FT News Briefing Britain set for new prime minister
Sep 5, 2022
OPEC is considering oil supply cuts to stabilize prices amidst economic turmoil. The UK Conservative Party is set to elect a new leader, with Liz Truss promising immediate economic actions. Meanwhile, the podcast also explores the fervent beliefs surrounding cryptocurrency, likening it to a new faith. Additionally, listeners will hear about the rise of pool rentals, a quirky trend facing regulatory hurdles. These diverse topics highlight the intersection of politics, economics, and technology.
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OPEC+ Production Cut
- OPEC+ considers oil production cuts due to global economic concerns and potential oversupply.
- This comes after Biden pushed for increased production to lower gas prices.
Russia's Double Whammy
- Russia's gas supply suspension to Europe creates a challenging situation.
- Russia, part of OPEC+, might further exacerbate this by also reducing oil supply.
Truss's Popularity
- Liz Truss is favored to become the next UK Prime Minister, appealing to Conservative members with her low-tax, small-state rhetoric.
- Her loyalty to Boris Johnson contrasts with Rishi Sunak's resignation, influencing party member support.