FT News Briefing - Financial Times

Latest Episodes:

Can economic reform create a more level playing field for Black Americans? May 25, 2021

Show notes

Deutsche Bank is relocating 100 bankers from London to offices in the EU and Asia as Germany’s largest lender accelerates a corporate restructuring following Brexit, and France’s President, Emmanuel Macron, is caught between financial prudence and political reality as the French economy recovers with a presidential election looming on the horizon. And the US economy is recovering but unemployment among Black Americans is still much higher compared to other communities.

Deutsche accelerates overhaul of corporate bank after Brexit

https://www.ft.com/content/891b2482-e15e-4c2f-8e51-9a4271599dc0

Macron weighs economics versus politics in French reopening

https://www.ft.com/content/5fea422b-15a0-48a3-8a52-0113ece7db17

Economic reform crucial to improving the lives of black Americans

https://www.ft.com/content/377a163d-fdbf-4f11-bb4a-e26465f8c2aa

European groups pump money into Swedish ‘green steel’ start-up

https://www.ft.com/content/ee91775f-0310-4e1b-b162-ffdf6e066757?

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Epic vs Apple legal battle wraps up May 24, 2021

Show notes

Today is the final day of the courtroom battle between Apple and Fortnite developer Epic games, which has accused Apple of abusing its position by forcing developers to distribute apps exclusively through the App Store. ExxonMobil faces a pivotal moment this week as shareholders have their say on what critics call an inadequate response to seismic shifts brought on by climate change. The chief executive of AstraZeneca, Pascal Soriot, insists that his company’s Covid-19 has a future, and for the first time, the European bloc is allowed to arm governments in conflict zones, with money from a new €5bn fund known as the European Peace Facility.

Tim Cook grilled over App Store fees as Epic battle reaches climax

https://www.ft.com/content/86f8fa47-9a38-496a-9a34-e2fa58e9db2b

ExxonMobile climate battle reaches boardroom this week

https://www.ft.com/content/1ce31524-3c21-4978-b6b8-2e6a13f50288?

AstraZeneca chief says ‘vaccine has a future’ after setbacks

https://www.ft.com/content/02c543e0-45a6-4189-94cf-30a5c3d5499d

“We need arms:’ Europe’s risky move to project its influence in conflict zones

https://www.ft.com/content/dd29eb4d-1fc0-4123-ada1-290c4c63d966?

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Quantitative easing and rising stock prices May 21, 2021

Show notes

Israel and Hamas have agreed to a ceasefire that would end an 11-day conflict that has claimed the lives of at least 230 Palestinians and 12 Israelis. And WeWork’s losses almost quadrupled to $2.1bn in the first quarter of this year as the co-working company haemorrhaged more than a quarter of its members and shelled out hundreds of millions of dollars to restructure its property portfolio, and the FT’s Rob Armstrong talks about quantitative easing and stock prices.

Israel and Hamas agree a ceasefire after 11 days of fighting

https://www.ft.com/content/8aa0bee9-85e7-4cdf-82d5-e23475312f1c

WeWork loses $2.1bn and a quarter of its members as lockdowns bite

https://www.ft.com/content/60ea2f72-586f-4f3e-b153-3455b93539b8

Rob Armstrong Unhedged: QE and stock prices

https://www.ft.com/content/2db4a985-e053-4322-91b3-6c9793fd1c6c

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Fears of regulation lead to cryptocurrency chaos May 20, 2021

Show notes

US companies have urged South Korea’s president to free Samsung’s jailed chairman and argue the billionaire executive could boost American efforts to shake off the country’s dependence on computer chips produced overseas. Swedish oat milk producer Oatly raised $1.4bn in its initial public offeringon Wednesday,

Plus, the FT’s Trading Room editor, Philip Stafford, explains how a warning from Chinese regulators led to a chaotic day for cryptocurrency traders.

US companies lobby South Korea to free jailed Samsung boss

https://www.ft.com/content/26d77bfe-b55a-4edb-bc57-7370b6c6a670?

Entrepreneur behind Oatly’s rapid expansion faces US market test

https://www.ft.com/content/e37d6985-5c48-46f4-8b02-a67c1a6dfd01

Bitcoin gyrates on fears of regulatory crackdown

https://www.ft.com/content/c4c29bb3-c8ee-454c-a2dd-eac9f644007f

Japanese pensioners with US stimulus cheques descend on Tokyo banks

https://www.ft.com/content/102e0104-ca6f-4d59-be1b-90860426d5a5?

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JPMorgan’s executive shuffle puts two women in line to replace Jamie Dimon May 19, 2021

Show notes

JPMorgan Chase has shuffled several top executives, and has elevated two women who could be successors to chief executive Jaime Dimon, and the eurozone economy looks like it is recovering from the coronavirus pandemic. Plus, the FT’s Greater China correspondent, Kathrin Hille, explains why the world’s largest contract electronics maker, Foxconn, plans to be more integral to the auto industry.

JPMorgan elevates potential successors to Jamie Dimon

https://www.ft.com/content/9e31d7a7-4911-493b-919d-31e04d756438

Eurozone shows signs of bouncing back from double-dip recession

https://www.ft.com/content/c5de006b-6bdf-493d-a9bc-2f6a1871ba66?

Foxconn the carmaker? Disruption in the era of electric vehicles

https://www.ft.com/content/b229250d-5d9e-4bb1-bb91-e57888233a98

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Biden tells Netanyahu he supports a ceasefire in the Israel-Gaza conflict May 18, 2021

Show notes

US President Joe Biden yesterday expressed support for a Israel-Gaza ceasefire in a call with Israel’s Prime Minister Netanyahu, and today EU foreign ministers will meet to discuss the conflict, and a biotech company developing medicines that mimic the painkilling effects of cannabis is set to list in London this week. Plus, the FT’s South China correspondent, Primrose Riordan, explains why activists are calling BlackRock “inconsistent” in its ESG commitments.

Biden backs ceasefire in Israel-Palestinian conflict

https://www.ft.com/content/d388d8b4-94ce-49d1-b8ab-df171286fdad

Europeans hamstrung by rifts on Gaza conflict

https://www.ft.com/content/6c42bcb1-7013-4b74-8526-35ef7fae6f5d?

Start-up focused on painkilling effects of cannabis to list in London

https://www.ft.com/content/2952b9c9-f14a-4300-b1ac-d6c6bf5f8c8f?

BlackRock accused of ESG inconsistency over Indonesia palm oil

https://www.ft.com/content/479b9dd2-c738-4310-8b1e-afdfbd3921b0

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The growing market for emotional recognition technology May 17, 2021

Show notes

AT&T is nearing a deal to combine its content unit WarnerMedia with rival Discovery to create a media giant to compete in streaming, the insurance group Axa said one of its Asian business units was the victim of a “targeted ransomware attack”, and the EU plans to throw its weight behind a push to expand vaccine manufacturing in Africa. Plus, the FT’s European technology correspondent, Madhumita Murgia, explains why companies see potential in emotional recognition technology.

AT&T nears deal to create $150bn streaming giant with Discovery

https://www.ft.com/content/5aeba5f9-2e00-4cba-b9c7-e0431aad798b

Axa’s Asian operations hit in ransomware attack

https://www.ft.com/content/4443da60-6d90-4d27-b300-b0896425f99f?

EU to back expansion of vaccine production capacity in Africa

https://www.ft.com/content/d2a47c7e-0b00-4e31-92ab-cd3ff0b9070b

Emotion recognition: can AI detect human feelings from a face?

https://www.ft.com/content/c0b03d1d-f72f-48a8-b342-b4a926109452?

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Why Elon Musk is focusing on bitcoin’s fossil fuel issues May 14, 2021

Show notes

Airbnb’s first-quarter revenues showed a strong recovery in travel in the US as pandemic restrictions eased, and Netflix tries to adjust as it moves from streaming industry disruptor to defensive incumbent. Plus, Elon Musk rocked the cryptocurrency market when he announced Tesla will no longer accept bitcoin as payment. The FT’s markets editor, Katie Martin, explains why the electric carmarker’s CEO made the reversal.

Airbnb says customers paying higher prices as travel demand rises

https://www.ft.com/content/f7512415-46b2-4378-8356-2d1e2a8a760e?

Netflix outpaced by the old media companies it sought to dethrone

https://www.ft.com/content/48c06611-1c17-4941-96cc-b085dfe05cdf

Elon Musk wakes up to bitcoin’s fossil fuel issues

https://www.ft.com/content/b917ec4f-8b57-45dc-82ba-960d82ad7974

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Consumer price data stokes inflation fears, US labour shortage May 13, 2021

Show notes

US stocks suffered their worst losses in months and government bonds also fell after government data showed the US inflation rate jumped to a 13-year high, and the Colonial pipeline has resumed operations following last week’s ransomware attack. Plus, the FT’s Taylor Nicole Rogers discusses a labour shortage in the US that is making it hard for employers to find enough workers as the economy opens up.

Wall Street ends lower as inflation debate intensifies

https://www.ft.com/content/fd3abbb8-955a-46b3-bc45-9a4fb7b95265

Colonial pipeline resumes operations following ransomware attack

https://www.ft.com/content/b6ac99ea-d7c6-49dd-b7d7-1284ce2e85c0?

US employers struggle to find willing workers after pandemic year

ft.com/content/52ecab21-c90d-4ee7-be7f-612da5355c77

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US companies announce record share buybacks, Covid hits India’s middle class May 12, 2021

Show notes

Companies are dusting off share buyback plans after a blockbuster earnings season, and shareholders are rebelling against executive pay proposals. Plus, the FT’s New Delhi reporter, Jyotsna Singh, explains how India’s second surge is devastating the country’s middle class.

Companies prepare share buyback bonanza as outlook clears

https://www.ft.com/content/d7adb226-e9a6-4cd8-9049-35d55c211ca4

US investors revolt against executive pay in record numbers

https://www.ft.com/content/50e73d21-3de5-4196-b124-7281ec7af828

Covid batters India’s aspiring middle classes

https://www.ft.com/content/28e9c827-1131-4412-bafa-5e88eb211fc4?

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