Oliver Roeder, a U.S. senior data journalist at the Financial Times, and Sam Learner, a graphics journalist known for data visualization, dive into the booming world of political betting. They discuss how millions are being wagered on the presidential race between Trump and Harris. The duo explains the workings of prediction markets and their ability to reflect public sentiment. They also address the limitations and nuances of these markets, shedding light on the evolving relationship between betting and democracy as the election draws near.

Oliver Barnes, a seasoned US pharmaceutical correspondent for the Financial Times, teams up with Maria Heeter, a deals expert, to dissect a tumultuous activist investment campaign against Pfizer. They delve into the unexpected blunders, like a mysterious email that turned the tide. The duo discusses Pfizer's post-pandemic struggles, challenges in corporate governance, and how missteps can derail activist strategies in the pharma sector. Tune in for a gripping look at the high-stakes world where boardroom loyalty meets investor ambition!

Joshua Franklin, US banking editor at the Financial Times, dives into the explosive rise of independent trading firms like Jane Street and Citadel Securities. He discusses how these non-bank entities have surged past traditional investment banks, reshaping trading dynamics across various markets. The conversation highlights the efficiency of these firms and the risks they pose, especially regarding market stability and regulatory oversight. Franklin also touches on the contrasting operational models and the potential for increased regulation in future.

Owen Walker, the Financial Times' European banking correspondent, dives into UniCredit's recent acquisition of a 9% stake in Commerzbank. He discusses the potential for a transformative merger that could bolster European banking competitiveness. The conversation uncovers the resistance to cross-border deals, revealing a patchwork of national interests and political challenges. Walker emphasizes the strategic implications of this move and its potential to reshape the banking landscape in Europe, while also navigating the cautious outlook on large-scale mergers.

In this episode, Chris Grimes, the Los Angeles bureau chief for the Financial Times, delves into Netflix's remarkable comeback and its influence over Hollywood. He discusses the tech-savvy strategies Netflix employed, including a shift to an advertising model and cracking down on password sharing, fueling subscriber growth. Grimes also highlights the impact of the shifting power dynamics in the entertainment industry, showcasing how Netflix disrupts traditional studios and adapts to the evolving landscape post-COVID.

Patricia Nilsson, the Frankfurt correspondent for the Financial Times, dives deep into Volkswagen's current turmoil. She reveals the shocking possibility of factory closures, a move that would dramatically alter the company's legacy of job security. The discussion tackles the aftermath of the Dieselgate scandal and the urgent need for VW to transition to electric vehicles amid stiff competition in China. Nilsson also sheds light on the looming economic impact on Wolfsburg, drawing parallels to the decline of Flint, Michigan.

Leo Lewis, the Tokyo bureau chief for the Financial Times, explores the implications of Canada-based Couche-Tard’s bid for Japan’s 7-Eleven. This potential acquisition marks a pivotal moment in Japan’s traditionally closed corporate culture towards foreign deals. Lewis discusses the shift in attitudes and evolving regulatory practices that may usher in a new era of foreign investment. He also delves into the paradox of 7-Eleven’s success amidst stagnant shareholder returns, highlighting how this takeover could reshape Japan's M&A landscape.

Jay Powell, the Chair of the Federal Reserve, discusses his efforts to manage inflation without derailing the economy, joined by Robert Armstrong, a US financial commentator from the Financial Times. They delve into whether Powell's strategies are the result of skill or serendipity. The conversation also touches on comparisons with past central banking legends like Paul Volcker, and the challenges of navigating today's economic uncertainty while balancing inflation and employment. Ultimately, they ponder how history will evaluate Powell's leadership.

Tom Wilson, a journalist specializing in global oil trading and its geopolitical implications, discusses the dramatic shift in oil trading from Switzerland to the UAE. With Western sanctions on Russian oil, Dubai has emerged as a new trading hub, capitalizing on increased oil flows and logistical advantages. Wilson explores the impact of these changes on the global energy landscape and how lesser-known companies are gaining prominence. The conversation highlights the complexities and opportunities reshaping oil trading dynamics in today's market.

Join Eric Platt, a senior US corporate finance correspondent, and Amelia Pollard, a Due Diligence reporter, as they unpack the growing challenges facing private credit, especially highlighted by Pluralsight's loan troubles. They explore how this once-thriving sector now reveals hidden risks amid rising interest rates. The discussion dives into private equity's evolving strategies and the potential shortcomings of private credit firms in restructuring distressed companies. Tune in for insights that could shape the future of private lending.