FT News Briefing China applies brakes to Africa lending
Jan 18, 2022
UK inflation is poised for a significant rise, potentially hitting a 30-year high due to energy costs and supply chain issues. Meanwhile, insights reveal how Meta plans to monetize its metaverse with precision-targeted advertising. In Africa, Chinese lenders are becoming increasingly cautious, with concerns over loan limits and potential defaults. Additionally, Scotland is making strides in renewable energy by auctioning rights for offshore wind projects, signaling a commitment to sustainable development.
AI Snips
Chapters
Transcript
Episode notes
UK Inflation Surge
- UK inflation is expected to hit a 30-year high of 5.2% in December, driven by higher energy costs and supply chain issues.
- Economists predict inflation will peak in April, prompting expectations of multiple interest rate hikes by the Bank of England this year.
Meta's Metaverse Monetization
- Meta's patent applications reveal plans to monetize the metaverse through hyper-targeted advertising based on extensive user data collection.
- This data may include eye movements, facial expressions, and other biometric information to personalize ads and virtual experiences.
China's Lending Shift in Africa
- Chinese lenders are becoming more cautious about lending to African nations due to increasing debt distress and potential defaults.
- A $200 million loan to Uganda for airport expansion exemplifies this shift, with stricter terms and conditions.