FT News Briefing

The head of the FDA faces backlash over a controversial Alzheimer's drug approval. A Covid outbreak at a Chinese port is worsening shipping disruptions globally. A landmark Supreme Court ruling has transformed the landscape for student-athletes, dismantling NCAA restrictions on education-related benefits. As the Tokyo Olympics approaches, plans to limit spectators to 10,000 raise financial and political concerns. These issues highlight the evolving dynamics in sports and healthcare amidst ongoing global challenges.

The podcast tackles the Federal Reserve's surprising shift on inflation and its impact on markets. It delves into the European Central Bank's plans for a digital euro, emphasizing consumer privacy and monetary control. The discussion on artificial intelligence highlights its transformative potential in healthcare and public safety, while also addressing ethical concerns and biases. Experts stress the need for diverse data in AI development to combat racism and improve outcomes, showcasing both the promise and challenges of this evolving technology.

Investors are showing a shrinking premium for corporate debt, reflecting changing market dynamics. Tensions rise between Hong Kong and Taiwan, threatening crucial trade ties. The recognition of Juneteenth by corporations has sparked skepticism among Black Americans, who question the sincerity behind these gestures. Many feel it’s more about public relations than genuine commitment to equity. The discussion highlights the contrast between the swift acknowledgment of Juneteenth and the slow progression on systemic voting rights.

Federal Reserve officials are gearing up to raise interest rates in 2023, sparking discussions about economic impacts and investment strategies. Toshiba faces a corporate governance crisis amid allegations of collusion, raising concerns for shareholder rights in Japan. Meanwhile, the appointment of Lina Khan as chair of the FTC hints at a tougher stance on antitrust issues, particularly against major tech firms. The podcast also touches on evolving viewpoints on competition and the challenges in the venture capital landscape.

Tokyo Olympics face an $800 million bailout if spectators are excluded, while a significant EU-US truce ends a long-standing aircraft subsidy war. Tim Berners-Lee, the creator of the World Wide Web, discusses auctioning the original source code as an NFT, marking a landmark moment in digital art. He emphasizes the importance of this auction in promoting data ownership and the need for internet accessibility as a fundamental human right.

The world's longest undersea electric cable between the UK and Norway is about to make waves in sustainable energy. The U.S. Federal Reserve is weighing its options as economic recovery looms, discussing potential cuts to its asset purchase program. Tensions rise as NATO issues warnings regarding China's military ambitions. Ahead of the Biden-Putin summit, the podcast delves into the strategic goals and differing perspectives surrounding this significant diplomatic meeting, highlighting the complexities of U.S.-Russia relations.

The podcast dives into the emergence of China's smart city technology, highlighting its global surveillance implications and rising privacy concerns. With nations reacting to these risks, international scrutiny is intensifying. Meanwhile, South Korea's shipbuilding sector is thriving, fueled by a global trade surge and upcoming IPOs. G7 leaders are pushing for a greener alternative to China's Belt and Road Initiative, sparking varied responses from climate advocates ahead of COP26. It's a fascinating look at technology and geopolitics in today's world.

G7 leaders are stepping up to combat vaccine inequity with a pledge to deliver 1 billion COVID-19 doses to impoverished nations. Meanwhile, the push for a global taxation deal reveals the complex interplay of international negotiations, especially amid rising inflation. Investors are starting to feel less anxious about inflation's impact, while regulators call for stricter capital rules for cryptocurrencies. In the retail world, the iconic Selfridges department store is on the market with a staggering £4 billion price tag.

Today’s discussion reveals the hidden costs of zero commission trading, exposing how brokers benefit financially while retail investors may be left in the dark. Recent inflation data could shake up the markets, and President Biden’s stance on China is set to strengthen alliances. Concerns arise over Olympic sponsors and their brand image amid the Games. The podcast also includes insights from market insiders on regulatory scrutiny in equity markets and its effects on trading practices.

Tensions rise as President Biden encounters fierce opposition from Republicans over an international tax reform plan. A massive internet outage disrupts access to countless major websites, spotlighting the fragility of digital infrastructure. Meanwhile, the FBI celebrates the successful Operation Trojan Shield, leading to the arrest of over 800 criminals on an encrypted platform. Additionally, Indian tycoons now outshine their Chinese counterparts, reshaping the landscape of wealth in Asia.