FT News Briefing

The recovery of $2.3 million from Colonial Pipeline hackers sparks intrigue. Biogen’s Alzheimer’s treatment gains FDA approval, stirring both hope and controversy. Meanwhile, Abu Dhabi embarks on a bold cultural investment plan to diversify from oil, aiming to foster a creative economy. This strategic pivot not only aims to reduce dependence on fossil fuels but also positions Abu Dhabi alongside global creative hubs. Additionally, the political shake-up in Mexico adds another layer of complexity to the region's dynamics.

Global chip shortages could persist until mid-2022, impacting multiple industries. In a significant move, the G7 nations have agreed on a historic minimum corporate tax for multinationals. Meanwhile, China's efforts to stabilize its currency raise eyebrows. The spotlight then shifts to cryptocurrency startups, particularly Uniswap, which are set to revolutionize finance through decentralized platforms. The challenges these businesses face against traditional finance and regulatory hurdles are also examined, revealing a tumultuous yet thrilling landscape ahead.

Americans are facing new investment restrictions targeting Chinese defense firms. Job growth in the U.S. appears to be rebounding, signaling potential easing of labor shortages. Experts are debating whether the current rise in prices indicates a fleeting spike or a longer-term inflation issue. The podcast dives into historical inflation responses and the evolving strategies for managing rising prices, including interest rate hikes. Plus, there's buzz about United Airlines aiming to bring back supersonic flights after nearly two decades.

AMC's quirky strategy of enticing retail investors with free popcorn led to a meteoric rise in its stock, pausing trading briefly. Meanwhile, the podcast discusses the alarming increase in ransomware attacks and their impact on the insurance market. Naomi Osaka's stand against traditional media coverage is reshaping athlete-media dynamics, highlighting a shift in power as athletes demand better representation. Additionally, there's an exploration of how Ghana aims to prosper through chocolate exports, blending finance, sports, and social change.

A high-profile lawsuit against Leon Black adds to the intrigue in recent news. Oil prices soar as Opec continues its cautious supply increase, impacting global markets. In Germany, the Green Party faces challenges ahead of elections, balancing internal divisions with public expectations. Meanwhile, Djibouti aims to position itself as Africa’s logistical powerhouse, drawing inspiration from Singapore's success. Its strategic location and booming economy highlight the complexities of international dynamics in this ambitious pursuit.

Pet ownership exploded during the pandemic, boosting a pet insurance company to a $2 billion valuation. Meanwhile, a director from the Final Fantasy franchise predicts that 5G technology could shake up the gaming console market. In Taiwan, strict new lockdowns are being implemented to combat a significant COVID-19 outbreak, impacting daily life and chip manufacturers. As Taiwan grapples with these challenges, it shows remarkable economic resilience, especially in its robust tech sector.

American retailers scramble to stock up for the holiday season amidst high demand. Meanwhile, US financial regulators are poised to tighten their grip on the rapidly expanding cryptocurrency market. Tensions rise as Russia supports Belarus with a $500 million loan while facing sanctions. A thought-provoking analysis suggests Bitcoin might be better viewed as an equity call option rather than a stable currency, highlighting its volatility and intrinsic value in the evolving financial landscape.

The collapse of Archegos Capital has sent shockwaves through the SPAC market, prompting a revaluation of hedge fund leverage. Meanwhile, activist investors have successfully challenged ExxonMobil, calling for reduced oil production. In Europe, investor enthusiasm is surging for equity markets like the MSCI EMU Index, fueled by strengthening economic conditions and vaccine progress. In contrast, the US stock market faces stagnation and inflation worries, shifting focus from tech stocks to value sectors.

Big oil faces unprecedented challenges as activist shareholders and landmark court rulings pressure companies like Shell to drastically cut emissions. A historic vote at ExxonMobil hints at a shift towards greener practices in the oil sector. Meanwhile, the industry grapples with declining demand for oil, exacerbated by a new International Energy Agency report. On the tech front, Amazon's acquisition of MGM could reshape Hollywood, while Tesla takes bold steps to alleviate the chip shortage caused by global supply issues.

England's NHS plans to share patient data, stirring privacy concerns among activists. Meanwhile, U.S. companies have a hefty $28 million in unspent political donations following shifts in donor behavior post-Capitol riot. The discussion deepens with insights on oil-dependent nations facing urgent economic reforms as the world moves away from fossil fuels. The necessity for wealthier countries to support these transitions underscores the complex interplay between energy policies, global geopolitics, and emerging migration trends.