Share buybacks on mainland China’s biggest exchanges have soared to a record high this year, and Israel has attacked an Hizbollah-affiliated financial institution in Lebanon. Plus, Disney has appointed former Morgan Stanley boss James Gorman as its new chair, and a trip to America’s third-biggest shopping mall offers answers to what’s really going on in the US election. Mentioned in this podcast: Israel strikes Hizbollah-linked lender in Lebanon Disney sets new timetable to replace Bob Ige...
Oct 22, 2024•11 min•Transcript available on Metacast Trading in the world’s second-largest IPO of 2024 begins on Tuesday, but retail investors have given a lukewarm reception to Hyundai Motor India’s listing. A coalition of oil-producing African countries is seeking $5bn to fund projects on the continent, and Boeing’s largest labour union will vote on Wednesday whether to end a costly strike. Uber has explored a possible bid for Expedia, in what would be the company’s largest acquisition. Plus, Elon Musk pledges to pay $1mn per day to random regis...
Oct 21, 2024•11 min•Transcript available on Metacast The 2020 US election was one of the most contested in American history, and it culminated in an unprecedented attack on the US Capitol building by supporters of Donald Trump. FT data journalist Eva Xiao and US legal correspondent Joe Miller join this week’s Swamp Notes podcast to explain how Trump and his allies are preparing to challenge the 2024 vote, and what election officials around the country are doing to prepare. Mentioned in this podcast: How Trump allies are sowing election doubts ‘The...
Oct 19, 2024•16 min•Transcript available on Metacast Israel says it has killed Yahya Sinwar, Hamas’s leader and the architect behind the October 7 2023 attacks. Mixed quarterly earnings from chipmakers send tech stocks yo-yoing, and the European Central Bank has cut interest rates by a quarter-point, amid signs that growth and inflation are weakening. Plus, South Africa’s Government of National Unity works to resolve tensions as it passes its 100-day milestone. Mentioned in this podcast: Hamas leader Yahya Sinwar killed in Gaza, Israel says ...
Oct 18, 2024•11 min•Transcript available on Metacast Rights groups say Israel appears to be implementing a controversial plan to force Hamas into submission by laying siege to the north of Gaza. BHP’s chief executive met government officials in South Africa last week, fuelling speculation that the miner will resurrect its failed bid for rival Anglo American. Plus, the downfall of once-hyped genetic testing company 23andMe, and Prada launches in to spacesuit design. Mentioned in this podcast: More than 100 killed in Nigeria fuel tanker e...
Oct 17, 2024•11 min•Transcript available on Metacast Shares in ASML led a tech rout on Nasdaq on Tuesday after the chipmaker warned of a slower recovery in the semiconductor market, and Goldman Sachs’ quarterly profits jumped 45 per cent to $3bn, boosted by its equity trading business. Asian battery makers are racing to develop new generations of superfast charging for electric vehicles, and a growing list of cash-strapped companies are deferring loan repayments to private credit funds. Mentioned in this podcast: ASML shares drop sharply after war...
Oct 16, 2024•10 min•Transcript available on Metacast OpenAI is considering a largely untested company model to protect chief executive Sam Altman from outside interference, and virtually all global insurers now include at least one low-carbon transition goal within their investment plans. Millions of dollars in bets are being placed on the US presidential election following the lifting of a domestic betting ban last week. Plus, China’s deflationary pressures picked up in September with weaker than expected consumer and factory prices, and the 2024...
Oct 15, 2024•11 min•Transcript available on Metacast Russia has expanded the capacity of its shadow fleet of oil tankers despite western sanctions, and US bank stocks hit their highest level since before the collapse of Silicon Valley Bank on Friday, following better than expected quarterly earnings. Plus, the Eurozone’s weak economic growth and sluggish consumer prices have raised concerns about low inflation, and Argentina’s president Javier Milei is not ready to lift the country’s currency controls. Mentioned in this podcast: Russia’s shadow fl...
Oct 14, 2024•11 min•Transcript available on Metacast Both chambers of the US Congress are like the country they represent: narrowly divided. But while Democrats currently hold a one-seat Senate majority, Republicans are increasingly confident that they’ll take back control of the chamber after the election next month. The FT’s Washington bureau chief, James Politi, and the Cook Political Report’s Senate and Governors editor, Jessica Taylor, join this week’s Swamp Notes to explain why this year’s Congressional map looks so good for Republicans.&nbs...
Oct 12, 2024•15 min•Transcript available on Metacast The French government has proposed a budget for next year with some €60bn worth of spending cuts and tax increases, and Hurricane Milton ploughed across Florida on Wednesday. US inflation fell to 2.4 per cent in September . Plus, we look ahead to Japan’s early elections later this month. Mentioned in this podcast: French PM unveils shock therapy in 2025 budget US inflation fell to 2.4% in September Hurricane Milton leaves millions without power after lashing Florida Japan’s new prime minis...
Oct 11, 2024•12 min•Transcript available on Metacast HSBC’s top-paid bankers to bear the brunt of cost-cutting restructuring, and the UK Conservative party leadership race has been whittled down to two rightwingers. Plus, Germany’s economy is expected to shrink, and the US government is considering seeking the break-up of Google to end its monopoly in search. Mentioned in this podcast: US weighs Google break-up in landmark antitrust case Jenrick vs Badenoch: Meet the next Conservative leader Germany expects economy to shrink in 2024 af...
Oct 10, 2024•10 min•Transcript available on Metacast The head of KPMG US says the industry urgently needs to make it easier to become an accountant, and the EU is suing Hungary’s government over a new security law it says is in breach of citizens’ fundamental rights. Plus, India races to extract as much oil as possible while there remains a market for crude. Mentioned in this podcast: KPMG US head says the industry urgently needs to make it easier to become an accountant India in rush to boost oil production before energy transition &...
Oct 09, 2024•11 min•Transcript available on Metacast Big bank bosses join a growing list of prominent financiers expected to skip COP29 next month, and Spain proposes a new mechanism to help harmonise the EU’s capital and credit markets. Plus, activist investor Starboard Value has built a $1bn position in struggling drugmaker Pfizer, and tens of thousands of striking machinists are threatening Boeing’s recovery. Mentioned in this podcast: “You only go to the party if everyone is going”: finance bosses shun COP29 Spain to propose mini-...
Oct 08, 2024•11 min•Transcript available on Metacast A new report forecasts that Donald Trump would raise the US debt by twice as much as Kamala Harris, and Elon Musk’s SpaceX is quietly opening up a new front in a global battle over a scarce and precious resource: radio spectrum. Plus, US partners at accounting firm EY have been told their pay for 2024 will be deferred, and a year after the October 7 attacks, international criticism of the Gaza war has led many Israelis to retreat inwards. Mentioned in this podcast: Donald Trump would raise...
Oct 07, 2024•12 min•Transcript available on Metacast The Biden administration has tried and failed to contain fighting in the Middle East over the past year - and now, the conflict is close to spiralling into all-out war. The FT’s US foreign affairs and defence correspondent Felicia Schwartz and US political news editor Derek Brower join this week’s Swamp Notes to explain what Kamala Harris and Donald Trump are telling voters they’ll do to end the conflict. Credit: USA Today Mentioned in this podcast: Israel and Iran have just delivere...
Oct 05, 2024•14 min•Transcript available on Metacast A strike that closed US east and Gulf coast ports will be suspended, and market reaction to escalations in the Middle East remains minimal. Plus, Italy’s government will raise more taxes from companies earning windfall profits, and luxury group LVMH will become a top sponsor of car-racing franchise Formula One. Mentioned in this podcast: US dockworkers suspend strike that threatened to cripple ports Italy seeks to raise more windfall taxes from companies The market reaction to global tens...
Oct 04, 2024•11 min•Transcript available on Metacast UK house sales rise at the fastest rate in three years, mass displacement in Lebanon risks overwhelming a country battered by economic crises, and Brussels intends to postpone a controversial EU anti-deforestation law for a year following a backlash. Plus, two-thirds of all new solar and wind power projects are based in China. Mentioned in this podcast: UK house sales rise at fastest pace in three years, data shows China’s accelerating green transition EU moves to delay anti-defores...
Oct 03, 2024•12 min•Transcript available on Metacast Iran fires missiles at Israel, hours after the IDF launches a ground offensive in Lebanon. France’s new Prime Minister Michel Barnier announced tax rises on large companies and the wealthy, and US business groups warned of economic ‘paralysis’ after tens of thousands of dockworkers went on strike. Plus, investors are seeking to profit from the uncertainty over the outcome of the US presidential race. Mentioned in this podcast: Iran launches missile attack against Israel French premi...
Oct 02, 2024•9 min•Transcript available on Metacast SoftBank will invest $500mn into OpenAI as part of a fundraising round that will give the start-up a $150bn valuation, and Chinese equities post their best day since the 2008 global financial crisis. Plus, new data suggests artificial intelligence start-ups are bringing in revenues at an unprecedented rate, and South Korean exporters are struggling to compete with a glut of goods from Chinese rivals. Mentioned in this podcast: SoftBank to invest $500mn in OpenAI AI start-ups generat...
Oct 01, 2024•11 min•Transcript available on Metacast In the wake of Hassan Nasrallah’s death, Hizbollah looks for a way forward, and French far-right leader Marine Le Pen goes on trial for allegedly embezzling EU funds. Peter Thiel’s venture capital firm is backing a nuclear start-up aimed at fueling artificial intelligence, and a handful of high frequency trading firms have seized market share from traditional investment banks. Mentioned in this podcast: What's next for Hizbollah? Marine Le Pen goes on trial over EU expenses scandal ...
Sep 30, 2024•11 min•Transcript available on Metacast Voters consistently tell pollsters that economic issues are their top electoral concern. Kamala Harris and Donald Trump have spent the past few weeks honing their economic messages — and they couldn’t be more different. The FT’s US managing editor, Peter Spiegel, and Washington bureau chief, James Politi, join to explore how each candidates’ plan would impact the country. Mentioned in this podcast: Trumponomics: the radical plan that would reshape America’s economy Kamala Harris sets out pro-bus...
Sep 28, 2024•15 min•Transcript available on Metacast UK chancellor Rachel Reeves may backtrack on a key tax plan, Saudi Arabia is ready to abandon its unofficial price target of $100 a barrel for crude, and Citigroup announced a $25bn deal with Apollo to lend to private equity groups and low-rated US companies. Plus, Palestinian villagers in the West Bank are experiencing heightened violence after Hamas’s devastating October 7 assault on Israel. Mentioned in this podcast: UK chancellor ready to water down planned tax raid on wealthy foreigners Sau...
Sep 27, 2024•12 min•Transcript available on Metacast OpenAI’s chief technology officer is leaving the company, major banks pledge to increase their support for nuclear energy, and hopes of an M&A comeback rise as global companies pursue blockbuster takeovers. Plus, a surge in female labour force participation emerges as a bright spot for Saudi Arabia. Mentioned in this podcast: OpenAI’s chief technology officer Mira Murati to leave Big corporate predators bolster global M&A market The Saudi factories powered by women &n...
Sep 26, 2024•10 min•Transcript available on Metacast The US Department of Justice has filed an antitrust lawsuit against Visa, China has unleashed a swath of stimulus measures to jump-start growth and the incoming CEO at Trafigura signals a new era for the trading house. Plus, Sri Lanka has a new leftwing president who has promised a fresh start for the country. Mentioned in this podcast: US antitrust lawsuit accuses Visa of using dominance to shut down rivals China unleashes stimulus blitz to lift growth Trafigura set to name Richard Holtu...
Sep 25, 2024•11 min•Transcript available on Metacast The US proposed effectively banning Chinese cars, German Chancellor Olaf Scholz came out against a UniCredit takeover of Commerzbank and Israel carried out hundreds of airstrikes in Lebanon. Plus, UK Prime Minister Keir Starmer will try to turn around the Labour party’s mood during a speech at the party conference. Mentioned in this podcast: US proposes banning Chinese software and components in vehicles Israeli strikes kill more than 490 in Lebanon, says health ministry Olaf...
Sep 24, 2024•10 min•Transcript available on Metacast Olaf Scholz’s SPD narrowly fends off the AfD in Brandenburg’s state election, and chipmaker Qualcomm approaches Intel about a potential takeover. AI search engine Perplexity mounts an ambitious effort to break Google’s stranglehold over the $300bn digital ads industry. Plus, a strike at three dozen US ports could upend supply chains and raise prices just weeks before Election Day . Mentioned in this podcast: Germany’s SPD leads far right in Brandenburg election Perplexity in talks with to...
Sep 23, 2024•10 min•Transcript available on Metacast Republican presidential nominee Donald Trump and his running mate senator JD Vance have spent the past few weeks pushing a false claim that Haitian migrants in Springfield, Ohio are eating residents’ pets. The FT’s US national editor, Ed Luce, and New York correspondent, Joshua Chaffin, join this week’s Swamp Notes to discuss why misinformation is a powerful electoral strategy and whether the truth matters to voters. Mentioned in this podcast: ‘It’s ugly’: Donald Trump’s Haitian pet-eating...
Sep 21, 2024•15 min•Transcript available on Metacast The S&P 500 hit a record high, Europe’s biggest hope for dominance in EV batteries is struggling to hang on and the Bank of England held interest rates steady. Plus, the FT’s Brooke Masters explains why customers are getting fed up with airline loyalty programmes. Mentioned in this podcast: S&P 500 hits new record after Fed makes jumbo cut to US interest rates Europe’s great battery hope Northvolt fights for survival Bank of England holds rates at 5% The fury of the f...
Sep 20, 2024•12 min•Transcript available on Metacast The Federal Reserve’s interest rate easing began with a half-point cut, and the UK’s financial watchdog has stepped up pressure on banks to offer more attractive interest rates on deposits. The FT’s Mehul Srivastava unravels the supply chain behind the pagers that exploded in Lebanon this week. Mentioned in this podcast: Federal Reserve cuts rates by half a point and signals era of easing has begun UK regulator pushes banks to give savers better value even as rates fall From Taipei ...
Sep 19, 2024•10 min•Transcript available on Metacast BlackRock and Microsoft are launching a $30bn data centre fund to meet the growing demands of artificial intelligence, and BP puts its onshore US wind business up for sale. Meta is making teenagers’ Instagram accounts private by default and EU competition chief Margrethe Vestager speaks to the FT about her efforts to regulate in Big Tech. Mentioned in this podcast: BlackRock and Microsoft plan $30bn fund to invest in AI infrastructure BP puts $2bn US onshore wind business up for sal...
Sep 18, 2024•10 min•Transcript available on Metacast 
