UBS has reported the biggest-ever quarterly profit for a bank, eurozone core inflation has edged down, and Switzerland has proposed sweeping measures to clamp down on money laundering. Mentioned in this podcast: UBS breaks record with $29bn profit after Credit Suisse deal ‘Deal of the century’ — How UBS’s rescue of Credit Suisse proved a boon Eurozone core inflation edges down ahead of crunch ECB decision Switzerland unveils money laundering clampdown FT Weekend festival promo code: FTPodc...
Sep 01, 2023•11 min
Military officers in oil-rich Gabon said they had seized power, US commerce secretary Gina Raimondo wrapped up a visit to China, and the billionaire founder of Apple supplier Foxconn is running for president of Taiwan. Mentioned in this podcast: Fed warned Goldman Sachs over risks and compliance oversight at fintech unit Military leaders seize power in oil-rich Gabon US commerce secretary hails ‘new approach’ to handling China business frictions Foxconn founder Terry Gou launches bid for T...
Aug 31, 2023•9 min
The EU is set to import record volumes of liquefied natural gas from Russia this year, asset management firm Grayscale won a US court ruling to launch an exchange traded fund tracking bitcoin, and Goldman Sachs has used a fund set up with Chinese state money to buy a series of US and UK companies. Mentioned in this podcast: EU imports record volumes of liquefied natural gas from Russia Grayscale scores major court win against SEC on bitcoin ETF Goldman Sachs bought UK and US co...
Aug 30, 2023•9 min
Goldman Sachs plans to sell one of its personal financial management divisions, Brazil's president, Luiz Inácio Lula da Silva, is close to sealing an unlikely alliance, and the European defence industry is struggling to keep up with demand for ammunition for the Ukraine war. Plus, European Council president Charles Michel proposes a target date for adding new members to the EU. Mentioned in this podcast: Goldman Sachs sells financial planning unit as part of consumer retreat El Niño’s storm clou...
Aug 29, 2023•9 min
Chinese corporate earnings reports are forecast to log poor performance and companies are set to downgrade outlooks, and policy makers walked away from Jackson Hole acknowledging they need to adjust to the changing global economy. Plus, the FT’s Jamie Smyth explains why Ireland is still in a good position for the life science industry boom despite a higher corporate tax. Mentioned in this podcast: Chinese companies’ earnings to lay bare impact of economic slowdown ‘No playbook’: policymakers fac...
Aug 28, 2023•10 min
Russia's leader Vladimir Putin on Thursday publicly said warlord Yevgeny Prigozhin was dead, the emerging markets group Brics has invited six more countries to join, and Turkey’s central bank has sharply boosted interest rates. Plus, biomedical companies are under more pressure to stop using horseshoe crabs for testing. Mentioned in this podcast: Putin says Prigozhin is dead in first Kremlin reaction to plane crash Brics leaders invite 6 nations including Saudi Arabia to join bloc Turkey r...
Aug 25, 2023•10 min
Wagner mercenary group leader Yevgeny Prigozhin has reportedly died after a plane crash north-west of Moscow, Nvidia’s revenue more than doubled in the latest quarter on soaring demand, and US regulators are imposing tougher disclosure rules on private funds. Plus, the FT’s Eli Meixler unpacks the latest developments in Thailand’s government. Mentioned in this podcast: Yevgeny Prigozhin in fatal plane crash, Russian officials say Nvidia’s AI boom exceeds Wall Street’s lofty hopes US regula...
Aug 24, 2023•8 min
Markets are looking for signals from Federal Reserve chair Jerome Powell during this week’s Jackson Hole symposium, global stock markets have lost about $3tn in value this month and there has been a mixed reaction to China’s approach to monetary policy. Mentioned in this podcast: Central bankers to make ‘higher-for-longer’ rate pitch at Jackson Hole Global stocks head for worst month in nearly a year China’s rate caution shines light on $56tn banking system Credit: Fox News Brian Kilmeade:...
Aug 23, 2023•9 min
Description: The sell-off in US government debt continued to hit the world’s largest bond market on Monday, and Silicon Valley start-ups are wondering whether Arm’s listing will reignite the IPO market. Plus, the FT’s foreign editor, Alec Russell, explains why a new geopolitical order is emerging. Mentioned in this podcast: US Treasury yields hit 16-year high on fears over interest rate outlook Silicon Valley start-ups revive listing plans as Arm reignites IPO market The à la carte w...
Aug 22, 2023•9 min
Some of private equity’s biggest names are handing over companies they own to the lending arms of rivals, and Iran is dealing with the consequences of ultra-cheap petrol. Plus, the FT’s Christine Murray explains how the shipping industry is dealing with a severe drought that’s slowing down traffic through the Panama Canal. Mentioned in this podcast: Private equity firms hand over assets to creditors as distress rates rise Iran grapples with unintended consequences of ultra-cheap petrol Sev...
Aug 21, 2023•9 min
US mortgage rates have soared to a 21-year high, US retailer earnings reports send mixed messages on consumer spending, and Saudi Arabia and the United Arab Emirates are buying up thousands of the high-performance Nvidia chips crucial for building artificial intelligence software. Mentioned in this podcast: Walmart sales rise as inflation keeps consumers hunting for bargains Target sales hit by Pride backlash and consumer caution Saudi Arabia and UAE race to buy Nvidia chips to power AI am...
Aug 18, 2023•10 min
Who is Sergei Leontiev? To the US asylum system, he’s an exiled Russian banker who was persecuted by the state and forced to flee. To Russia, he’s said to be responsible for massive fraud. On The Russian Banker, a new series from the Financial Times, reporters Courtney Weaver and Stefania Palma try to uncover the truth, and find a story that tells us about Russia today and how people in the west build stories about who’s good and who’s bad. The Russian Banker is a special series ...
Aug 17, 2023•2 min
Lower gas and electricity costs drove a sharp drop in headline UK inflation in July, Fitch Ratings has downgraded WeWork, and there’s increasing anxiety in China over the real estate sector’s stability. Mentioned in this podcast: UK inflation slows to 6.8% in July as energy prices fall WeWork credit rating cut further into junk territory by Fitch Retail investors complain to Chinese regulator about Zhongzhi Country Garden crisis brings new pain to China’s property sector Looking for a fres...
Aug 17, 2023•9 min
US stocks hit a five-week low as a warning of potential Fitch downgrades sent bank shares lower, Beijing is making one of its biggest top-down efforts in years to tackle the debts racked up by local governments, and a year after passage of the US Inflation Reduction Act and Chips Act the vast majority of investment is going to red states. Mentioned in this podcast: US and European stocks hit five-week lows after strong retail sales data China sends finance experts to tackle regions’ debts ...
Aug 16, 2023•10 min
A surprise election result in Argentina spooked markets, iPhone manufacturer Foxconn is trying to pivot to India, and it looks like there’s a US regulatory crackdown looming for the sustainable investing world. Mentioned in this podcast: Argentina’s markets roil after shock primary election results iPhone maker Foxconn’s cautious pivot to India shows limits of ‘China plus one’ UBS pays $1.4bn to settle US mortgage bond mis-selling case SEC lawyers subpoena fund managers over ESG disclosure...
Aug 15, 2023•8 min
The rouble has fallen to a 16-month low against the dollar, airlines have joined forces with farmers to lobby in Washington so that corn helps power their planes, and growing demand for minerals used in green technology is starting to shake up the geopolitics of the energy world. Mentioned in this podcast: Rouble hits 16-month low as military spending rises and exports fall US airlines ally with farmers to seek subsidies for corn as jet fuel The new commodity superpowers The FT News Briefi...
Aug 14, 2023•9 min
In the final episode of this Tech Tonic season, FT correspondents weigh in on the trends that will determine the future of social media. From Meta’s Threads to artificial intelligence, we ask how platforms will look and feel in years to come. The FT’s deputy Lex editor, host Elaine Moore, speaks with social media reporter Cristina Criddle, global technology correspondent Tim Bradshaw and San Francisco-based tech reporter Hannah Murphy. Plus, we hear from Evan Henshaw-Plath, one of the creators o...
Aug 12, 2023•21 min
Iran has transferred five US citizens from prison to house arrest, US headline inflation in July rose slightly from June, and in Mexico the influence of the military has grown dramatically. Mentioned in this podcast: Iran transfers five imprisoned Americans to house arrest US inflation edges up to 3.2% in July The militarisation of Mexico’s economy FT Weekend festival promo code: FTPodcast Looking for a fresh perspective on the news? Meet FT Edit - the new app from the Financial Times. FT ...
Aug 11, 2023•9 min
Walt Disney reported quarterly results that showed declines at its television and movie businesses, China’s economy has fallen into deflation, and President Joe Biden is banning US tech investment in China. Plus, the FT’s Owen Walker explains why more and more countries in Europe are instituting windfall taxes on banks. Mentioned in this podcast: Disney shares jump after streaming losses narrow Chinese economy falls into deflation as recovery stumbles White House unveils ban on US investme...
Aug 10, 2023•9 min
The UK government is pushing back against an attempt by some members of the House of Lords to close loopholes in transparency legislation, US bank stocks fell after Moody’s cut the credit ratings of 10 midsized banks, and the FT’s Jamie Smyth explains the craze behind new weight-loss drugs. Mentioned in this podcast: UK government resists moves to tighten corporate transparency rules Weak bank stocks weigh on US and European markets Novo Nordisk’s obesity drug cuts risk of strok...
Aug 09, 2023•9 min
Meta has axed a team that used artificial intelligence to create the first database of more than 600mn protein structures, and PayPal is launching a stablecoin. Plus, the FT’s Henry Foy explains why it’s so difficult for the EU to admit new members, Ukraine in particular. Mentioned in this podcast: Meta disbands protein-folding team in shift towards commercial AI PayPal pushes deeper into crypto payments with stablecoin launch The ‘monumental consequences’ of Ukraine joining the...
Aug 08, 2023•9 min
Private equity firms are increasingly offering sweeteners such as fee discounts to secure backing from deep-pocketed investors, US banks are still relying on hundreds of billions of dollars in government financing, and Latin America’s central banks have started cutting interest rates. Mentioned in this podcast: Private equity firms offer sweeteners in struggle to lure reluctant investors Britain’s investors shy away from UK defence companies Regional lenders struggle to get off government ...
Aug 07, 2023•9 min
Can we get rid of the bad bits of social media and keep the good? Is it possible to create a more positive social media experience than the one we get from the platforms that dominate the landscape today? In this episode, Elaine Moore asks what the social media platforms of the future should look like, and whether platforms designed for smaller groups of users with shared interests are the way forward. We hear from writer and tech historian Benj Edwards about the BBS era of t...
Aug 05, 2023•26 min
Stronger than expected online sales helped Amazon beat Wall Street expectations for last quarter, and the Bank of England raised interest rates for the 14th time in a row. Plus, the FT’s Christopher Miller explains the strategy behind a series of drone attacks on Moscow. Mentioned in this podcast: Amazon’s cost-cutting and online sales lift earnings Apple profits rise as services arm surpasses 1bn users Bank of England raises interest rates by 0.25 percentage points Treasury yields keep climbing...
Aug 04, 2023•10 min
Investors are increasing their bets that Europe will sink into a painful economic downturn, and luxury groups are bracing for the end of the post-pandemic recovery boom. Plus, the FT’s Tokyo bureau chief Kana Inagaki explains why Nissan’s focus on regaining ground in China might be a bit of an uphill battle. Mentioned in this podcast: Investors turn gloomy over Europe’s economic outlook Luxury sector slows after ‘bonkers’ post-pandemic spending spree Why Nissan’s woes in China are n...
Aug 03, 2023•9 min
US prosecutors have charged Donald Trump in connection with his attempts to overturn the results of the 2020 election, Uber reported its first operating profit, and Fitch Ratings has cut the US debt rating from triple A to double A plus. Plus, the US Federal Reserve has become a target for Republican presidential candidates. Mentioned in this podcast: Donald Trump indicted over attempt to overturn 2020 election Uber makes first operating profit after racking up $31.5bn of losses Fitch stri...
Aug 02, 2023•10 min
Rising stock prices and falling bond yields in the US have essentially neutralised the impact of the Federal Reserve’s interest rate rises, western oil and gas majors are expected to face renewed scrutiny of their energy transition plans, and China’s metals and mining investments overseas are on track to hit a record this year. Plus, the private equity owners of German sandal maker Birkenstock are considering an initial public offering of the company. Mentioned in this podcast: US stocks n...
Aug 01, 2023•9 min
The Bank of Japan announced that it’s going to allow bonds to rise more freely, and China’s politburo has signalled several target measures meant to boost the country’s economy. Plus, the FT’s Attracta Mooney explains how more frequent heat waves will impact several different industries and the economy as a whole. Mentioned in this podcast: Investment flows poised for historic shift after ‘giant leap’ by Bank of Japan What China’s economic measures mean in practice How an era of extre...
Jul 31, 2023•10 min
Social media today is less about making friends and more about following popular content creators. While those creators are starting to hold some power over the platforms themselves, they’re also looking to become less reliant on the platforms that have enabled them to find fame and fortune online. What does it mean for the future of social media platforms? Our producer Josh Gabert-Doyon travels to the VidCon convention in Anaheim, California to speak to the people at the heart of the creator ec...
Jul 29, 2023•27 min
The European Central Bank has raised interest rates back to their record high, and US bank regulators have advanced plans to impose more arduous capital requirements on the country’s large lenders. Plus, the FT’s Elaine Moore says the Twitter/X rebrand doesn’t make sense, but that’s kind of the whole point. Mentioned in this podcast: ECB raises interest rates back to record high Regulators announce ‘Basel III endgame’ rules for large US banks Twitter/X: maverick rebrand leaves Musk with a ...
Jul 28, 2023•9 min
