America’s regulators say new rules will help maintain the dominance of US Treasuries, and there are still weaknesses in regional banking a year after the failure of Silicon Valley Bank. Plus, a new Bain & Co report reveals that private equity groups are sitting on a record of unsold assets. Mentioned in this podcast: The radical changes coming to the world’s biggest bond market Number of weak US banks jumps as NYCB stabilised on $1bn capital raise Dealmaking slowdown leaves private equity wi...
Mar 11, 2024•11 min
Joe Biden was in the spotlight this week as he made his annual State of the Union address. It was his chance to not only speak directly to the American people, but also prove that he’s up to the task of campaigning for re-election. So how did he do? The FT’s US national editor and columnist, Edward Luce, and Washington reporter, Steff Chávez, join us to discuss. Mentioned in this podcast: Joe Biden just kicked off his re-election campaign Biden attacks Trump in fiery State of the Union spe...
Mar 09, 2024•13 min
Instagram overtook TikTok in new app downloads last year, US President Joe Biden announced a plan to set up a port on the coast of Gaza to help facilitate aid delivery to the enclave, and a huge corruption case in Vietnam has captured the country’s attention. Plus, the FT’s Dan McCrum unpacks the mystery behind how Temu took over the retail world. Credit: Temu Mentioned in this podcast: Trial begins for Vietnamese property tycoon accused of $12bn fraud The mysterious rise of the Chine...
Mar 08, 2024•11 min
Bayer chief executive Bill Anderson has ruled out a fresh capital increase and Ghana’s finance minister is concerned that the country’s new anti-LGBT+ law will put its international funding at risk. Plus, the FT’s Robin Wigglesworth examines whether private equity is a good fit for Norway’s sovereign wealth fund. Mentioned in this podcast: Bayer chief rules out capital increase as investors slam turnaround plan Is private equity actually worth it? Anti-LGBT+ law puts Ghana’s IMF and World ...
Mar 07, 2024•12 min
Chancellor Jeremy Hunt will on Wednesday put a £10bn personal tax cut at the heart of his Budget, and China is setting a 5 per cent growth target for this year. Plus, the FT’s Michael Stott sat down with Argentina’s president Javier Milei to talk about the country’s economy. Credit: AP Mentioned in this podcast: Jeremy Hunt set to cut national insurance by 2p in UK Budget Argentina’s Javier Milei says he doesn’t need congress to save the economy China sets ‘ambitious’ 5% growth target and f...
Mar 06, 2024•10 min
Gold prices have surged close to record levels, and the EU has fined Apple €1.8bn as it boosts its fight against Big Tech. Plus, the FT’s Sam Fleming explains whether the Conservatives planned tax cuts will actually affect the outcome of the upcoming UK election. Mentioned in this podcast: Apple hit with €1.8bn fine for breaking EU law over music streaming Will Big Tech agree to play by Europe’s rules? The hard Budget choices facing a cash-strapped UK The FT News Briefing is produced by Fi...
Mar 05, 2024•10 min
China has pledged “computing vouchers” to subsidise its AI startups, Bayer is still struggling to move past its Roundup woes, and an Israeli senior minister visits the White House. Plus, Warren Buffett is sounding the alarm over wildfires and the utilities industry. Mentioned in this podcast: Buffett sounds wildfire alarm as utilities industry enters new era Bayer slashes dividend by 95% as it steps up effort to cut debt Bayer’s struggling Roundup court strategy China offers AI computing ...
Mar 04, 2024•12 min
The issue of immigration might be Donald Trump’s biggest political boon ahead of the US election in November, but President Joe Biden went to the US-Mexico border this week to try to change the narrative. The FT’s Houston correspondent, Myles McCormick, and US political news editor, Derek Brower, join this week’s Swamp Notes to examine whose case voters find more convincing. Credit: Fox10, PBS NewsHour Mentioned in this podcast: Surge in border crossings creates political upheaval in the US...
Mar 02, 2024•13 min
The cost of Rishi Sunak’s plan to send asylum seekers to Rwanda could exceed £580mn by the end of the decade, and Toyota’s bet on hybrid vehicles has paid off, so far. Plus, the FT’s Samuel Agini explains how Formula One is trying to reinvent itself. Credit: Formula 1; Netflix Mentioned in this podcast: Rishi Sunak’s Rwanda asylum scheme could cost UK £580mn, watchdog warns Was Toyota’s bet on hybrid cars right all along? Formula One’s growing pains The FT News Briefing is produced by Fiona...
Mar 01, 2024•12 min
Uber chief executive Dara Khosrowshahi has received about $136mn in stock options after hitting a performance target, and Adani is working to push India’s military capabilities. Plus, the FT’s Stephen Foley explains why McKinsey is drawing ire from US lawmakers. Mentioned in this podcast: US Supreme Court will hear Trump presidential immunity appeal McKinsey-led think-tank advised China on policy that fed US tensions McKinsey website touted its advice to Chinese government ministries Adani...
Feb 29, 2024•10 min
Vladimir Putin’s forces have rehearsed using tactical nuclear weapons at an early stage of conflict with a major world power and Emmanuel Macron, president of France, has refused to rule out sending troops to Ukraine. Plus, profits for the biggest US oil and gas producers have almost tripled under President Joe Biden, even as the industry berates his administration’s 'hostile' policies. Mentioned in this podcast: Leaked Russian military files reveal criteria for nuclear strike Macron says sendin...
Feb 28, 2024•9 min
Sweden is set to become a Nato member, the UK Financial Conduct Authority is planning to name firms under investigation at a much earlier stage, and Microsoft has struck a deal with a French artificial intelligence start-up to broaden its involvement in the industry beyond OpenAI. Mentioned in this podcast: Sweden overcomes final hurdle to join Nato in historic shift FCA plans to name firms under investigation in UK deterrence drive Microsoft strikes deal with Mistral in push beyond OpenAI The F...
Feb 27, 2024•9 min
Israel plans to raise debt and taxes to fund its war in Gaza and global house prices are on the rise. Plus, FT correspondent Paola Tamma discusses some of the troubles plaguing the EU’s key pandemic stimulus fund. Mentioned in this podcast: US biotech fundraising boom ends 2-year deal drought Is the EU’s Covid recovery fund failing? Global house prices rebound as economists predict turning point Israel plans $60bn debt raising and tax rises to fuel defence spending The FT News ...
Feb 26, 2024•10 min
Former US President Donald Trump is the subject of four criminal cases and several civil suits. That means the presumptive Republican nominee will be spending a lot of time in courtrooms ahead of voting day in November. Still, it looks like all these legal liabilities might be giving him a political boost. The FT’s US legal and defence correspondent, Stefania Palma, and US managing editor, Peter Spiegel, join this week’s Swamp Notes to explain why. Mentioned in this podcast: Are US presidents ab...
Feb 24, 2024•13 min
The UK and EU will on Friday sign a deal to co-operate more closely in tackling illegal immigration and criminal gangs, and Japan’s Nikkei 225 index hit a record high after 34 years. Plus, the FT’s Alison Killing talks about Russia’s failed rebuilding of the Ukrainian city of Mariupol. Mentioned in this podcast: UK and EU agree to co-operate more closely on migration Japan’s Nikkei 225 index eclipses record high after 34 years Inside Mariupol: Russia’s new Potemkin village The FT News...
Feb 23, 2024•12 min
Nvidia’s net income soared nearly 800 per cent in the latest quarter compared to the same period in 2022, HSBC reported an 80 per cent drop in quarterly profit, and Boeing is replacing the executive in charge of manufacturing its 737 Max aircraft. Plus, Indonesia’s incoming president is creating concerns for the country’s democracy. Mentioned in this podcast: Nvidia declares AI ‘tipping point’ as quarterly revenues jump 265% HSBC shares fall most since 2020 after profits plummet 80% Boeing...
Feb 22, 2024•9 min
Donald Trump is losing support from small donors, US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, and Barclays updated investors on its strategy for the first time in eight years. Mentioned in this podcast: Donald Trump’s donor numbers fall by 200,000 compared with 2019 Capital One agrees to buy Discover Financial for $35bn Barclays to return £10bn to shareholders Subscribe to the FT US Election Countdown newsletter The FT News Briefing is produced by Fiona Sy...
Feb 21, 2024•10 min
Ukraine withdraws from Avdiivka, lacking weaponry and ammunition, and there are questions about OpenAI’s business model. Mentioned in this podcast: Israel’s economy shrank at 20% rate after outbreak of war Can OpenAI create superintelligence before it runs out of cash? External Link Battle for Avdiivka tests Ukraine’s new commander The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Josh Gabert-Doyon, Manuela Saragosa, Sam Giovi...
Feb 20, 2024•12 min
The European Union plans to hit Apple with a €500mn fine over music streaming, German companies make record investments in the US, and emerging market investors switch to ETFs that exclude China. Mentioned in this podcast: US investors in emerging markets switch to ETFs that exclude China Navalny’s allies accuse Russian authorities of trying to cover up his death EU to hit Apple with first ever fine in €500mn penalty over music streaming The FT News Briefing is produced by Fiona Symon, Sonja Hut...
Feb 19, 2024•11 min
Donald Trump picked plenty of fights with Nato during his time in office. Now, even as war rages in Ukraine, candidate Trump is back at it. But is his aggressive attitude toward Nato resonating with American voters? The FT’s Lauren Fedor and Alec Russell join this week’s Swamp Notes to discuss. Mentioned in this podcast: Nato needs to prepare for Trump’s unilateralism on steroids Donald Trump says Russia can do what it wants to Nato allies who pay too little Sign up for the FT’s Swamp Notes news...
Feb 17, 2024•13 min
European Commision president Ursula von der Leyen says Europe’s military needs to step up and two of the world’s biggest asset managers are quitting an investor group set up to prod companies over global warming. Plus, big food companies are jumping into new farming practices meant to store carbon underground, but there are significant hurdles. Mentioned in this podcast: Von der Leyen calls on EU to subsidise defence production JPMorgan and State Street quit climate group as BlackRock scal...
Feb 16, 2024•12 min
UK chancellor Jeremy Hunt is considering slashing public spending to fund pre-election tax cuts, Germany is looking to boost its defence spending at a crucial time for Europe, and Citigroup has started tracking how many calls its private bankers are making to clients. Plus, the FT’s Madison Marriage talks about her new podcast on the dangers of meditation retreats. Mentioned in this podcast: Jeremy Hunt faced with slashing UK public spending to fund tax cuts Will Germany deliver on its grand mil...
Feb 15, 2024•11 min
Investors scaled back bets that the US Federal Reserve will begin cutting interest rates in May, and Arm shares soared after the UK chip designer reported higher revenues boosted by strong demand for artificial intelligence. Plus the FT’s Felicia Schwartz explains how the relationship between US President Joe Biden and Benjamin Netayahu, prime minister of Israel, is being affected by the war in Gaza. Mentioned in this podcast: Investors scale back bets of May rate cut on strong US inf...
Feb 14, 2024•12 min
US law firm Latham & Watkins is cutting off automatic access to its international databases for its Hong Kong-based lawyers, one of the oldest and best-known hedge fund strategies has suffered nearly $150bn in client withdrawals over the past five years, and the price of bitcoin touched $50,000 for the first time since 2021. Plus, the FT’s Kaye Wiggins explains how a Chinese financier is turning small businesses into a data gold mine. Mentioned in this podcast: Latham & Watkins cut...
Feb 13, 2024•11 min
EY took on $700mn in debt for its failed “Project Everest” plan, and tech companies are shedding jobs in a pivot to AI. Plus, Shein is seeking Beijing’s approval ahead of its IPO. Mentioned in this podcast: Pakistan in power vacuum after Imran Khan defies election odds from jail EY took on $700mn in debt for doomed ‘Project Everest’ spin-off plan Shein seeks Chinese regulators’ tacit approval for US public offering Tech companies axe 34,000 jobs since start of year in pivot to AI The FT Ne...
Feb 12, 2024•11 min
Introducing Untold: The Retreat, a new podcast from the special investigations team at the Financial Times. In the first episode of The Retreat, Madison Marriage receives an email from a desperate father named Stephen. Over the past five years, he says, his twin daughters have changed drastically. They were bright and outgoing, with exciting plans for their future. But over their early twenties, they became increasingly distressed, struggling to eat or sleep and disassociating from normal life. ...
Feb 11, 2024•43 min
For decades, common political wisdom has held that Americans vote based on their satisfaction with the economy. But even as the US economy booms, with persistently low unemployment and wage growth outpacing inflation, President Joe Biden’s approval rating continues reaching record lows. The FT’s Rana Foroohar and James Politi join this week’s Swamp Notes to explain why. Mentioned in this podcast: What if it’s not the economy, stupid? Why Biden gets little credit for a strong US economy Sig...
Feb 10, 2024•11 min
Ukraine’s President Volodymyr Zelenskyy dismisses his top commander, Gaza’s last refuge is Israel’s next target and OpenAI is on track to hit $2bn in revenue. Mentioned in this podcast: Volodymyr Zelenskyy dismisses Ukraine’s ‘iron general’ Visual analysis: Gaza’s last refuge becomes Israel’s next target Disney, Fox and Warner sports streaming platform foreshadows consolidation OpenAI on track to hit $2bn revenue milestone as growth skyrockets The FT News Briefing is produced by Fiona Sym...
Feb 09, 2024•11 min
Labour leader Sir Keir Starmer is set to announce the party is abandoning its target to spend £28bn a year on green investment, Uber has reported its first annual operating profit, and the far-right winner of Dutch elections just can't seem to form a government. Mentioned in this podcast: Labour set to ditch plan to spend £28bn a year on green investment Geert Wilders struggles to find coalition partners in the Netherlands Uber records first annual profits as market value approaches $150bn...
Feb 08, 2024•10 min
Standard Chartered has sounded out UK political heavyweights Sir Charles Roxburgh and Sir Sajid Javid as potential candidates for its next chair, BP reported its second-biggest annual profit in a decade, and the FT’s Michael Stott explains the dark side of money flowing from the US to Mexico. Plus, WeWork’s former CEO Adam Neumann is trying to buy the company out of bankruptcy. Mentioned in this podcast: Standard Chartered taps political heavyweights as potential new chair BP targets boost...
Feb 07, 2024•11 min
