Behind the Money

At one time, Credit Suisse was considered to be among the most respected banks in Europe. The FT’s European banking correspondent Owen Walker explains how the Swiss bank is trying to make a comeback after years of scandal and losses — and what might happen if it fails.Clips from CNBC, DW News, Reuters - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Credit Suisse chair says outflows have reversed since ‘social media storm’‘Radical surgery’: Will Credit Suisse’s gamble pay off?Credit Suisse turns to ‘Uli the knife’ to cut bank loose from scandal- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Owen Walker (@OwenWalker0) and Michela Tindera (@mtindera07)Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

This week, we revisit one of our favourite episodes. After years of mega-deals and mega-money gushing into start-ups, venture capital fundraising hit a record-high last year. Now, the FT’s Richard Waters says the fundraising bonanza is over and helps us explore what that means for the future of start-ups. Clips from Looney Tunes: ⓒ Warner Bros. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Venture capital’s silent crash: when the tech boom met realityKlarna’s valuation crashes to under $7bn in tough funding roundVenture capital’s delayed rendezvous with reality- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Richard Waters (@RichardWaters) and Michela Tindera (@mtindera07)Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Qatar is in the spotlight as the host of this year’s World Cup — and the small, oil-rich nation has had to confront a lengthy human rights record with the world watching. The FT’s Gulf correspondent Simeon Kerr breaks down Qatar’s larger goals due to hosting the tournament, and what changes it has — and hasn’t — made to see those through. Clips from BBC, AP, PBS NewsHour, France24, The Guardian- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:The ethical case for watching this possibly unethical World CupQatar counts down to World Cup kick-off after $200bn soft power betHow the unlikeliest World Cup ever came to beQatar 2022: the weirdest World Cup in history- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Simeon Kerr (@simeonkerr) and Michela Tindera (@mtindera07)Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

The crypto exchange FTX was supposed to be among the “credible” players operating in digital finance. But its swift descent into bankruptcy shocked the financial industry. The FT’s asset management correspondent Josh Oliver explains what went wrong, and markets editor Katie Martin tells us what it says about the future of crypto. Clips from CBS, ABC- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:How Sam Bankman-Fried seduced blue-chip investorsDD goes forensic on FTX: A deep dive into the crypto collapse that has stunned financeFTX held less than $1bn in liquid assets against $9bn in liabilitiesHedge fund admits half its capital stuck on FTX exchange- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Josh Oliver (@joshckoliver), Katie Martin (@katie_martin_fx) and Michela Tindera (@mtindera07) Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Tech Tonic is back with a new season about climate tech.As more people fly, aviation is on track to becoming a much bigger problem for climate change. Host Pilita Clark, FT columnist and climate journalist, looks at the potential for a more sustainable aviation industry, a sector that’s struggled to come up with new technology to cut its emissions. Could we end up being forced to cut back on flying altogether? Producer Josh Gabert-Doyon travels to Farnborough Airshow, and we hear from Zero Petroleum’s Paddy Lowe, Boom Supersonic’s Blake Scholl, and executives from Boeing, Airbus, ADS, United and EasyJet. Follow Tech Tonic to hear the full season here. Hosted on Acast. See acast.com/privacy for more information.

Russia’s invasion of Ukraine earlier this year triggered a global food crisis. Recently, FT correspondents Polina Ivanova, Chris Cook and Laura Pitel found out how Russia aims to profit from this. Ivanova explains how they used satellite photos, transponder data and a document trail to track a Russian company’s shipment of 2,675 metric tonnes of milling wheat out of the occupied Ukrainian port of Berdyansk, across the Black Sea and over to a port in Turkey. Clips from CNN, PBS- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:How Russia secretly takes grain from occupied UkraineRussian exit from Ukraine grain deal ‘catastrophic’ for poor nationsShips going dark: Russia’s grain smuggling in the Black Sea- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Polina Ivanova (@polinaivanovva) and Michela Tindera (@mtindera07) Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

There’s some internal turmoil at JPMorgan Chase over who should manage the bank’s wealthiest clients. At the centre of the infighting is a top financial adviser who’s managed the accounts of some big names, including retired baseball player-turned-entrepreneur Alex Rodriguez. The FT’s US banking editor Joshua Franklin walks us through what led to this years-long legal battle at one of the world’s biggest banks.- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Glitz and Gladwell: the infighting over prized JPMorgan wealth clientsBaseball star Alex Rodriguez at centre of JPMorgan client poaching rowAsset Management: Growth investors adapt to new paradigmTake our FT Podcast Listener Survey here. - - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Joshua Franklin (@FTJFranklin) and Michela Tindera (@mtindera07) Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

US Republicans are picking a fight with some major financial institutions over ESG, or environmental, social and governance investing. That means considering things such as climate risks, labour issues and board diversity when choosing investment funds. The FT’s corporate governance reporter Patrick Temple-West explains why Republicans are upset and what this backlash might mean for the future of ESG.Clips from Fox News, CNBC- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:US Republicans pull $1bn from BlackRock over ESG investing concernsBlackRock: ESG tightrope is hard to navigateMaking funding flows fair: Must ESG be bad news for emerging markets?Greenwashing faces fresh curbs in UK regulator’s crackdown- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Patrick Temple-West (@Temple_West) and Michela Tindera (@mtindera07) Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

The spotlight is on China as the Communist party’s 20th National Congress takes place this week. At a critical moment when President Xi Jinping prepares to stay on for an unprecedented third term as leader, there’s an important problem: China’s economy is slowing down. The FT’s China correspondent Edward White explains why this has happened and whether or not it's too late for Xi to make the changes necessary to put the country on a path to strong growth again.   Clip from the South China Morning Post - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Xi Jinping’s last chance to revive the Chinese economyChina’s property crash: ‘a slow-motion financial crisis’China growth to fall behind rest of Asia for first time since 1990China delays key GDP data in middle of Communist party congress - - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Edward White (@edwardwhitenz) and Michela Tindera (@mtindera07)Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Trevor Milton and his electric vehicle start-up Nikola became Spac darlings in 2020 with his plan to transform the trucking industry. Then it all came crashing down. The FT’s Claire Bushey explains the boom and bust of entrepreneur Trevor Milton’s career and what we can learn from his story. Clips from Nikola- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Nikola founder Trevor Milton accused of misleading investors at fraud trialNikola: the clues in Trevor Milton’s past that investors missed or ignoredUS justice department inquires into Nikola fraud claims- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Claire Bushey (@Claire_Bushey) and Michela Tindera (@mtindera07) Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.