FT News Briefing

U.S. stocks have plunged into bear market territory, driven by inflation and anticipated interest rate hikes. The cryptocurrency sector is in turmoil, with major players halting withdrawals amid a steep market decline. A controversial bill proposed by the British Prime Minister seeks to amend the Northern Ireland trade agreement, stirring debate. Meanwhile, a remarkable trend unfolds in Japan as hundreds of companies relocate to rural areas, aiming for a better work-life balance post-pandemic.

Join Henry Mance, a Chief features writer who explores animal sentience, and Edwin Heathcote, an architecture correspondent focused on skyscrapers. They unveil the surprising emotional complexity of pigs, reshaping our views on animal ethics in farming. Mance discusses recent research that challenges pig stereotypes and prompts deeper reflection on our treatment of livestock. Meanwhile, Heathcote reveals the rise of 'skinny scrapers' in NYC, examining how these ultra-thin towers reflect urban identity and wealth disparity.

Recent US consumer prices are on the rise, while the European Central Bank prepares for its first interest rate hike in over a decade. Inflation pressures tied to the Ukraine conflict are causing ripples across global markets. Meanwhile, China is battling skepticism about its COVID vaccines by introducing vaccine insurance to boost public confidence in vaccinations. The challenges of poor quality and transparency in Chinese vaccines further complicate trust issues, especially among the elderly population needing protection.

The chair of the SEC highlights plans to tackle issues in the U.S. equity market, aiming for greater fairness. Discussions reveal challenges faced by retail investors amidst a segmented marketplace. A new podcast explores the complex ownership structures and ethical dilemmas in the porn industry. It delves into the evolution of adult entertainment and the importance of digital safety. The episode offers a unique blend of finance and provocative topics, showcasing how diverse markets intersect in surprising ways.

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.