Is the Economy Good, or Is It Bad?

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The decline in online ads is one thing, and that sort of relates to a weakness in the US consumer. But Meta slash Facebook also has the issue that Mark Zuckerberg is still spending an absolute ton of cash on the Metaverse. We need to pay attention to what these stocks are doing, and it's not looking great," he says.

Big tech companies lost nearly $1tn in valuation this week, Credit Suisse announced a radical restructuring plan, and expats at KPMG’s Saudi Arabia office are blowing the whistle on working conditions there.

Mentioned in this podcast:

Brutal week for Big Tech with $1tn wiped off valuations

Amazon shares plummet after dismal sales forecast

‘Radical surgery’: Will Credit Suisse’s gamble pay off?

The plight of expat workers at KPMG Saudi Arabia

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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.

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