FT News Briefing

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.

Salesforce surprised investors with strong earnings, leading to a stock boost amidst activist scrutiny. The company is shifting focus from growth to profitability, including layoffs and spending cuts, while adapting to market pressures and AI advancements. Meanwhile, Chinese factories are actively engaging in overseas trade efforts to revive international commerce, navigating complex geopolitical landscapes and evolving supply chain dynamics.

Goldman Sachs is shifting focus to asset management, aiming to recover from past consumer banking missteps. Meanwhile, Nigeria is grappling with controversy after its presidential election results sparked allegations of fraud, leading to calls for a rerun. In a twist of luxury, a £250 million mansion tied to the Saudi royal family is on the market, raising questions about ownership transparency amid political intrigue. These topics highlight the intertwining of finance, politics, and elite real estate.

Shell's executives contemplate a dramatic move to the U.S., which could reshape their competitive edge against rivals. A new agreement between Britain and the EU aims to resolve trading issues over Northern Ireland, but it's not without its challenges. The conversation also touches on the predictable cycles of interest rates and the market's responses, delving into the complexities investors face amidst the Federal Reserve's inflation strategies. It's a fascinating look at the intersection of geopolitics and finance.

Hiring conditions are improving for major US employers, despite a low jobless rate. The potential leadership of Ajay Banga at the World Bank raises questions about how climate initiatives will be prioritized. The Chinese spy balloon incident highlights the evolving relationship between Beijing and Washington, showcasing intensifying surveillance capabilities. As the US grapples with these challenges, the dynamics of espionage are shifting, complicating the geopolitical landscape further.