The German Defense Industry Is Changing Faces

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After decades of minimizing defense spending, germany's chancellor announced a 100 billion euroe fund to modernize the military. The industry as a whole has been sidelined in germany for many decades partly for cultural reasons and because increasingy investors were not particularly interested in such companies. Colby smith: There is a trickle down effect, but it will take a little while longer. Jo Tiller: Given how public criticism of this decision was, there's almost no public criticism ofGermans' foreign policy.

As the brutality of Moscow’s invasion intensifies, the idea of targeting oil and gas exports for sanctions is no longer off the table, and Federal Reserve chair Jay Powell confirmed to US lawmakers that he is backing a quarter point rate rise later this month despite the uncertainties caused by Russia’s invasion. Plus, the FT’s Frankfurt correspondent, Joe Miller, talks about the dramatic change in Germany’s foreign and defence policy as a result of Russia’s war on Ukraine, and how that’s changed the corporate landscape.

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Powell backs quarter-point rate rise in March despite Ukraine war effects

Germany’s defence industry transformed by Scholz’s €100bn response to Ukraine crisis

Twitter Space: How the war in Ukraine is impacting the global economy

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

Read a transcript of this episode on FT.com

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