FT News Briefing

Amazon is set to cut around 10,000 jobs, signaling a shift from pandemic-driven growth to a leaner structure in the tech industry. Meanwhile, Google faces a hefty $391 million privacy penalty, showcasing increased accountability in handling user data. In China, a new 16-point plan from the central bank aims to rejuvenate the struggling property sector, raising hopes for economic stability. The discussions also touch on the challenges faced by Oatly, struggling with market competition and production issues, leading to job cuts.

The fallout from FTX's collapse is causing a crisis of confidence in the cryptocurrency market, prompting exchanges to reassure anxious clients. Meanwhile, the Federal Reserve faces challenges in navigating a new phase of policy tightening amidst high interest rates. Apple's impressive profits in China come at a cost, as its heavy reliance on the region exposes the company to potential supply chain disruptions and geopolitical risks, particularly concerning Taiwan. These dynamics highlight the complex interplay between business triumphs and global tensions.

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US stocks experienced their strongest surge in over two years following a dip in inflation. The founder of a major crypto exchange publicly apologized for its collapse, revealing financial misjudgments that hurt many clients. Meanwhile, a breakaway firm from PwC is navigating the tricky waters of Western sanctions, offering services to clients with ties to Russia, raising ethical questions about their practices. These developments illustrate the ongoing challenges in both the stock market and the world of cryptocurrency.

The fallout from Binance's withdrawal from a deal with FTX raises eyebrows over cryptocurrency practices and regulatory concerns. Midterm election insights reveal mixed results, with Democrats faring better than expected despite inflation and abortion impacting voter sentiment. Trump's endorsements play a pivotal role, showcasing his clout, while the divide in Congress raises investor worries. Finally, a look at how government spending intricately ties to corporate profits during economic uncertainty.

Americans cast their votes in pivotal midterm elections while Binance steps in to rescue FTX amidst a liquidity crisis, raising questions about the crypto market's stability. TikTok faces a challenging landscape, slashing its revenue targets by over $2 billion due to a decline in online spending. The podcast also explores TikTok's strategic shifts amid geopolitical tensions and Uzbekistan's efforts to lobby the EU for sanction relief on a notable oligarch, showcasing the complex interplay of technology and politics.

Rishi Sunak announces a potential UK-France deal on migrant crossings, signaling political progress. Concerns rise as cyber experts warn about misinformation on Twitter ahead of the US midterms. Meanwhile, South Africa grapples with a challenging transition away from coal, facing economic hurdles despite a hefty $8.5 billion climate package. The impact on coal miners' jobs and growing debt worries underline the complexities of this shift. It's a whirlwind of news that intertwines politics, environment, and technology.

The clash between the European Central Bank and UniCredit over shareholder plans and Russian ties sparks debate. TSMC faces the challenge of producing ever-smaller chips amidst geopolitical tensions. Companies are now grappling with workplace policies impacting women's health and abortion rights after recent Supreme Court decisions. As tech evolves, so do corporate responsibilities towards employee health, pushing for greater inclusivity and support in the workplace. This intersection of technology and social change is reshaping industry norms.

Explore the cutting-edge world of direct air carbon capture in Iceland, where engineers are turning CO2 into stone using renewable energy. Discover the innovative Orca facility, the largest of its kind, and the critical challenges of scaling this technology to combat climate change. The discussion also highlights hydrogen's potential as a sustainable fuel, showcasing its promise in the fight against global warming. Will these advances lead to real change or simply serve as a band-aid for polluters? Tune in for an enlightening journey into climate tech!

In this special episode of the FT News Briefing, listen to our four-part series on the US midterm elections. We go around the country to learn about some of the key issues on voters' minds, from inflation to election denialism. Think of it as your crash course for the election on November 8. Mentioned in this podcast:How abortion rights are upending the US midterm elections‘The headwinds are pretty strong’: Democrats’ midterms hopes falterDemocrats fear loss in Nevada as Hispanic voters turn to RepublicansHow Arizona became ground zero for election deniersThe FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.