FT News Briefing

A US judge greenlights the FTC's case against Facebook, igniting discussions about monopoly power. Expectations rise as the latest inflation report hints at the fastest price increases in nearly 40 years. Delve into the Federal Reserve's strategy to shrink its $9 trillion balance sheet and the potential challenges of unwinding pandemic stimulus. Explore how central bank policies have distorted financial markets and consumer behavior, alongside emerging trends in upscale products and tech solutions.

The recent resignation of the Federal Reserve’s second-in-command sends ripples through financial markets. Companies are fiercely raising over $100 billion in the bond market, while Wall Street braces for record profits. In a notable shift, the U.S. is moving away from traditional drug enforcement towards harm reduction strategies. The conversation about supervised injection sites highlights the potential to save lives and the complex political landscape surrounding this reform.

Tensions rise as NATO warns Russia to change its aggressive stance, while Portugal grapples with widespread corruption ahead of elections. Investors are eagerly eyeing metaverse hardware, drawing parallels to the internet's early days, signaling a potential gold rush. The discussion highlights how this advancing technology may transform retail and create immersive virtual experiences. Amidst this, Portugal's political scene sees frustration and a shift toward new anti-corruption reforms.

Chris Grimes, FT's Los Angeles correspondent known for his sharp insights into the entertainment sector, joins to discuss Disney's vast cultural impact. They explore the leadership transition from Bob Iger to Bob Chapek, emphasizing contrasting styles and challenges in today's competitive streaming landscape. The conversation covers Disney's identity crisis, highlighting the struggle between nostalgia and modern cultural expectations. Additionally, they unpack how Disney Plus fits into the ongoing digital streaming wars and the company's reckoning with its past.

The podcast dives into the controversy surrounding the Federal Reserve's undisclosed trading activities by a senior official during the pandemic. It also covers the massive protests in Kazakhstan sparked by rising fuel costs and the challenges of autocratic governance. The discussion highlights the implications for global oil markets and Russia's role in regional stability. In the financial realm, listeners learn about market reactions to the Fed's hawkish signals and the turbulent state of bond and equity markets as interest rates rise.

Explore the shifting financial landscape as the Federal Reserve hints at aggressive rate hikes while tech stocks take a tumble. Dive into Europe's energy crisis with Germany's Uniper seeking a massive rescue amid soaring gas prices. Discover how corporate America is grappling with the aftermath of the Capitol insurrection, balancing political donations and the need for a stable democracy. Lastly, examine Hong Kong's rising food prices due to pandemic disruptions. It's a whirlwind of economic challenges and corporate accountability!

Chinese banks focus on safe investments amid economic uncertainty, reflecting concerns about growth. The EU seeks a role in negotiating with Russia over the escalating Ukraine crisis. Meanwhile, the small German city of Mainz is experiencing a financial boom, thanks to BioNTech's vaccine success, with tax revenues soaring to over a billion euros. Local leaders are working hard to ensure that this newfound wealth leads to a diversified and sustainable economy.

Elizabeth Holmes faces a guilty verdict for fraud in the Theranos scandal. Apple makes headlines as the first company to reach a staggering $3 trillion valuation. Meanwhile, President Biden tackles rising meat prices with new initiatives aimed at supporting smaller producers. Amid all this, challenges arise in measuring U.S. job growth, with the pandemic creating inconsistencies in employment data. Experts delve into the implications of these statistics on policy decisions.

The US faces an unprecedented surge in COVID-19 cases, largely driven by the Omicron variant, straining healthcare resources. Tesla defies supply chain challenges, achieving record vehicle deliveries as competition in electric vehicles heats up. Economic forecasts for 2022 reveal the ongoing impacts of the pandemic on global markets, while central banks grapple with inflation and changing interest rates. Expert insights provide a glimpse into stock market expectations amid these turbulent times.

Madhumita Murgia, FT's European technology correspondent, dives into the fascinating intersection of science fiction and technology. She discusses how the term 'metaverse' originated from the 1992 novel Snow Crash and its impact on today’s tech landscape. The conversation highlights cultural differences in AI perceptions, contrasting Western fears with the optimistic views found in Japanese media. Murgia also shares insights on China’s emerging sci-fi authors who critique surveillance capitalism, blending nostalgia with cautionary tales about our digital futures.