How to Tax Deep-Sea Mining

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One company is applying for the first-ever deep-sea mining license. A small Canadian startup has promised its investors that it's going to start turning a revenue by next year. The FT recently sat down with an investor who has a very long-term perspective, maybe the longest of anyone. Berkshire Hathaway Vice Chair Charlie Munger said American banks are quote, full of bad loans as property prices fall.

At least three large banks have submitted bids to buy all or parts of First Republic, the US is urging South Korea not to fill China’s semiconductor shortfalls if Beijing bans Micron chips, and Iran’s statistics authorities have kept inflation data under wraps for the last two months. Plus, mining companies are willing to go to the bottom of the ocean for rare and precious resources.

Mentioned in this podcast:

JPMorgan, Citizens and PNC submit bids for First Republic

US urges South Korea not to fill China shortfalls if Beijing bans Micron chips

Iran keeps inflation data under wraps

‘Playing with fire’: the countdown to mining the deep seas for critical minerals

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Katie McMurran, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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