Behind the Money

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.

Years of low interest rates sent investors hunting for creative ways to generate returns. One unlikely place they found was inside the song catalogues of some of the top musicians and songwriters of the last few decades. But now, as interest rates rise and the possibility of a global recession looms, the FT’s Anna Nicolaou and Kaye Wiggins explain how one of the hottest recent trends on Wall Street could soon have to face the music. Clip from Chevrolet - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:How Wall Street stormed the music businessBlackstone-backed song rights machine suffers growing painsAnother brick in the Wall Street as Blackstone seeks Pink Floyd catalogue- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Anna Nicolaou (@annaknicolaou), Kaye Wiggins (@kayewiggins) and Michela Tindera (@mtindera07) Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

As the rollout of bivalent boosters for Covid-19 continues, experts are concerned that the US isn’t doing enough to support the development of the next wave of vaccines and treatments that the world needs. In this week’s episode, we hear from White House Covid coordinator Ashish Jha, professor of molecular medicine and cardiologist Eric Topol and the FT’s US pharmaceuticals correspondent Jamie Smyth on what the future of Covid vaccines could and should look like.  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Investors ditch vaccine stocks after Joe Biden says ‘pandemic is over’Joe Biden’s Covid-19 tsar warns millions risk losing access to treatment- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Jamie Smyth (@JamieSmythF) and Michela Tindera (@mtindera07) Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Over the last year, Starbucks baristas across the US banded together to form unions at the stores where they work. And workers at other big name companies like Amazon have joined in to organise their own workplaces, too. But the FT’s labour and equality correspondent Taylor Nicole Rogers explains how these and other new unions around the US are running up against a classic problem in labour. Can they convince their employers to come to the bargaining table to hash out a contract?  Clips from NBC, CBS- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:US trade unions: Inside the revival brewing at StarbucksJoe Biden secures deal to avert US rail strike Howard Schultz vows Starbucks rebound after coffee chain ‘lost its way’- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Taylor Nicole Rogers (@TaylorNRogers) and Michela Tindera (@mtindera07) Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Construction of a massive oil pipeline in east Africa is underway. For the governments of the countries it will run through, it promises new economic opportunities. But for many others, it could spell trouble. Like the fight over North America’s Keystone Pipeline, this one has become an important battleground for environmental groups around the world. The FT’s Leslie Hook explains the approach activists are taking to fight it. Clips from UBC Television Uganda- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:The oil giants drilling among the giraffes in UgandaMarsh revealed in oil pipeline project shunned by leading banks and insurers- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Leslie Hook (@lesliehook) 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 all about crypto!We wanted to share with you the second episode of the latest season of Tech Tonic. FT columnist and host Jemima Kelly tries to understand why an influential Silicon Valley investment firm thinks that Web3 is a good bet. Will blockchain technology really be the foundation of a new internet era? Is Web3’s promise to decentralise the internet going to pose a challenge to companies such as Facebook and Twitter? The FT’s innovation editor John Thornhill interviews Chris Dixon, head of Andreessen Horowitz’s crypto fund, and Jemima talks to Molly White, author of the Web3 Is Going Just Great blog.Follow Tech Tonic to hear the full season here. Hosted on Acast. See acast.com/privacy for more information.

Buying carbon credits is a way for companies to show they’re serious about fighting climate change. But keeping track of these credits is tricky. Now, advocates of the blockchain - the technology that underpins cryptocurrency - say that its digital ledger could be a possible solution to bring transparency to the market. On today’s episode, the FT’s Camilla Hodgson explores whether this technology could help fight climate change or whether some supporters are just in it for their own benefit.- - - - - - - - - - - - - - - - - - - - - - - - - -For further reading:Crypto and climate change: can web3 help get us to net zero?FT News BriefingRead a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Early in his tenure the new Goldman Sachs CEO David Solomon presented a grand new vision for what the massive bank should become. How has it panned out since? And is there still time for Solomon to make the changes it needs? The FT’s US banking editor Joshua Franklin examines what Solomon has and hasn’t achieved in his four years at the helm. Clips from CBS - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:In era of quick-fire bosses, Wall Street embraces the ‘forever CEO’The reinvention of Goldman Sachs: what has David Solomon achieved?Goldman raises profitability target in effort to bridge valuation gap - - - - - - - - - - - - - - - - - - - - - - - - - - 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.

The FT’s south Asia correspondent Ben Parkin explains how Afghanistan’s economy has changed in the year since US forces left the country and the Taliban retook control of the government.   Clips from CBS, BBC - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:The Taliban’s black gold: militants seize on coal to reboot economyLife under the Taliban: ‘what matters is that we’re hungry’The Taliban’s new order: ‘We’ll introduce a system for the world’ - - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow Benjamin Parkin (@b_parkyn) and Michela Tindera (@mtindera07) Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

The Federal Reserve has spent more than a decade buying up government debt as part of a post-2008 program to support the economy, also known as quantitative easing. Now with inflation reaching record highs, those days are over, and a new era of quantitative tightening is emerging. On this week’s episode, the FT’s markets editor Katie Martin explains how markets expect to grapple with the change.  Clips from ABC, CNBC, CBS- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Did QE cause inflation?The mystery of how quantitative tightening will affect marketsDid central bank balance sheets really need to get so big?- - - - - - - - - - - - - - - - - - - - - - - - - - On Twitter, follow 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.