The US Federal Reserve increased its benchmark interest rate by a quarter of a percentage point on Wednesday, Adani Enterprises called off its $2.4bn equity fundraising, and banks that lost billions from the Archegos Capital Management meltdown will get back as little as 5 cents on the dollar. Plus, the FT’s Cristina Criddle looks at a new social media app launched by the founders of Instagram.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by 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.