The Great Nickel Pickle

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Hedge fund, eliot management, is suing the l m e for more than 450 million dollars. Another wall street firm, jane street, has also filed the lawsuit. The f t neel hume lays out the likely response from the london metal exchange. It will argue that this was an unruly market and there was nothing else it could do.

Ukrainian president Volodymyr Zelenskyy said a stalemate in the war with Russia was ‘not an option’, and the London Metal Exchange has been hit by two lawsuits over the nickel short squeeze fiasco in March. Plus, the FT’s Rana Foroohar and Ed Luce talk about how Democrats and US president Joe Biden can change the narrative on the economy as midterm elections approach.

Mentioned in this podcast:

Ukraine’s Zelensky says stalemate with Russia ‘not an option’

LME hit by $450mn lawsuit from Elliott Management over nickel market chaos

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

Read a transcript of this episode on FT.com

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