FT News Briefing

The US is set to hit the debt ceiling today and Microsoft plans to cut 10,000 jobs to bring down costs. Plus, the FT’s Katie Martin reports from Davos on the tense relations between the US and Europe over America’s new expensive green subsidies law. Mentioned in this podcast: EU makes green pitch to rival US subsidy splurge Microsoft to cut 10,000 jobs in push to bring down costs The US hits the d...

Goldman Sachs’ profits plunged by two-thirds last quarter while Morgan Stanley reported a 40 per cent year-on-year drop in net income, and companies are facing a record number of shareholder proposals about abortion policies. Plus, Beijing is changing tack in its efforts to secure a firmer grip on the country’s technology companies.  Mentioned in this podcast: Morgan Stanley retains edge over...

US Treasury secretary Janet Yellen will meet her Chinese counterpart Liu He in Zurich this week, a former Russian paramilitary soldier has promised to give evidence against the notorious Wagner group after making a dramatic escape to Norway, and scientists have unveiled a laser beam to deflect lightning strikes. Plus, as EU regulators slowly roll out their own Big Tech regulation enforcement, Berl...

Demand for ‘buy now, pay later’ deals has surged among all age groups in the UK, US regulators are cracking down on a type of investment vehicle used by private equity groups, and we’ll chat with the FT’s chief foreign affairs commentator Gideon Rachman as he heads to Davos. Mentioned in this podcast: US regulators crackdown on ‘collateralised fund obligations’ Geopolitics threatens to destroy the...

Annual US inflation fell in December to its lowest level in more than a year, and Sweden’s state-owned mining company LKAB has said it has discovered Europe’s largest deposit of rare earth metals. Plus, the FT’s Jonathan Wheatley and Farhan Bokhari discuss Pakistan’s financial crisis.  Mentioned in this podcast: US inflation falls to lowest level in more than a year Pakistan secures more than...

Brussels is stockpiling drugs and obliging manufacturers to guarantee supplies, and Russian forces are stepping up attacks on the Ukrainian town of Soledar. Plus, the FT’s Peggy Hollinger explains why Virgin Orbit's failed satellite launch is such a big deal for Europe.  Mentioned in this podcast: Virgin Orbit scrambles to establish why first UK satellite launch failed Russian forces may have...

UK staffers fired by Twitter claim their dismissals were conducted unlawfully, BioNTech has agreed to buy UK artificial intelligence start-up InstaDeep, and Toyota is confronting an “unprecedented” challenge to revive its electric vehicle sales. Plus, the FT’s Tom Wilson chats about the challenges facing Shell’s new chief executive, Wael Sawan. Mentioned in this podcast: Twitter hit with legal cha...

The White House is facing calls from the US Congress to expel former Brazilian president Jair Bolsonaro after Sunday’s insurrection, France is set to present a draft law that will raise the country’s retirement age. Plus, the FT’s Sun Yu explains why China is restricting certain domestic companies from going public.  Mentioned in this podcast: White House under pressure to expel Jair Bolsonar...

Thousands of supporters of Brazil’s former rightwing president Jair Bolsonaro stormed the country’s capital, and America’s biggest banks are set to report another quarter of bumper profits. Plus, the FT’s Middle East editor Andrew England explains how Gulf nations’ sovereign wealth funds plan to invest the cash they’ve reaped from the recent boom in oil prices.  Mentioned in this podcast: Sup...

The pace of US jobs growth is set to have slowed further in December, and clients pulled $8.1bn in deposits from crypto-focused US bank Silvergate late last year. Plus, the FT’s Pilita Clark comments on the slow death of the company phone number.  Mentioned in this podcast: Pace of US jobs growth set to have slowed again in December Silvergate shares tumble as crypto bank reveals $8.1bn fall...

IMF deputy managing director says the Federal Reserve shouldn’t declare victory against inflation just yet, inflation in Europe is falling, and the World Health Organization has accused China of undercounting Covid deaths.  Mentioned in this podcast: Fed wants ‘more evidence’ of easing inflation and backs fresh rate rises US inflation has not ‘turned the corner yet’, top IMF official warns Fa...

Downing Street says Britons could struggle to access healthcare this winter, Tesla and Apple shares both fell because of production issues in China, and retail investors are pouring into risky commodities markets.  Mentioned in this podcast: Downing Street admits Britons will struggle to access the NHS Tesla shares slide after deliveries fall short of Wall St expectations Apple’s market value...

Economists say the UK will face one of the worst recessions and weakest recoveries in the G7 in the coming year, and The Netherlands may be the first country to hit the limits of growth. Plus, the FT’s Colby Smith explains how the Federal Reserve and other central banks settled on a 2 per cent inflation rate target.  Mentioned in this podcast: UK faces worst and longest recession in G7, say e...

FTX founder Sam Bankman-Fried’s bail is set at $250mn, Wall Street stocks slide after a round of upbeat economic data was released, and the FT’s Andrew Edgecliffe-Johnson reflects on the year in corporate news.  Mentioned in this podcast: FTX founder Sam Bankman-Fried to be released on $250mn bond  Big investors warm to bonds after historic 2022 sell-off boosts yields US stocks sink afte...

Big Tech groups are ditching offices that are part of their European headquarters to cut costs and Tesla has fallen below ExxonMobil in stock market value for the first time since 2020. Plus, the FT’s Claer Barrett explains how British families are coping with the sky-high cost of childcare.  Mentioned in this podcast: US tech giants ditch European offices Money Clinic Podcast: Childcare in c...

The Bank of Japan stunned markets with an unexpected change to its controversial yield curve control policy, and a group of FTX customers will try to secure quicker repayment for people who have money trapped with the defunct exchange. Plus, we take a look back at the biggest energy story of 2022.   Mentioned in this podcast: Bank of Japan stuns markets with yield control policy change FTX cl...

US regulators settled a record breaking case against the maker of video game Fortnite, a former Wirecard executive told a Munich court that the collapsed German payments company was a “sloppily done fraud”, and a boom in mainland Chinese family offices setting up in Singapore is drawing in thousands of financial professionals. Mentioned in this podcast: Epic Games pays FTC $520mn to resolve ‘Fortn...

EU member states have reached a deal on the world’s first major carbon border tax, New Delhi has stepped up spending on infrastructure in neighbouring countries, the world’s largest investment banks for the first time will earn more dealmaking fees in India this year than in China, a new generation of artificial tasks is able to do more jobs that previously only humans could do. Mentioned in this...

Global stocks tumbled after a broad group of central banks raised interest rates, and nurses in England, Wales and Northern Ireland went on strike. Plus, Argentina’s World Cup success is temporarily distracting Argentinians from economic and political turmoil.  Mentioned in this podcast: US and European stocks tumble as global outlook sours Ministers reject nurses’ pay demand amid histor...

The Federal Reserve slowed the pace of its interest rate increases, western sanctions are causing a steady degradation, rather than a dramatic collapse, of Russia’s economy, and billionaire Ray Dalio is teaming up with Titanic director James Cameron to invest in a luxury submarine maker.  Mentioned in this podcast: Fed implements half-point rate rise as central banks enter new phase Russia’s...

US inflation slowed for the second month in a row, the US has formally charged former FTX chief executive, Sam Bankman-Fried, with criminal conspiracy and fraud, and US scientists have made a breakthrough in a powerful clean energy technology. Mentioned in this podcast: US accuses Sam Bankman-Fried of conspiracy and fraud after FTX collapse US shares and bonds surge as inflation hits lowest level...

Sam Bankman-Fried, the former chief executive of bankrupt crypto exchange FTX has been arrested in the Bahamas, Goldman Sachs is considering cutting hundreds of jobs, Belgian police raided a European parliamentary office in a widening corruption scandal involving World Cup host Qatar, and Germany’s reliance on Russian gas has exposed a weakness that could derail the country’s economic success.&nbs...

Environmental group Greenpeace has started legal proceedings against the UK government to try and block new North Sea oil and gas exploration licences, European oil companies are attracting US investors who view them as cheap compared to American energy stocks, and Pegasus spyware maker NSO Group is betting that victory by Benjamin Netanyahu will restore its fortunes. Mentioned in this podcas...

The US Federal Trade Commission says it will sue to block Microsoft’s $75bn acquisition of video game maker Activision Blizzard, and KLM’s chief executive has encouraged passengers to take the train rather than fly on some short-haul journeys. Plus, the FT’s John Paul Rathbone unpacks a military milestone in the Ukraine war.  Mentioned in this podcast: FTC sues to block Microsoft’s $75bn acqu...

The US bond market is signalling that investors expect the Federal Reserve to stay the course in its battle to tame inflation, Peru’s congress impeached the country’s president just after he announced he was dissolving the legislature, and German police made arrests related to an alleged rightwing plot to overthrow the government. Plus, US supply chain disruptions have eased, which is helping to b...