FT News Briefing - Financial Times

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Colonial pipeline hackers didn’t mean to create problems, UK services’ Brexit struggles May 11, 2021

Show notes

The hacker group blamed for the ransomware attack on the Colonial pipeline insisted it only wanted to make money and did not want to cause problems for society, tech stocks tumbled on Monday as investors braced for further signs of inflation, and Vice Media is joining the streaming gold rush. Plus, the FT’s management editor, Andrew Hill, explains why businesses in the UK’s services sector trying to operate in Europe are encountering post-Brexit challenges.

This episode features the song “Black Fur” by Elder Island. The song is licensed to Metropolis Recordings.

We regret ‘creating problems’, say hackers behind the cyber attack on a key fuel pipeline

https://www.ft.com/content/0afb53f0-f382-442a-9a32-02824ce8bb70

US tech stocks drop ahead of inflation data

https://www.ft.com/content/9707595b-d708-4be3-917d-9ae1de04c707?

Vice Media joins streaming gold rush in new bid for profitability

https://www.ft.com/content/942bf107-3824-4611-b0f7-b4816d4ee2a5

UK’s services sector starts to count the real cost of Brexit

https://www.ft.com/content/d0c10195-0e2e-4913-af74-3b7057163e3f?

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US issues emergency powers to keep fuel flowing, CEO diversity promises May 10, 2021

Show notes

The US government enacted emergency powers on Sunday in a bid to keep fuel supplies flowing after a cyberattack shut down a key pipeline, and European and US banks are split on whether to bring staff back to the office. Plus, the FT’s race and equalities correspondent, Taylor Nicole Rogers, looks at how much US corporations have lived up to diversity promises they made after the police murder of George Floyd.

US and Europe split on bringing bankers back to the office

https://www.ft.com/547a4dc2-e11b-4e8f-b526-cbf135ba7b4d?

Are CEOs living up to the pledges they made after George Floyd’s murder?

https://www.ft.com/content/67e79b20-bc41-4cb0-992f-a28e3eaa5695

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Merkel opposes US move to waive vaccine IP, the drive behind the commodity supercycle May 07, 2021

Show notes

Angela Merkel has expressed opposition to the Biden administration’s proposal to suspend intellectual property rights for Covid-19 vaccines, and Norway’s Telenor has written off its entire $782m investment in Myanmar but will remain in the country. Plus, the FT’s markets editor, Katie Martin, explains what is behind the commodities super cycle and what it could mean for inflation.

Angela Merkel rejects US move to waive patents on vaccines

https://www.ft.com/content/76a05a85-b83c-4e36-b04d-7f44f63e57b0

Telenor writes off $782m Myanmar business following coup

https://www.ft.com/content/ba1f8db9-e2d1-4e45-80be-1f6f6fe1344b

Broad commodities price boom amplifies ‘supercycle’ talk

https://www.ft.com/content/1332da37-bf45-409f-9500-2fdac344d1dd

Why we should all give up meat

https://www.ft.com/content/1293516c-c17a-4a29-b969-55b6e6849b16

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US to support temporary suspension of Covid-19 vaccine patents, India’s coronavirus crisis is affecting global shipping May 06, 2021

Show notes

Stocks of major vaccine makers were rattled on Wednesday after the US decided to support a plan to temporarily suspend the intellectual property rights for Covid-19 jabs, and India’s coronavirus crisis is hitting the international shipping industry. Plus, the FT’s leisure industries correspondent, Alice Hancock, talks about the European tourism industry’s hopes of emerging from the pandemic with a different kind of tourism.

US backs plan to suspend Covid vaccine patents during pandemic

https://www.ft.com/content/eca86f43-7127-4213-948d-3cc8d652805e

India’s Covid surge rocks global shipping industry

https://www.ft.com/content/cf40d764-6ab6-4638-bea6-594cc3cd5d53?

Archegos prepares for insolvency as banks seek compensation for $10bn losses

https://www.ft.com/content/8062ef53-790f-4470-99d5-265335a72334

Pandemic offers Europe’s tourism industry the chance of an upgrade

https://www.ft.com/content/5f3328f4-b12e-4e5b-8dd2-bacfb73d40a6?

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Yellen says US interest rates may have to rise, European central banks lag in gender equality May 05, 2021

Show notes

Treasury secretary Janet Yellen said on Tuesday that US interest rates may need to rise so that the economy does not overheat, and US states and companies are offering all kinds of incentives to entice people to get vaccinated against coronavirus. Plus, there are very few women in top roles in European central banking and economics. Two of them spoke to the FT about their experiences and “hidden barriers” to gender equality in their field.

Yellen says rates may have to rise to prevent ‘overheating’

https://www.ft.com/content/049f4a79-abff-4a6c-a7c1-13409e8f63ae

Women central bankers want action on ‘hidden barriers’ to equality

https://www.ft.com/content/0d1d2d4d-8bb8-42ce-b263-9863a1f377ed

Beers and cash among incentives used to entice the ‘vaccine hesitant”

https://www.ft.com/content/138f58a1-b472-452a-9daa-db0f5c885079

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US banks move to reduce deposits, the Spac bubble deflates May 04, 2021

Show notes

A wave of cash flooding bank balance sheets has prompted some US lenders to advise corporate clients to move money out of deposits, and Apollo has bought Verizon’s media assets including Yahoo for $5bn. Plus, the FT’s mergers & acquisitions reporter, Ortenca Aliaj, explains why the Spac boom has deflated.

Apollo buys Verizon media assets including Yahoo for $5bn

https://www.ft.com/content/ef0992ec-1d4f-4030-95a9-d950e47338e1

Cash-rich US banks move to reduce corporate deposits

https://www.ft.com/content/a5e165f7-a524-4b5b-9939-de689b6a1687

A reckoning for Spacs: will regulators deflate the boom?

https://www.ft.com/content/99de2333-e53a-4084-8780-2ba9766c70b7?

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Epic Games vs Apple, Serbs worry about pollution from Chinese investment May 03, 2021

Show notes

The trial between Epic Games and Apple is set to kick off today, and the controversial Dakota Access Pipeline is back in federal court. Plus, the FT’s southeast Europe correspondent, Valerie Hopkins, explains the love-hate relationships that Serbians have with Chinese investment in their country.

‘Fortnite’ maker goes to war over ‘Apple tax’

https://www.ft.com/content/293780f7-d2f8-4f3f-aa52-752c74e2d34d

Why some tribes want to keep a controversial US pipeline open

https://www.ft.com/content/7950dc72-2cf9-4960-9d28-7109ab7d4b85

Serbs fret over environmental costs of Chinese investment

https://www.ft.com/content/b6b7bce4-f970-4eb6-ab26-0fadc552d148

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Amazon caps big week of tech earnings, Bafin’s Binance probe Apr 30, 2021

Show notes

Amazon reported its second straight quarter of $100bn-plus sales, comfortably beating Wall Street’s targets, and the FT’s Elaine Moore looks at Apple’s results, which were boosted by iPhone sales. Also, the US government this summer will start sending monthly child allowances in an experimental effort to reduce child poverty. Plus, the FT’s markets editor explains how the big cryptocurrency exchange, Binance, landed itself in trouble with German regulators.

Amazon reaps rewards of pandemic shift online

https://www.ft.com/content/a2b05040-3164-46f3-8bd5-399e6214ea74

Apple: supercharged iPhone sales signpost $3tn valuation

https://www.ft.com/content/eee8bca7-e7fb-4506-a0e2-579fa707de81

US embarks on first national child allowance experiment

https://www.ft.com/content/cc2a0d8c-123e-4d36-b01a-55cd8a23a166

Regulators to examine crypto exchange Binance’s foray into equities

https://www.ft.com/content/cfbd084f-a118-4090-8301-2e45eceac304

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Fed says no change to monetary policy, Credit Suisse’s new chair aims for turnround Apr 29, 2021

Show notes

The Federal Reserve upgraded its view of the US economic recovery, but kept interest rates close to zero, Brussels has insisted it is putting in place tough new processes to ensure the EU’s unprecedented recovery fund is not frittered away and global health expert Abraar Karan talks about the current surge in coronavirus cases in India. Plus, the FT’s banking editor, Stephen Morris, explains how Credit Suisse got itself into so much trouble and whether it can dig itself out.

Fed paints rosier picture of US economic recovery

https://www.ft.com/content/296ae4e6-5e4e-44fc-8636-67e2ad38eee4

Brussels vows to apply tough rules to recovery spending

https://www.ft.com/content/1b345e2a-e442-42df-b9ae-4e0bfe68dcbe?

Credit Suisse: plotting a comeback after ‘costly mistakes’ took it to the brink

https://www.ft.com/content/2cac83f5-9631-45ae-8080-586a6bc90d55

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Google’s big Q1, how to craft a New Deal for the young Apr 28, 2021

Show notes

Google reported record first quarter earnings, and stock market listings around the world are running at their fastest pace this year. Plus, FT columnist Sarah O’Connor explains why millennials and Gen Z have been hit so hard by the pandemic, and what can be done to help them.

Google ad boom sends profits to new record

https://www.ft.com/content/c686458c-e544-4c50-990d-954b91d955ed

Global IPOs run at fastest pace since 1995

https://www.ft.com/content/857c1286-d35e-404a-ae7c-8d04b7508810

‘We are drowning in insecurity’: young people and life after the pandemic

https://www.ft.com/content/77d586cc-4f3f-4701-a104-d09136c93d44

All over the world, the economic cost of the pandemic has been borne disproportionately by the young. This week the FT is hosting a series of live panel debates in which FT writers make the case for specific policies that would make the economy work better for young people – covering housing, pensions, jobs, education and the environment. Join us and share your own policy ideas, comments and questions to be part of the conversation

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