FT News Briefing

Local Chinese banks get a lifeline

Jan 5, 2024

10:20

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Top gold producer fires CEO for misconduct. Untracked fishing threatens fish stocks and marine environments. Chinese provinces inject $31bn into fragile regional banks. German inflation rises to 3.8%. The podcast covers these topics and more.

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Quick takeaways

Endeavour mining fires CEO over alleged serious misconduct related to irregular payment.

Untracked fishing vessels pose a threat to fish populations, marine environments, and livelihoods.

Deep dives

Gold producer fires CEO over alleged misconduct

Endeavour mining, one of the world's top gold producers, has fired CEO Sebastian de Montesu due to alleged serious misconduct related to an irregular $5.9 million payment. This comes after a separate allegation last year about his personal conduct with employees. The board is still investigating the allegations.

Introduction

2min

Untracked Industrial Fishing Vessels: A Threat to Marine Ecosystems

2min

Overfishing, Inflation, and Chinese Regional Banks

4min

Chinese Bonds and the Health of Regional Banks

3min

One of the world’s top gold producers fired its chief executive for serious misconduct, Chinese provinces pumped a record $31bn of capital into fragile regional banks last year, and German inflation accelerated to its fastest rate for three months in December. Plus, a study shows widespread untracked fishing is hindering global efforts to protect depleted fish stocks and marine environments.

Mentioned in this podcast:

Endeavour Mining CEO dismissed for serious misconduct

Off-radar fishing threatens efforts to preserve stocks, study warns

China steps up aid for regional banks as economic risks mount

German inflation rises to 3.8% in blow to rate-cut hopes

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.

Read a transcript of this episode on FT.com

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