FT News Briefing

Read a transcript of this episode on FT.com https://www.ft.com/content/4ce62a29-5401-4fa1-8af4-20e892e50fe8 Divisions between the US and Europe over whether Kristalina Georgieva should remain in her post as IMF chief are set to overshadow the fund’s flagship annual meetings this week, and the Chinese company BYD is one of the world’s biggest electric vehicles battery makers and also makes its own EVs which it hopes to market globally; and our Science Editor, Clive Cookson, talks about new research into personalised treatments for depression using electrical brain implants, or neural electronics, that also could be used for other conditions. Divisions over Georgieva’s fate to overshadow IMF annual meeting - with Colby Smith  https://www.ft.com/content/a0cfb7d5-ad32-4aa1-9e08-952accde5b44 Battery technology gives China an opening in electric vehicles - with Henry Sanderson  https://www.ft.com/content/fcbc860b-51cd-40d8-b65f-db97ce9adc57 Electrical brain implants: a new way to treat depression? - with Clive Cookson  https://www.ft.com/content/b255322b-eb91-4898-aa79-e29d51794b73 The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, 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.  See acast.com/privacy for privacy and opt-out information.

The story of how a tiny, unknown hedge fund took on a giant of corporate America over climate change - and won. Charlie Penner of Engine No 1 talks about the very public proxy campaign he launched against Exxon Mobil, forcing the oil major to prepare for a future free of fossil fuels.   In the third episode of our special five-part series on sustainable or ESG investing, produced in partnership with the FT’s Moral Money team, Derek Brower, US energy editor, and Attracta Mooney, the FT’s investment correspondent, reflect on whether the battle between Engine No 1 and Exxon marks the beginning of a new kind of activist investor. Engine No 1, the giant-killing hedge fund, has big plans DWS probes spark fears of greenwashing claims across investment industry Check out stories and up-to-the-minute news from the Moral Money team here.  Get 30 days of the premium Moral Money newsletter free, together with complimentary access to FT.com for the same period, visit www.ft.com/insideesg Review clips: The Sun, Channel 4 News, Euronews, PBS Newshour, GMA, CNN, CNBC, ExxonMobil  See acast.com/privacy for privacy and opt-out information.

Read a transcript of this episode on FT.com https://www.ft.com/content/fca004be-9f93-4681-bdd1-931ba5c2f50f Ireland has finally abandoned its cherished 12.5 per cent corporate tax rate and signed up to a minimum 15 per cent global rate that will cost the country about €2bn in lost revenues; it was a volatile week for energy markets; and stagflation has returned as a risk for investors and cast a shadow over the recovery from the Covid-19 pandemic. Plus, the FT’s deputy head of Lex, Elaine Moore, digs into the allegation that Facebook presents misleading user numbers.  Stagflation risk returns for investors as gas prices surge https://www.ft.com/content/1e68148c-7f61-4bb4-af68-aa2c7d898111 OECD close to final global compact on corporate tax https://www.ft.com/content/3e3e6a7d-67d5-437d-a7b2-29c52ce9c78f Ireland signs up to global corporate tax deal https://www.ft.com/content/2a2f69aa-f61a-4f4e-934f-293665019229 Facebook: whistleblower allegations of misleading audience size should be taken seriously https://www.ft.com/content/3efd0b49-0dc3-41c5-b4b5-1f553d7bbc23 The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, 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.   See acast.com/privacy for privacy and opt-out information.

Read a transcript of this episode on FT.com https://www.ft.com/content/411bb70a-8fe9-41ef-bd58-e4798b12c2a2 Vladimir Putin hinted that Russia’s state-backed monopoly pipeline exporter, Gazprom, may increase supplies to help Europe avoid a full-blown energy crisis, and US energy secretary Jennifer Granholm has raised the prospect of releasing crude oil from the government’s strategic petroleum reserve as the Biden administration confronts a politically perilous surge in the price of gasoline; General Motors plans to double its revenues by 2030 as the company steers towards electric vehicles, and the latest data leak detailing the financial affairs of the global elite makes clear how much progress has been made since the world began clamping down in earnest in 2008 — and how much remains to be done. Gas markets whipsaw after Russia offers to stabilise energy prices https://www.ft.com/content/e06c3b5d-153d-4c86-8c49-0d5447d58e76 General Motors aims to double sales by 2030 with boost from electric vehicles https://www.ft.com/content/d02e8cc3-29a1-4634-bfb6-b658b1b4f4a4 From Panama to the Pandora papers: what’s changed in offshore tax https://www.ft.com/content/1fe7a5a1-7515-4226-8906-b9c1eaecc455 JAB seeks to raise $5bn fund to invest in petcare  https://www.ft.com/content/93a23966-1b26-4e7b-aa0c-9ff2654e9990 The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, 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.   See acast.com/privacy for privacy and opt-out information.

Read a transcript of this episode on FT.com https://www.ft.com/content/eb1b2bc3-1edf-444b-ac44-8e3a79cd8887 Private equity firms are offering the highest premiums for listed companies in more than two decades, and the Facebook whistleblower told Congress on Tuesday the company repeatedly chose to maximise online engagement instead of minimising harm to users. Plus, the FT’s Africa editor, David Pilling, explains Gabon’s effort to reposition itself as a “green superpower” and gain recognition for preserving its tropical forests.  Private equity pays record premiums for public companies https://www.ft.com/content/69c28c74-e957-4009-912a-aee1c452995d Facebook chose to maximise engagement at users’ expense, whistleblower says https://www.ft.com/content/41b657c8-d716-436b-a06d-19859f0f6ce4 Africa’s green superpower: why Gabon wants markets to help tackle climate change https://www.ft.com/content/4f0579ac-409f-41d2-bf40-410d5a2ee46b Behind the Money Podcast: The tiny fund that took on a US giant and won https://www.ft.com/behind-the-money The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, 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.  See acast.com/privacy for privacy and opt-out information.

Read a transcript of this episode on FT.com https://www.ft.com/content/bc24e812-a089-43e1-bc7a-289916c97229 US oil prices rose to the highest level in seven years on Monday after Opec and its allies declined to accelerate plans to increase crude production, and shares of big tech companies slid on Monday, with stocks such as Apple, Microsoft, Facebook and Amazon dragging the S&P 500 to its lowest close since late July. Plus, the former Facebook employee who leaked explosive internal documents will testify before US lawmakers today and is expected to urge members of Congress to regulate the social media platform much more tightly. Tech stock slide drags Wall Street lower https://www.ft.com/content/1fba7824-ad14-46bd-a379-404e6b18abc0 US oil hits 7-year high after Opec+ resists calls to accelerate production https://www.ft.com/content/ccd6f6d6-6045-4f0c-8638-9b0e01fee1c5 Five problems the Facebook whistleblower wants to fix https://www.ft.com/content/2dbf79af-6dc5-4c98-90f0-af396c13e3ad Warren calls on SEC to probe trading by Federal Reserve officials - with Colby Smith  https://www.ft.com/content/9111b7c5-53c5-4d6f-9b6d-ca3533057908 The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, 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.   See acast.com/privacy for privacy and opt-out information.

Read a transcript of this episode on FT.com https://www.ft.com/content/fc9fe04c-96ad-4127-ac98-2fbf579c36b6 The International Monetary Fund’s board will meet this week to examine allegations that managing director Kristalina Georgieva manipulated data to favour China while she worked at the World Bank; Deutsche Bank severed relationships with “a very small number” of wealthy clients with criminal records after the arrest of disgraced financier Jeffrey Epstein; Plus, the FT’s Alphaville editor, Izabella Kaminska, talks about how the availability of gene-editing tools such as Crispr has led to an explosion of unchecked DIY experiments and dangers associated with biohacking.  War of words escalates over China bias claims against IMF chief https://www.ft.com/content/7fbface9-9e1c-41c4-84e9-1eb7fbb2023e Deutsche Bank dropped risky clients after Epstein scandal https://www.ft.com/content/28744ecd-e798-4516-b9bb-6257b37f2377 Bioterror: the dangers of garage scientists manipulating DNA https://www.ft.com/content/9ac7f1c0-1468-4dc7-88dd-1370ead42371 The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, 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.   See acast.com/privacy for privacy and opt-out information.

Read a transcript of this episode on FT.com https://www.ft.com/content/5f0402b7-812a-4314-aba1-cee242f9e161 US senators are pressuring Facebook to release all its internal research into how its products affect users after a series of revelations about the harm some its platforms cause to vulnerable groups including children. FT European technology correspondent Madhumita Murgia argues that it’s time for Facebook to turn off its digital advertising firehose. FT markets editor Katie Martin deciphers the message from this week’s bond market activity. And FT science editor Clive Cookson discusses how artificial intelligence can improve weather forecasting . Facebook pressed to release research on how its platforms affect users https://www.ft.com/content/b0e387f4-4a2f-49d3-9852-f8cf7dcc211c Time to turn off Facebook’s digital fire hose https://www.ft.com/content/d5dcfece-4e3c-4937-81ac-20dc736c4c27 Global bond market set for worst month since early 2021 https://www.ft.com/content/42e62e77-f830-4e5a-895f-7837a72847b0 DeepMind and UK’s Met Office use AI to improve weather forecasts https://www.ft.com/content/602235aa-7039-472a-80cf-55fa3519ea06 The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, 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.   See acast.com/privacy for privacy and opt-out information.

As sanctions derail its traditional business, China’s Huawei is scrambling to reinvent itself by shifting into areas less dependent on foreign chip supplies. China’s Belt and Road Initiative has left scores of lower and middle-income countries saddled with “hidden debts” totalling $385bn. Hong Kong’s stock market is on track for its worst quarter for new listings since the earliest days of the Covid-19 pandemic. And Japan’s new Prime Minister, Fumio Kishida, is seen as unlikely to veer from his predecessor’s economic policies. Hong Kong faces worst quarter for stock listings since pandemic https://www.ft.com/content/40436534-cd31-4959-a7c1-95065e281046? ‘Hidden debt’ on China’s Belt and Road tops $385bn, says new study, with Ed White  https://www.ft.com/content/297beae8-7243-4d93-9fac-09e515e82972 The necessary reinvention of Huawei, with Kathrin Hille  https://www.ft.com/content/9e98a0db-8d0a-4f78-90d3-25bfebcf3ac9 Japan’s ruling party appoints ‘Mr status quo’ Fumio Kishida as next leader, with Kana Inagaki  https://www.ft.com/content/9c3b578f-2dd5-4913-acc9-4252c80214e1 The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, 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.   See acast.com/privacy for privacy and opt-out information.

Read a transcript of this episode on FT.com https://www.ft.com/content/6cd13eb2-0ab7-40a5-816f-43e963a3ce05 The government bond sell-off that began last week on the prospect of higher interest rates ricocheted into the $51tn US stock market on Tuesday, weighing heavily on technology stocks, and Treasury secretary Janet Yellen warned that the US risks running out of money by October 18. Plus, the FT’s Ryan McMorrow chats about China’s latest crackdown on cryptocurrency trading and whether exchanges are cooperating.    Janet Yellen warns US risks running out of money by October 18 https://www.ft.com/content/dc589573-0284-409e-a3df-9a4b102569ac US stocks suffer biggest loss since May as bond sell-off hits tech sector https://www.ft.com/content/7541c364-736b-488b-a793-7ba5cf517f49 Oil prices rise above $80 a barrel for first time in three years https://www.ft.com/content/14d4980b-8163-4359-bc4a-fb2b7f7d2c27 Cryptocurrency exchanges start cutting off Chinese users https://www.ft.com/content/9c42c660-7e80-47c2-8b3b-3398c6a22eaf The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, 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.   See acast.com/privacy for privacy and opt-out information.

Read a transcript of this episode on FT.com https://www.ft.com/content/1505ec37-b798-4016-8f80-d959bd6eac9c Two senior Federal Reserve officials whose trading activity prompted the US central bank to launch an ethics review on Monday announced they will resign, and today Fed chair Jay Powell will join other central bank chiefs at a European Central Bank forum. Plus, where does Germany go after its razor-thin election? The FT’s Europe editor, Ben Hall, explains that it could be a while before there is a clear picture for the country’s government.  Regional Fed chiefs step down after securities trading controversy https://www.ft.com/content/b899a77f-9853-4d20-ad84-21848b7e7ce2 ECB official and OECD warn of rising inflation risks https://www.ft.com/content/55300c7b-ab06-40c4-a5f4-ed02ddb31374 Germany’s ‘kingmaker’ parties to start talks after narrow SPD election win https://www.ft.com/content/fe539f99-8311-4ad7-96c0-ebc30ed9c1a0 Hollywood agency CAA acquiring rival ICM to create movie powerhouse https://www.ft.com/content/fd6a3976-540e-49e7-bf1d-2ac272573033? Join FT journalists on October 4 for a subscriber-only webinar on the outcome of Germany’s historic election and its implications for Germany, Europe and the rest of the world. Register free at ft.com/germanwebinar The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, 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.   See acast.com/privacy for privacy and opt-out information.

Read a transcript of this episode on FT.com https://www.ft.com/content/c2d3fe11-799d-4f66-be2c-806dda7a9f87 At least two Chinese cities are seizing presale revenues from indebted property developer Evergrande in order to block potential misuse of funds, and the SPAC bubble appears to be deflating as investors pull cash out of special purpose acquisition vehicles at increasingly higher rates; more than 150 US economists and researchers have weighed in on how women will be affected economically if US states add new restrictions on abortion access, polls in Germany closed last night with the two leading parties neck and neck, and the FT’s US banking editor Joshua Franklin discusses shrinking CEO tenure among US finance companies and the “Forever CEOs” who are bucking that trend. Join FT journalists on October 4 for a subscriber-only webinar on the outcome of Germany’s historic election and its implications for Germany, Europe and the rest of the world. Register free at ft.com/germanwebinar Chinese cities seize Evergrande presales to block potential misuse of funds https://www.ft.com/content/595c3f50-755d-4dcc-afc3-4c993e50a936 Soaring Spac redemptions signal their fall from favour https://www.ft.com/content/1a9be04e-a298-49bb-a3d8-2efee22bca01 Lack of abortion access will set US women back, economists warn - with Claire Bushey  https://www.ft.com/content/61251b31-0041-461c-bd33-aacf2f13fe10 In era of quick-fire bosses, Wall Street embraces the ‘Forever CEO’ - with Joshua Franklin https://www.ft.com/content/4814a8ca-57a2-43f1-a6da-f126a4254f6d German election likely to extend Merkel’s long goodbye https://www.ft.com/content/f30df070-5415-4bd7-b4b4-0bdd4dff3b3c The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, 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.  See acast.com/privacy for privacy and opt-out information.

Introducing our new FT Weekend podcast. New episodes every Saturday. This is the last episode of the FT Weekend which will be published in this feed, so if you want to keep listening, subscribe now by searching ‘FT Weekend’ in your podcast app of choice. In our third episode, we explore the question of how we’ve changed. Host Lilah Raptopoulos talks to the writer Imogen West-Knights about the phenomenon of treat brain: how the pandemic spurred our desire to excessively indulge. Then, columnist Janan Ganesh describes why lockdown decidedly did not change him — and why he’s worried if it changed you. Plus: Maria Shollenbarger sweeps us away on the world’s most glamorous train. Links from the episode: —Imogen West-Knights describes Treat Brain: https://www.ft.com/content/3ed08931-80b0-43a0-9bba-6c4bcc1b3e70 —Janan Ganesh on the lockdown epiphany that wasn’t: https://www.ft.com/content/bf7c501e-12a5-4737-b297-15eba91b26a0 —Maria Shollenbarger aboard the Orient Express: https://www.ft.com/content/9f776436-8205-48cc-a879-7a053f388671 —Lilah’s Instagram Live with Esther Perel: https://www.instagram.com/tv/CULKKCcJXdq/ We want to hear from you! Follow us on Twitter @ftweekendpod, and Lilah is on Instagram and Twitter @lilahrap. What are you reading, watching, eating, doing, that is making you happy? We want your recommendations, and may use them in a future episode. Write us, or record and send us a voice note at ftweekendpodcast@ft.com. Sound design and mixing is by Breen Turner, with original music by Metaphor Music  See acast.com/privacy for privacy and opt-out information.

Read a transcript of this episode on FT.com https://www.ft.com/content/74160c71-c5b0-435c-9c09-1c5e9572bb1c German voters head to the poll this weekend and the FT’s Berlin correspondent, Erika Solomon, previews this momentous election. Turkey’s central bank unexpectedly cut its benchmark interest rate on Thursday despite accelerating inflation that had already turned borrowing costs negative in real terms. A German foreign policy advisor lashed out at the US about the new Aukus security pact. And US Treasury prices dropped and yields rose on Thursday as traders reacted to the prospect of higher interest rates.  Government bond yields rise as investors look to rate rises - with Kate Duguid  https://www.ft.com/content/41481456-0bc1-4c54-8e54-05e2ab4042eb Turkey cuts interest rate to send lira tumbling as inflation soars - Ayla Jean Yackley  https://www.ft.com/content/ad0f061a-7494-4ff3-be30-c5e8436cfaa9 Aukus security pact is ‘insult to a Nato partner’, says Merkel adviser https://www.ft.com/content/dfc4f860-c178-4c2a-a46c-c5f4e5595b1a Germany’s election: a new era of uncertain coalition politics - with Erika Solomon  https://www.ft.com/content/1fb608e3-1b57-4361-894e-7dc1d1a5abfd The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, 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.  See acast.com/privacy for privacy and opt-out information.

Read a transcript of this episode on FT.com https://www.ft.com/content/a3b42914-2e0e-4246-bc45-1ea9b19b690b The Federal Reserve has given its strongest signal yet that it will start tapering its bond buying stimulus programme this year and more central bank officials see a first interest rate rise in 2022; Japan’s SoftBank has followed Saudi Arabia’s Public Investment Fund and Abu Dhabi’s Mubadala in backing a new $2.5bn private equity fund set up by former US Treasury secretary Steven Mnuchin just eight months after he left office; and the FT’s James Kynge explains that the unravelling of China’s Evergrande property developer shows deep flaws in the country’s growth strategy.  More Fed officials see first interest rate rise in 2022 https://www.ft.com/content/719c11ec-fb24-40b3-a661-518aa3bc6028 SoftBank backs Steven Mnuchin’s $2.5bn private equity fund https://www.ft.com/content/24da1d88-8e63-4868-849f-3e3ecff1c39a Valued at $41bn in 2020, the spectacular unravelling of the Chinese property group Evergrande exposes deep flaws in Beijing’s growth strategy https://www.ft.com/content/ea1b79bf-cbe3-41d9-91da-0a1ba692309f Rachman Review: Biden and the world  https://www.ft.com/rachman-review The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. 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.   See acast.com/privacy for privacy and opt-out information.