Podcast discusses new tech in nuclear energy, profits at Chinese ecommerce group, US inflation affecting interest rates, Macron's push for European defense bonds, and the impact of rising rental prices on inflation trends.
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Quick takeaways
French President Macron pushes for EU defense bonds to boost support for Ukraine and strengthen defense capabilities.
TerraPower's innovative nuclear plant aims to reduce construction costs and enhance energy security by decreasing reliance on foreign fuel sources.
Deep dives
EU Debates Defense Spending and Joint Bonds
French President Macron is pushing for the EU to issue joint European bonds to boost defense spending. This proposal aims to strengthen the EU's support for Ukraine and enhance its defense capabilities. While some EU members, like Germany, are cautious about joint debts, this plan could potentially finance the development of Europe's defense industry.
US Inflation Trends and Federal Reserve Dilemma
In the US, inflation trends have been fluctuating, with core services like rental prices contributing to the volatility. After initial expectations of rate cuts, recent inflation spikes have led to uncertainty. Fed Chair Powell's approach indicates a cautious stance, waiting for sustained progress towards 2% inflation before adjusting interest rates.
TerraPower's Advanced Nuclear Plant and Energy Independence
TerraPower, founded by Bill Gates, plans to introduce a cost-effective nuclear plant with liquid sodium cooling technology. This innovation aims to reduce construction costs and delays compared to traditional reactors. Advocates view these reactors as crucial for meeting climate goals and enhancing energy security by reducing reliance on foreign fuel sources like natural gas, especially amid increasing power demands in the US.
The west is focusing on new technology in nuclear energy to reduce reliance on Russia and carbon, and profits at Chinese ecommerce group PDD Holdings soared 146% in three months to December. Plus, price rises in services in the US are making the Federal Reserve’s decision-making over interest rates more complicated.
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.