FT News Briefing

US stocks slid and the price of Brent crude touched its lowest level since January, and China’s elderly are causing challenges for president Xi Jinping.  Plus, the FT’s Alexandra Heal explains that more women in the UK are turning to sex work due to the struggling economy.  Mentioned in this podcast: Brent crude oil falls below $80 for first time since January China’s elderly vaccine ref...

US stocks fell after new data showed the US services sector grew last month, PwC plans to take advantage of uncertainty at EY by poaching some of its rival’s most senior executives, and China is catching up to Europe in EV battery production. Plus, the FT’s Working It podcast host, Isabel Berwick, talks about a multi-part series on the four-day work week.  Mentioned in this podcast: US stocks...

EU and US officials meet today to discuss the effect Washington’s green subsidies plan is having on Europe and Opec is standing pat as the cartel awaits a price cap on Russian oil to go into effect. Plus, the FT’s Katie Martin explains how fund managers are struggling in the new era of higher interest rates.  Mentioned in this podcast: Von der Leyen promises EU help for companies lured by US...

Brussels is pushing EU member states to agree to a $60 ceiling on global purchases of Russian oil and emerging market stocks and bonds are staging a strong rebound. Plus, a push by the UN to tighten corporate rules around net-zero pledges is sending shudders through some boardrooms, and the world’s largest active volcano, Hawaii’s Mauna Loa, erupted this week after lying dormant for nearly 40...

Federal Reserve chair Jay Powell signalled the central bank will start to slow the pace of interest rate increases, French president Emanuel Emmanuel Macron is meeting with US president Joe Biden today, and Eurozone inflation finally slowed down. Plus, we get the latest on the fallout from the FTX crypto collapse.  Mentioned in this podcast: Jay Powell signals Fed will slow pace of rate rises...

China is enlisting the help of tech giants to reduce its dependence on foreign semiconductor technology, the Federal Reserve is divided over how much to raise interest rates, and private equity firms are selling an investment product similar to the collateralised debt obligations that fuelled the 2008 financial crisis.  Mentioned in this podcast: Fed officials in danger of splitting on future...

Europe is importing a record amount of seaborne Russian gas, and Rolls-Royce has successfully tested hydrogen instead of conventional jet fuel to power a modern aircraft engine. Plus, the FT’s Europe-China correspondent, Yuan Yang, explains why the protests in China are supported by a rare nationwide coalition of interests.  Mentioned in this podcast: Europe’s imports of Russian seaborne gas...

Zero-Covid protests in Shanghai escalated on Sunday evening as police struggled to disperse large crowds who gathered in the city, and Iranian protests continue but businesses are reluctant to join. Plus, the FT’s Brussels bureau chief, Sam Fleming, discusses the EU’s latest refugee crisis.  Mentioned in this podcast: China rocked by protests as zero-Covid anger spreads China’s zero-Covid pro...

The FT’s chief economics commentator, Martin Wolf, discusses why geopolitics could be the biggest threat to globalisation.  Mentioned in this podcast: Geopolitics is the biggest threat to globalisation The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallm...

Mortgage rates in the UK on five-year fixed deals have dipped below 6 per cent for the first time in nearly two months, and US retailers are facing their first real-terms fall in revenues since the global financial crisis this holiday season. Plus, the FT’s gulf correspondent, Simeon Kerr, explains why there’s so much pressure on Qatar as the country hosts the World Cup.  Mentioned in this po...

Austria’s central bank chief is calling for a third-straight 0.75 percentage point interest rate rise at the European Central Bank’s next meeting, Disney executives ousted Bob Chapek as CEO and re-installed Bob Iger, and oil prices had a hectic day yesterday but remain well below their summer peak. Plus, the UK’s appetite for bacon is back.  Mentioned in this podcast: ECB’s Holzmann backs 0.7...

A report finds that large asset managers are invested in companies allegedly linked to the repression of Uyghur Muslims, and Lebanese households and businesses are installing renewables to bypass the country’s power crisis. Plus, the FT’s Kate Duguid explains why we’re starting to see cracks in the US Treasury bond market and whether there is cause for concern.  Mentioned in this podcast: MSC...

The world’s largest cryptocurrency fund has become embroiled in the turmoil swirling around the troubled sector, Jeremy Hunt announces a £55bn fiscal squeeze as UK economic outlook darkens, and negotiators at the COP27 UN climate conference in Egypt burned the midnight oil to eke out an agreement before the conference closes today. Mentioned in this podcast: World’s largest crypto fund swept into...

UK chancellor Jeremy Hunt is set to unveil a massive package of tax rises and spending cuts, crypto broker Genesis Trading suspended withdrawals, and Iraq is reeling from a massive corruption scandal.  Mentioned in this podcast: Crypto broker Genesis Trading halts withdrawals at lending unit Hunt prepares bid to repair Britain’s tarnished economic reputation Iraq reels from $2.5bn tax ‘heist...

A landmark tech regulation law goes into effect in Europe, Russia targeted Ukraine’s power infrastructure in an air raid, and the Japanese Yen is rebounding from 32-year lows.  Mentioned in this podcast: Yen rebounds from 32-year lows on hopes for slower Fed rate rises Elon Musk’s Twitter on ‘collision course’ with EU regulators Military briefing: what’s next after Kherson The FT News Briefin...

Amazon is planning to cut about 10,000 jobs, Google got hit with its biggest US privacy penalty, and Beijing has a plan for China’s troubled property sector. Mentioned in this podcast: Amazon prepares for mass job cuts in latest sign of Big Tech belt-tightening Google hit with its biggest US privacy penalty in $391.mn settlement Chinese property stocks soar on hopes of turning point for sector The...

Digital asset exchanges are rushing to reassure clients that their funds are safe as the FTX collapse ricochets through the industry, a top Federal Reserve official says the US central bank is entering a new phase of policy tightening that will be harder to navigate, and Apple’s reliance on China leaves the business vulnerable to supply chain shocks. Mentioned in this podcast: Crypto exchanges rac...

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US stocks roared ahead on Thursday in their strongest day in more than two and a half years, and FTX's founder apologizes for the cryptoexchange's collapse. Plus, how a breakaway firm from PwC is testing western sanctions against Russia.  Mentioned in this podcast: US stocks surge on lower than expected inflation data Sam Bankman-Fried apologises for FTX crisis Accountants in Cyprus break fro...

Binance backs out of its deal with FTX, Joe Biden and the Democrats avoided sweeping defeats but still risked losing control of Congress to the Republicans, and the FT’s Rob Armstrong explains why a potentially divided Congress could hurt investors.  Mentioned in this podcast: Republican blame game begins: ‘We want a genuine conservative’ Unhedged: Divided government, diminished profits Binan...

Americans voted in crucial midterm elections yesterday, cryptocurrency exchange Binance agreed to buy rival FTX, and TikTok has slashed its worldwide revenue targets for 2022 by at least $2bn. Mentioned in this podcast: Midterm elections 2022: what Republicans may do with a House majority Binance rescues crypto rival FTX TikTok slashes revenue targets by at least $2bn TikTok overhauls US business...

UK prime minister Rishi Sunak says Britain and France are in the ‘final stage’ of reaching a deal over migrant crossings, and cyber experts are worried about misinformation on Twitter during the US midterms elections. Plus, the FT’s David Pilling explains why, despite $8.5bn, South Africa is having a hard time moving away from coal.    Mentioned in this podcast: UK and France in ‘fi...

The European Central Bank has clashed with UniCredit over the Italian lender’s plans to return cash to shareholders and its failure to leave Russia, the world’s leading semiconductor producer, TSMC, is battling to stay ahead as w  orld demands ever-smaller chips, the US Supreme Court’s decision to toss out constitutional abortion protections takes employer involvement in women’s health up another...

Direct air carbon capture - taking carbon dioxide straight out of the air around us - sounds like science fiction. In this episode of Tech Tonic Pilita Clark visits Iceland to meet the engineers and scientists at the forefront of this new tech. Can carbon capture scale up quick enough to have an impact on climate change, or is it just an excuse to allow fossil fuel companies and emitters to keep p...

In this special episode of the FT News Briefing, listen to our four-part series on the US midterm elections. We go around the country to learn about some of the key issues on voters' minds, from inflation to election denialism. Think of it as your crash course for the election on November 8.  Mentioned in this podcast: How abortion rights are upending the US midterm elections ‘The headwinds a...