This chapter discusses the expected rise in bad loans among major banks in the US and the legal battle involving Softbank and the failed social media app IRL, raising concerns about Softbank's due diligence process.
A pile up of bad debt threatens to sour investors’ growing optimism about the prospects for the US’s largest banks, and European football clubs are pouring money into transforming stadiums. Plus, the FT’s Joe Miller explains why another bad bet by SoftBank could be trouble for the Japanese group.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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.