FT News Briefing

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.

Deutsche Bank is shifting 100 bankers from London as it seeks to restructure amid Brexit challenges. Meanwhile, President Macron grapples with balancing financial stability and political pressures while the French economy begins to recover. Despite overall economic improvements, unemployment remains disproportionately high among Black Americans. The discussion highlights historical wealth disparities and explores innovative solutions like a sustainable steel initiative aimed at fostering economic equality.

The dramatic courtroom showdown between Apple and Epic Games concludes, spotlighting claims of monopolistic practices in app distribution. Investors are pushing ExxonMobil to address climate change, raising questions about corporate responsibility. AstraZeneca's CEO declares optimism for the future of the Covid-19 vaccine despite past hurdles. Meanwhile, the EU is making a bold move to exercise military influence with a substantial peace fund, stirring debate over the potential risks of intervention in conflict zones.

Financial commentator Rob Armstrong offers sizzling insights into the world of quantitative easing and its dramatic impact on stock prices. He breaks down the relationship between increased cash flow and rising market values, revealing how investor psychology plays a crucial role in shaping preferences for stocks over cash. Armstrong also touches on WeWork’s staggering financial losses and the broader implications of these shifts in the co-working landscape, while reflecting on the influence of the Federal Reserve in these turbulent times.

US companies rally to free Samsung's jailed chairman, hoping for a boost in chip production independence. Oatly's impressive $1.4bn IPO highlights its rise in the oat milk market, particularly among younger consumers. Meanwhile, the cryptocurrency market faces turbulence after regulatory warnings from China, leading to chaotic trading days and investor caution. The unpredictable nature of crypto prices, especially Bitcoin, underscores the complex dynamics at play, reminiscent of recent financial system mix-ups involving U.S. stimulus checks.

JPMorgan Chase is poised for significant change as two women rise to leadership roles amid Jamie Dimon's potential succession. The Eurozone shows promising signs of economic recovery, marked by job growth and increased travel. Meanwhile, Foxconn is making waves by transitioning to the automotive industry, raising questions about the future of tech in transportation. Additionally, Google’s new AI skincare tool offers an innovative approach to self-diagnosing skin issues, blending technology with personal care.

President Biden has expressed support for a ceasefire in the ongoing Israel-Gaza conflict, signaling a shift in U.S. foreign policy. Meanwhile, Europe grapples with diverse responses to the crisis amid rising civilian casualties. In the biotech world, Oxford Cannabinoid Technologies is preparing to go public, tapping into the cannabis medicine market. Additionally, BlackRock faces criticism for its inconsistent ESG commitments, particularly regarding investments in palm oil, highlighting the complexities of responsible investing.

The discussion dives into AT&T's potential merger with Discovery to form a massive streaming service. It highlights the alarming rise of ransomware attacks, including a targeted incident against Axa's Asian division. The spotlight shifts to the emerging realm of emotional recognition technology, which uses AI to interpret feelings from facial expressions. While the market for this innovation is booming, ethical concerns and biases pose significant challenges, sparking important debates about its appropriate use across various industries.

Airbnb reports a solid revenue bounce-back as travel preferences shift post-pandemic. Meanwhile, Netflix grapples with industry competition and the challenges of becoming a defensive player. Elon Musk stirs the crypto world by halting Tesla's Bitcoin acceptance, citing the environmental toll of cryptocurrency mining. This move raises urgent discussions about energy consumption in the crypto industry and its broader implications for sustainability.