FT News Briefing

Ukrainian President Zelenskyy insists that a stalemate with Russia is unacceptable, calling for more military support from allies. The podcast also explores the legal battles facing the London Metal Exchange over nickel trading issues. As midterm elections near, discussions focus on how inflation impacts the Democratic Party's narrative and strategies. Lastly, there's a look at global news updates, underscoring the importance of online safety and productivity in today’s digital environment.

Boris Johnson narrowly avoided defeat in a no-confidence vote, revealing deep divisions in his party. Meanwhile, Elon Musk threatens to walk away from his $44 billion Twitter deal amid legal complexities. The conversation dives into Big Tech’s fierce lobbying against self-preferencing regulations and highlights the ongoing tension between accountability and corporate interests. Additionally, it touches on bipartisan efforts to regulate tech giants and a significant African acquisition aimed at improving digital payment accessibility.

The European Central Bank is gearing up to address soaring borrowing costs with new bond-buying strategies. Meanwhile, U.S. investors are voicing their dissatisfaction over high executive pay, even targeting board members. The critique of 'woke capitalism' is heating up, as political figures confront businesses on social issues, complicating the landscape of ESG investing. Discussions also touch on how rising energy prices in Africa are affecting media and transportation, deepening the implications of these societal conflicts.

Kadhim Shubber, a Financial Times reporter, dives deep into the controversial world of Tether, revealing the intriguing backgrounds of its CFO, Giancarlo Devasini, and other top executives. They discuss Tether's tumultuous journey from a promising stablecoin to facing regulatory scrutiny and potential implications of a bank run. A deep comparison is made to the collapse of Terra, highlighting the risks involved in Tether’s operations. Shubber also examines the urgent need for transparency and the challenges imposed by increasing regulations in the crypto landscape.

Tina Brown, author of *The Palace Papers* and former editor of *The New Yorker*, joins historian Simon Schama for a lively discussion about the royal family's future amid the Queen's Platinum Jubilee. They delve into the challenges facing the Windsors, such as public perception and authenticity in modern society. The conversation also touches on the experiences of Harry and Meghan, the evolving views of Americans towards the monarchy, and how Prince Charles might shape its relevance for future generations.

Investors are rediscovering confidence in China's stock market after a significant sell-off. OPEC is set to ramp up oil production, influenced by U.S. pressure. Meanwhile, a thought-provoking discussion unfolds about Africa's potential to grow without fossil fuels. Can countries like Kenya, with its geothermal success, lead the charge towards renewable energy, while nations like Nigeria remain tied to oil? The podcast highlights the pressing climate change dilemmas facing Africa, emphasizing the need for global support and responsibility amid these challenges.

Western tech sanctions are turning Russian businesses into relics, crippling supply chains for essential tech like semiconductors. Meanwhile, the U.S. aims to stall Russia's progression in Ukraine while managing the risks of escalating conflict. Back in the UK, pint prices have skyrocketed post-pandemic, now exceeding eight pounds in some pubs, prompting discussions among listeners about how they've adapted their spending habits in response to inflation.

A high-profile resignation at EY reveals internal turmoil within the Big Four firm. German police step in, raiding Deutsche Bank over serious greenwashing claims. Meanwhile, Hungary's Viktor Orbán is pushing for a 'superbank' to tighten his grip on the financial sector. This move raises questions about its implications for public welfare and stability amid shifting political landscapes. The podcast also highlights growing concerns around accountability in ESG reporting, sparked by a whistleblower's revelations.

The discussion highlights Qualcomm's interest in investing in Arm, amidst tech rivals like NVIDIA and Intel. It also delves into Glencore's struggles to restore its reputation after significant bribery and market manipulation issues. A probing look reveals doubts about the sincerity of corporate diversity commitments made since George Floyd's murder. Personal stories from employees underscore ongoing challenges of microaggressions and the quest for genuine inclusivity in the workplace. The quest for change in corporate culture remains a vital topic.

Ethan Wu, an FT reporter with keen insights into the crypto world, dives deep into the intricate role of stablecoins amidst current market shifts. He discusses the challenges faced by major players like Terra and Tether and their impact on investor confidence. The conversation highlights the fragility of Tether's peg to the dollar and how market sentiment sways trading dynamics. Wu also breaks down the differences between algorithmic and asset-backed stablecoins, emphasizing the need for timely decision-making in this volatile landscape.