FT News Briefing

Stripe has reached a staggering valuation of $95 billion, solidifying its position as a leading payments provider. The pandemic sparked an entrepreneurial surge, with over 4.4 million new businesses launched in the U.S. Innovations in data use during the crisis highlight how trust affects public health measures, particularly in countries like South Korea. The discussion further emphasizes the importance of navigating technological changes and creating effective frameworks to manage their societal impact.

Australia is considering a major investment in a biopharmaceutical plant to lessen its dependence on imported medicines. Meanwhile, China's Sinopharm is striving to enhance its global vaccine credibility amid challenges. Spain is leading the EU by granting gig economy workers employee rights, reflecting a significant labor shift. Additionally, the European Central Bank is accelerating its bond buying to stabilize markets amid inflation concerns, as retail investors continue to reshape market dynamics.

In this engaging discussion, Martin Wolf, Chief Economics Commentator for the Financial Times, reflects on the year since the pandemic's declaration. He analyzes the mixed responses of governments, highlighting the economic struggles faced by developing nations versus wealthier countries. Wolf also dives into the potential for recovery fueled by infrastructure investments and vaccine advancements. He emphasizes the need for equitable global vaccine distribution and a reimagined approach to citizenship, contrasting it with previous austerity measures.

President Biden's massive $1.9 trillion stimulus plan is set to boost the global economy, according to the OECD. In Europe, the pandemic is taking a toll on birth rates, raising concerns for the future. Meanwhile, Coupang's IPO faces scrutiny amidst troubling labor practices. The spotlight shines on green hydrogen as a promising alternative to fossil fuels, sparking interest in its production methods and potential for a cleaner energy landscape. The race for energy innovation continues, alongside developments in the European cannabis market.

Tech stocks are sinking, dragging Wall Street down amid inflation concerns and shifting investor focus. Meanwhile, Greensill Capital’s shocking administration filing raises alarms over defaults impacting its major client, GFG Alliance. On a brighter note, a significant merger between Apollo Global Capital and Athene Holding looks to reshape the financial landscape. This move is analyzed for its potential conflicts of interest and implications for investors, especially in light of leadership changes within Apollo.

This time, Josh Chaffin, FT's New York correspondent, shares his insights into the shifting landscape of the commercial property market post-pandemic. He discusses how banks have shown leniency towards property owners despite economic challenges. The conversation also touches on the ECB’s investigation into Greensill Capital and its connection to GFG Alliance. Additionally, the geopolitical ramifications of Biden's summit with allies to counter China are explored, along with TikTok's scrutiny of military content in Myanmar.

Jay Powell's recent remarks have sparked a notable sell-off in U.S. stocks and Treasury debt, raising concerns among investors. Meanwhile, OPEC and Russia have opted not to increase oil production, causing prices to climb. The discussion also highlights the UK's efforts to attract tech companies to its stock exchange with proposed regulatory reforms, aiming to enhance its global competitiveness. The impact of Brexit on London's financial landscape and the challenges in the Texas power market add further intrigue to the economic conversation.

Robert Smith, FT’s Capital Markets correspondent, dives into the dramatic tale of Greensill Capital, a company teetering on the edge of insolvency. He sheds light on the founder's extravagant lifestyle and ambitious mission to democratize finance. The discussion reveals Greensill's complex sales tactics that attracted major investments while hiding risks. Smith also explores the broader consequences of Greensill's collapse, emphasizing systemic risks to the supply chain finance sector and how it mirrors historical financial crises.

President Biden announces a breakthrough in vaccine distribution, aiming to have enough doses for all adults by May. Meanwhile, global carbon emissions are rising again as economies recover. The podcast delves into Ant Group's resistance to Beijing's data-sharing demands and Germany's faltering vaccination campaign, raising concerns about public skepticism toward vaccines. Additionally, it explores the emotional strain of lockdowns on families and the challenges faced by Huawei amid U.S. sanctions.

Democratic lawmakers raise alarms about the potential dangers of loosening capital requirements for US banks. ExxonMobil makes strategic board changes under pressure from activist shareholders, balancing sustainability with oil production. In a striking legal development, former French president Nicolas Sarkozy is sentenced to prison for corruption. Meanwhile, as Rupert Murdoch turns 90, insights into his expansive media empire and the quest for succession highlight the complex interplay of politics and media.