The Energy Crisis Is Going to Touch Every Corner of the European Economy

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Russia has gone for the first time as linked, the return of full supply of Russian gas into Europe with its demand for the West to lift its sanctions. Singapore gained fame as a haven for super wealthy Chinese families thanks in part to the movie Crazy Rich Asians. Irish data regulators have fined Instagram more than 400 million euros for failing to protect children's data. Oliver says wealthy Chinese people became frustrated with Beijing's harsh pandemic lockdowns and worry that geopolitical tensions between China and the West could be a risk factor for their global businesses.

Liz Truss will be the next UK prime minister after winning the Tory leadership race, Opec+ agreed on Monday to cut crude supply in a bid to prop up oil prices, Russia switched off Europe’s main gas pipeline until sanctions are lifted, and Singapore has become a haven for Chinese elite who are fleeing strict coronavirus lockdowns and potential blowback from geopolitical tensions.

Mentioned in this podcast:

Brussels pushes for EU-wide caps on gas price

Liz Truss to be UK prime minister after winning Tory leadership race

Opec+ agrees to cut crude supply in push to lift oil prices

Russia switches off Europe’s main gas pipeline until sanctions are lifted

Crazy Rich relocations: Singapore becomes a haven for Chinese elite

Twitter Space: Liz Truss will be UK prime minister. What should we expect?

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. 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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