FT News Briefing

Read a transcript of this episode on FT.com https://www.ft.com/content/bde35a2f-ae3f-4fc5-920f-a6bca45d9eb3 Poland and Hungary could lose billions of euros in EU regional aid as the European Commission prepares to wield powers linking the funds to human rights standards in member states, and the ride-hailing group Uber says it is on course to report its first-ever profitable quarter, on an adjusted basis, after more than a decade of burning through billions of dollars in cash, and Gulf states are struggling to balance relations between Washington and Beijing.  Behind the Money, Inside ESG: is the $1.7tn wave of sustainable investing hope or hype? https://www.ft.com/behind-the-money Poland and Hungary face threat to EU regional aid over human rights concerns https://www.ft.com/content/3ca265c0-d1d1-4acf-bc9e-b208dab98293 Uber on course to post first profitable quarter https://www.ft.com/content/ee8c9dfa-b59e-4415-b380-1cdf2f15976c ‘More of China, less of America’: how superpower fight is squeezing the Gulf https://www.ft.com/content/4f82b560-4744-4c53-bf4b-7a37d3afeb13 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.

Read a transcript of this episode on FT.com https://www.ft.com/content/dd3aef66-5189-4b85-873a-e82c80be3c2d Global financial markets are jittery about the possible default of indebted Chinese property developer Evergrande but the FT’s markets editor Katie Martin explains why it is unlikely to be another Lehman Brothers; foreign investors, especially from China and Japan, have become major buyers of US Treasuries and could prop up the market if the Fed withdraws; and Coinbase backed down from launching a new lending product after US regulators threatened to sue.  Wall Street stocks sell off as Evergrande crisis intensifies https://www.ft.com/content/952923b7-f421-407e-b14a-ad2ff190a134 Foreign investors help prop up Treasury market as Fed considers retreat  https://www.ft.com/content/47551bfb-8ca3-4e73-b34b-0ad19905ae15 Shell agrees $9.5bn sale of Permian Basin oil business to ConocoPhillips https://www.ft.com/content/33e48318-91ab-47e4-88f3-72986b0a85f6 Coinbase abandons lending product after SEC pushback https://www.ft.com/content/bd09f8bf-e65b-4870-affe-55b5346af3e1 Rusal strikes deal to supply Budweiser with ultra low-carbon cans https://www.ft.com/content/ff76ebe5-ca61-417c-b191-1a2c152a935e 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.

Read a transcript of this episode on FT.com https://www.ft.com/content/efcae358-e439-4135-9600-55b23dcd7dc8 Australia’s nuclear submarine deal with the US and UK is set to provide a political boost for Scott Morrison’s conservative government, and UK business and energy secretary Kwasi Kwarteng is due to meet energy suppliers on Monday amid fears that dozens of companies could go bust in the coming weeks due to record high gas and electricity prices, and Beijing has pushed through reams of regulations and policies designed to shore up China’s data security, reinforcing the control it exercises over huge volumes of data used in governing the country, boosting the economy and ordering people’s lives. Australia and France intensify war of words over cancelled submarine deal https://www.ft.com/content/55173c4e-79a4-4a65-8294-3fc666026a0b Morrison’s submarine deal drives wedge between Australian opposition https://www.ft.com/content/e7e40eae-0011-4d0a-8a59-b5d5625c7389 UK energy groups ask for government ‘bad bank’ to weather gas crisis - with David Sheppard  https://www.ft.com/content/684e4ef1-87a9-4bdf-96f4-956df4e0a1e2 China and Big Tech: Xi’s blueprint for a digital dictatorship - with James Kynge  https://www.ft.com/content/9ef38be2-9b4d-49a4-a812-97ad6d70ea6f 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.

Introducing our new FT Weekend podcast. New episodes every Saturday. We will soon stop publishing FT Weekend on this feed, so you if want to keep listening, subscribe now before you forget! Search FT Weekend in your podcast app of choice. In this episode, Life & Arts columnist Enuma Okoro explores what our cities tell us about ourselves. Then Lilah speaks with Elif Shafak—the most widely read woman novelist in Turkey—about writing in countries without freedom of speech, and her new book, The Island of Missing Trees. Plus: our prolific Undercover Economist Tim Harford makes a case for letting go of your to-do list. You can subscribe to the FT Weekend podcast by searching for 'FT Weekend' wherever you listen. We're on Twitter @ftweekendpod, and Lilah is on Instagram and Twitter @lilahrap. Email us at ftweekendpodcast@ft.com. Sound design and mixing is by Breen Turner, with original music by Metaphor Music. Links from the episode: —Enuma Okoro’s love letter to New York City: https://www.ft.com/content/e2507d84-9a12-4755-a9c7-41c9ea116947 —Lilah’s piece about visiting Armenia: https://www.ft.com/content/2e2f38b0-e7a1-11e8-8a85-04b8afea6ea3 —Review of Elif Shafak’s novel, The Island of Missing Trees: https://www.ft.com/content/1a064a06-bd19-43c7-8237-38931853d0e2 —Tim Harford on to-do lists: https://www.ft.com/content/06ffe40d-fdcc-4be8-b536-810cedce7ed1 —Oliver Burkeman on how not to waste your life (paywall): https://www.ft.com/content/dd0d477b-c1f7-4d74-af68-c1ef1692566c  See acast.com/privacy for privacy and opt-out information.

Read a transcript of this episode on FT.com https://www.ft.com/content/8e3784f8-5605-40aa-a8b5-3d0e5bdae9a9 An unpublished internal model seen by the FT shows that the European Central Bank expects to hit its elusive 2 per cent inflation target by 2025, and Myanmar’s shadow government is fighting back against the military junta. Plus, the FT’s markets editor, Katie Martin, explains why Laos is allowing cryptocurrency mining.  Unpublished ECB inflation estimate raises prospect of earlier rate rise https://www.ft.com/content/0ee1336d-1c7c-43b5-a8ed-f141f31fb70e Laos pushes into crypto as it authorises mining and trading https://www.ft.com/content/3a820200-0128-42b3-be6c-f5abd6381efa Myanmar violence mounts after shadow government embraces ‘war’ https://www.ft.com/content/492bd2b6-e5c9-4d9e-81ea-b95f6c14aef9 MassMutual fined $4m over meme-stock trading by ‘Roaring Kitty’ https://www.ft.com/content/7ce3b9a4-1f86-4e49-a3cf-6b5a445fef0e 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.

Read a transcript of this episode on FT.com https://www.ft.com/content/91b4abd2-1ef7-4069-ac25-a4759a2ddfb8 Washington has launched a security partnership with London and Canberra which will support Australia’s plan to build a fleet of nuclear-powered submarines and strengthen the allies’ ability to counter China, and Canada holds an election next week with prime minister Justin Trudeau facing unexpected competition, and Amazon plans to become just as ubiquitous in healthcare as it is in other markets by producing the tools and platforms to underpin an industry on the cusp of dramatic modernisation. US builds bulwark against China with UK-Australia security pact https://www.ft.com/content/565160c7-b5e0-4750-858a-37224bf3db0c The Rachman Review: Is Trudeau’s popularity wearing thin? https://www.ft.com/rachman-review  The next Big Tech battle: Amazon’s bet on healthcare begins to take shape https://www.ft.com/content/fa7ff4c3-4694-4409-9ca6-bfadf3a53a62 Didi loses 30% of daily users after Beijing crackdown following IPO https://www.ft.com/content/13a768b0-1000-4cad-8a03-36a1e66f460b 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.

Read a transcript of this episode on FT.com https://www.ft.com/content/24c2b733-9dca-4dcf-81d2-ca90583a3ac9 US consumer prices in August rose at a more moderate pace in a sign that inflationary pressures associated with the end of Covid-19 lockdowns are easing, and bank executives say consumer spending is outpacing pre-pandemic levels as shoppers shrug off the Delta variant, and Blackstone abandoned a large deal in China after Beijing’s antitrust regulators refused to sign off on it within the agreed time frame, and big Chinese cities suspended land auctions in response to rules aimed at lowering housing prices.  Pace of US consumer price rises cools slightly in August https://www.ft.com/content/eaf6d095-1531-4458-a504-c110d4101469 US consumers still spending despite Delta risk, banks say https://www.ft.com/content/5189f544-c7ff-4564-8b46-1fb74b70dfd5 Blackstone drops $3bn takeover of property developer Soho China  https://www.ft.com/content/b732381e-61ea-4bab-8260-5048ff737047 Chinese land auction blunder undercuts Xi’s inequality crusade https://www.ft.com/content/40187a8f-9776-4036-91ca-665b44cec086? Call of the great outdoors fades for advertisers during muted commuting https://www.ft.com/content/037b6d79-b9e9-4dc1-8224-413a7f613332 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.

Read a transcript of this episode on FT.com https://www.ft.com/content/63d65f6a-045d-4da8-b170-c30642cea5cc Chinese police are using a new anti-fraud app installed on more than 200m mobile phones to question people who have viewed overseas financial news sites, and Brazil’s first openly gay state governor enters the country’s race for president. Plus, the FT’s Houston correspondent, Justin Jacobs, explains why new biofuels refineries are creating headaches for the food industry.  China uses app to monitor access to overseas financial news sites  https://www.ft.com/content/84b6b889-ae03-47f7-9cd0-bd604b21d5de   Brazil governor pitches third way between Bolsonaro and Lula in 2022 elections - with Michael Stott  https://www.ft.com/content/06b00d4b-9cf9-41d3-b888-50ee8613bf12 ‘Diesel vs doughnuts’: new biofuel refineries squeeze US food industry - with Justin Jacobs   https://www.ft.com/content/b5839a04-a06a-49c1-8622-2974cbb9a84a   British hedge fund partner plots return of Trump-era social network Parler https://www.ft.com/content/261fecd4-715f-4b90-a7fa-57d7d4013788 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.

Read a transcript of this episode on FT.com https://www.ft.com/content/40cef59a-441b-4b97-bea8-7a3ec838bc4b Beijing wants to break up Alipay and create a separate app for the company’s highly profitable loans business, Norway’s voters will weigh in on the country’s petroleum production in what’s being called a “climate election,” and a new analysis found that Ireland is failing to keep US Big Tech companies in check. Plus, the FT’s Laurence Fletcher explains why hedge funds are muscling into Silicon Valley and making a record number of deals.  FT survey: The return to the office - are you under pressure to go back? https://survey.ft.com/jfe/form/SV_4MZ2tuhkW4NghKu Beijing to break up Ant’s Alipay and force creation of separate loans app https://www.ft.com/content/01b7c7ca-71ad-4baa-bddf-a4d5e65c5d79 Norway’s oil rises to top of election agenda as climate fears grow - with Richard Milne https://www.ft.com/content/70b3ec35-6558-4032-9a0c-47c40a6df5a8 Ireland ‘fails’ to enforce EU law against Big Tech https://www.ft.com/content/5b986586-0f85-47d5-8edb-3b49398e2b08 Hedge funds muscle in to Silicon Valley with private deals - with Laurence Fletcher https://www.ft.com/content/4935b205-8344-465a-8edf-dc23ec990302 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.

Twenty years after the Twin Towers were brought down, FT Weekend host Lilah Raptopoulos explores where 9/11 sits in our memories. The FT’s New York correspondent Joshua Chaffin introduces us to billionaire developer Larry Silverstein, who bought the World Trade Center in July of 2001 and had to rebuild on the site of a tragedy. How do spaces change in meaning over time? The FT’s former Kabul correspondent Jon Boone introduces us to the “New Afghanistan” generation, what they were promised, and what was lost. Plus: we hear from a woman who fled the Taliban and is now waiting in limbo in Albania, suddenly a refugee. You can subscribe to FT Weekend podcast by searching for FT Weekend wherever you listen. We’re on Twitter at @FTWeekendpod. Lilah is on Twitter and Instagram @lilahrap. Links from the episode: Josh Chaffin on Larry Silverstein: https://www.ft.com/content/f38a5067-58d1-491f-902f-568abcdd8a84#comments-anchor Jon Boone on The Last Days of the New Afghanistan: https://www.ft.com/content/4a276093-cf85-4da7-9093-6af6443bb53a 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/0b052bc2-c481-49c7-a645-c83e90f45ff1 A poll shows leading economists believe the Federal Reserve will raise interest rates in 2022 due to inflationary pressures, the ECB says it will move to “a moderately lower pace” in its €1.85tn pandemic emergency purchase programme, and one of China’s largest property developers, Evergrande, faces the risk of default. Plus, the FT’s US Legal and Enforcement Correspondent, Stefania Palma, explains why regulators around the world are keeping an eye on the clash between the Securities and Exchange Commission and the cryptocurrency exchange, Coinbase. Economists forecast quicker return to US interest rate rises than Fed projections https://www.ft.com/content/0a7a4edd-b656-4d6a-b608-454241d0288e ECB to slow bond-buying as Europe’s economy improves https://www.ft.com/content/e8a78a9f-8e81-403a-a1be-9ad8e6199e72 SEC puts crypto industry on notice with Coinbase move https://www.ft.com/content/66eca8c0-2d3a-4578-bd92-e604e2af054f Evergrande liquidity crisis: why the property developer faces risk of default https://www.ft.com/content/6d127e05-2208-4226-9cd1-ef2f7463cdf0 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.

Read a transcript of this episode on FT.com https://www.ft.com/content/7344543b-aefa-4715-8494-7c92e1e531f2 A court heard opening arguments in the case against the founder of the failed blood-testing technology start-up Theranos, Janet Yellen has warned that the US Treasury could run out of cash next month, and PayPal has acquired the Tokyo-based buy now, pay later company, Paidy. Plus, the FT’s environment and clean energy correspondent, Leslie Hook, explains how the world’s largest CO2 direct capture plant works.  ‘Failure is not a crime,’ Theranos founder’s lawyers tell jury https://www.ft.com/content/b7462815-f022-4e11-a3fd-a7845b1191a2 Janet Yellen warns US Treasury risks running out of cash in October https://www.ft.com/content/4433d8ef-7d18-4c07-ba08-7f05fcbdb0b8 PayPal to acquire buy now, pay later provider Paidy for $2.7bn https://www.ft.com/content/cdeccd3c-fe41-4228-ad11-9efc6f5c9d2d World’s biggest ‘direct air capture’ plant starts pulling in CO2 https://www.ft.com/content/8a942e30-0428-4567-8a6c-dc704ba3460a EY will invest $2bn to improve audits after series of scandals https://www.ft.com/content/737dd635-dba2-49d7-bcdd-34f467b218ea? 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.

Read a transcript of this episode on FT.com https://www.ft.com/content/7a545b87-55eb-4dbd-b9a0-c80def4bdcf8 Pfizer’s chief scientific officer Philip Dormitzer denied that the company should have developed a more potent Covid-19 vaccine, and the Taliban has announced Afghanistan’s first government since the US left the country, and James Bullard, president of the St Louis Fed pushed back on concerns that the US labour market recovery is faltering. Plus, the FT’s Beijing bureau chief, Tom Mitchell, explains whether China is heading into a new political era under president Xi Jinping.  Top Pfizer scientist defends booster push and vaccine potency https://www.ft.com/content/3ee3efaa-766c-42c9-baf7-9825d3e78edf Taliban announces government as it faces growing crises and isolation https://www.ft.com/content/9cc0e2ca-19ab-4614-a168-76f1e4c1875b Top Fed official pushes for quick ‘taper’ despite weak US jobs growth https://www.ft.com/content/7c2fc0ce-e7c0-4083-92e8-e81d9235ab45 The Chinese control revolution: the Maoist echoes of Xi’s power play https://www.ft.com/content/bacf9b6a-326b-4aa9-a8f6-2456921e61ec 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.

Read a transcript of this episode on FT.com https://www.ft.com/content/768cdb61-a131-42de-b8d6-42c3c757cb82 Prime minister Boris Johnson will announce a tax rise of more than £10bn a year today, and the military junta that overthrew Guinea’s president is urging mining companies to keep operating.  Plus, the FT’s emerging markets correspondent, Jonathan Wheatley, explains why developing countries have provided fertile ground for cryptocurrencies to take hold.  Johnson set to unveil £10bn tax rise to fund NHS, social care https://www.ft.com/content/47120539-1930-4065-ae93-de84dc51378c Guinea coup leaders urge mining companies to keep operating https://www.ft.com/content/6ff3fe38-66f1-4d76-995a-457936305dd2 Cryptocurrencies: developing countries provide fertile ground https://www.ft.com/content/1ea829ed-5dde-4f6e-be11-99392bdc0788 ‘Shang-Chi’ smashes Labor Day records with $90m in ticket sales https://www.ft.com/content/731d8697-a894-4f81-aae6-0a27f3cf85ed 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.

Read a transcript of this episode on FT.com https://www.ft.com/content/6b286858-b05a-4211-8e04-315b4e8bac38 A frantic summer of dealmaking has put 2021 on track to break records, and Japan’s future is uncertain after prime minister Yoshihide Suga abruptly announced his departure. Plus, the FT’s private capital correspondent explains how a prominent British private equity firm went public this summer but has kept its executive pay opaque  Global dealmaking set to break records after frenzied summer https://www.ft.com/content/4b955a75-55a4-4e13-b785-638b88bbfb0b Yoshihide Suga’s exit sets off fight to reshape Japanese politics https://www.ft.com/content/fff52074-ee42-43c3-a96f-d1332005d802 Bridgepoint went public. Executive rewards stayed private. https://www.ft.com/content/25649306-ac8a-4183-894a-7df1eb798acf BrewDog launches venture with Japan’s Asahi to boost sales https://www.ft.com/content/964b92ae-18d7-41a0-b8f1-138baa54870e 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 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.