FT News Briefing

Netflix's shares rise unexpectedly even after losing a million subscribers, surprising analysts. Meanwhile, Chinese venture capital firms are struggling as foreign investors retreat amid rising regulatory pressures. The political landscape in Brazil heats up as former President Lula aims for a comeback, promising economic reforms to tackle poverty. His plans and the opposition's counter-strategies are shaping the nation's future amidst social challenges. It's a mix of entertainment, finance, and politics!

SoftBank has paused its IPO plans for Arm, citing political chaos in the UK. Legal victories abound as Manolo Blahnik triumphs in a two-decade trademark battle. The financial predicaments awaiting the next British prime minister are explored, highlighting post-Brexit challenges and the looming cost of living crisis. Rising inflation raises questions about the government's tax strategies and the need for transparent fiscal policies. Tune in for an engaging analysis of these current economic dynamics.

Sri Lanka is grappling with political turmoil as it prepares to elect a new leader amidst a humanitarian crisis. The opposition calls for IMF support while citizens hope for recovery after protests led to significant leadership changes. Meanwhile, the world of fintech sees a dramatic downturn, with once-thriving startups facing crashing valuations. In the U.S., migration trends are reshaping demographics and political landscapes, revealing a divided nation. Lastly, the pandemic has sparked a transformation in urban living, with shifts in the housing market and a new embrace of remote work.

Martin Wolf, a prominent economics commentator at the Financial Times, discusses the importance of being open to changing one’s mind based on new evidence, sharing insights from his evolving perspectives over the decades. Courtney Weaver, a U.S. political correspondent, highlights the 'gentle parenting' trend, detailing its principles like emotional expression without punishments. They explore modern parenting challenges, including societal pressures and the impact of social media on family dynamics, all while questioning if these new methods are feasible for today’s parents.

Political turmoil in Italy is shaking markets as Prime Minister Mario Draghi offers to resign, spooking investors and devaluing the euro. Meanwhile, dismal earnings reports from JPMorgan and Morgan Stanley cast a shadow over Wall Street. Concerns about rising U.S. interest rates are creating inflationary pressure globally, adding to the financial uncertainty. The weaker euro complicates Europe’s economy by increasing import costs and intensifying inflation. Overall, banking sector insights reveal mixed performances as banks brace for future challenges.

US inflation has surged to 9.1%, raising concerns about the Federal Reserve's interest rate strategies. Investors are wary of long-term bonds amid shifting market dynamics. Additionally, geopolitical tensions have derailed a German-Chinese satellite venture, emphasizing the clash over technological supremacy. Meanwhile, international discussions surrounding grain negotiations continue in the wake of the Russia-Ukraine conflict, showing the interconnectedness of financial policy and global stability.

President Biden's upcoming trip to the Middle East is poised to reshape relations with Saudi Arabia amidst rising oil prices. Major U.S. banks are set to report impressive earnings, thanks to higher lending rates, but worries about a looming recession linger. Meanwhile, EU officials sound the alarm over potential arms trafficking out of Ukraine, raising security concerns. Balancing border security with humanitarian needs remains a pressing challenge for governments, illustrating the complexities of the current geopolitical landscape.

The political landscape in the UK is in turmoil as Rishi Sunak and Liz Truss vie to replace Boris Johnson. Meanwhile, the recent murder of Japan's former prime minister, Shinzo Abe, brings to light influential ties between his party and the Unification Church. In Sri Lanka, the economic and political crises have dire implications, particularly for the youth, many of whom are seeking opportunities abroad. These unfolding events raise questions about governance and stability in crisis-hit nations.

Elon Musk is facing legal turbulence as he tries to bail on his $44 billion Twitter deal, amidst claims of misinformation. Meanwhile, the crypto market crash has hit black Americans particularly hard, shedding light on existing financial vulnerabilities. Many invested in cryptocurrency seeking independence, but the downturn has stirred deep concerns reminiscent of past economic crises. In another vein, Cairo's iconic houseboats are being removed in a controversial urban redevelopment that threatens the city’s cultural legacy.

Fred Studemann, the Literary Editor at the Financial Times, shares insights on summer reads across various genres, highlighting the influence of COVID-19 and BookTok trends. Raphael Abraham, the Deputy Arts Editor and film critic, presents his must-see movie list after screening 24 films at Cannes. They discuss the interplay of literature and cinema, cultural trends, and recommendations that cater to both casual and serious audiences—perfect for making the summer reading and viewing experiences unforgettable!