FT News Briefing - Financial Times

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US businesses in Hong Kong between a rock and a hard place Jul 20, 2021

Show notes

Fears over the coronavirus on Monday contributed to European stocks’ worst session of 2021

Description: The threat of the Delta coronavirus variant hit global equity markets on Monday, and the online brokerage Robinhood is seeking a valuation of up to $35bn in its upcoming initial public offering. Plus, the FT’s South China correspondent Primrose Riordan reports that American companies are upset by the Biden Administration’s business advisory warning about the risks of operating in Hong Kong.

Global markets shaken by fears over Delta variant with Mamta Badkar, US breaking news editor

https://www.ft.com/content/5b2248be-8f0e-4235-ba2e-2187c96f16a6

Robinhood seeks valuation of up to $35bn in IPO with Madison Darbyshire, US investment reporter

https://www.ft.com/content/ae0c41a2-0f68-4331-984a-3fd9cf8b6fc2

Companies in Hong Kong fear being crushed between China and US with Primrose Riordan, south China correspondent

https://www.ft.com/content/0d56006e-2820-40b6-9643-4180146ea45f?

The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Our intern is Zoe Han. Additional help by Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.

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The search for a Covid supershot Jul 19, 2021

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Opec and its allies have reached a deal to raise oil production in response to soaring prices, and China just launched the world’s largest carbon trading market. Plus, the FT’s global health editor, Sarah Neville, reports on scientists’ pursuit of a “supershot” vaccine to protect against all coronaviruses.

Opec+ reaches deal to raise oil production

https://www.ft.com/content/b517d13d-dc7b-4610-b468-7ded0b46d8f7

China’s carbon market scheme too limited, say analysts, with Beijing correspondent, Christian Shepherd

https://www.ft.com/content/3bcc2380-8544-4146-ba71-83944caff48d

The hunt for a coronavirus super shot, with global health editor, Sarah Neville

https://www.ft.com/content/7e96fa85-2392-467c-8960-0c9444180030

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Pilita Clark’s picks for summer reading about the environment Jul 16, 2021

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US retail banks cut their branch networks and trimmed headcount in the first half of the year, and Brussels' historic attempt to tackle climate change faces a wall of opposition from governments in the bloc. Plus, the FT’s business columnist, PIlita Clark, talks about her favourite summer reads about the environment.

US banks close more than 250 branches in bet on digital future with Imani Moise, US banking correspondent

https://www.ft.com/content/26764d8b-9c5f-420a-901c-eaed97dda412

EU climate change plans on collision course over rising cost of emissions

https://www.ft.com/content/883a676c-7370-4e42-9b3a-dcf7e898e7bd?

Summer books of 2021: Environment, with Pilita Clark, business columnist

https://www.ft.com/content/27aa0926-6894-4102-89dc-e006e226cd0d

Manchester City’s parent company raises $650m in one of football’s biggest ever debt deals

https://www.ft.com/content/c8cdc3f6-b7b9-45a9-8a87-f6e7bb5af92a

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Artist Damien Hirst issues his own ‘Currency’ Jul 15, 2021

Show notes

The chair of the Federal Reserve, Jay Powell, sought to ease concerns in Congress about the Federal Reserve’s response to surging

inflation, the assassination of Haiti’s president Jovenel Moïse last week has plunged the poorest nation in the Americas deeper into chaos, and British artist Damien Hirst yesterday launched his NFT-based project, entitled “The Currency”, that calls into question notions of worth and value and presents his buyers with a choice.

Jay Powell says Fed ready to intervene if US inflation spirals out of control

https://www.ft.com/content/37d57052-c2a5-4a44-8b27-9d205a2a1c50

Haiti’s ‘descent into hell’ looms closer after death of president with Michael Stott, Latin America Editor

https://www.ft.com/content/81b683b8-b352-4ea6-9ce1-e0ed280245e1

Damien Hirst launches his own NFT ‘Currency’ by Jan Dalley, Arts Editor

https://www.ft.com/content/9a29c9e1-5990-4fc9-b021-20e4aef5f6fd

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The index of everything Jul 14, 2021

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Visa and Mastercard have left open key gateways between Binance and the financial system despite rising regulatory scrutiny of the cryptocurrency, the pace of US consumer price increases accelerated unexpectedly in June. Plus, the FT’s global finance correspondent, Robin Wigglesworth, explains why investors might be interested in an “everything index” and how close we are to getting one.

Visa and Mastercard stick with Binance as regulatory scrutiny rises

https://www.ft.com/content/8f2e2528-e289-4233-ba29-1bebf3b1dbdc

Sticker shock: what is driving US inflation higher? With Colby Smith, US economics editor

https://www.ft.com/content/aadaa577-b286-443f-b173-256dfc4af6a5

The quest for the investment Holy Grail — an index of everything with Robin Wigglesworth, global finance correspondent

https://www.ft.com/content/9a9056e1-b35e-4ea7-b9f7-7668c07469ed

Vanguard makes first acquisition with Just Invest deal

https://www.ft.com/content/fdcdeb98-d3d8-4f95-aa5a-32fb54daea53

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The European Central Bank focuses on climate change Jul 13, 2021

Show notes

David Cameron was paid a salary of more than $1m by Greensill Capital, the finance company whose dramatic collapse exposed the former UK prime minister’s extensive lobbying efforts, and US banks will face tough questions about the prospects for their lending operations this week when they report second-quarter earnings, flattered by smaller-than-expected credit losses during the pandemic. Plus, Martin Arnold, the FT’s Frankfurt bureau chief, interviewed Christine Lagarde, European Central Bank president, about the bank’s plans to prioritise climate change in its policy decisions.

Greensill Capital paid Cameron salary of more than $1m a year

https://www.ft.com/content/536867f4-2dd3-42a1-9b29-54ed92693635?

US banks enter earnings season with eyes on loan growth, with Imani Moise, US Banking Correspondent

https://www.ft.com/content/8738c327-ceab-4d00-8c24-fbc44c81a0c4

ECB faces row over how to implement new strategy, Lagarde warns, with Martin Arnold, Frankfurt Bureau Chief

https://www.ft.com/content/11e953df-536b-43aa-9c21-65b8dd79c797

Jump in coffee bean prices set to filter through to your morning brew

https://www.ft.com/content/d4146bb5-896b-4f1f-b5f8-930cb2bfb729

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EU’s Andreas Schwab responds to White House criticism of EU tech regulation Jul 12, 2021

Show notes

The rapid spread of the Delta coronavirus variant is causing concern about Europe’s economic recovery, and the number of start-ups valued above $1bn grew rapidly in the second quarter. Plus, the FT’s EU correspondent, Javier Espinoza, interviews the influential European Union lawmaker who is steering the EU’s flagship tech regulation through Parliament and wants to target the top US tech companies.

Delta variant surge casts doubt over Europe’s economic rebound

https://www.ft.com/content/1f9c18cf-706c-4d9c-9764-d3c088bdc1a2

EU should focus on top 5 tech companies, says leading MEP, by Javier Espinoza

https://www.ft.com/content/49f3d7f2-30d5-4336-87ad-eea0ee0ecc7b

Billion dollar ‘unicorns’ hit record numbers as valuations surge, by Miles Kruppa

https://www.ft.com/content/ccfc6bbd-56b6-4cef-b89d-4f88ceb7b126

Richard Branson touches the edge of space

https://www.ft.com/content/bf3130f4-5f62-4f9d-941a-d1db98dc0233?

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Martin Wolf's summer reading list Jul 09, 2021

Show notes

The UK’s advertising watchdog says it will clamp down on misleading marketing for crypto investments, and stock markets dropped on Thursday on rising concerns about prospects for the global economy. Plus, the FT’s chief economics commentator, Martin Wolf, picks his top economics summer reads.

UK advertising watchdog to crack down on misleading crypto marketing

https://www.ft.com/content/19ad9810-402d-4529-89b5-732521829548?

Markets enjoy blessed relief now the heavy storms have passed with Katie Martin, Markets Editor

https://www.ft.com/content/80717968-7714-4ed8-b73b-029f9b1e9590

Treasuries rally and stocks drop on rising economic concerns

https://www.ft.com/content/e549f4b1-f2f8-4213-8f04-679f89286c31

Summer books of 2021: Economics with Martin Wolf, Chief Economics Commentator

https://www.ft.com/content/239f31cb-57a3-43d3-ab3d-d18d068f4994

Japan bans spectators at Olympics events in and around Tokyo

https://www.ft.com/content/af205e68-51e3-4165-b211-d22f9c3c86c8

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A wave of private equity buyouts in the UK prompts concern Jul 08, 2021

Show notes

Former president Donald Trump is suing Facebook, Twitter and Google’s YouTube, as well as their respective chief executives, in lawsuits alleging “unlawful censorship” of Americans, the new Delta variant of coronavirus is driving up infection rates in countries across the globe, and South Africa’s president has been arrested. Plus, the FT’s private capital correspondent, Kaye Wiggins, explains why private equity firms have been targeting UK companies and how the British public is reacting.

Trump sues Facebook, YouTube and Twitter over ‘censorship’

https://www.ft.com/content/86c98f3b-7d25-42b9-abf6-68b4b0839c66

Delta variant drives Spain’s Covid-19 rate to highest in mainland Europe

https://www.ft.com/content/06334a7b-30cc-40bf-942b-e3bcd2efb305

LGIM warns against private equity buying Morrisons for ‘wrong reasons’

https://www.ft.com/content/9d1a6019-6571-478c-8b1f-f267bb582f0d

The Rachman Review podcast: South Africa’s pivotal moment

https://www.ft.com/rachman-review

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What did Didi’s bankers know before the IPO? Jul 07, 2021

Show notes

Didi lost a fifth of its market value after Chinese regulators announced an investigation into the ride-hailing app that last week raised more than $4bn in a New York IPO, the Opec impasse highlights growing tensions between Saudi Arabia and the United Arab Emirates, the Pentagon cancels a highly sensitive $10bn cloud contract awarded to Microsoft, and a new report that says Viktor Orban’s government is failing to ensure the transparent use of EU funds and their independent oversight, which will embolden calls to withhold payments to Hungary.

Didi caught as China and US battle over data

https://www.ft.com/content/00403ae5-7565-413e-907d-ad46549375ba

Pentagon cancels $10bn cloud contract awarded to Microsoft

https://www.ft.com/content/7ac0e691-665f-4328-8b29-ee4883068e80

Opec impasse sees UAE ‘flexing its muscles’ against Saudi Arabia

https://www.ft.com/content/baca384d-c477-4a8b-bdcd-b174317af387

Orban government not ‘reliable steward’ of EU funds, report says

https://www.ft.com/content/4d79583c-f5a1-40be-93dc-cae27e6c713f?

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