US President Donald Trump wants energy producers to drill for more oil. He claims it will lower prices for consumers and tackle inflation. But oil companies have a different set of priorities — and those could send them on a collision course with Trump. Clips from C-Span, Fox, ABC 

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For further reading:

When peak Chinese oil demand meets ‘drill, baby, drill’ 

A shale boom is not Donald Trump’s gift to give 

Wall Street will stymie Donald Trump’s US oil surge plan, say shale bosses

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Follow Amanda Chu (@amandalanchu) and Jamie Smyth (@jamiesmythft.bsky.social). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.bsky.social), or follow her on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Mexico’s new president Claudia Sheinbaum is pursuing an ambitious agenda for her country. It promises a better standard of living for Mexicans. But investors in the country’s economy have their concerns – and now there’s a new threat on the horizon: US President Donald Trump. The FT’s Mexico and Central America correspondent Christine Murray explains how Sheinbaum will navigate the nation’s economic path forward.  

Clip from Global News 

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For further reading:

Mexico’s new president digs in with radical ideas as Trump threat looms

Mexico pledges to shrink trade deficit with China in nod to Donald Trump

Mexico’s first female president to take power under mentor’s shadow

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Follow Christine Murray on X (@chrissiemurray). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.bsky.social), or follow her on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

This week, we’re going back to Omaha, Nebraska. Behind the Money and the FT’s senior corporate finance correspondent travelled there this spring to attend Berkshire Hathaway’s annual shareholder meeting. America’s “last great” conglomerate is preparing for a leadership transition, and we examined what Warren Buffett’s empire will look like after he’s no longer at the helm.

Clips from CNBC

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For further reading:

Berkshire after Buffett: is Greg Abel up to the top job?

Berkshire after Buffett: prized energy business faces upheaval

Berkshire after Buffett: the risk ‘genius’ pulling the insurance strings

Berkshire after Buffett: can any stockpicker follow the Oracle?

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On X, follow Eric Platt (@ericgplatt) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. 

Hosted on Acast. See acast.com/privacy for more information.

At one time not that long ago, you could find Libor in everything: mortgages, corporate loans, credits cards and more. Now, its days are numbered. The FT’s Harriet Clarfelt and Philip Stafford take us back to the 1980s origins of the scandal-ridden benchmark rate, how its reputation came apart and why, with just weeks to go before a June 30 deadline, one part of the financial world is still racing to leave it behind. 

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For further reading:

Loan market braced for rush to Libor finish line 

The pain and SOFRing are almost over

‘Litigation will take over’: US lawmakers warned of Libor chaos

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On Twitter, follow Harriet Clarfelt (@HClarfelt), Philip Stafford (@staffordphilip) 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’re revisiting an episode from last year. Johnson & Johnson, one of the world’s largest healthcare companies, is facing thousands of lawsuits from people alleging they got cancer from using one of their oldest products: talc-based baby powder. To manage the growing liability, J&J deployed a controversial bankruptcy manoeuvre known as the Texas two-step. The FT’s US pharmaceutical correspondent Jamie Smyth helps us explore whether J&J’s use of this manoeuvre is setting a precedent for corporations to evade accountability in America. Plus, stick around for an update on what’s happened to the Texas two-step since this episode first aired. 

Clip from NBC 

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For further reading:

Johnson & Johnson’s ‘Texas-two-step’ sparks outcry over US bankruptcy regime

Talc ruling a blow to J&J and the ‘Texas two-step’ bankruptcy jig

Talcum powder cancer claims target J&J’s new consumer carve-out

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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.

As cryptocurrencies have grown in popularity and people use cash less and less, central banks have been put on the defensive. Their solution to stay relevant and maintain control? A central bank digital currency. Institutions such as the European Central Bank see it as their way to leap into the digital age. But as the ECB is pushing forward with its agenda, it’s facing criticism from the very people and banks who would help keep it alive. The FT’s Martin Arnold takes a closer look at the digital euro — its promises, pitfalls and why people took to the streets to protest against it earlier this year.   

Clips from CNBC, Council on Foreign Relations, Meta, NBC

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For further reading:

The digital euro: a solution seeking a problem?

Central banks’ digital currency plans face public backlash

Facebook Libra: the inside story of how the company’s cryptocurrency dream died

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On Twitter, follow Martin Arnold (@MAmdorsky) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

The London Stock Exchange once held the top spot in global financial markets. In recent years, that’s changed drastically. The FT’s Harriet Agnew and Katie Martin explain how a yacht floating off the Canary Islands 30 years ago played a critical role in changing the stock market. 

Clips from CBS, Thames News 

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For further reading:

Britain’s ‘capitalism without capital’: the pension funds that shun risk 

‘There are no domestic equity investors’: why companies are fleeing London’s stock market

Why Europe’s stock markets are failing to challenge the US

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On Twitter, follow Harriet Agnew (@HarrietAgnew), 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.

On the final episode of BTM Night School, we're talking markets: from stocks to bonds to commodities. We're joined by the FT's Markets editor Katie Martin and Ethan Wu, a member of the FT’s Wall Street team. Katie and Ethan unpack why last year was terrible for stocks, what bonds can tell you about inflation, and which market gives us the clearest picture into the “real” economy. This series is made in collaboration with Blinkist. To hear more conversations like this, check out the Blinkist app. 

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Interested in pursuing a Master of Business Administration? Sign up for our newsletter course MBA 101 for your guide to applying and getting into business school.

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Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Silicon Valley legend Intel was the semiconductor chip industry’s global leader for decades. Lately it’s fallen behind, just as the US is recognising the importance of chips to economic and national security. Now, Intel is trying to turn itself round. The FT’s Richard Waters explains its plans and the many challenges it will face in order to reclaim that stature. 

Clip from CNN 

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For further reading:

Can Intel become the chip champion the US needs?

Can Intel come back? 

Intel: Chips Act subsidies may impede a return to former glory

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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.

ESG has become a buzzword within public companies and among asset managers. Central banks and big asset managers such as BlackRock have been championing these standards, asking companies to consider climate change and corporate governance. But ESG is also seeing a backlash. Gillian Tett, founding editor of the Financial Times’ Moral Money newsletter, explains how it is changing the corporate boardroom and how much of an effect the pushback against ESG is having. This series is made in collaboration with Blinkist. To hear more conversations like this, check out the Blinkist app.

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Interested in pursuing a Master of Business Administration? Sign up for our newsletter course MBA 101 for your guide to applying and getting into business school.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

When news broke last year that EY was planning to split its businesses, it was seen as a move that could reshape the accounting industry. The bold plan was given an equally grand name, “Project Everest”. But after months of negotiations from within the firm, and despite the support of the global leadership, the plan recently fell apart. FT’s US accounting editor Stephen Foley and accountancy correspondent Michael O’Dwyer explain why that shakeup didn’t happen. 

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For further reading:

EY risks paralysis and a power vacuum after break-up failure

Julie Boland: the EY leader in the middle of a ‘civil war’

EY to cut 3,000 jobs in US to eliminate ‘overcapacity’

EY: embarrassing climbdown calls future strategy into question

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On Twitter, follow Stephen Foley (@stephenfoley) and Michael O’Dwyer (@_MODwyer)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

From the rise of ChatGPT to job cuts at companies such as Meta and Amazon, tech has dominated the headlines in 2023. On this episode of Night School, the Financial Times’ innovation editor, John Thornhill, breaks down the biggest tech stories of the year so far. He tells US managing editor Peter Spiegel how artificial intelligence will revolutionise healthcare, who is winning in the global tech race, and what’s in store for blockchain’s future. This series is made in collaboration with Blinkist. To hear more conversations like this, check out the Blinkist app.

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Interested in pursuing a Master of Business Administration? Sign up for our newsletter course MBA 101 for your guide to applying and getting into business school.

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Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

This week, we’re bringing you something from our fellow podcast, FT Weekend. The show travels to Miami, Florida, to drink some beers, place some bets, and discover how AI is changing the sport of horse racing. FT data journalist Oliver Roeder joins FTW host Lilah Raptopoulos to talk about how the ancient sport is being upended by anonymous computer-assisted bets. These secretive gamblers are injecting billions of dollars into the pools, and aggressively tipping the odds, and it’s putting the whole sport at risk.

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For further reading:

I used AI to bet on horse-racing. Here’s what happened

Stake.com: the Aussie gambling minnow that made it big on crypto 

How English football became hooked on gambling

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On Twitter, follow Oliver Roeder (@ollie) and Lilah Raptopoulos (@lilahrap)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Lately, China’s economy has been in the doldrums, with the risk of a “deflationary spiral” lurking. Plus, toss in the election of Donald Trump in the US — and reaching the economic goals President Xi Jinping set more than a decade ago looks even more difficult. The FT’s China bureau chief Joe Leahy examines Beijing’s latest plans to fix the country’s economy and whether it will be enough to keep up with Xi’s long-term plans for growth.  

Clips from Bloomberg, CBS, Yahoo Finance 

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For further reading:

Why Xi Jinping changed his mind on China’s fiscal stimulus

Why China is betting on local governments to spur the economy

If China’s statistics can’t be scrutinised, doubts about the economy will only grow

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On X, follow Joe Leahy (@leahyjoseph) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Inflation remains stubbornly high in the US. In this week’s episode of BTM: Night School, US managing editor Peter Spiegel talks to US economics editor Colby Smith about how we got here and what the Federal Reserve can do to tamp down inflation. This series is made in collaboration with Blinkist. To hear more conversations like this, check out the Blinkist app. 

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Interested in pursuing a Master of Business Administration? Sign up for our newsletter course MBA 101 for your guide to applying and getting into business school.

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Hosted on Acast. See acast.com/privacy for more information.

Apple has spent two decades and billions of dollars building a massive supply chain for its products. At the centre of that operation is China. But as Beijing has become more authoritarian and relations with the US sour, it has become harder for Apple to do business there. The company has been signalling recently that it will diversify away from the country, but the FT’s Patrick McGee tells Michela why cutting ties will be extremely difficult.  

Clips from Fox News, CGTN, Yahoo, ABC 

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For further reading:

How Apple tied its fortunes to China

What it would take for Apple to disentangle itself from China

Tim Cook praises Apple’s ‘symbiotic’ relationship with China

Apple and Foxconn win labour reforms to advance Indian production plans

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On Twitter, follow Patrick McGee (@PatrickMcGee_) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

It’s time to hit the books with Behind the Money: Night School. This series will serve as a primer to the biggest economic stories of 2023. 

On today’s episode, US Managing Editor Peter Spiegel talks with Derek Brower about energy policy. They discuss how the United States became almost energy independent, President Biden’s about-face on oil and gas, and why the Inflation Reduction Act might just transform America’s economy into a hub of green innovation. 

This series is made in collaboration with Blinkist. To hear more conversations like this, check out the Blinkist app.

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Interested in pursuing Masters of Business Administration? Sign up for our newsletter course MBA 101 for your guide to applying and getting into business school.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

There’s been a lot of big finance and economics news in 2023. Whether it's stories about rising interest rates, tech industry layoffs or bank runs, it can almost feel like you need an MBA just to make sense of it all. That’s why the Financial Times is launching a bonus series on this feed called Behind the Money: Night School. 

Over the next five weeks, this show will help you understand the concepts behind the biggest economic stories of this year. U.S. managing editor Peter Spiegel chats with FT journalists as they unpack the basics around things like energy markets, inflation and the rise of artificial intelligence. This series is supported by Blinkist. If you want to find out more about conversations like this, check out the Blinkist app.

Behind the Money: Night School debuts on Monday, April 17. And, you can find it right here, on the Behind the Money podcast feed.

Hosted on Acast. See acast.com/privacy for more information.

This week, we’re revisiting an important episode from last year. Russia’s full-scale invasion of Ukraine in 2022 triggered a global food crisis. Months later, FT correspondents Polina Ivanova, Chris Cook and Laura Pitel found out how Russia aims to profit from this. 

Ivanova explains how she and her colleagues 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

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For further reading:

How Russia secretly takes grain from occupied Ukraine

Russian exit from Ukraine grain deal ‘catastrophic’ for poor nations

Ships going dark: Russia’s grain smuggling in the Black Sea

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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.

Climate disasters are becoming more and more common, and the countries most vulnerable to them are often the ones emitting the least pollution. That imbalance has sparked a debate on whether rich, polluting nations have a responsibility to contribute more when there are climate catastrophes. In today’s episode, we’re looking at one country that serves as an example: Pakistan. We’ll discuss how it plans to fund its recovery after record-breaking floods – worsened by climate change – submerged much of the south Asian country last year. 

Clips from Sky News Australia, Al Jazeera, Channel 4 News

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For further reading:

Rebuilding Pakistan: how much should rich nations help?

‘It’s the fault of climate change’: Pakistan seeks ‘justice’ after floods

Pakistan is on the brink

Debt burden traps global south in a vicious circle

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On Twitter, follow Ben Parkin (@b_parkyn), Camilla Hodgson (@CamillaHodgson), and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

After the collapse of Silicon Valley Bank, markets were anxious, and the prestigious, yet scandal-ridden Credit Suisse looked as if it could be next to fall. But over the span of a single weekend, the Swiss government and Credit Suisse’s crosstown rival, UBS, raced against the clock to avert disaster. The FT’s banking editor Stephen Morris provides a front row look at how the deal came together.

Clips from Bloomberg, CNBC, BBC

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For further reading:

How the Swiss ‘trinity’ forced UBS to save Credit Suisse 

Credit Suisse: the rise and fall of the bank that built modern Switzerland 

Saudi National Bank chair resigns following Credit Suisse comments

And further listening:

Behind the Money's December 2022 episode, Credit Suisse's last chance

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On Twitter, follow Stephen Morris (@sjhmorris) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Credit Suisse… Silicon Valley Bank… Signature Bank… First Republic… After weeks of breaking headlines about banks in crisis, we are taking a big picture look at the sector with the FT’s chief economics commentator, Martin Wolf. In this episode, he explains why banks fail, and lays out the four paths that banking reform could take in the future. 

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For further reading:

Banks are designed to fail — and they do 

US capitalism is ‘breaking down before our eyes’, says Ken Griffin

How the Swiss ‘trinity’ forced UBS to save Credit Suisse

Four ways to fix the bank problem

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On Twitter, follow Martin Wolf (@martinwolf_) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

The collapse of Silicon Valley Bank last week raised questions about the strength of the United States’ banking system, and whether we’re headed for another financial crisis. The FT’s US financial commentator Robert Armstrong tells us why he’s not freaking out. 

Clips from CBS, NBC, CNN, DW

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For further reading:

SVB was only a little bit insolvent, luckily

SVB’s collapse is not a harbinger of another 2008

The weekend US officials hatched a plan to stave off a banking crisis 

Silicon Valley Bank shows the perils of regulators fighting the last war

For further discussion: 

Join an FT subscriber-only webinar on SVB’s collapse and the fallout, featuring Robert Armstrong and other FT journalists and guests, on Thursday March 16 1600-1700 GMT (1200-1300 ET). Register here. 

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On Twitter, follow Robert Armstrong (@rbrtrmstrng) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Over just a few years, the share price of an obscure company from the United Arab Emirates has jumped 40,000%. But little is known about International Holding Company, which has investments in everything from Elon Musk’s SpaceX to India’s Adani Group. The FT’s Middle East editor travelled to Abu Dhabi to get answers about its rapid growth and its connections to some of the most powerful people in the Gulf. 

Clips from MSNBC, CBS

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For further reading:

The UAE business that went from obscurity to a $240bn valuation in 3 years

The sheikh’s empire driving Abu Dhabi’s meteoric stock market rise

The Abu Dhabi royal at the nexus of UAE business and national security 

Groovy girls, typing pools and labour camps: the complicated world of IHC

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On Twitter, follow Andrew England (@cornishft) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Who will corporate America's winners and losers be under four more years of Donald Trump? This week, the FT’s Brooke Masters, Stephen Morris and Jamie Smyth explain what changes a second Trump administration will bring to three crucial sectors: Wall Street, tech and energy.

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For further reading:

Can the renewables boom withstand Trump?

A Wall Street giddy over Trump should remember history

Who’s who in the Musk ‘A-team’ vying to shape Trump 2.0

Trump 2.0: winners, losers and Elon

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On X, follow Brooke Masters (@brookeamasters), Stephen Morris (@sjhmorris), Jamie Smyth (@JamieSmythF) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. 

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Recently, flying in the US seems to be more chaotic than calm. And while it may seem like this all started recently, the FT’s Chicago Correspondent Claire Bushey takes us back to a decision that happened in the 1970s that got us to where we are now. 

Clips from NBC, PBS, CBS

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For further reading:

How the US fell out of love with flying

Passengers to keep ‘paying the price’ of aviation chaos, says United CEO

Hyper-efficiency is bad business

US airlines: higher fares and (hopefully) better service

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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.

It’s been one year since Russia launched its full-scale invasion of Ukraine. We’re spending this episode talking to FT reporters and Ukrainian entrepreneurs about the costs of this war: How individuals' lives have been uprooted, how the country’s economy has been turned upside down, and how global markets such as food and energy have been transformed. 

Clips from CNN, BBC, NBC, PBS, Al Jazeera English

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For further reading:

Conflict with Russia hangs over Ukraine’s recovery

Something for the weekend: the year of Ukraine

Marking a year in the Ukraine war

He wanted an adventure. He ended up in Ukraine’s most brutal war zone

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On Twitter, follow Ben Hall, (@hallbenjamin) Emiko Terazono, (@EmikoTerazono) Tom Wilson (@thomas_m_wilson) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

The EU’s executive branch is known for leading the way when it comes to regulating crucial industries, like Big Tech. But for now, one country appears to be further ahead in the race to keep competition alive for European entrepreneurs. The FT’s EU correspondent Javier Espinoza explains who is leading the pack and what it means for everyone else.  

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For further reading:

How Germany became Europe’s leading Big Tech trust buster

Brussels re-energised for Big Tech battles

EU braced for legal challenges to rules designed to tackle Big Tech

Fight breaks out between Ireland and Germany over Big Tech regulation

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On Twitter, follow Javier Espinoza (@JavierespFT) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

The dollar dominated last year as the US Federal Reserve raised interest rates quicker than other countries to tame inflation. But the so-called “king dollar” has shifted recently. FT Capital Markets Correspondent Kate Duguid dives into how the greenback has been toppled from its throne and what that means for the rest of the world. 

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For further reading:

US dollar hits reverse gear as Fed cedes rate-rise ‘driver’s seat’

Dollar touches 7-month low as Fed rate rise expectations slide

The downturn in the dollar is not just about rates

Emerging market governments raise $40bn in January borrowing binge

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On Twitter, follow Kate Duguid (@kateduguid) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Several Big Tech companies have recently announced job cuts - and they pinned their decisions on a pandemic-induced hiring spree. But is that actually what’s driving the cuts? We sat down with the FT’s US financial commentator Robert Armstrong to get the full picture. 

Clips from Reuters, MSNBC, Yahoo Finance

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BTM listeners, we want to know what you think of the show and what you want to hear more of. Visit ft.com/btmsurvey to submit your feedback. 

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For further reading:

Slimming down Big Tech

Is Big Tech flabby?

Bye-bye massages and free food: Big Tech cuts back perks

The shock of mass lay-offs is only the beginning for companies

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On Twitter, follow Robert Armstrong (@rbrtmstrng) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Last year, we talked about China needing to find a mechanism to fix its economy. It looks like it may have found it - by abruptly ending its zero-Covid policies. The FT’s Shanghai correspondent Tom Hale and Global China Editor James Kynge break down what President Xi Jinping’s main goals are and whether it’s enough to jumpstart the country’s economy.

Clips from CNN, BBC

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BTM listeners, we want to know what you think of the show and what you want to hear more of. Visit ft.com/btmsurvey to submit your feedback. 

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For further reading:

Xi Jinping’s plan to reset China’s economy and win back friends

China’s economy begins to reopen after 3 years of Covid isolation 

China’s Covid generation: the surging inequality behind Xi’s U-turn

I spent 10 days in a secret Chinese Covid detention centre

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On Twitter, follow Tom Hale (@TomHale_), James Kynge (@JKynge) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Electric vehicle giant Tesla took the automotive industry by storm with its innovative technology, but the company’s stock price has slid significantly since last year. And its chief executive Elon Musk has some Tesla fans rethinking their support given Musk’s moves as the new owner of Twitter. But the FT’s Richard Waters says that Tesla faces a challenge much bigger than Musk’s latest tweets. 

Clips from CBS, ABC News, NBC, CNBC

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BTM listeners, we want to know what you think of the show and what you want to see more of. Visit ft.com/btmsurvey to submit your feedback. 

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For further reading:

Trouble at Tesla: the end of a golden age of growth?

Tesla cuts electric car prices across Europe and US to bolster demand

OK, 2022 was a disaster for Tesla. What next?

Musk/multitasking: the cost of being thinly stretched

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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.

The global economy has been hit hard in the past few years by the Covid-19 pandemic, high inflation and Russia’s war in Ukraine. However, there’s one emerging economy that’s managed to succeed in spite of that - Indonesia. So, what’s its secret? We sat down with the FT’s Mercedes Ruehl to understand how the country got to where it is now, and whether that success will be permanent.

Clips from Associated Press

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For further reading:

Indonesia’s unexpected success story

Indonesia’s president steps on to world stage as G20 host

Bauxite: holding resources hostage will impede Indonesia’s growth

Indonesia’s growth outlook dims as Jokowi begins final term

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On Twitter, follow Mercedes Ruehl (@mjruehl) and Michela Tindera (@mtindera07) 

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Welcome back to a new year with Behind the Money! We’re starting off by paying a visit to the New York Public Library to take a peek into the past. Some 300 years ago parts of Europe were in the middle of a financial revolution that quickly turned into a financial frenzy and then — a fallout. With help from the FT’s US markets editor Jennifer Hughes, we’ll learn more about the Mississippi and South Sea Company Bubbles, and what they tell us about today. 

Clips from: NBC, CNBC, CBS News

Music: Georg Philipp Telemann’s Overture-Suite in B-flat Major performed by Tempesta di Mare / The Philadelphia Baroque Orchestra

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Learn how to visit the New York Public Library’s exhibit, Fortune and Folly in 1720. 

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Further reading:

Business trends, risks and people to watch in 2023

FT writers’ predictions for the world in 2023

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On Twitter, follow Jennifer Hughes (@JennHughes13) and Michela Tindera (@mtindera07) 

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

It’s our last episode of the year, so that means we’re looking ahead to 2023 with the help of the FT’s chief economics commentator Martin Wolf. He sat down with Michela to discuss some of 2022’s biggest stories — inflation, the war in Ukraine, climate change — and how they might impact events in the new year. 

Clips from NBC News, AP, Sky News, Channel 4 News, Al Jazeera, CNN, TRT World, Yahoo!

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For further reading:

How to think about policy in a polycrisis

Delay only makes climate action more urgent

Xi Jinping’s third term is a tragic error

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On Twitter, follow Martin Wolf (@martinwolf_) and Michela Tindera (@mtindera07) 

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

Private equity earned a reputation as a ruthless and lucrative business. But over the past few years, large groups have been doing something that seems like the opposite of their cutthroat image: giving equity worth hundreds of thousands of dollars to the ordinary workers at the companies they own. Antoine Gara, the FT’s US private & institutional capital correspondent, explains how these payouts make business sense for private equity firms – and help soften their tough image.

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For further reading:

Workers getting share in windfalls as private equity firms soften image

Private equity groups’ assets struggling under hefty debt loads, Moody’s says

Blackstone plans to list some of its largest investments 

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On X, follow Antoine Gara (@antoinegara) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

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 

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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

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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. 

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For further reading:

Venture capital’s silent crash: when the tech boom met reality

Klarna’s valuation crashes to under $7bn in tough funding round

Venture capital’s delayed rendezvous with reality

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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

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For further reading:

The ethical case for watching this possibly unethical World Cup

Qatar counts down to World Cup kick-off after $200bn soft power bet

How the unlikeliest World Cup ever came to be

Qatar 2022: the weirdest World Cup in history

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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

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For further reading:

How Sam Bankman-Fried seduced blue-chip investors

DD goes forensic on FTX: A deep dive into the crypto collapse that has stunned finance

FTX held less than $1bn in liquid assets against $9bn in liabilities

Hedge fund admits half its capital stuck on FTX exchange

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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

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For further reading:

How Russia secretly takes grain from occupied Ukraine

Russian exit from Ukraine grain deal ‘catastrophic’ for poor nations

Ships going dark: Russia’s grain smuggling in the Black Sea

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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.

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For further reading:

Glitz and Gladwell: the infighting over prized JPMorgan wealth clients

Baseball star Alex Rodriguez at centre of JPMorgan client poaching row

Asset Management: Growth investors adapt to new paradigm

Take our FT Podcast Listener Survey here. 

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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

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For further reading:

US Republicans pull $1bn from BlackRock over ESG investing concerns

BlackRock: ESG tightrope is hard to navigate

Making funding flows fair: Must ESG be bad news for emerging markets?

Greenwashing faces fresh curbs in UK regulator’s crackdown

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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 

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For further reading:

Xi Jinping’s last chance to revive the Chinese economy

China’s property crash: ‘a slow-motion financial crisis’

China growth to fall behind rest of Asia for first time since 1990

China delays key GDP data in middle of Communist party congress 

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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

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For further reading:

Nikola founder Trevor Milton accused of misleading investors at fraud trial

Nikola: the clues in Trevor Milton’s past that investors missed or ignored

US justice department inquires into Nikola fraud claims

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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.

On November 5, voters in the US will head to the polls to decide who should be the next president: Donald Trump or Kamala Harris. But over the past several months, people from around the world have been placing millions of dollars on who will win that race. As interest in betting on US politics reaches a new high, the FT’s Oliver Roeder and Sam Learner explain how these markets work and what can (and can’t) be learned from them. 

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For further reading:

Prediction markets can tell the future. Why is the US so afraid of them?

Take political betting markets literally, not seriously

What the polls can’t tell us about America’s election

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Attend the FT Global Banking Summit, December 3 and 4 in London: Enter BTM20 for a 20% discount (applicable on all ticket types), register here.

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 

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For further reading:

How Wall Street stormed the music business

Blackstone-backed song rights machine suffers growing pains

Another brick in the Wall Street as Blackstone seeks Pink Floyd catalogue

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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.  

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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

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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

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For further reading:

US trade unions: Inside the revival brewing at Starbucks

Joe Biden secures deal to avert US rail strike 

Howard Schultz vows Starbucks rebound after coffee chain ‘lost its way’

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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.