FT News Briefing

Dive into the creative minds of directors Daniel Kwan and Daniel Scheinert as they discuss their genre-bending film, which tackles familial communication and the concept of multiverses. Learn about Japan's pressing succession crisis in family businesses, where many heirs shy away from inheritance. The conversation also touches on innovative solutions to ensure these businesses thrive, alongside reflections on societal complexities in filmmaking and the shifting landscape of Japan's economy as younger generations reconnect with their roots.

Wall Street took a hit as the Nasdaq experienced its largest decline since 2020. Meanwhile, the Bank of England warned of an impending recession, sparking discussions about rising inflation. In the British Virgin Islands, political tensions rise as the local premier opposes direct rule from London. Governance challenges unfold, highlighting the delicate balance of reform and perceptions of colonialism. The implications of abortion denial on women's health are also examined, shedding light on broader socioeconomic impacts.

The US Federal Reserve has made waves by raising interest rates for the first time in over two decades, sparking investor optimism. Meanwhile, the European Union is pushing to ban Russian oil imports, though the impact on energy markets has been surprisingly muted. In Ukraine, Russian military progress remains limited, with a focus on the ongoing struggle in the Donbass region and a complex situation for returning refugees. The backdrop is a tense standoff as both sides prepare for prolonged conflict.

BP boasts record quarterly earnings, raising eyebrows and fueling discussions about a possible windfall tax. Meanwhile, Italy's Prime Minister Mario Draghi advocates for eliminating the EU's unanimity requirement in foreign policy, signaling a shift in governance dynamics. In the biotech world, Biogen's CEO steps down after the underwhelming launch of its Alzheimer's drug, leading to significant financial fallout. The podcast delves into these pivotal issues shaping the economy and corporate strategies.

Amazon workers in New York have hit a setback, with unionization efforts rejected at a second warehouse. Meanwhile, the U.S. Federal Reserve is preparing for its first major interest rate hike since 2000 to combat inflation. The renewable energy sector faces challenges, as Vestas reports unexpected losses linked to the war in Ukraine. Additionally, Japan is pushing for a carbon tax in the shipping industry to curb emissions, reflecting a global movement toward sustainable energy solutions.

Italy is making a bold shift in its approach to Russia, spurred by the Ukraine conflict. This transformation reflects a broader change in European foreign policy and highlights the diminishing influence of historical ties. Meanwhile, Germany is advocating for a ban on Russian oil imports, raising urgency in the EU. On another front, food companies are facing pressure to address nutrition and obesity, while green innovations in steelmaking are emerging. The intersection of health, sustainability, and geopolitical tensions is reshaping industries across Europe.

In this discussion, Josh Gabert-Doyon, a podcast producer, and Danilo Krivokapic, director of the SHARE Foundation, delve into Serbia's adoption of Chinese surveillance technology following a tragic hit-and-run incident. They explore the implications of Huawei's facial recognition systems on civil liberties and privacy. The local resistance against these technologies is highlighted, along with the broader context of China's growing influence through its Belt and Road Initiative, raising important questions about the future of governance and human rights in authoritarian regimes.

Dan Brooks, a writer known for his incisive commentary on social media, discusses how we've become adept at recognizing moral failings but struggle with personal morality. He uses everyday analogies to illustrate the complexities of ethical behavior online. Jing Tsu, a Yale professor and author, shares the fascinating journey of China's language standardization, transforming an intricate system into something usable on keyboards, which played a pivotal role in making China a tech powerhouse. Their conversation delves into morality and modern digital communication.

The U.S. dollar has hit a 20-year high, while the economy unexpectedly contracted—marking its first decline since mid-2020. Amazon is grappling with sluggish revenue growth as high costs weigh down earnings. Additionally, Twitter admits to overstating its audience figures for three years, raising questions about credibility under new ownership. The podcast also discusses how U.S. interest rate hikes impact currency strength compared to Japan's low rate strategy amid global inflation.

Tensions skyrocket as EU leaders accuse Russia of blackmail after gas supply cut-offs to Poland and Bulgaria drive prices up. Poland's determination to reduce Russian energy dependence highlights the need for EU unity. Meanwhile, the conflict in Ukraine lends urgency to Western support amidst Putin's aggressive strategy. In the streaming world, Spotify navigates its financial landscape, distancing itself from Netflix amid subscriber shifts and industry challenges. Additionally, a major management overhaul at a Swiss bank signals a fresh start after significant scandals.