FT News Briefing British chemicals empire Ineos feels the squeeze
41 snips
Nov 14, 2025 
Ewan Healy, a corporate debt reporter at the FT, explores the mounting financial strain on Ineos, the major player in the chemicals sector, discussing its enormous debt and pressures from cheap imports and high energy costs. Meanwhile, Sonia Hudson, an FT reporter focusing on immigration and local issues, previews her new Bethlehem Project series, highlighting a local immigration raid's divisive impact on the community and the broader implications for US politics. Together, they tackle pressing economic and social challenges.
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Oracle's Risky AI Bet Shakes Markets
- Oracle's huge borrowing to fund AI chips and data centres has spooked investors and knocked its shares down nearly 30% in a month.
- The company expects OpenAI-related deals to generate $300bn by 2032 despite the market scepticism.
Debt Amplifies Ineos' Sector Weakness
- Ineos faces mounting stress because a poor earnings profile collides with an over €11bn debt pile that must be serviced or refinanced.
- Credit downgrades have prompted conservative investors to sell Ineos debt, cutting bond and loan values by hundreds of millions of euros.
Europe's Chemicals Squeezed On Cost And Competition
- Europe's chemical sector is squeezed by cheaper Asian imports and higher local energy costs, eroding margins and demand.
- Those structural pressures make Ineos's high financing costs especially problematic.