FT News Briefing

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.

The ongoing sell-off in US government bonds raises concerns about interest rates. Silicon Valley start-ups are hopeful that Arm's IPO could revitalize the market for initial public offerings. The geopolitical landscape is shifting, particularly with the changing dynamics between the US and China. Discussions also highlight the expanding BRICS group and the challenges of unifying diverse nations. Amid these trends, how Arm's listing may influence investor sentiment in the tech sector remains a key focus.

The global shipping industry is grappling with severe drought conditions impacting the Panama Canal, leading to increased delays and rising costs. Private equity firms are transferring ownership of companies to rival creditors as distress rates climb. Meanwhile, Iran struggles with the paradox of ultra-cheap petrol, facing unsustainable energy subsidies amid economic challenges. The conversation highlights the intersection of climate issues with international trade and the urgent need for adaptive solutions.

Mortgage rates in the U.S. have hit a staggering 21-year high. Retailers like Walmart and Target share mixed signals on consumer behavior. Meanwhile, Saudi Arabia and the UAE are aggressively acquiring Nvidia chips to boost their AI capabilities. The race to harness advanced technology comes with challenges in attracting talent and ethical concerns about AI sales to authoritarian regimes. Additionally, the underground screening of 'Barbie' in Russia sheds light on piracy issues and the complexities of media consumption.

Discover the fascinating life of Sergei Leontiev, an exiled Russian banker living in New York City. His escape from Russia unveils a tale of intrigue, personal conflict, and political challenges. The discussion highlights the stark contrasts between how he's perceived in the West versus in Russia, as well as the complexities of his ongoing legal battles. This narrative not only sheds light on Leontiev's story but also offers insights into the broader tensions between East and West in today's world.

Dive into the turmoil of China's property sector, marked by missed payments and rising fears of economic fallout. Explore the impact of lower energy costs in the UK driving a significant drop in inflation, while the UK's core inflation remains a challenge. The struggles of companies like Country Garden raise questions about the government's response and future stability in real estate. The discussion also touches on wage growth and its influence on monetary policy, revealing the complexities of managing ongoing inflation.

US stocks have hit a five-week low as concerns about bank ratings rise. China is tackling local government debts with expert help, revealing the tensions within its economy. Interestingly, the majority of clean energy investments are flowing into Republican states, highlighting a political irony. Voter awareness of the Inflation Reduction Act and the Chips Act remains low, despite their significance. The podcast also touches on innovative communication techniques for non-verbal individuals, merging technology with social progress.