Iran's president-elect, Masoud Pezeshkian, discusses his plans for reform in Iran amidst challenges. Topics include US investment banking, Russian missile attack in Ukraine, and Shein's fashion waste initiative.
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Quick takeaways
Investment banking in the US is rebounding with increased activity in debt deals, mergers, and equity markets.
Iran's election of Masoud Pezeshkian as a pro-reform president indicates a potential shift in policies.
Deep dives
Investment Banking Activity in the US
Investment banking activity in the US is showing promising signs of recovery after a period of sluggishness. Factors such as an increase in debt deals, mergers, and equity capital markets activity indicate a bounce-back in this sector. The stabilization of interest rates is facilitating easier agreements on company valuations, contributing to the positive outlook for US banks. Executives are optimistic about the resurgence in investment banking activities and anticipate favorable results in the upcoming earnings reports.
Election of a Pro-Reform President in Iran
Iranians have elected Masoud Pazeshkian as the first pro-reform president in two decades, signaling a potential shift in the country's domestic and foreign policies. Pazeshkian's background as a doctor and his involvement in previous governmental roles highlight his commitment to public service. His campaign promises include ending restrictions on social platforms and re-engaging with Western countries to alleviate US sanctions. Despite these pledges, challenges from hardliners within Iran raise questions about the extent of Pazeshkian's ability to enact significant changes.
A Russian missile that destroyed a children’s hospital in Kyiv used western technology, investment banking is picking back up, and Shein is injecting €200mn in cash to tackle fashion waste. Plus, the FT’s Najmeh Bozorgmehr explains if Iran’s new pro-reform president can make a difference.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Michela Tindera, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. 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.