FT News Briefing

Pandemic winners turned losers

May 10, 2024

10:04

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Anglo American's South African investors open to BHP offer, Nippon Steel's $14.9bn acquisition, China's Xi Jinping praises Hungary, pandemic winners lose $1.5tn market value.

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Episode notes

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Quick takeaways

South African shareholders warming up to BHP bid despite rejection, seeking sweeter deal.

Pandemic winners like Peloton and Zoom lost market value due to shifting consumer behavior.

Deep dives

Mining Industry Takeover Bid Still Alive

South African shareholders in Anglo-American are warming up to the idea of a bid from its rival BHP despite Anglo rejecting the 31 billion pound offer, seeking a sweeter deal by May 22nd. The potential acquisition, though initially undervalued, remains open for discussion, indicating the shareholders' financial interests driving the negotiations.

Introduction

2min

Challenges in Nippon Steel's Acquisition of US Steel Amid Political Controversy

2min

Analysis of Political Responses, Xi Jinping's Visit, and Pandemic Winners' Decline

4min

Reflections on Company Success Amidst Shifts in Market Conditions

3min

Anglo American’s crucial South African shareholders are open to a takeover offer from BHP, Nippon Steel has vowed to push ahead with its $14.9bn acquisition of US Steel, and China’s President Xi Jinping has hailed Hungary as one of Beijing’s most important strategic partners. Plus, most pandemic corporate winners have turned into post-pandemic losers.

Mentioned in this podcast:

Anglo American’s South Africa investors open to improved BHP bid

Nippon Steel predicts ‘calmer discussions’ with unions after US presidential election

Xi Jinping upgrades China’s ties with Hungary to ‘all-weather’ partnership

Pandemic-era winners suffer $1.5tn fall in market value

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Josh Gabert-Doyon, Mischa Frankl-Duval, Sam Giovinco, Peter Barber, Michael Lello, 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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