The story of how a tiny, unknown hedge fund took on a giant of corporate America over climate change - and won. Charlie Penner of Engine No 1 talks about the very public proxy campaign he launched against Exxon Mobil, forcing the oil major to prepare for a future free of fossil fuels. In the third episode of our special five-part series on sustainable or ESG investing, produced in partnership with the FT’s Moral Money team, Derek Brower, US energy editor, and Attracta Mooney, the FT’s investment correspondent, reflect on whether the battle between Engine No 1 and Exxon marks the beginning of a new kind of activist investor.Engine No 1, the giant-killing hedge fund, has big plansDWS probes spark fears of greenwashing claims across investment industryCheck out stories and up-to-the-minute news from the Moral Money team here. Get 30 days of the premium Moral Money newsletter free, together with complimentary access to FT.com for the same period, visit www.ft.com/insideesgReview clips: The Sun, Channel 4 News, Euronews, PBS Newshour, GMA, CNN, CNBC, ExxonMobil Hosted on Acast. See acast.com/privacy for more information.

Read a transcript of this episode on FT.comhttps://www.ft.com/content/fca004be-9f93-4681-bdd1-931ba5c2f50fIreland has finally abandoned its cherished 12.5 per cent corporate tax rate and signed up to a minimum 15 per cent global rate that will cost the country about €2bn in lost revenues; it was a volatile week for energy markets; and stagflation has returned as a risk for investors and cast a shadow over the recovery from the Covid-19 pandemic. Plus, the FT’s deputy head of Lex, Elaine Moore, digs into the allegation that Facebook presents misleading user numbers. Stagflation risk returns for investors as gas prices surgehttps://www.ft.com/content/1e68148c-7f61-4bb4-af68-aa2c7d898111OECD close to final global compact on corporate taxhttps://www.ft.com/content/3e3e6a7d-67d5-437d-a7b2-29c52ce9c78fIreland signs up to global corporate tax dealhttps://www.ft.com/content/2a2f69aa-f61a-4f4e-934f-293665019229Facebook: whistleblower allegations of misleading audience size should be taken seriouslyhttps://www.ft.com/content/3efd0b49-0dc3-41c5-b4b5-1f553d7bbc23The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.  Hosted on Acast. See acast.com/privacy for more information.

Read a transcript of this episode on FT.comhttps://www.ft.com/content/411bb70a-8fe9-41ef-bd58-e4798b12c2a2Vladimir Putin hinted that Russia’s state-backed monopoly pipeline exporter, Gazprom, may increase supplies to help Europe avoid a full-blown energy crisis, and US energy secretary Jennifer Granholm has raised the prospect of releasing crude oil from the government’s strategic petroleum reserve as the Biden administration confronts a politically perilous surge in the price of gasoline; General Motors plans to double its revenues by 2030 as the company steers towards electric vehicles, and the latest data leak detailing the financial affairs of the global elite makes clear how much progress has been made since the world began clamping down in earnest in 2008 — and how much remains to be done.Gas markets whipsaw after Russia offers to stabilise energy priceshttps://www.ft.com/content/e06c3b5d-153d-4c86-8c49-0d5447d58e76General Motors aims to double sales by 2030 with boost from electric vehicleshttps://www.ft.com/content/d02e8cc3-29a1-4634-bfb6-b658b1b4f4a4From Panama to the Pandora papers: what’s changed in offshore taxhttps://www.ft.com/content/1fe7a5a1-7515-4226-8906-b9c1eaecc455JAB seeks to raise $5bn fund to invest in petcare https://www.ft.com/content/93a23966-1b26-4e7b-aa0c-9ff2654e9990The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.  Hosted on Acast. See acast.com/privacy for more information.

Read a transcript of this episode on FT.comhttps://www.ft.com/content/eb1b2bc3-1edf-444b-ac44-8e3a79cd8887Private equity firms are offering the highest premiums for listed companies in more than two decades, and the Facebook whistleblower told Congress on Tuesday the company repeatedly chose to maximise online engagement instead of minimising harm to users. Plus, the FT’s Africa editor, David Pilling, explains Gabon’s effort to reposition itself as a “green superpower” and gain recognition for preserving its tropical forests. Private equity pays record premiums for public companieshttps://www.ft.com/content/69c28c74-e957-4009-912a-aee1c452995dFacebook chose to maximise engagement at users’ expense, whistleblower sayshttps://www.ft.com/content/41b657c8-d716-436b-a06d-19859f0f6ce4Africa’s green superpower: why Gabon wants markets to help tackle climate changehttps://www.ft.com/content/4f0579ac-409f-41d2-bf40-410d5a2ee46bBehind the Money Podcast: The tiny fund that took on a US giant and wonhttps://www.ft.com/behind-the-moneyThe FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley. Hosted on Acast. See acast.com/privacy for more information.

Read a transcript of this episode on FT.comhttps://www.ft.com/content/bc24e812-a089-43e1-bc7a-289916c97229US oil prices rose to the highest level in seven years on Monday after Opec and its allies declined to accelerate plans to increase crude production, and shares of big tech companies slid on Monday, with stocks such as Apple, Microsoft, Facebook and Amazon dragging the S&P 500 to its lowest close since late July. Plus, the former Facebook employee who leaked explosive internal documents will testify before US lawmakers today and is expected to urge members of Congress to regulate the social media platform much more tightly.Tech stock slide drags Wall Street lowerhttps://www.ft.com/content/1fba7824-ad14-46bd-a379-404e6b18abc0US oil hits 7-year high after Opec+ resists calls to accelerate productionhttps://www.ft.com/content/ccd6f6d6-6045-4f0c-8638-9b0e01fee1c5Five problems the Facebook whistleblower wants to fixhttps://www.ft.com/content/2dbf79af-6dc5-4c98-90f0-af396c13e3adWarren calls on SEC to probe trading by Federal Reserve officials - with Colby Smith https://www.ft.com/content/9111b7c5-53c5-4d6f-9b6d-ca3533057908The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.  Hosted on Acast. See acast.com/privacy for more information.

Read a transcript of this episode on FT.comhttps://www.ft.com/content/fc9fe04c-96ad-4127-ac98-2fbf579c36b6The International Monetary Fund’s board will meet this week to examine allegations that managing director Kristalina Georgieva manipulated data to favour China while she worked at the World Bank; Deutsche Bank severed relationships with “a very small number” of wealthy clients with criminal records after the arrest of disgraced financier Jeffrey Epstein; Plus, the FT’s Alphaville editor, Izabella Kaminska, talks about how the availability of gene-editing tools such as Crispr has led to an explosion of unchecked DIY experiments and dangers associated with biohacking. War of words escalates over China bias claims against IMF chiefhttps://www.ft.com/content/7fbface9-9e1c-41c4-84e9-1eb7fbb2023eDeutsche Bank dropped risky clients after Epstein scandalhttps://www.ft.com/content/28744ecd-e798-4516-b9bb-6257b37f2377Bioterror: the dangers of garage scientists manipulating DNAhttps://www.ft.com/content/9ac7f1c0-1468-4dc7-88dd-1370ead42371The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.  Hosted on Acast. See acast.com/privacy for more information.

Read a transcript of this episode on FT.comhttps://www.ft.com/content/5f0402b7-812a-4314-aba1-cee242f9e161US senators are pressuring Facebook to release all its internal research into how its products affect users after a series of revelations about the harm some its platforms cause to vulnerable groups including children. FT European technology correspondent Madhumita Murgia argues that it’s time for Facebook to turn off its digital advertising firehose. FT markets editor Katie Martin deciphers the message from this week’s bond market activity. And FT science editor Clive Cookson discusses how artificial intelligence can improve weather forecasting .Facebook pressed to release research on how its platforms affect users https://www.ft.com/content/b0e387f4-4a2f-49d3-9852-f8cf7dcc211cTime to turn off Facebook’s digital fire hose https://www.ft.com/content/d5dcfece-4e3c-4937-81ac-20dc736c4c27Global bond market set for worst month since early 2021 https://www.ft.com/content/42e62e77-f830-4e5a-895f-7837a72847b0DeepMind and UK’s Met Office use AI to improve weather forecasts https://www.ft.com/content/602235aa-7039-472a-80cf-55fa3519ea06The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.  Hosted on Acast. See acast.com/privacy for more information.

As sanctions derail its traditional business, China’s Huawei is scrambling to reinvent itself by shifting into areas less dependent on foreign chip supplies. China’s Belt and Road Initiative has left scores of lower and middle-income countries saddled with “hidden debts” totalling $385bn. Hong Kong’s stock market is on track for its worst quarter for new listings since the earliest days of the Covid-19 pandemic. And Japan’s new Prime Minister, Fumio Kishida, is seen as unlikely to veer from his predecessor’s economic policies.Hong Kong faces worst quarter for stock listings since pandemichttps://www.ft.com/content/40436534-cd31-4959-a7c1-95065e281046?‘Hidden debt’ on China’s Belt and Road tops $385bn, says new study, with Ed White https://www.ft.com/content/297beae8-7243-4d93-9fac-09e515e82972The necessary reinvention of Huawei, with Kathrin Hille https://www.ft.com/content/9e98a0db-8d0a-4f78-90d3-25bfebcf3ac9Japan’s ruling party appoints ‘Mr status quo’ Fumio Kishida as next leader, with Kana Inagaki https://www.ft.com/content/9c3b578f-2dd5-4913-acc9-4252c80214e1The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.  Hosted on Acast. See acast.com/privacy for more information.

Read a transcript of this episode on FT.comhttps://www.ft.com/content/6cd13eb2-0ab7-40a5-816f-43e963a3ce05The government bond sell-off that began last week on the prospect of higher interest rates ricocheted into the $51tn US stock market on Tuesday, weighing heavily on technology stocks, and Treasury secretary Janet Yellen warned that the US risks running out of money by October 18. Plus, the FT’s Ryan McMorrow chats about China’s latest crackdown on cryptocurrency trading and whether exchanges are cooperating.   Janet Yellen warns US risks running out of money by October 18https://www.ft.com/content/dc589573-0284-409e-a3df-9a4b102569acUS stocks suffer biggest loss since May as bond sell-off hits tech sectorhttps://www.ft.com/content/7541c364-736b-488b-a793-7ba5cf517f49Oil prices rise above $80 a barrel for first time in three yearshttps://www.ft.com/content/14d4980b-8163-4359-bc4a-fb2b7f7d2c27Cryptocurrency exchanges start cutting off Chinese usershttps://www.ft.com/content/9c42c660-7e80-47c2-8b3b-3398c6a22eafThe FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.  Hosted on Acast. See acast.com/privacy for more information.

Read a transcript of this episode on FT.comhttps://www.ft.com/content/1505ec37-b798-4016-8f80-d959bd6eac9cTwo senior Federal Reserve officials whose trading activity prompted the US central bank to launch an ethics review on Monday announced they will resign, and today Fed chair Jay Powell will join other central bank chiefs at a European Central Bank forum. Plus, where does Germany go after its razor-thin election? The FT’s Europe editor, Ben Hall, explains that it could be a while before there is a clear picture for the country’s government. Regional Fed chiefs step down after securities trading controversyhttps://www.ft.com/content/b899a77f-9853-4d20-ad84-21848b7e7ce2ECB official and OECD warn of rising inflation riskshttps://www.ft.com/content/55300c7b-ab06-40c4-a5f4-ed02ddb31374Germany’s ‘kingmaker’ parties to start talks after narrow SPD election winhttps://www.ft.com/content/fe539f99-8311-4ad7-96c0-ebc30ed9c1a0Hollywood agency CAA acquiring rival ICM to create movie powerhousehttps://www.ft.com/content/fd6a3976-540e-49e7-bf1d-2ac272573033?Join FT journalists on October 4 for a subscriber-only webinar on the outcome of Germany’s historic election and its implications for Germany, Europe and the rest of the world. Register free at ft.com/germanwebinarThe FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.  Hosted on Acast. See acast.com/privacy for more information.