FT News Briefing

Hackers behind the Colonial Pipeline attack claim they only wanted to profit, not disrupt. Meanwhile, tech stocks are feeling the heat as inflation fears rise. Vice Media dives into the streaming market in search of profitability. The UK’s service sector faces tough post-Brexit challenges, hampered by bureaucratic red tape that complicates exports to Europe. A band’s struggle to tour illustrates the real-world impact of these hurdles. Experts discuss the need for new trade agreements and diversification in services.

Emergency powers were enacted by the US government to stabilize fuel supplies after a cyberattack disrupted a vital pipeline. The banking sector faces a split on returning to the office, balancing remote work benefits with the need for collaboration. Meanwhile, a review of corporate commitments made after George Floyd's murder reveals many promises remain unfulfilled. There's also a competitive battle brewing among private equity firms for Hertz as the travel industry rebounds. This discussion highlights the challenges and complexities in both corporate diversity and economic recovery.

Katie Martin, the Markets editor at the Financial Times, discusses Angela Merkel's opposition to waiving vaccine patent rights, emphasizing the importance of production capacity. She dives into the ongoing commodity supercycle, driven by increased global demand and economic recovery. Martin explains how rising commodity prices are impacting inflation and whether these shifts suggest lasting changes. The conversation also touches on important investment trends, highlighting Norway's Telenor and their strategy in Myanmar amidst challenging circumstances.

The US backtracks on vaccine patents to boost global supply amid the pandemic, sparking debate over pharmaceutical rights. India's COVID-19 crisis severely disrupts international shipping, exposing challenges for seafarers. Meanwhile, Europe's tourism industry eyes a revival, shifting focus to attract higher-spending visitors while minimizing over-tourism. The podcast also touches on financial turmoil from the Archegos fiasco, which has upended major banks.

Treasury Secretary Janet Yellen warns that U.S. interest rates may need to rise to prevent the economy from overheating. Meanwhile, companies are getting creative with incentives like cash and free meals to boost COVID-19 vaccination rates. The discussion also highlights the lack of women in prominent roles within European central banks and the hidden barriers that hinder gender equality in finance. Personal stories from female leaders emphasize the pressing need for diversity in decision-making roles.

US banks are urging corporations to pull back on deposits due to a cash surplus, highlighting a pivotal shift in banking dynamics. Meanwhile, Apollo has acquired Yahoo's media assets for $5 billion, aiming to revitalize its revenue. The podcast also delves into the faltering SPAC market, revealing a significant drop in institutional investment and increasing regulatory scrutiny as it struggles to regain its former allure. The discussion illustrates the complex landscape of finance and investment in today's market.

A legal showdown is brewing as Epic Games takes on Apple over alleged monopolistic practices in app distribution. Meanwhile, the Dakota Access Pipeline re-emerges in court, raising environmental concerns. In Serbia, locals grapple with the benefits and drawbacks of Chinese investments, particularly regarding pollution and air quality. Activists are pushing for greater accountability from the government, igniting protests and discussions about the future of environmental activism in the region. It’s a captivating mix of corporate battles and community struggles!

Amazon reports astounding sales, eclipsing $100 billion for the second consecutive quarter, largely fueled by its cloud services. Meanwhile, Apple rides high on the success of its 5G iPhone, hinting at a $3 trillion valuation. In a bold move, the US government plans monthly child allowances to combat child poverty. However, the tech sector faces scrutiny, especially with Binance under investigation by German regulators for its stock token trading practices.

The Federal Reserve is optimistic about the U.S. economic recovery but is keeping interest rates steady. Meanwhile, Brussels is enforcing strict rules to protect its recovery fund. In the corporate world, Credit Suisse faces a leadership overhaul amid a reputational crisis, with a newly appointed chairman aiming to restore stakeholder confidence. The podcast also highlights the pressing issue of vaccine equity in India, stressing the need for global collaboration to ensure effective vaccination during the pandemic.

Google's remarkable first quarter earnings highlight a surge in advertising revenue, particularly on YouTube. Meanwhile, the global IPO market is experiencing a record pace, reminiscent of the mid-90s boom. FT columnist Sarah O’Connor discusses the pandemic's disproportionate impact on millennials and Gen Z, emphasizing their struggles in housing and job markets. The podcast also explores potential policies for better supporting young people, inviting listeners to engage and contribute their ideas for a brighter economic future.