Global economy set to slow in 2024, Hollywood strikes impact California economy, Adani Group investigation reveals hidden investors, increasing number of mothers re-entering the workforce, disproportionate effects of COVID-19 on women, challenges faced by women in the job market
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Quick takeaways
Global growth is expected to slow next year due to inflation and economic challenges in manufacturing and exports.
An investigation revealed hidden shareholders in Adani Group, raising concerns about market manipulation and Indian financial regulation.
Deep dives
Global growth expected to slow next year
Global growth has exceeded expectations this year, thanks to strong labor markets and consumer demand, especially in the US. However, new forecasts predict a slowdown in growth next year. Economists anticipate that high demand will keep inflation elevated, resulting in the need for higher interest rates. In the UK, Eurozone, and China, challenges persist in manufacturing, exports, and overall economic performance.
Investigation reveals potentially controversial shareholders in Adani Group
An investigation by the Financial Times uncovered two of the largest shareholders in the Indian industrial conglomerate Adani. These shareholders were linked to the Adani family and had been hidden behind layers of shell companies. The revelation prompted questions about possible market manipulation and whether Indian regulations on public share ownership were violated. An earlier report by Hindenburg had accused the Adani Group of fraud, and while Adani denied both reports, the revelations raise concerns about the confidence of international investors and the efficacy of Indian financial regulation.
Global growth is set to slow next year after outperforming economists’ expectations so far in 2023, American mothers are re-entering the workforce at high rates, and the Hollywood strikes are starting to bite into California’s economy. Plus, the FT’s Dan McCrum unpacks his latest investigation into India’s Adani Group.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. 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.