FT News Briefing

Inflation in the U.S. is predicted to ease thanks to falling energy prices, but the Federal Reserve's rate hikes might continue. Discussions point to a potential decline in the dollar's status, with geopolitical tensions like the Ukraine conflict influencing global currency dynamics. Experts suggest a shift towards regional currencies could emerge, reshaping international trade. Also, China's efforts to expand its influence in Central Asia are highlighted, indicating a changing landscape in global economics.

King Charles III faces the challenge of managing the royal finances, a stark contrast to Queen Elizabeth II's approach. As he tours Scotland, the UK braces for the impact of new energy policies on markets. Meanwhile, Gazprom reaps record profits despite reduced gas shipments to Europe. Economic pressures are mounting with rising debt and inflation, creating uncertainty in the financial landscape. Additionally, Ukraine's military advancements are noted amid ongoing tensions with Russia.

Alec Russell, FT Weekend editor, delves into the profound legacy of Queen Elizabeth II following her passing. He discusses her 70-year reign as a stabilizing force in Britain and the national mourning it has sparked. The conversation highlights iconic moments from her rule, her pivotal role in the Commonwealth, and the emotional tributes pouring in from the public. Russell reflects on the future of the monarchy as King Charles ascends, capturing the collective grief and nostalgia for the late Queen's unique influence.

Miranda Green, Deputy Opinion Editor and columnist at the Financial Times, shares her insights on the profound shift following Queen Elizabeth II's death. She reflects on the Queen's remarkable dedication to public service and the evolving Commonwealth. Discussing the challenges King Charles III faces, Miranda emphasizes the changing political landscape and public sentiment towards the monarchy. The podcast captures the collective grief in London and Queen Elizabeth's legacy, highlighting her role as a source of comfort during turbulent times.

Chinese companies are significantly raising funds in Europe, outpacing the U.S. for the first time. European farmers brace for inflated food prices and potential shortages this winter due to rising energy costs. Meanwhile, the European Central Bank is making a hawkish pivot amidst soaring inflation, currently at 9.1%. Discussions of windfall taxes on energy producers are heating up, and in a surprising twist, Kim Kardashian steps into private equity, exploring Trump's political influence on Instagram Live.

The EU is eyeing a windfall tax on energy companies to combat soaring electricity bills, sparking debates on fairness across the energy sector. Meanwhile, Zambia's $1.3 billion IMF bailout raises questions about how China will respond to defaults, offering a cautionary tale for other debt-laden nations. In the U.S., banks are facing tighter scrutiny, leading them to overhaul messaging practices to avoid harsh penalties, highlighting a significant shift in financial industry operations.

Britain faces an energy crisis as a new prime minister takes charge, tackling rising household costs and inflation. Meanwhile, Russia has halted gas supplies to Europe in retaliation for sanctions, complicating the energy landscape. OPEC+ is also cutting oil production to support prices amid escalating challenges for European industries. In a surprising twist, affluent individuals from China are flocking to Singapore, seeking safety from strict pandemic measures and geopolitical tensions.

OPEC is considering oil supply cuts to stabilize prices amidst economic turmoil. The UK Conservative Party is set to elect a new leader, with Liz Truss promising immediate economic actions. Meanwhile, the podcast also explores the fervent beliefs surrounding cryptocurrency, likening it to a new faith. Additionally, listeners will hear about the rise of pool rentals, a quirky trend facing regulatory hurdles. These diverse topics highlight the intersection of politics, economics, and technology.

Chris Grimes, Los Angeles bureau chief for the Financial Times and expert on Hollywood, discusses the future of streaming wars. He reveals how pandemic-era spending on content is unsustainable. As theater audiences return, streaming platforms face challenges. Jonathan Guthrie then highlights the $160 billion debt we owe to bees for their pollination services, emphasizing their vital role in our ecosystem. He warns about the dire consequences if bee populations continue to decline, calling for immediate action to protect these essential pollinators.

The latest jobs report indicates a slowdown in U.S. job growth, while the eurozone celebrates its lowest unemployment rate at 6.6%. Meanwhile, the cruise industry is in recovery mode but is facing backlash from key port cities concerned about environmental impacts. Cities like Barcelona and Venice are reassessing their ties to cruise tourism, weighing economic benefits against ecological costs. Additionally, alarming health trends linked to COVID-19 reveal increased risks of heart attacks and strokes, posing challenges for healthcare globally.