FT News Briefing

Moscow is reopening its markets, stirring debate among Western companies about their operations in Russia. Nestlé faces backlash for staying put, citing employee welfare amid ongoing conflict. Meanwhile, Pakistan grapples with crippling inflation and a political crisis, as Prime Minister Imran Khan's leadership is questioned. The show investigates the complex business and ethical decisions companies must navigate during geopolitical tensions, alongside the shifting dynamics of Pakistan's foreign policy as it strengthens ties with Russia.

Consumers in Russia are experiencing panic buying as prices soar and shelves empty, fueled by stringent sanctions. Germany has secured a long-term gas deal with Qatar, aiming to reduce reliance on Russian energy. Meanwhile, the EU is moving forward with new regulations targeting big tech companies, despite pushback from the industry. Additionally, a significant shortage of critical chip-making equipment is predicted, impacting the tech landscape for the next two years. These trends highlight the shifting dynamics in Europe amidst ongoing geopolitical tensions.

Natalia Antelava, editor-in-chief of Coda Story and seasoned journalist, shares her insights on Russia's sophisticated disinformation tactics in Ukraine. She discusses the Kremlin's strategic manipulation of narratives to shape public perception, emphasizing the historical context since 2014. Antelava highlights the severe repercussions of fake news on local and global understanding of conflicts, including efforts to incite division in the West. The conversation underscores the importance of recognizing and combating disinformation amidst ongoing support for Ukraine.

Amid escalating tensions, a U.S. official dampens hopes for a peaceful resolution in Ukraine, highlighting Russia's ongoing aggression. Meanwhile, JPMorgan navigates complex waters by processing crucial bond payments for Russia. The London Metal Exchange faces challenges as nickel trading experiences fresh disruptions, showcasing the far-reaching impacts of geopolitical conflicts on global markets. This turmoil not only affects the nickel sector but also ripples through oil and gas, stirring volatility in commodities trading.

The Federal Reserve raises interest rates for the first time since 2018, signaling a critical shift for the U.S. economy. European energy traders seek central bank interventions to avoid a cash crisis amid rising costs. China grapples with its loyalty to Russia, facing potential economic fallout and sanctions. This relationship creates challenges for Chinese firms navigating Western markets. The podcast highlights the urgent need for liquidity assistance as energy crises escalate, revealing the intricate ties between geopolitics and economic stability.

New sanctions by the EU and UK target Russian oligarchs, including Roman Abramovich, amidst the ongoing Ukraine conflict. However, the complexity of effectively enforcing these sanctions raises concerns. Meanwhile, oil prices decline as China’s stock markets falter due to COVID-19 uncertainties. In the legal arena, former Wirecard CEO Marcus Braun faces serious fraud charges that highlight the scandal's lasting effects on Germany's tech landscape. The intertwining of energy demands and geopolitical tensions adds another layer of intrigue.

U.S. stocks are feeling the heat ahead of the Federal Reserve meeting, with bond prices taking a dive. President Biden is making surprising moves by reaching out to Venezuela and Saudi Arabia for oil, as sanctions against Russia complicate the energy landscape. Meanwhile, a significant trial reveals stunning details about massive embezzlement linked to 1MDB. In related news, Germany is stepping up its military game with a major deal, pointing to heightened global tensions and shifting alliances.

Moscow has reportedly sought military support from Beijing for its Ukraine invasion, raising tensions. Meanwhile, Turkish drones are proving to be game-changers for Ukraine, as Ankara balances diplomatic ties with both sides. Russia's economy is facing dire consequences from sanctions, with banks pivoting towards survival amid collapsing currency and looming debt payments. The podcast delves into the impact these financial strains might have on Putin's strategies, signaling tough times ahead for both the Russian populace and its banking sector.

Ukrainian journalist Olga Tokariuk dives deep into Ukraine's evolving identity, shaped by the struggle against Russian aggression. She reflects on thirty years of independence and the profound changes since the Maidan revolution. Meanwhile, film critic Danny Leigh analyzes this year's Oscars nominees, discussing relevance and representation amid declining viewership. The conversation touches on the shifting cinematic landscape and questions whether the awards still hold cultural significance in a changing world.

The podcast dives into the overwhelming arrival of Ukrainian refugees in Poland, showcasing Polish citizens' remarkable generosity as they open their homes to those in need. Personal stories highlight the deep empathy felt within local communities. On a broader scale, rising inflation poses economic challenges globally, prompting discussions on interest rate hikes by central banks. The European Central Bank's strategic adjustments amidst the Ukraine crisis reveal the complexities of managing inflation while ensuring stability.