FT News Briefing

UK banks are pushing for more office attendance, while a critical shortage of accountants is causing significant challenges in the U.S. Enrollment in accounting programs is dwindling due to strict certification requirements and retirements. In Brazil, former president Jair Bolsonaro faces scrutiny over luxury gifts received in office, despite maintaining his popularity. Additionally, the case of a controversial Russian banker seeking asylum adds an intriguing layer to international banking discussions.

Investigative reporter Dan McCrum dives into his latest findings about India's Adani Group, revealing hidden investors linked to the family through shell companies. He discusses alarming implications of potential market manipulation and regulatory compliance issues. The conversation also touches on the broader economic landscape, where global growth is anticipated to slow, while more American mothers are re-entering the workforce amid changing job dynamics. McCrum's insights shed light on the intricate web of finance and politics surrounding Adani.

UBS has shattered records with a staggering $29 billion profit from acquiring Credit Suisse, but faces challenges in cultural integration and client retention. Meanwhile, eurozone inflation shows signs of stagnation at 5.3%, putting pressure on the European Central Bank as critical decisions loom. Switzerland is ramping up efforts against money laundering with new legislation aimed at increasing transparency, despite concerns about compliance oversight. The podcast also touches on Taiwan's political dynamics and how they relate to regional stability.

Military coups are on the rise in Central Africa, with Gabon being the latest nation to experience a power grab following controversial elections. Meanwhile, the U.S. Commerce Secretary's recent visit to China aims to ease business tensions while securing economic ties. In Taiwan, tech billionaire Terry Gou has thrown his hat into the presidential ring, stirring the political pot amid complex relationships with China. These developments highlight a shifting landscape in global politics and economics.

The EU faces a conundrum as it imports record volumes of liquefied natural gas from Russia, despite efforts to quit fossil fuels. Belgium and Spain play crucial roles in altering the energy landscape, revealing economic dependencies. Meanwhile, a significant court ruling allows Grayscale to launch a bitcoin ETF, shaking up financial markets. In the backdrop, Goldman Sachs utilizes Chinese state funds to acquire American and British firms, raising questions about regulatory responses and job impacts amid soaring economic tensions.

Goldman Sachs is pulling back from consumer banking, shaking up the financial landscape. In Brazil, President Lula is forming an unexpected alliance with right-wing parties to push his agenda forward. Meanwhile, the European defense industry grapples with rising ammunition demands fueled by the Ukraine conflict. Additionally, talks are brewing about EU expansion, with a proposed target date set for 2030. El Niño's looming presence also threatens global food prices, adding another layer of complexity to the current geopolitical climate.

Chinese corporate earnings are expected to fall as economic slowdowns take their toll. Policymakers have realized the need for a new approach after a pivotal meeting in Jackson Hole. Meanwhile, Ireland's life sciences sector remains robust despite potential tax changes, showcasing its unique advantages. The conversation also touches on the geopolitical landscape and inflation challenges shaping the economic backdrop. Additionally, tensions arise in Spain's football sphere, as corporate sponsors pull support over a controversial incident.

Vladimir Putin confirms the death of Yevgeny Prigozhin, sparking discussions about the future of Russian political dynamics. The BRICS group invites six new countries, expanding its influence in the global economy. Meanwhile, Turkey raises interest rates significantly to combat soaring inflation. Additionally, there's growing scrutiny on the biomedical industry's reliance on horseshoe crabs for testing, leading to calls for synthetic alternatives to protect these creatures.

Yevgeny Prigozhin's presumed death in a plane crash raises questions about the future of the Wagner group and Russia's military dynamics. NVIDIA experiences a massive revenue surge due to AI demand, leaving Wall Street impressed. Meanwhile, U.S. regulators are tightening rules on private fund disclosures, posing challenges for the industry. In Thailand, political upheaval unfolds as former PM Thaksin Shinawatra faces jail time, and discontent brews within the newly-opposition Move Forward party amid ongoing economic struggles.

Central bankers are poised to make important announcements at the Jackson Hole symposium, with all eyes on Federal Reserve Chair Jerome Powell. Global stock markets face a rocky month, losing $3 trillion in value. There's uncertainty surrounding U.S. growth as interest rates rise, while China's cautious monetary policy raises questions about its $56 trillion banking system. The podcast also touches on the political landscape, including Trump's plans for the upcoming GOP primary debates.