FT News Briefing

Federal Reserve officials are holding interest rates steady in a fight against inflation, impacting the economy significantly. In the UK, borrowing costs have surged, raising recession fears. Tencent faces its first quarterly revenue drop, pointing to wider challenges in China's tech sector. The demise of Miss Fresh serves as a cautionary tale about operational mishaps in the tech landscape. Meanwhile, Japan encourages more alcohol consumption among youth to enhance tax revenue, reflecting shifting societal perspectives.

Amazon is in a heated battle with the FTC, accusing the agency of harassment over an antitrust investigation. Meanwhile, hedge fund Elliott Management has largely divested from SoftBank, signaling investor unease. In a twist, Adam Neumann, the controversial figure behind WeWork, is back in the spotlight with a new real estate venture called Flow, backed by Silicon Valley investors. Will he succeed this time? The discussion highlights the intersection of regulation and innovation in the tech world.

Kenya's election results face a challenge amidst political turmoil. Iran distances itself from the attack on Salman Rushdie, while navigating tense international relations. Meanwhile, China takes action to stimulate its economy with a significant lending rate cut. The private equity landscape is shifting, as once-competitive firms now collaborate on groundbreaking deals, even as they face potential regulatory hurdles in an evolving financial environment.

Saudi Arabia is boosting Pakistan's economy with a renewed $3 billion deposit, while Aramco celebrates record profits thanks to high energy prices. The discussion shifts to the complexities of stock buybacks, revealing they may not be significantly affected by upcoming tax changes. Meanwhile, Mexico's president is calling on beer makers in drought-stricken regions to reduce production, sparking debate on environmental responsibility. Tune in for fascinating insights into these economic dynamics!

Chef Mashama Bailey, a recent James Beard Outstanding Chef winner, discusses her journey of redefining American cuisine by reclaiming African-American food traditions at The Grey in Savannah. She shares insights on preserving historical recipes and the cultural significance of regional ingredients. Joined by Stephen Satterfield, founder of Whetstone Media, they explore the importance of recognizing Black culinary contributions and the role of food in healing historical wounds. Together, they highlight food's transformative power and its connection to legacy.

U.S. lawmakers are moving forward with a massive $700 billion spending bill amidst a crisis in the IPO market and a slowdown in European corporate bond activity. Meanwhile, Ben & Jerry's is embroiled in a heated legal battle with parent company Unilever over sales impacted by political tensions in the West Bank and East Jerusalem. This conflict highlights the clash between corporate ethics and financial pressures, as Ben & Jerry's advocates for social responsibility against Unilever's broader commercial interests.

Recent reports reveal a notable slowdown in US inflation, bringing relief to markets. Disney shines with a surge of 15 million new subscribers on Disney+, beating expectations. Meanwhile, social media is betting on live stream shopping as the next big trend, inspired by successes in Asia, despite challenges in the West. The discussion also touches on how these economic shifts could affect Federal Reserve policies, especially concerning interest rates and the job market.

Corporate America is fuming over President Biden's economic package, particularly new tax measures that could impact corporate earnings. Meanwhile, Taiwanese officials are urging Foxconn to retract its investment in a Chinese chipmaker amid rising tensions. The podcast also examines Ukraine's military dynamic, highlighting the strategic significance of Kherson. Lastly, it looks at Serena Williams' transition from tennis champion to influential business leader, showcasing her dedication to increasing female representation in sports and business.

Rising tensions in the Taiwan Strait are igniting concerns worldwide, especially with China's military maneuvers. Meanwhile, the Irish economy is thriving, thanks to tech sector taxes amidst a backdrop of high living costs. Investors are divided over the longevity of the recent tech rally, caught between hopes for a sustainable recovery and fears of potential earnings declines. Lastly, the U.S. reinforces its support for Ukraine, adding another layer to global geopolitical tensions.

Investors are rapidly offloading stakes in private equity, a trend highlighted amidst soaring earnings for gig economy firms like Uber and Lyft. Apple faces serious scrutiny as former employees allege serious mishandling of harassment claims by its HR team, raising questions about the company's corporate culture. The discussion sheds light on the troubling lack of support for those reporting misconduct. Additionally, the podcast explores how food delivery services thrive, signaling a shift away from the low-cost gig model.