Robert Peston and Steph McGovern bring you insightful business and finance stories.
Join Robert Peston and Steph McGovern as they delve into the key challenges and opportunities facing today’s business world. From the complexities of tech investments to the impact of political decisions on global markets, this podcast offers valuable perspectives on current financial topics. Whether discussing business funding, economic policies, or corporate strategies, they provide listeners with the tools to understand today’s fast-evolving market.
Each episode brings expert analysis on important issues, including market regulations, economic recovery, and the forces shaping the future of work. Robert and Steph bring you the latest insights from influential leaders and top entrepreneurs, making this podcast a must-listen for anyone interested in business growth, financial trends, and the evolving economic landscape.
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The podcast delves into the global economic repercussions of the Middle East crisis, particularly the impact of rising oil and gas prices. It examines Trump's request for international aid to secure the Strait of Hormuz, the UK's difficult decision regarding military deployment, and the potential for escalation. Domestically, the discussion covers the UK government's challenge in funding energy support schemes amid soaring heating oil and fuel costs, balancing affordability with political and public sentiment. The episode concludes by previewing the Chancellor's multi-faceted strategy for national economic growth.
Why are financial markets still failing to price in the true economic costs of "Trump’s war"? How is the UK facing a "double whammy" of both higher interest rates and declining living standards? Why is it considered "ludicrous" to believe the economy could return to normal quickly, even if the war ended tomorrow? Robert and Steph are joined by Mohamed El-Erian for an urgent deep dive into what the government can do to reduce the economic harm caused by the Iran war. Together, they assess the hit...
Robert Peston and Steph McGovern analyze the economic ramifications of the Iran war, detailing how markets reacted to oil price surges and Trump's ambiguous statements. They explore global supply chain disruptions due to threatened shipping lanes, electronic warfare, and the implications of companies invoking "force majeure" amidst material shortages. The discussion highlights the expected "higher for longer" inflation, rising interest rates, and the painful impact on mortgages, underscoring the persistent uncertainties in the global economy.
Marc Warner, founder of Faculty AI, discusses his company's sale to Accenture and the profound impact of AI on jobs, education, and society. He shares insights into Faculty AI's applied AI mission, its pivotal role in the UK's COVID early warning system, and the ethical considerations guiding AI development. Warner also advocates for governments and schools to embrace AI for skill development, outlining a vision for a future where AI enhances human experience.
Robert Peston and Steph McGovern dissect the implications of continued Middle East unrest, focusing on why oil prices haven't dramatically increased and whether investor optimism is justified. They examine the impact on global supply chains, potential food price inflation, and the response of central banks. The discussion also covers hypothetical scenarios for the conflict's resolution under Trump, the UK's fiscal resilience, rising unemployment, and the potential for a US-UK trade dispute.
Robert Peston and Steph McGovern explore the profound economic implications of the escalating conflict in the Middle East, triggered by Trump's actions against Iran. They analyze the immediate market reactions, including surging oil and gas prices, and delve into the potential for both higher global inflation and slower economic growth, challenging central bank policies. The episode also examines the broader geopolitical risks, the UK's precarious economic position, and underlying market instabilities like the AI bubble, concluding with a stark warning about the uncontrollable nature of the conflict's repercussions.
The episode dissects Trump's State of the Union speech, his tariff claims, and the Supreme Court's decision limiting his power. It explores the real-world economic damage on American small businesses and the challenges for larger firms seeking refunds. Additionally, the podcast delves into the tariffs' unsettling effects on UK manufacturers and trade relations, questioning Starmer's appeasement strategy and highlighting AI's role in masking some negative economic impacts.
In this episode, venture capitalist Sir Michael Moritz delves into his personal history, exploring his family's escape from Nazi Germany as detailed in his book 'Ausländer,' and how being an 'outsider' shaped his career. He shares insights on what it takes to identify and scale successful startups like Google and Airbnb, emphasizing traits like humility, communication, and tenacity in founders. Moritz also addresses the challenges for UK tech companies and offers a candid perspective on Donald Trump's political influence and its historical parallels.
What impact does migration have on the UK economy? Are we heading for net-zero migration and does it matter? Is the so called ‘brain drain’ a real thing? And why do politicians love talking about immigration so much? Madeline Sumption MBE - Director of Oxford University’s Migration Observatory - talks to Steph about the complex reality behind the numbers. And as they delve into the stats they also look at the politicisation of immigration and discuss what immigration policy is really for. The Re...
Karen Ward discusses the UK economy's 'split personality,' where strong household and corporate finances contrast with a pervasive lack of confidence, driven by Brexit, energy shocks, and tax speculation. The episode explores how global political chaos often leads to government stimulus driving market highs, and the bond market's increasing role in holding politicians accountable for fiscal prudence, using examples like Japan. Finally, the conversation highlights the UK's strong position in AI development and the technology's transformative impact on markets and the future of work.
Tax lawyer Dan Neidle uncovers the depth of Peter Mandelson's relationship with Jeffrey Epstein, detailing how Mandelson advised JP Morgan to threaten the UK Chancellor during the financial crisis and leaked sensitive government documents. Neidle's investigation also reveals Epstein's role in securing lucrative post-government jobs for Mandelson, highlighting a profoundly corrupt dynamic. The episode further explores Mandelson's and even Sarah Ferguson's interactions with Epstein, exposing ethical lapses among powerful figures and the broader failures in accountability.
Business Secretary Peter Kyle provides insights into the UK's delicate trade relationship with China, balancing security concerns with economic opportunities for both manufacturing and services. He also addresses the controversial figure of Peter Mandelson, reflecting on his brilliance and flaws in light of recent revelations. Additionally, Kyle outlines government strategies to boost UK business growth by supporting scale-ups and tackling the adversity faced by high street businesses, including specific VAT challenges in sectors like hairdressing.
The discussion delves into the Peter Mandelson revelations from the Epstein files, scrutinizing his repeated scandals and Keir Starmer's decision to appoint him as ambassador. It exposes Mandelson's alleged leaks of market-sensitive government information and his betrayal of colleagues, highlighting the extensive web of powerful figures entangled in the scandal and its ongoing ramifications for trust in politics and finance.
How is the mass civil unrest in Iran, and the brutal killing of protestors, linked to the collapse of living standards? Why have Western sanctions been a blunt tool? And how rife is corruption in the Tehran regime? In this episode, Steph and Robert examine whether there is a route back to freedom and prosperity for Iran. Esfandyar Batmanghelidj, Founder and CEO of the Bourse & Bazaar Foundation offers a deep analysis of the economic grievances that have destroyed social cohesion, and examine...
What links Japan’s new prime minister with Liz Truss and Margaret Thatcher? Can Keir Starmer balance relations with Beijing without jeopardising ties to Washington? And why are Steph and Robert so worried about the future of hairdressing? Steph and Robert assess the $7 trillion upheaval in Japan’s bond market and discuss the risks and rewards of Starmer’s visit to China. They also examine the UK’s most overtaxed high-street industry, asking why hairdressers are being hit harder than anyone else ...
Why have US productivity and living standards outstripped the UK’s? Why is it good news that more British businesses are failing? And why is the challenge now to make sure younger, more productive businesses get the capital they need? Steph and Robert talk to Ruth Curtice, Chief Executive of the Resolution Foundation , about the report card the Resolution Foundation has written on whether the government is meeting its central ambition to promote growth - and draw back the veil on Reeves’s income...
What is it that makes Trump back down? Why is Mark Carney, a former governor of the Bank of England, one of the only ones standing up to him? How strong is the EU’s hand in all of this? And why is the UK’s dependency on the US about more than trade? Steph and Robert look at what the latest Trump chaos means for the global economy and why “Britain is America’s lunch” right now. Email: therestismoney@goalhanger.com...
Does the negotiator of Britain’s exit from the EU accept Brexit has failed? What in Liz Truss’s disastrous mini budget does he still endorse? What are his plans to revive the think tank that gave us Thatcherism? In this episode, Steph and Robert sit down with Lord David Frost - the Brexit negotiator turned head of the Institute of Economic Affairs. They examine whether his climate “realism” is in fact climate denialism and his arguments that the British state has grown too big, too intrusive, an...
Are the u-turns on ID cards and business rates bad for the economy? Can the Northern Powerhouse Rail deliver what it’s promising? And why is Donald Trump strong-arming banks and oil companies in a way that looks more like old-fashioned state socialism than free-market capitalism? Steph and Robert examine Labour’s modernisation agenda and ask whether Donald Trump has swapped free-market economics for a “Banana Republic” style economy. Email: therestismo...
Hosts Steph and Robert discuss with venture capitalist Saul Klein why the UK's innovation economy is Europe's strongest, ranking third globally in "Colts" and "Thoroughbreds," and first per capita. Klein asserts that Britain is in its best shape since the late 19th century, driven by a multi-stakeholder capitalist mindset contrasting with Silicon Valley's model. The conversation also addresses challenges like skills gaps, the surprising growth in northern cities, and the critical need for government and domestic capital to fully leverage this inherent innovative strength.
Why is the Trump land grab as much about the economic war with China as it is about defence? How is his obsession with Greenland linked to magnets vital to energy, missiles and communication? And why are the PayPal mafia in lead roles? Steph and Robert assess Trump’s empire building and whether Kier Starmer has finally discovered how to be cheerful about the economy Email: therestismoney@goalhanger.com X: ...
Andrew Carter from the Centre for Cities discusses the UK's persistent regional economic inequalities, highlighting the significant productivity gap between London and other major cities. The conversation delves into how 'new economy' industries drive growth, the crucial need for investment in local skills and education, and the transformative potential of strong transport infrastructure. The episode also assesses the impact of devolution and 'levelling up' initiatives, noting progress in some cities while London's own performance struggles. The discussion concludes with an optimistic outlook for the future of major cities outside of London.
Robert Peston and Steph McGovern review the dramatic economic events of 2025, discussing the UK government's cautious approach to growth, its impact on businesses, and the role of local devolution. They also analyze Donald Trump's significant influence on global trade through tariffs and his challenge to the Federal Reserve's independence. The hosts explore the burgeoning AI investment bubble, the US-China economic rivalry, and conclude with a cautious yet hopeful outlook for the UK's economic future, emphasizing political stability and ambitious policies.
This episode delves into how the UK workforce should prepare for significant changes, including a projection of 3 million jobs at risk over the next decade. Guests discuss the "Skills Imperative" report, emphasizing the importance of transferable "essential skills" like communication and problem-solving. The conversation explores the challenges schools face in integrating these skills due to accountability measures, successful business models for community engagement, and the critical need for lifelong learning and re-skilling for all ages, with a focus on neurodiversity and supporting disadvantaged communities.
Who was Mike Lynch and how did his tech companies make him a billionaire? How did he avoid prison in an American fraud trial when he’d only given himself a 0.4% chance of winning the case? Why did his tragic death spark conspiracy theories around the world? Katie Prescott, technology business editor at The Times, joins Robert and Steph to discuss the extraordinary life and death of a British tech billionaire, on whom she’s based her latest book: The Curious Case of Mike Lynch . Email: the...
Archie Norman discusses Marks & Spencer's transformation, aiming for a 100-year future by embracing innovation in food and clothing, leveraging AI, and tackling retail challenges. He reflects on how past corporate pride led to decline, urging a culture of
M&S Chairman Archie Norman reflects on a turbulent year, detailing the immense impact and critical lessons from a major cyber attack on the business, including the need to assume the worst and the role of media in such crises. He also critiques the current government's economic policies, highlighting the heavy regulatory burden on retailers and the perceived lack of a robust growth strategy. The discussion extends to M&S's strategic decisions regarding store closures, redevelopment plans, and their historical role in food innovation, providing insight into the future of British retail.
How is GB Energy building a third of Britain's daily energy requirements? Can it hit the government’s clean energy target? And how is it creating high skilled jobs and new cutting edge businesses? Steph and Robert find out from the chair of Great British Energy, Jürgen Maier - the former government advisor and CEO of Siemens UK. Email: therestismoney@goalhanger.com X: ...
What are the economic and business consequences for Europe of Trump’s National Security Strategy? How is the US president shaping Hollywood’s future as Netflix and Paramount fight for ownership of Warner Bros? And who is missing from the major conflict negations needed for peace and economic prosperity? Robert and Steph assess the impact of the latest manifestations of Trump’s determination to run everything. Email: therestismoney@goalhanger.com...
How is AI being used to transform how we create new materials? Why did the young British AI company doing it raise most money outside the UK? How might this solve some of our biggest problems like climate change and water pollution? Following their conversation with Science Minister Sir Patrick Vallance, Robert and Steph speak to Dr Chad Edwards, the CEO and co-founder of Cusp AI. Email: restismoney@gmail.com X...
