FT News Briefing

The collapse of a major U.S. bank sent shockwaves through global markets, prompting investors to seek safer options. Regional banks faced significant sell-offs, raising concerns about deposit outflows, particularly from tech-linked institutions. As tensions rise, venture capitalists are scrutinized for their roles in the panic. Government efforts to stabilize the banking system are met with ongoing anxiety from depositors. Experts reflect on whether current market reactions are justified and the broader implications of the banking crisis.

The dramatic collapse of Silicon Valley Bank has sent shockwaves through the tech industry, marking a significant regulatory crisis. The podcast examines the risky decisions that led to its downfall and the government's efforts to protect depositors without a bailout. Additionally, the rising trend of disposable vapes raises serious environmental concerns, with millions of devices contributing to electronic waste and showcasing poor recycling practices. The discussion also highlights the broader implications for stakeholders and new startups.

Delve into the world of Q-Day, the date when quantum computers could crack internet encryption. Cybersecurity expert Mark Carney reveals the implications of this revolutionary technology. Mathematician Peter Shor recounts his groundbreaking discovery that showcases quantum computing's potential. Leaders like Jack Hidary warn of immediate threats from quantum advancements, while cryptographer Dan Bernstein highlights the necessity for new math-based defenses. The discussion balances excitement for the future with concerns over current encryption vulnerabilities.

Major US banks are feeling the pinch after Silicon Valley Bank's crisis sent shares plummeting. Meanwhile, the UK and France are trying to rekindle relations in the wake of Brexit tensions. On the financial front, Mexico's peso is soaring despite economic struggles, driven by high interest rates and increased corporate investment. Lastly, a former Goldman Sachs banker faces a decade behind bars for fraud, highlighting ongoing issues within the financial sector.

EY's plans for a split are on hold due to internal disputes. Meanwhile, Xi Jinping is poised to strengthen China's financial and technological sectors amidst a fierce tech rivalry with the US. The British economy faces significant stagnation, hindered by historical crises like Brexit and the global financial crash. Experts warn that without stable governance and investment, prospects for growth remain grim. The situation in London highlights the complexities of Britain's economic challenges, revealing it’s not just what it seems on the surface.

Jay Powell warns Congress about potential interest rate hikes to combat inflation, hinting at possible financial turbulence ahead. The podcast dives into Hindenburg Research's controversial short-selling strategy against the Adani Group, revealing the complexities and challenges in the Indian market. Additionally, it highlights the stagnation of the gender pay gap in the U.S., emphasizing the need for legislative changes and increased representation to close this disparity. Corporate accountability is also scrutinized in the context of short-selling practices.

Alameda Research is suing Grayscale, claiming the high fees and redemptions have harmed FTX investors. Chinese companies are increasingly turning to Switzerland to raise capital instead of the US or UK. Meanwhile, Japan’s new central bank governor, Kazuo Ueda, hints at potential changes to the country's aggressive yield curve control, a move that could impact global bond markets significantly. As these shifts unfold, the podcast explores the intertwined challenges of legal disputes and the evolving landscape of international finance.

China is set to grow its economy by around 5% in 2023, but military spending is outpacing economic growth, signaling a shift toward security. Meanwhile, major protests in Israel reflect a deep divide over proposed judicial reforms, with around 300,000 people rallying against perceived threats to democracy. In the U.S., tensions rise as President Biden prepares to issue his first veto in opposition to anti-ESG state legislation, revealing a changing political landscape ahead of the 2024 elections.

Dive into the groundbreaking advancements of quantum computing, where traditional limits are left behind. Discover how this technology could redefine drug development and enhance internet security. The discussion reveals the urgency of understanding quantum physics and its potential to tackle climate change. Join tech journalists as they navigate the thrilling race to harness quantum power and ponder what a future dominated by such revolutionary computing might hold.

A renewed U.S. crackdown on countries aiding Russia's sanctions evasion is on the horizon. Meanwhile, major firms like CRH are shifting their listings from London to New York, raising concerns about the UK stock market's declining appeal. Discussions also highlight how rising wages could complicate central banks' battles against inflation, with the risk of a wage-price spiral looming. The podcast dives into the implications of these financial shifts and the challenges for economic policy amidst geopolitical tensions.