Nasdaq Composite had its biggest one-day drop in more than four months, the winner of Thailand’s general election has been suspended from parliament, and the FT’s Clive Cookson tells us about two huge breakthroughs in the treatment of Alzheimer’s. Mentioned in this podcast: Nasdaq drops more than 2% after Netflix and Tesla results disappoint Thai election winner blocked from premiership Eli Lilly drug shown to slow Alzheimer’s progression The FT News Briefing is produced by Fiona Symon...
Jul 21, 2023•9 min
A crackdown on password sharing helped Netflix add nearly 6mn subscribers, UK inflation fell to a 15-month low of 7.9 per cent in June, Ukraine’s armed forces are having a hard time with Russian mines and Spain’s Sunday election could mean the end of Pedro Sánchez’s time as prime minister. Mentioned in this podcast: Netflix’s password-sharing crackdown pays off with nearly 6mn new subscribers UK inflation falls more than expected to 7.9% in June Could the UK inflation crisis be at a turnin...
Jul 20, 2023•10 min
Big investment banks are turning more bearish on the dollar, and Europeans struggle with a near-record heatwave. Plus, the FT’s Anastasia Stognei explains why Russia is starting to seize assets from food and beverage companies. Mentioned in this podcast: Kremlin oligarchs circle Danone and Carlsberg’s Russian assets Wall Street banks ditch bullish dollar bets over ‘soft landing’ hopes Scorching Europe struggles to adapt to near-record temperatures Carlos Ghosn says he filed $1bn lawsuit so...
Jul 19, 2023•9 min
Thames Water’s biggest investor slashed the value of its stake last year, Ford’s steep price cut for its electric pick-up truck rattled shareholders and BlackRock will offer retail investors more of a voice in its biggest exchange traded fund. Plus, the FT’s Thomas Hale unpacks what’s ailing China’s economy. Mentioned in this podcast: Thames Water’s biggest investor cut value of its stake by 28% Does Xi Jinping need a plan B for China’s economy? Ford shares sink after steep price cut...
Jul 18, 2023•9 min
The EU wants other polluting nations to cut emissions faster. Three of the largest US banks reported a surge in profits last week from charging more for loans as more US banks report this week. Plus the FT’s political editor, George Parker, examines how the UK conservative party might squeeze out a win during the country’s next general election. Mentioned in this podcast: ‘We are on for a massive defeat’: can the Tories prevent the inevitable? Large US banks reap bumper profits on Federal Reserv...
Jul 17, 2023•10 min
Mark Zuckerberg used advertising to turn Facebook into the first global social media giant, boasting 3bn users around the world. But today there are questions about the business model that has powered it for the past 15 years, and what Zuckerberg’s new focus on building the Metaverse means for the platform that started it all. Elaine Moore speaks to veteran Silicon Valley investor Roger McNamee, one-time advisor to Zuckerberg; writer and researcher Tim Hwang, author of Subprime Attention Crisis;...
Jul 15, 2023•27 min
The UK government has invited Saudi Crown Prince Mohammed bin Salman to London, and US regulators are going after the company behind ChatGPT. Plus, the FT’s Beijing bureau chief, Joe Leahy, explains how China’s youth are dealing with high levels of unemployment. Mentioned in this podcast: ChatGPT maker investigated by US regulators over AI risks Prince Mohammed bin Salman invited to visit UK in autumn Rachman Review: Will this year’s climate talks be a washout? China’s youth left beh...
Jul 14, 2023•8 min
US inflation fell sharply to 3 per cent in June, the $1.35tn US junk bond market has shrunk by almost $200bn since its all-time peak in late 2021, and tensions started to boil over during Nato’s two-day summit. Mentioned in this podcast: US inflation slows to 3% as interest rate rises bite US junk bond market shrinks as rising rates put off borrowers ‘We’re not Amazon’: tensions with Ukraine surface at Nato summit The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filip...
Jul 13, 2023•10 min
Jeremy Hunt has ordered ministers to find more than £2bn to fund public sector pay rises this year, JPMorgan is trying to scoop up Silicon Valley Bank’s clients, and a US court denies a watchdog’s request to block the Microsoft-Activision merger Mentioned in this podcast: Nvidia in talks to be an anchor investor in Arm IPO JPMorgan hires dozens of start-up bankers to capitalise on SVB collapse US judge denies FTC attempt to block Microsoft’s Activision deal Behind the Money: Frances Haugen’s les...
Jul 12, 2023•10 min
Hedge funds have cut their bets on a rising US stock market to the lowest level in at least a decade and pivoted to Europe, a top US banking regulator has announced tougher capital rules for a broader range of lenders, and Dutch PM Mark Rutte is quitting politics after the collapse of his coalition. Plus, the FT’s Henry Foy explains why Nato is torn over whether to admit Ukraine. Mentioned in this podcast: Hedge funds slash bets on US after rally and pivot to Europe Top US bank watchdog ou...
Jul 11, 2023•10 min
Israel is set to start voting on controversial judicial reforms on Monday and the largest US banks are expected to report the biggest jump in loan losses since the onset of the pandemic. Plus, global manufacturers are shifting business out of China to Vietnam. Mentioned in this podcast: Benjamin Netanyahu faces fresh wave of resistance to Israeli judicial reform plans Wall St to report biggest jump in loan losses since pandemic Vietnam becomes vital link in supply chain as business pivots ...
Jul 10, 2023•8 min
Investors sold stocks and bonds across the world on Thursday as US borrowing costs touched a 16-year high, US Treasury secretary Janet Yellen is in China, and Meta said more than 30mn people had signed up to its long-awaited competitor to Twitter. Plus, the FT’s Africa editor David Pilling explains why conservation in the Congo has become contentious. Mentioned in this podcast: US borrowing costs hit 16-year high as markets roiled by jobs data Janet Yellen to visit China in new US push to ...
Jul 07, 2023•10 min
The US and Germany are among the western allies falling behind in delivering promised heavy weapons to Ukraine, and big asset managers are flocking to Latin American bonds and currencies. Plus, the FT’s Africa editor David Pilling introduces us to some conservationists working to protect elephants from poachers in the Congo River Basin. Mentioned in this podcast: Latin America’s bonds and currencies lure yield-hungry investors In search of the ‘village of the elephants’, deep in the ...
Jul 06, 2023•10 min
Israel’s raid on the West Bank reignites fears of escalating violence, Switzerland is looking into potential Russian sanctions violations and we continue our series on the Congo Basin with David Pilling, the FT’s Africa editor. Plus, meme stock traders shop for Bed Bath & Beyond. Mentioned in this podcast: Switzerland questions oil trader over sidestep of Russian sanctions In search of the ‘village of the elephants’, deep in the central African rainforest Eight injured after car rams ped...
Jul 05, 2023•11 min
The UK’s financial watchdog has summoned bank chief executives to address concerns that savings rates are lagging behind the surging cost of mortgages, Internet brand, Yahoo, is planning a return to the public markets, and the FT has released an investigation into sexual allegations toward celebrated architect, David Adjaye. Plus, the FT’s Africa editor, David Pilling, takes us to one of the biggest rainforests in the world. Mentioned in this podcast: UK watchdog summons bank bosses t...
Jul 04, 2023•10 min
Apple has been forced to make drastic cuts to production forecasts for the mixed-reality Vision Pro headset, French president cancels a trip to Germany as protests continue in Paris over the police killing of a teenager, and the Nasdaq Composite recorded its best first half of the year since 1983. Plus, the FT’s Taylor Nicole Rogers tells us what resuming student loan payments will mean for borrowers and the larger economy. Mentioned in this podcast: Apple forced to make major cuts to Vision Pro...
Jul 03, 2023•10 min
Elon Musk took over Twitter with the promise of promoting free speech and making the loss-making platform profitable again. But his critics say he’s destroying Twitter’s culture and driving it to bankruptcy. How much danger is the company really in? In the first episode in a new series of Tech Tonic, Elaine Moore, deputy editor of the FT’s Lex column, asks whether Musk will save Twitter or destroy it. In this episode we hear from Evan Henshaw-Plath, one of the original creators of Twitter; Rumma...
Jul 01, 2023•29 min
The US Supreme Court has curbed universities’ ability to consider race in admissions, turmoil at the top of Thames Water has left the UK government scrambling to prepare contingency plans, and China has passed a new foreign relations law that deepens President Xi Jinping’s control over the country’s external relations. Plus, the FT’s Raphael Minder explains how Belarus's President Alexander Lukashenko ended up brokering a deal to stop the attempted coup in Russia. Mentioned in this podcast: US S...
Jun 30, 2023•10 min
Sterling suffers biggest one-day fall against the dollar in a month following UK growth fears, US banks are stepping up the sales of their loan portfolios, and Odey Asset Management continues to spiral after an FT investigation into sexual misconduct allegations at the hedge fund. Mentioned in this podcast: US banks step up sales of loan portfolios to private lenders Odey Asset Management in talks with SW Mitchell over Oliver Kelton’s funds Wall Street shares waver as central bankers warn ...
Jun 29, 2023•9 min
Sierra Leone’s president, Julius Maada Bio, has won a second term in office, the US Supreme Court rejects a Republican election plan, and a New York court has ruled that FTX’s Sam Bankman-Fried cannot dismiss the criminal charges against him. Plus, a leading Japanese semiconductor equipment maker has accepted a $6.4bn buyout offer from a state-backed fund. Mentioned in this podcast: Bio secures second term as Sierra Leone leader US Supreme Court affirms state courts’ authority over electio...
Jun 28, 2023•8 min
The head of the Wagner militia has denied trying to overthrow the Russian government, and western banks may not be able to participate in the Shanghai IPO of Swiss chemicals group Syngenta. Plus, the Federal Reserve’s campaign to increase interest rates is doing damage to short-term bond yields. Mentioned in this podcast: Wagner chief hails march on Moscow as ‘masterclass’ but denies coup bid Bets on bond renaissance frustrated by stubbornly high inflation China’s biggest IPO in years poses $9bn...
Jun 27, 2023•9 min
Wagner troops withdrew from Russia late Saturday night after an abandoned coup attempt on Moscow, Greek prime minister Kyriako Mitsotakis won re-election in a blowout, and foreign investors viewed Turkey’s first interest rate rise in years as a ‘baby step’ towards ending the country’s economic crisis. Mentioned in this podcast: Kyriakos Mitsotakis set for return to power in Greek elections Wagner troops withdraw as Russian uprising leaves Putin weakened Investor scepticism remains after Tu...
Jun 26, 2023•10 min
Home prices in the US and UK skyrocketed during the coronavirus pandemic. In a special four-part series, we explored how they got so out of whack and what might work to bring back some balance. Mentioned in this podcast: Homesharing offers a cheaper alternative to rental accommodation Turning offices into condos: New York after the pandemic The Fed’s waiting game: is the US economy finally starting to crack? How stubborn inflation has undermined the UK housing market The FT News Briefing i...
Jun 25, 2023•26 min
The Bank of England’s 50 basis point interest rate rise is causing concern for the UK’s already-high mortgages, and Germany has signed another long-term deal to import more US liquefied natural gas. Plus, the FT’s Aanu Adeoye explains what’s at stake in Sierra Leone’s election this weekend. Mentioned in this podcast: ‘We’re suffering’: soaring costs create opening for Sierra Leone’s opposition Bank of England raises interest rates by 0.5 percentage points Mass UK house repossessions unlike...
Jun 23, 2023•10 min
India’s prime minister Narendra Modi is set to address the US Congress today, and US regulators are accusing Amazon of duping customers into signing up for its Prime service without their consent. Plus, Italy has stripped China’s Sinochem of its influence as the largest shareholder in the Italian tyremaker Pirelli. Mentioned in this podcast: India’s Narendra Modi embarks on US state visit to deepen defence and tech ties Washington’s embrace of Modi carries a price FTC alleges Amazon ‘trick...
Jun 22, 2023•9 min
