FT News Briefing

This installment highlights India's triumph at the G20 summit, showcasing its rising global influence. It discusses PwC's strategic retreat from U.S. consulting to avoid conflicts and the recent rally of Venezuelan bonds as hopes for U.S.-Venezuela diplomatic thaw grow. The complexities of potential negotiations over fair elections in Venezuela are examined, alongside the country's oil prospects and Australia's push into digital infrastructure investments. Plus, major shifts in sports governance make headlines with a scandal-driven resignation.

The G20 summit in New Delhi presents a strategic moment for President Biden to strengthen ties with India, especially with key leaders like Xi Jinping absent. Meanwhile, Germany is advocating for a delay in electric vehicle tariffs between the UK and EU, seeking positive trade relations. Huawei shows resilience despite U.S. sanctions, launching a new smartphone with innovative chip production. The tech rivalry heats up as Apple faces stock pressure amid concerns over competition from Huawei and the implications of Chinese tech developments on global markets.

The podcast dives into the surging corporate bond market as companies rush to issue debt amidst economic shifts. Listeners will learn about the EU's new regulations targeting Big Tech, mandating data sharing to enhance competition. The conversation also highlights the recent spike in uranium prices, spurred by geopolitical tensions. Lastly, it tackles Europe's severe water crisis, linking it to climate change, and discusses the implications for agriculture and the urgent need for effective water management.

The podcast delves into the recent resignation of the EU’s competition commissioner and the UK’s slow recovery from Covid-related fraud losses. It highlights Ukraine's renewed vigor in its military counteroffensive, showcasing both its challenges and strategic shifts. Experts discuss the complexities of warfare tactics and Russia's robust defenses, as well as the hope for territorial gains in the ongoing conflict. Additionally, listeners learn about the implications of new digital regulations in the EU.

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.