FT News Briefing

Israel’s parliament has voted in a new government, ending rightwing stalwart and five-time premier Benjamin Netanyahu’s 12-year grip on power, South Korean shipbuilders and sea freight companies will seek to raise billions of dollars via stock market listings in the second half of 2021 as the industries enjoy a global trade rebound, leaders of the G7 countries back a western rival to China’s Belt and Road Initiative to help developing countries tackle climate change. Plus, the FT’s global China editor, James Kynge, reports on how China’s smart city surveillance technology is being used around the world, and the growing backlash. End of era in Israel as Netanyahu is oustedhttps://www.ft.com/content/f0824e22-2e42-4d80-b0fa-574c6b12b9ddG7 set to agree ‘green belt and road’ plan to counter China’s influencehttps://www.ft.com/content/f33b43e6-0cea-486b-a3cf-628a31c09693Exporting Chinese surveillance: the security risks of ‘smart cities’https://www.ft.com/content/76fdac7c-7076-47a4-bcb0-7e75af0aadabKorean shippers to raise billions of dollars as global trade reboundshttps://www.ft.com/content/eab4b7b5-7590-477f-bd7e-e919501a54b4 Hosted on Acast. See acast.com/privacy for more information.

Leaders of the G7 economies convening in the UK will announce a pledge to provide 1bn coronavirus doses to poorer countries as part of plan to “vaccinate the world” by the end of 2022, US government bonds shrug off leap in inflation, global regulators are calling for cryptocurrencies to carry the toughest bank capital rules of any asset, and iconic British department store group Selfridges has been put up for sale with an estimated £4bn price tag after receiving an approach from a potential buyer.G7 leaders to pledge to donate 1bn Covid 19 doses to poorer countrieshttps://www.ft.com/content/000e6968-8ae4-4f00-9cb5-324b98aa779bUS bond rally eases pressure on emerging market hedge fundshttps://www.ft.com/content/c1058fd7-47cf-4bcc-9d8c-d5bf8887c715Global banking regulator urges toughest capital rules for cryptohttps://www.ft.com/content/3fe7be31-179a-47dd-9a61-8f4ea42b9c62?Selfridges up for sale with £4bn price taghttps://www.ft.com/content/134c756c-e220-44ec-a82c-afc0099bf9b1 Hosted on Acast. See acast.com/privacy for more information.

Today’s report on US consumer prices is expected to show that prices further accelerated in May, US president Joe Biden will use this week’s G7 summit to encourage allies to join Washington’s tougher stance towards Beijing, and Olympic sponsors worry if being associated with the games will damage their brand. Plus, the FT’s Eva Szalay interviews a market insider who says popular trading platforms that offer “zero commission” trades are not being entirely honest with customers. Will hot US inflation data unsettle markets?https://www.ft.com/content/7377a5d6-73e8-442e-96e8-ea2535286c08Joe Biden rallies allies to take tougher stance on Chinahttps://www.ft.com/content/203d664a-c834-48d7-805d-c49d44aa2a9aJapanese sponsors think twice about being associated with Tokyo Olympicshttps://www.ft.com/content/2e8b9ce5-95e0-4114-884b-f05de926ccdeRetail trading frenzy reflects ‘broken’ US equity markets, says XTX’s Gerkohttps://www.ft.com/content/d813fe90-29ba-4c98-ac57-c2919a7970b1Sign up for today’s Future of News event here: https://futurenews.live.ft.com/ Hosted on Acast. See acast.com/privacy for more information.

Joe Biden’s plan to overhaul the international tax system will face a difficult passage through the US Congress as Republicans threaten to vote down a prospective deal, and millions of internet users lost access to major sites yesterday due to a configuration error at a Silicon Valley internet infrastructure provider, Fastly. Plus, more than 800 people around the world have been arrested in a coordinated police sting that lured drug dealers, mafia members and other criminals onto an encrypted communications platform secretly run by the FBI. Cloud glitch brings down thousands of websitesft.com/content/0d5b9430-750b-44b7-b238-6e2160c3c591Hundreds arrested worldwide in Trojan Shield organised crime stinghttps://www.ft.com/content/47c271c1-0be3-4a5c-9ca6-b231ed0f7fef?Indian tycoons surpass Chinese tech moguls in global rich listhttps://www.ft.com/content/2026fa04-fc22-4e20-ad0e-3d76a1ddf028? Hosted on Acast. See acast.com/privacy for more information.

US officials say they have recovered $2.3m worth of ransom payments made to hackers who shut down the Colonial pipeline last month, investors pile into Biogen after the US Food and Drug Administration approves the company’s Alzheimer’s treatment, and Mexico’s president Andrés Manuel López Obrador loses his congressional supermajority. Plus, the FT’s Gulf correspondent, Simeon Kerr, explains why Abu Dhabi is shifting away from oil and investing more into arts, media and culture. US says it has recovered majority of Colonial pipeline ransomhttps://www.ft.com/content/43dab2dc-a7aa-4102-9779-d1b6ced2985bAlzheimer’s drug from Biogen wins US approvalhttps://www.ft.com/content/6f48610b-ec86-4deb-a89c-fc0a0f332bb0Mexico’s president loses congressional supermajority in electionshttps://www.ft.com/content/36e737a9-ae48-4ff8-8e6c-88f54344b372Abu Dhabi plans $6bn culture spend to diversify from oilhttps://www.ft.com/content/c0ae0344-280b-40f0-a67f-7edc24033caf?Jeff Bezos to go to space after stepping down at Amazonhttps://www.ft.com/content/defbe912-ceb9-4017-a215-16d214484597 Hosted on Acast. See acast.com/privacy for more information.

One of the world’s largest electronics contract manufacturers warns the global chip shortage could last until mid-2022, the G7 advanced economies have struck what they have termed a “historic agreement” on taxing multinationals, and China is taking measures to cool the renminbi rally. Plus, the FT’s venture capital reporter, Miles Kruppa, talks about cryptocurrency startups that aim to disrupt and decentralise finance. Chip shortage to last until at least mid-2022, warns manufacturerhttps://www.ft.com/content/04858089-fbe7-44f1-b096-8e705c664f8e?G7 strikes historic agreement on taxing multinationalshttps://www.ft.com/content/a308bbff-5926-47a1-9202-6263e667511eChina boosts measures to cool renminbi rallyhttps://www.ft.com/content/4ab2d4a7-4a73-4d39-bfba-f97dd91de54bSilicon Valley bets on crypto projects to disrupt financehttps://www.ft.com/content/0f179c8d-aa60-41d4-96d7-5d53e78c3514 Hosted on Acast. See acast.com/privacy for more information.

The Biden administration is banning Americans from investing in dozens of Chinese defence and surveillance technology companies, and US job creation is expected to have accelerated sharply in May which could signal an easing of labour shortages. Plus, the FT’s economics editor, Chris Giles, examines whether this current rise in prices is temporary, or whether inflation is back for an extended stay.Washington to bar US investors from 59 Chinese companieshttps://www.ft.com/content/91e6fb2a-6385-49b3-83aa-8044374805c4Economists see accelerating US job growth in May payrolls datahttps://www.ft.com/content/f38da494-2d09-4d8e-b39f-c531ee48ef3a?FT Series Inflation: a new era?https://www.ft.com/content/b6dfb1dc-eb86-4bad-87b0-d800b79195d3United hopes to revive supersonic era almost 20 years after Concordehttps://www.ft.com/content/903b47e9-86b3-4e68-a5e4-414b142cc7b0 Hosted on Acast. See acast.com/privacy for more information.

A wave of high-profile ransomware assaults over the past two months has convulsed the insurance market, US cinema chain AMC is offering popcorn to its retail investor base and its share price surged so fast trading was briefly halted, and the FT’s sports business correspondent Sara Germano talks about covering Naomi Osaka’s pushback on media coverage.  Cyber insurers recoil as ransomware attacks ‘skyrocket’ https://www.ft.com/content/4f91c4e7-973b-4c1a-91c2-7742c3aa9922?Cinema chain AMC surges after luring DIY traders with free popcorn https://www.ft.com/content/2cc442a9-28da-4bcd-88a2-fda1404f0ef6Naomi Osaka shows a shift in sport’s balance of powerhttps://www.ft.com/content/7a380a76-9bd7-4d8e-8cc9-5544c6f51b68Making chocolate can give Ghana a taste of prosperity https://www.ft.com/content/dbd20f9f-b9f7-4bf4-86dd-1a8c84069f01? Hosted on Acast. See acast.com/privacy for more information.

Former Apollo Global Management chief executive, Leon Black, has been hit with a lawsuit claiming that he raped and harassed a young Russian model, Opec and its allies caused oil markets to jump by sticking with their plan to only gradually release more barrels into the oil market, and Germany’s Green Party is struggling to maintain momentum as a September election approaches. Plus, Djibouti is one of Africa’s fastest growing economies. The FT’s east and central Africa correspondent, Andres Schipani, explains what is happening there.Ex-Apollo CEO Leon Black raped and harassed Russian model, lawsuit allegeshttps://www.ft.com/content/72244917-3208-43ab-b076-513c9fc058eeOil prices rally as Opec+ producers agree slow supply increasehttps://www.ft.com/content/e74a09b0-9ce3-46f0-95b9-5fa7f0792dceGermany’s Greens lose their lustre as election heats uphttps://www.ft.com/content/5c477906-c15c-4de9-bcf7-6cdbe5eb413d?Djibouti’s port dream to become the ‘Singapore of Africa’https://www.ft.com/content/15aefce3-2e6b-4e1a-b480-bfc066f7d8dd Hosted on Acast. See acast.com/privacy for more information.

The surge in pet ownership during the pandemic has helped propel the group behind pet insurer Bought By Many to a valuation of more than $2bn, and a director at the company behind the video game Final Fantasy says 5G could disrupt the reign of the console. Plus, the FT’s greater China correspondent, Kathrin Hille, tells us how Taiwan is dealing with the latest wave of Covid-19 and how it’s affecting chipmakers  Lockdown pet boom helps insurer to $2bn valuationhttps://www.ft.com/content/019cce7c-21e7-462c-b8ab-573a35218d7a‘Final Fantasy’ producer says 5G will end games console’s long reignhttps://www.ft.com/content/0fa963d8-1de8-4390-b3db-8e9908510605Taiwan imposes strict social curbs to stem its worst Covid outbreakhttps://www.ft.com/content/85604b0b-e7aa-4e26-a547-b3d27b262e6bCovid-stricken Brazil to host Copa America football tournamenthttps://www.ft.com/content/c3658bcf-695b-4e3e-9625-41b170e8248c Hosted on Acast. See acast.com/privacy for more information.

American retailers are rushing to secure inventory ahead of the year end holiday season, US financial authorities are preparing to take a more active role in regulating the $1.5tn cryptocurrency market, and Russia released $500m in credit to Belarus as western countries target Minsk with sanctions. Plus, the FT’s Unhedged columnist Robert Armstrong explains why he thinks bitcoin might be better thought of as an equity call option than a currency. US retailers rush to secure holiday season stockhttps://www.ft.com/content/3a7c02ba-89b0-45d1-8f02-d5eb3c002848Russia releases $500m loan to Belarus as west imposes sanctionshttps://www.ft.com/content/5953320d-c342-457a-af40-50424d159ffdUS regulators signal bigger role in cryptocurrencies markethttps://www.ft.com/content/a2c13ce0-6e66-4751-aa65-6c668d303101?Bitcoin as a call optionhttps://www.ft.com/content/ed884387-73a3-4e5a-b1db-8f122cd54887Nestlé document says majority of its food portfolio is unhealthy https://www.ft.com/content/4c98d410-38b1-4be8-95b2-d029e054f492? Hosted on Acast. See acast.com/privacy for more information.

 The market for special purpose acquisition companies has become an unexpected casualty of the Archegos Capital Management scandal, and the activist investors who won a stunning proxy battle against ExxonMobil this week said the supermajor would need to cut oil production. Plus, the FT’s markets editor, Katie Market, explains why European stocks are rallying while US equities lose some steam.  Archegos fallout hits market for blank cheque companieshttps://www.ft.com/content/ee15fbca-8ef7-4b6f-bb87-30378805dd29Hedge fund that beat ExxonMobil says it will have to cut oil outputhttps://www.ft.com/content/52645b30-c378-49e3-8609-4f537284889aInvestors bet eurozone stock rally will gather steam as economy reboundshttps://www.ft.com/content/159bbd29-7bb7-448f-9603-c42a57c90ea3? Hosted on Acast. See acast.com/privacy for more information.

Tesla is set to pay for chips in advance to overcome the global chip shortage, and Amazon locks in its $8.45bn acquisition of MGM. Plus, the FT’s US energy editor, Derek Brower, explains what a court case against Royal Dutch Shell and a historic proxy vote at ExxonMobil means for the oil industry and the environment.  Climate activists hail breakthrough victories over Exxon and Shell https://www.ft.com/content/fa9946b9-371b-46ff-b127-05849a1de2da?Amazon-MGM: Will MGM be Amazon’s ticket to the big leagues?https://www.ft.com/content/97d2edb8-355c-4af0-9f00-8b0a65d818f1Tesla set to pay for chips in advance in bid to overcome shortagehttps://www.ft.com/content/49459668-7eab-4589-8338-059e06b9fd8a?Iran bans bitcoin mining as power cuts grip country https://www.ft.com/content/be0c8a04-9a58-4926-83f3-b99141c4f721? Hosted on Acast. See acast.com/privacy for more information.

England’s National Health Service is preparing to scrape the medical histories of 55m patients into a database it will share with third parties, and dozens of American companies that suspended political contributions after the US Capitol attack are sitting on $28m in unspent cash. Plus, the FT’s senior energy correspondent, Anjli Raval, explains how fossil fuel-dependent economies are vulnerable as the world shifts away from oil and gas in order to hit 2050 emissions targets. England’s NHS plans to share patient records with third partieshttps://www.ft.com/content/9fee812f-6975-49ce-915c-aeb25d3dd748?US companies amass political funding cash pile after Capitol riothttps://www.ft.com/content/7151951f-5f1c-49fc-95f0-190ed00a4631Climate change: oil producers face costly transitionshttps://www.ft.com/editor/27b4b7f1-9b08-4406-8119-03a73fb6ce19?Cost of breakfast up by a third since start of pandemic https://www.ft.com/content/007bd0a0-f149-427d-937c-ec5b0ef4374d Hosted on Acast. See acast.com/privacy for more information.

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 Brexithttps://www.ft.com/content/891b2482-e15e-4c2f-8e51-9a4271599dc0Macron weighs economics versus politics in French reopeninghttps://www.ft.com/content/5fea422b-15a0-48a3-8a52-0113ece7db17Economic reform crucial to improving the lives of black Americanshttps://www.ft.com/content/377a163d-fdbf-4f11-bb4a-e26465f8c2aaEuropean groups pump money into Swedish ‘green steel’ start-up https://www.ft.com/content/ee91775f-0310-4e1b-b162-ffdf6e066757? Hosted on Acast. See acast.com/privacy for more information.

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-e2fa58e9db2bExxonMobile climate battle reaches boardroom this week https://www.ft.com/content/1ce31524-3c21-4978-b6b8-2e6a13f50288?AstraZeneca chief says ‘vaccine has a future’ after setbackshttps://www.ft.com/content/02c543e0-45a6-4189-94cf-30a5c3d5499d“We need arms:’ Europe’s risky move to project its influence in conflict zoneshttps://www.ft.com/content/dd29eb4d-1fc0-4123-ada1-290c4c63d966? Hosted on Acast. See acast.com/privacy for more information.

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 fightinghttps://www.ft.com/content/8aa0bee9-85e7-4cdf-82d5-e23475312f1cWeWork loses $2.1bn and a quarter of its members as lockdowns bitehttps://www.ft.com/content/60ea2f72-586f-4f3e-b153-3455b93539b8Rob Armstrong Unhedged: QE and stock prices https://www.ft.com/content/2db4a985-e053-4322-91b3-6c9793fd1c6c Hosted on Acast. See acast.com/privacy for more information.

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 offering on 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 bosshttps://www.ft.com/content/26d77bfe-b55a-4edb-bc57-7370b6c6a670?Entrepreneur behind Oatly’s rapid expansion faces US market testhttps://www.ft.com/content/e37d6985-5c48-46f4-8b02-a67c1a6dfd01Bitcoin gyrates on fears of regulatory crackdownhttps://www.ft.com/content/c4c29bb3-c8ee-454c-a2dd-eac9f644007fJapanese pensioners with US stimulus cheques descend on Tokyo banks https://www.ft.com/content/102e0104-ca6f-4d59-be1b-90860426d5a5? Hosted on Acast. See acast.com/privacy for more information.

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 Dimonhttps://www.ft.com/content/9e31d7a7-4911-493b-919d-31e04d756438Eurozone shows signs of bouncing back from double-dip recessionhttps://www.ft.com/content/c5de006b-6bdf-493d-a9bc-2f6a1871ba66?Foxconn the carmaker? Disruption in the era of electric vehicleshttps://www.ft.com/content/b229250d-5d9e-4bb1-bb91-e57888233a98 Hosted on Acast. See acast.com/privacy for more information.

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 conflicthttps://www.ft.com/content/d388d8b4-94ce-49d1-b8ab-df171286fdadEuropeans hamstrung by rifts on Gaza conflicthttps://www.ft.com/content/6c42bcb1-7013-4b74-8526-35ef7fae6f5d?Start-up focused on painkilling effects of cannabis to list in Londonhttps://www.ft.com/content/2952b9c9-f14a-4300-b1ac-d6c6bf5f8c8f?BlackRock accused of ESG inconsistency over Indonesia palm oilhttps://www.ft.com/content/479b9dd2-c738-4310-8b1e-afdfbd3921b0 Hosted on Acast. See acast.com/privacy for more information.

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 Discoveryhttps://www.ft.com/content/5aeba5f9-2e00-4cba-b9c7-e0431aad798bAxa’s Asian operations hit in ransomware attackhttps://www.ft.com/content/4443da60-6d90-4d27-b300-b0896425f99f?EU to back expansion of vaccine production capacity in Africahttps://www.ft.com/content/d2a47c7e-0b00-4e31-92ab-cd3ff0b9070bEmotion recognition: can AI detect human feelings from a face?https://www.ft.com/content/c0b03d1d-f72f-48a8-b342-b4a926109452? Hosted on Acast. See acast.com/privacy for more information.

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 riseshttps://www.ft.com/content/f7512415-46b2-4378-8356-2d1e2a8a760e?Netflix outpaced by the old media companies it sought to dethronehttps://www.ft.com/content/48c06611-1c17-4941-96cc-b085dfe05cdfElon Musk wakes up to bitcoin’s fossil fuel issues https://www.ft.com/content/b917ec4f-8b57-45dc-82ba-960d82ad7974 Hosted on Acast. See acast.com/privacy for more information.

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 intensifieshttps://www.ft.com/content/fd3abbb8-955a-46b3-bc45-9a4fb7b95265Colonial pipeline resumes operations following ransomware attackhttps://www.ft.com/content/b6ac99ea-d7c6-49dd-b7d7-1284ce2e85c0?US employers struggle to find willing workers after pandemic yearft.com/content/52ecab21-c90d-4ee7-be7f-612da5355c77 Hosted on Acast. See acast.com/privacy for more information.

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 clearshttps://www.ft.com/content/d7adb226-e9a6-4cd8-9049-35d55c211ca4US investors revolt against executive pay in record numbershttps://www.ft.com/content/50e73d21-3de5-4196-b124-7281ec7af828Covid batters India’s aspiring middle classeshttps://www.ft.com/content/28e9c827-1131-4412-bafa-5e88eb211fc4? Hosted on Acast. See acast.com/privacy for more information.

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-9a32-02824ce8bb70US tech stocks drop ahead of inflation datahttps://www.ft.com/content/9707595b-d708-4be3-917d-9ae1de04c707?Vice Media joins streaming gold rush in new bid for profitabilityhttps://www.ft.com/content/942bf107-3824-4611-b0f7-b4816d4ee2a5UK’s services sector starts to count the real cost of Brexithttps://www.ft.com/content/d0c10195-0e2e-4913-af74-3b7057163e3f? Hosted on Acast. See acast.com/privacy for more information.

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 officehttps://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 Hosted on Acast. See acast.com/privacy for more information.

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 couphttps://www.ft.com/content/ba1f8db9-e2d1-4e45-80be-1f6f6fe1344bBroad commodities price boom amplifies ‘supercycle’ talk https://www.ft.com/content/1332da37-bf45-409f-9500-2fdac344d1ddWhy we should all give up meathttps://www.ft.com/content/1293516c-c17a-4a29-b969-55b6e6849b16 Hosted on Acast. See acast.com/privacy for more information.

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 pandemichttps://www.ft.com/content/eca86f43-7127-4213-948d-3cc8d652805eIndia’s Covid surge rocks global shipping industryhttps://www.ft.com/content/cf40d764-6ab6-4638-bea6-594cc3cd5d53?Archegos prepares for insolvency as banks seek compensation for $10bn losseshttps://www.ft.com/content/8062ef53-790f-4470-99d5-265335a72334Pandemic offers Europe’s tourism industry the chance of an upgradehttps://www.ft.com/content/5f3328f4-b12e-4e5b-8dd2-bacfb73d40a6? Hosted on Acast. See acast.com/privacy for more information.

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-a7c1-13409e8f63aeWomen central bankers want action on ‘hidden barriers’ to equalityhttps://www.ft.com/content/0d1d2d4d-8bb8-42ce-b263-9863a1f377edBeers and cash among incentives used to entice the ‘vaccine hesitant”https://www.ft.com/content/138f58a1-b472-452a-9daa-db0f5c885079 Hosted on Acast. See acast.com/privacy for more information.

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 $5bnhttps://www.ft.com/content/ef0992ec-1d4f-4030-95a9-d950e47338e1Cash-rich US banks move to reduce corporate depositshttps://www.ft.com/content/a5e165f7-a524-4b5b-9939-de689b6a1687A reckoning for Spacs: will regulators deflate the boom?https://www.ft.com/content/99de2333-e53a-4084-8780-2ba9766c70b7? Hosted on Acast. See acast.com/privacy for more information.

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-aa52-752c74e2d34dWhy some tribes want to keep a controversial US pipeline openhttps://www.ft.com/content/7950dc72-2cf9-4960-9d28-7109ab7d4b85Serbs fret over environmental costs of Chinese investmenthttps://www.ft.com/content/b6b7bce4-f970-4eb6-ab26-0fadc552d148 Hosted on Acast. See acast.com/privacy for more information.

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 onlinehttps://www.ft.com/content/a2b05040-3164-46f3-8bd5-399e6214ea74Apple: supercharged iPhone sales signpost $3tn valuationhttps://www.ft.com/content/eee8bca7-e7fb-4506-a0e2-579fa707de81US embarks on first national child allowance experimenthttps://www.ft.com/content/cc2a0d8c-123e-4d36-b01a-55cd8a23a166Regulators to examine crypto exchange Binance’s foray into equitieshttps://www.ft.com/content/cfbd084f-a118-4090-8301-2e45eceac304 Hosted on Acast. See acast.com/privacy for more information.

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 recoveryhttps://www.ft.com/content/296ae4e6-5e4e-44fc-8636-67e2ad38eee4Brussels vows to apply tough rules to recovery spendinghttps://www.ft.com/content/1b345e2a-e442-42df-b9ae-4e0bfe68dcbe?Credit Suisse: plotting a comeback after ‘costly mistakes’ took it to the brinkhttps://www.ft.com/content/2cac83f5-9631-45ae-8080-586a6bc90d55 Hosted on Acast. See acast.com/privacy for more information.

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 recordhttps://www.ft.com/content/c686458c-e544-4c50-990d-954b91d955edGlobal IPOs run at fastest pace since 1995https://www.ft.com/content/857c1286-d35e-404a-ae7c-8d04b7508810‘We are drowning in insecurity’: young people and life after the pandemichttps://www.ft.com/content/77d586cc-4f3f-4701-a104-d09136c93d44All 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 conversationRegister free today at newdeal.live.ft.com. Hosted on Acast. See acast.com/privacy for more information.

The US will share up to 60m doses of AstraZeneca’s Covid-19 vaccine with other countries, and Total has declared force majeure on its multibillion-dollar LNG development in Mozambique. Plus, the FT’s consumer industries reporter, Patricia Nilsson, talks about the celebrity and sex worker subscription site, OnlyFans, which has exploded in popularity over the past year. This episode features the song “Savage” by Meghan Thee Stallion, featuring Beyoncé. The song is licensed to 300 Entertainment. US plans to share 60m doses of AstraZeneca’s Covid vaccine https://www.ft.com/content/db461dd7-b132-4f08-a94e-b23a6764bdb3Total declares force majeure on $20bn LNG project in Mozambiquehttps://www.ft.com/content/841a63a7-e89a-45c8-b6b3-22b50e59b14cOnlyFans feels the lockdown love as transactions hit £1.7bnhttps://www.ft.com/content/6d4562f8-166f-4a89-a3cb-db97123a6cf0Asahi shifts to no-alcohol beer after $20bn M&A splurge https://www.ft.com/content/abe2c9cb-c573-41bd-8ac1-42cf653fb3e5? Hosted on Acast. See acast.com/privacy for more information.

Chinese companies have raised a record $11bn on the New York Stock Exchange and Nasdaq this year, vaccine makers have warned about the risks of giving up patent rights to their Covid-19 vaccines, the White House is expected to greenlight a wind power project off the Massachusetts coast. And Germany’s Green Party has a leader who symbolizes the image of a party that is riding a wave of popularity and could be swept into government this September.  China stock sales in US surge to record despite delisting threat Vaccine makers say IP waiver could hand technology to China and Russia US offshore wind projects test strength of Joe Biden’s green jobs promise Germany’s ‘muesli eaters’ show new hunger for power Hosted on Acast. See acast.com/privacy for more information.

Joe Biden plans to announce a set of tax increases on the wealthiest Americans, and there has been a rally in the price of lumber due to demand from the housing market. Plus, the FT’s data journalist, Christine Zhang, explains how statistics can fail Asian American communities.Biden prepares to announce string of tax rises for richest Americanshttps://www.ft.com/content/a43d966e-b7d9-4ee1-bb77-2a6561dfda12Lumber party: economic bounce fuels US wood price rallyhttps://www.ft.com/content/202dada4-b188-4112-9689-6fec2924efb0The data invisibility of Asian Americanshttps://www.ft.com/content/119b6ffb-bc5e-4632-bc0a-199be9cfb7e7 Hosted on Acast. See acast.com/privacy for more information.

US President Joe Biden is set to announce his country’s steepest ever emissions cuts, Russia plans to pull out of the International Space Station by 2025, and Turkey’s opposition is asking where US$128bn in foreign exchange reserves has gone. Plus, the FT’s Shanghai correspondent, Tom Hale, explains why the corruption at Huarong Asset Management is creating headaches for Beijing. US to propose emissions cut of up to 50% by end of decadehttps://www.ft.com/content/32f5e2cd-4689-4434-9da0-d97d46673eaf?Huarong debacle tests Beijing’s resolve to bail out state groupshttps://www.ft.com/content/2aabfd64-6527-442f-b6fb-36c3804dcfc7Russia to pull out of International Space Station in 2025https://www.ft.com/content/a1518565-e643-42ae-a650-02e9c3bdd657Turks chase missing billions in foreign exchange reserveshttps://www.ft.com/content/dee218ba-c102-4a2f-8042-e8c8601991cd? Hosted on Acast. See acast.com/privacy for more information.

A jury in Minneapolis found former police officer Derek Chauvin guilty on three charges in the killing of George Floyd, TikTok is accused of illegally collecting personal data on millions of children in the UK and Europe. Plus, the FT’s sports editor, Murad Ahmed, has the latest in the European football upheaval and the decision by leading English clubs to back out of plans for a new Super League. Leaked Super League plans reveal goal of US-style football financeshttps://www.ft.com/content/e80299a4-8012-447a-8512-c24e149304b1Defund the police: how a protest slogan triggered a policy debatehttps://www.ft.com/content/76a8080c-cca9-48cd-be81-891a75676adfTikTok sued on behalf of millions of European children over data concernshttps://www.ft.com/content/02bb235f-f6f3-42be-a921-bc2c86b86271? Hosted on Acast. See acast.com/privacy for more information.

The concerns that led to a halt in Johnson & Johnson’s Covid vaccine rollout could damage confidence in the company’s longer-term vaccines programme, and Apple will allow the social media app Parler to return to its app store. Plus, Miguel Diaz-Canel has been confirmed as the new head of Cuba’s Communist party. The FT’s Latin America editor, Michael Stott, discusses the island’s future in the post-Castro era. Johnson & Johnson’s Covid setback risks damaging its vaccine programmehttps://www.ft.com/content/0d085dde-cc02-4bad-8bbb-e2ad498e1ebf?Apple says Parler can return to App Storehttps://www.ft.com/content/98c83613-18e9-427d-b41c-76176dcedf94?Exit of Cuba’s last Castro brings curtain down on revolutionary erahttps://www.ft.com/content/ac9e2bb1-2830-400e-921d-470f1f6f45e8?UK regulator gives green light to delivery drone trials https://www.ft.com/content/66487d88-a6b3-4e46-9b8a-00e38e93d3af? Hosted on Acast. See acast.com/privacy for more information.

Consumers around the world have stockpiled an extra $5.4tn of savings since the coronavirus pandemic began, and many of Europe’s wealthiest football clubs have agreed to join a breakaway “Super League” competition. Plus, the FT’s Lex columnist Elaine Moore discusses whether the audio chat app, Clubhouse, has staying power. Global savers’ $5.4tn stockpile offers hope for post-Covid spendinghttps://www.ft.com/content/8cbfe40d-1ce1-4dc6-bcb2-1314b77b9443?Top European football clubs sign up to breakaway Super Leaguehttps://www.ft.com/content/4cbef20a-7599-4580-82aa-2af383bd0f5aReach for the stars: what Clubhouse can learn from TikTokhttps://www.ft.com/content/84b3879b-f3bb-4138-a688-e3ed4179d45bHSBC top brass forced to hot desk as HQ scraps executive floorhttps://www.ft.com/content/4984410c-e6fe-41d6-9d66-67ee54188f38? Hosted on Acast. See acast.com/privacy for more information.

Global equities reached new heights and Treasuries rallied sharply on Thursday on the back of upbeat economic data in the US, and Dubai has become the first city to sign a contract with an autonomous taxi manufacturer. Plus, US president Joe Biden imposed new sanctions on Moscow on Thursday. The FT’s markets editor, Katie Martin, explains how investors reacted. Global stocks hit record highs on strong economic datahttps://www.ft.com/content/c1ee361d-6ee6-4697-ba8a-865542bb4704Biden imposes tough new sanctions on Moscowhttps://www.ft.com/content/b2bf1be3-a10c-4963-9deb-8a6b319e9363Dubai strikes deal with Cruise to roll out self-driving taxishttps://www.ft.com/content/33f3f86b-2558-4344-98b0-5c3cd529e93fFlying cars finally prepare for take-offhttps://www.ft.com/content/3ca1338d-3c31-4c70-ac09-12a0870212e3? Hosted on Acast. See acast.com/privacy for more information.

Three of the largest US banks beat profits expectations on Wednesday on the back of a strengthening US economy, and Egyptian authorities have seized the container ship that blocked the Suez Canal as they seek compensation of more than $900m from the Ever Given’s owners. Plus, the FT’s deputy editor, Patrick Jenkins, discusses Deutsche Bank’s turnaround after years as the “sick bank of Europe.” Boom on Wall Street powers US bank profitshttps://www.ft.com/content/5cc8f198-345f-4a21-997f-acc841c7b39bDeutsche Bank dodges bullets and goes mainstreamhttps://www.ft.com/content/0c478d11-6ed2-4c68-870d-3d0e97f76745?Ever Given seized as Egyptian authorities seek $900m compensationhttps://www.ft.com/content/25b347bc-4c03-464a-b6c3-ed72bacc12e2?Ponzi mastermind Bernard Madoff dies aged 82https://www.ft.com/content/e88fdde2-440a-4a77-8a20-d2116309d84a Hosted on Acast. See acast.com/privacy for more information.

Coinbase prepares to be the first leading cryptocurrency exchange to list on a US stock market, and the eurozone economy is showing signs of adapting to coronavirus lockdowns. Plus, the FT’s private capital correspondent, Kaye Wiggins, discusses the corporate drama surrounding the private equity bidding for Japan’s Toshiba. Coinbase listing set to capitalise on crypto bull runhttps://www.ft.com/content/06d98c02-f5da-45e8-a0f5-20e3bfd64879Eurozone’s economy shows signs of adapting to lockdownshttps://www.ft.com/content/b756bab9-43a7-49c6-a3de-c98e891a0aea?Resignation of Nobuaki Kurumatani comes as KKR also prepares to mount offer for Japanese conglomeratehttps://www.ft.com/content/65a3b3b0-c68e-4312-a29b-d0b90d8cf011LVMH benefits from demand for luxury goods in US and Chinahttps://www.ft.com/content/9c892b85-9ae2-4ef9-8e42-9a09baf3492b Hosted on Acast. See acast.com/privacy for more information.

Boris Johnson has commissioned an independent inquiry into the lobbying scandal involving David Cameron and Greensill Capital, and the $5bn-valued cyber security technology company, Darktrace, has set out plans to float in London. Plus, the FT’s US sports business correspondent, Sara Germano, explains why US states have suddenly embraced online sports gambling. UK government to announce independent probe into Cameron and Greensillhttps://www.ft.com/content/ade87a61-b1e1-433a-a79f-25fc6b9a0aafMike Lynch-backed Darktrace sets out plans to list in Londonhttps://www.ft.com/content/01c49998-05d2-4ed4-b324-febfaef3a110‘The market is going bananas’: Governors back online betting to plug black holes in state budgetshttps://www.ft.com/content/bb04b14c-e215-4ae8-a655-2bf85fcb73c0?Virgin Atlantic boss warns on long-term hit to business travelhttps://www.ft.com/content/b8766e60-1a20-41ee-871d-6b97dbee71e8 Hosted on Acast. See acast.com/privacy for more information.

Former British prime minister David Cameron has admitted he made mistakes over his government lobbying for Greensill Capital, leading Chinese smartphone maker Xiaomi is expanding its investment in chips, and Microsoft is on the verge of acquiring the voice technology pioneer, Nuance. Plus, the FT’s US equities correspondent, Aziza Kasumov, discusses US equities investors’ concerns about US president Joe Biden’s tax proposals. Cameron admits mistakes as he breaks silence on Greensillhttps://www.ft.com/content/da2a2686-1efa-4fd4-bee4-79cc9d9a89a2Huawei rival Xiaomi steps up chip ambitions amid US pressurehttps://www.ft.com/content/2fadf021-91c5-4553-aecd-33e4439e99ab?Wall Street investors look warily at gathering tax ‘storm’https://www.ft.com/content/02f874f8-f5e3-4deb-908c-c709633821bbMicrosoft nears deal to buy voice tech pioneer Nuance for $16bnhttps://www.ft.com/content/a36dd469-e521-4ce7-9351-ddc8f6b5cb42? Hosted on Acast. See acast.com/privacy for more information.

Amazon looked on course to defeat a historic effort by workers to unionise an Alabama warehouse, and companies and countries around the world are weighing the Biden administration’s global corporate tax plan. Plus, the FT’s markets editor, Katie Martin, explains Goldman Sachs’ purchase of £75m of Deliveroo shares after the UK food delivery group’s disappointing initial public offering last month.  Amazon vote count shows Alabama unionisation effort trailinghttps://www.ft.com/content/df3eeb04-d03e-4048-ab81-248c7a9fce4eGoldman Sachs bought £75m of Deliveroo shares to prop up IPO pricehttps://www.ft.com/content/bf75f260-33d8-42ea-85c3-6482aa1fb2ffA grand bargain: how the radical US corporate tax plan would workhttps://www.ft.com/content/b358ebca-4097-4cd6-bc7f-8e9d8f069250 Hosted on Acast. See acast.com/privacy for more information.

The start-up that owns the biotechnology behind the Oxford/AstraZeneca vaccine has confidentially filed for an initial public offering in the US, Indian social media group ShareChat has raised more than $500m to grow its popular short-video app Moj, and Austrian activist Max Schrems has filed a privacy complaint against Google in France. Plus, the FT’s Washington bureau chief James Politi has details on the US’s offer to the rest of the world to tax multinational companies. US offers new plan in global corporate tax talkshttps://www.ft.com/content/847c5f77-f0af-4787-8c8e-070ac6a7c74fBiotech start-up behind AstraZeneca vaccine files for US listing https://www.ft.com/content/ff260c57-66f9-474b-9643-7640dc918009ShareChat valued at $2bn in wake of TikTok ban https://www.ft.com/content/3a5e44e2-b2c0-4f37-9c4a-f51c6ef46eb6?Max Schrems accuses Google of illegally tracking Android users https://www.ft.com/content/4617cc99-3ed2-49e1-b97f-db4f1b45b5db? Hosted on Acast. See acast.com/privacy for more information.

The EU drug regulator will launch an investigation next week into whether clinical trials of Russia’s Sputnik V Covid-19 vaccine contravened ethical standards, and Japan’s national champion, Renesas Electronics, is being forced to diversify due to the pressures brought on by the chip industry. Plus, the FT’s Latin America editor, Michael Stott, explains how president Jair Bolsonaro lost his grip of Brazil. EU regulator to probe ethical standards of Sputnik vaccine trialshttps://www.ft.com/content/50031165-1f46-446b-be9a-36d553805fec?Chip industry pressures spur Renesas to diversifyhttps://www.ft.com/content/c583fe71-4556-4ef9-9367-a175a2033767Brazil’s coronavirus nightmare: ‘Bolsonaro is more isolated than ever’https://www.ft.com/content/55713895-2423-4259-a222-f778f9587490Nematodes the latest casualty of post-Brexit trade glitcheshttps://www.ft.com/content/888658ea-9b33-454e-bac5-c9d4a59eb201? Hosted on Acast. See acast.com/privacy for more information.

US Treasury secretary Janet Yellen is calling on other countries to join the US in setting a corporate global minimum tax, and bond investors who took big risks at the outset of the pandemic are enjoying big returns. Plus, the FT’s greater China correspondent, Kathrin Hille, discusses how a little-known chip company that dominates the global semiconductor industry is navigating political tensions.  Yellen calls for global minimum corporate taxhttps://www.ft.com/content/79023ff2-c629-429c-8a34-16bf68b4ea15Investors scoop up huge returns from companies’ crisis-era bondshttps://www.ft.com/content/2de01274-bf03-4788-ab94-c26189b9baea?TSMC: how a Taiwanese chipmaker became a linchpin of the global economyhttps://www.ft.com/content/05206915-fd73-4a3a-92a5-6760ce965bd9GameStop shares fall after it announces plan to sell $1bn in stockhttps://www.ft.com/content/ddc11198-f162-484c-9131-a7a0b0346178? Hosted on Acast. See acast.com/privacy for more information.