Bitcoin ETFs gain significant investments, with BlackRock and Fidelity leading the way. Challenges faced by the oil and gas industry in recruiting Gen Z workers. Changing perceptions of the industry and its impact on climate change. AI dominates discussions at the World Economic Forum.
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Quick takeaways
Poland secures EU concession to limit food exports from Ukraine due to protests and concerns over the impact on their agricultural sector.
BlackRock and Fidelity are leading the way in attracting investors to Bitcoin ETFs, while the oil and gas industry is struggling to recruit young workers due to concerns about climate change and job instability.
Deep dives
Poland Secures Concessions from EU on Limiting Food Exports from Ukraine
Farmers in Poland have been protesting and blockading the border over the influx of Ukrainian produce, which they claim is hurting their agricultural sector. The European Union has now announced new safeguards, allowing Poland to block Ukrainian imports. The proposal awaits approval from the European Parliament and member states.
Bitcoin ETFs Experience Mixed Performance
Since the launch of Bitcoin exchange-traded funds (ETFs), some funds have performed well while others, such as the Grayscale Bitcoin ETF, have experienced investors pulling out funds. The price of Bitcoin has also dropped, potentially due to the selling activity and lower-than-expected demand. BlackRock and Fidelity have seen the most inflows, while smaller firms like BitWise have shown promise. Other asset managers are exploring new cryptocurrency offerings, such as leveraged and short Bitcoin ETFs.
Oil and Gas Industry Struggles to Attract Young Workers
The oil and gas industry is facing recruitment challenges as young people are concerned about climate change and want careers aligned with their values. The industry's boom and bust cycles, along with layoff practices, have also made it less appealing. Smaller producers are struggling to recruit graduates and tradespeople, while larger companies can offer higher wages. To attract young talent, the industry is investing in scholarships and media campaigns to change perceptions. If efforts fail, it could impact future operations and benefit the energy transition.
Poland secures EU concession to limit food exports from Ukraine, Ron DeSantis ends his bid for the White House, investors turn to BlackRock and Fidelity for new crypto products, the US oil and gas industry is struggling to recruit Gen Z workers, and AI dominates Davos.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Josh Gabert-Doyon, Zach St. Louis, 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.