FT News Briefing

Credit Suisse became the first Swiss bank in the country’s history to answer criminal charges on Monday, and the US is lobbying Brussels to water down the effect of EU regulations targeting Big Tech companies. Plus, we talk to the author Horatio Clare about the UK town of Dover and how people there are approaching the migrant crisis.  Mentioned in this podcast: Landmark Credit Suisse money laundering trial opens US officials lobby key European powerbroker on Big Tech regulations Life and death on Dover’s migrant front line The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.  Read a transcript of this episode on FT.com  See acast.com/privacy for privacy and opt-out information.

A week of dizzying diplomatic meetings seeking to de-escalate tensions with Russia kicks off today in Moscow and Washington, aid agencies call for unblocking of cash flows to Afghanistan as the humanitarian crisis deepens. Plus, the FT’s Anna Gross takes us inside a French refugee camp to hear the stories of the people who are seeking asylum in the UK.  Mentioned in this podcast: Ukraine: EU wrestles with how to inflict sanctions ‘pain’ on Russia Aid agencies call for unblocking of cash flows to Afghanistan as humanitarian crisis deepens Afghanistan’s unnecessary plight The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.  Read a transcript of this episode on FT.com  See acast.com/privacy for privacy and opt-out information.

This weekend, we look at the Peloton phenomenon. Is it a failing fitness cult or a lasting way to stay healthy? Lilah and San Francisco correspondent Patrick McGee explore the behavioural science behind why we don’t exercise and the tech that tricks our brains into doing it anyway. Then, management editor Andrew Hill tells us why so many bad business books exist at the airport, and what makes a good one -------------- If you want to explore the FT, use this link for special discounts for listeners: http://ft.com/weekendpodcast -------------- Want to say hi? We love hearing from you. Email us at ftweekendpodcast@ft.com. We’re on Twitter @ftweekendpod, and Lilah is on Instagram and Twitter @lilahrap.  -------------- Links and mentions from the episode:  –Patrick McGee on how connected fitness became the new obsession: https://on.ft.com/32YplFd –Andrew Hill: ‘Pulp non-fiction: the worst business books of 2022’: https://on.ft.com/34ao7Hz  –All the winners and shortlisted books for FT and McKinsey's best business books of the year award https://ig.ft.com/sites/business-book-award/  –If you want to read more about the culture of Peloton, here’s ‘This is your brain on Peloton’, by Amanda Hess (NYT): https://www.nytimes.com/2021/03/16/arts/peloton-cody-rigsby-content.html  –Anne Helen Peterson is the unofficial internet scholar on Peloton celebrity: https://annehelen.substack.com/p/towards-a-unified-theory-of-peloton  -------------- Original music by Metaphor Music. Mixing and sound design is by Breen Turner.  See acast.com/privacy for privacy and opt-out information.

Wall Street stocks slumped on Thursday after disappointing earnings reports in the technology sector from Facebook parent Meta, Turkey and Ukraine signed a deal to deepen defence co-operation in defiance of warnings from Moscow, and Olympics sponsors are accused of ignoring the plight of China’s Uyghur Muslims. The FT’s Andrew Edgecliffe-Johnson talks about the pressure on companies and how they are responding.  Mentioned in this podcast: Amazon shares surge on Prime price rise and boost from cloud division Beijing Olympics: the new front line in the US-China cold war Erdogan visit to Ukraine tests complex ties with Putin  US stocks dragged lower by downbeat tech earnings The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.  Read a transcript of this episode on FT.com  See acast.com/privacy for privacy and opt-out information.

Spotify delivered a weak outlook for first-quarter subscriber growth, investors are putting more pressure on the European Central Bank to raise interest rates, and Argentina has been plunged into a fresh crisis after a crucial political figure resigned over the country’s outline debt deal with the International Monetary Fund Mentioned in this podcast: Spotify warns it’s ‘too early’ to calculate impact of Joe Rogan row Eurozone inflation hits record 5.1% in January Resignation of Peronist leader triggers crisis over Argentina’s $44.5bn IMF deal The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.  Read a transcript of this episode on FT.com  See acast.com/privacy for privacy and opt-out information.

Alphabet announced a 20-for-one stock split on Tuesday, and businesses across Myanmar shut up shop yesterday, joining a nationwide “silent strike” to mark the first anniversary since a military coup. The FT’s commodities correspondent, Emiko Terazono, explains that the slowing growth of plant–based meat sales has taken executives by surprise.  Subscribe to the FT News Briefing on Apple Podcasts or Spotify Mentioned in this podcast: Google parent Alphabet posts surge in search advertising revenue Myanmar businesses defy army nationalisation threat and join strike  Has the appetite for plant-based meat already peaked? M&S and Aldi make peace in Colin and Cuthbert cake war The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.  Read a transcript of this episode on FT.com  See acast.com/privacy for privacy and opt-out information.

The US stock market has suffered its worst start to the year since the global financial crisis, US and European allies are preparing what is being described as the most aggressive package of economic and financial sanctions ever assembled to punish Russian president Vladimir Putin, and Italian government bonds rallied as investors welcomed the re-election of Sergio Mattarella as president.  Subscribe to the FT News Briefing on Apple Podcasts or Spotify Mentioned in this podcast: US stock markets endure worst January since global financial crisis US and European allies ready aggressive sanctions against Russia Draghi gains vital time for policy revamp after Italy re-elects Mattarella as president Sony buys video game maker Bungie for $3.6bn as dealmaking accelerates The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.  Read a transcript of this episode on FT.com  See acast.com/privacy for privacy and opt-out information.

The world’s largest sovereign wealth fund has warned that investors face years of low returns due to permanent inflation, and splits are emerging in corporate America’s response to a supply chain crisis. Plus, the FT’s Europe editor, Ben Hall reports from the Ukraine city of Mariupol about how people view a potential Russian invasion.  Subscribe to the FT News Briefing on Apple Podcasts or Spotify Mentioned in this podcast: World’s largest wealth fund warns ‘permanent’ inflation will hit returns Ukrainian frontier city weighs threat of renewed Russian aggression Winners and losers emerge from lingering US supply chain crisis Tui raises €500m fund to finance new hotels The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.  Read a transcript of this episode on FT.com  See acast.com/privacy for privacy and opt-out information.

This week, we look at two things that connect us to human history. First, How To Spend It editor Jo Ellison takes us mudlarking — sifting through low tide for treasure — to find remnants of ordinary life from hundreds of years ago. Licensed mudlark Lara Maiklem teaches us how. Then we explore the staying power of games: why do we love them? Why have we been playing some for more than 7,000 years? Our gaming critic Tom Faber joins us to discuss.  -------------- If you want to explore the FT, use this link for special discounts for listeners: http://ft.com/weekendpodcast -------------- Want to say hi? We love hearing from you. Email us at ftweekendpodcast@ft.com. We’re on Twitter @ftweekendpod and Lilah is on Instagram and Twitter @lilahrap.  -------------- Links and mentions from the episode:  – This week’s How To Spend It cover story and photoshoot: ‘Tide and seek: the hidden treasures of low tide’ https://www.ft.com/content/44a1a5be-d0de-4a5a-a02b-1386e0b7c84f  –Lara Maiklem’s books are called ‘Mudlarking’ and ‘A Field Guide to Mudlarking’ –Last time Jo went mudlarking was with jeweller Ruth Tomlinson for this November 2021 article: ‘Why I’m throwing my jewellery into the Thames’: https://www.ft.com/content/aacc19ef-d397-4c15-b943-a029a4954ca1  –A great piece Lilah recommends on mudlarking by novelist Daniel Wallace: https://gardenandgun.com/feature/daniel-wallace-explores-the-art-of-mudlarking/  –Tom Faber on the transformative power of games: https://www.ft.com/content/c2f8b5b6-1f30-48cc-a098-71484ded9a00  –Tom also wrote a great piece this week about the Cameo app and celebrity culture: https://on.ft.com/3FIF7kF  -------------- Original music by Metaphor Music. Mixing and sound design is by Breen Turner.  See acast.com/privacy for privacy and opt-out information.

Apple posted record revenue of $123.9bn in the holiday quarter, and investors had a tough time gauging the Federal Reserve’s hawkish tone, the UK’s new information watchdog says he wants the country to take the lead on holding Big Tech to account in a post-Brexit Britain free of cumbersome European data rules. Plus, the FT’s European diplomatic correspondent, Henry Foy, reports that western countries are threatening Russia with new sanctions if it invades Ukraine.  Subscribe to the FT News Briefing on Apple Podcasts or Spotify Mentioned in this podcast: Apple’s holiday quarter revenue hits record despite supply chain worries EU and UK plan sanctions on new Russian gas projects if Ukraine attacked ‘No more Mr Nice Guy’: Fed chair signals tougher stance on inflation UK seeks leadership role in global privacy, says new watchdog head The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by David, da Silva, Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.  Read a transcript of this episode on FT.com  See acast.com/privacy for privacy and opt-out information.

Tesla reported a record net profit of $2.3bn last quarter but warned of supply chain constraints and the Federal Reserve signalled its intention to raise interest rates in March. Plus, the FT’s China correspondent, Ed White, talks about China’s vaping queen and her company's stock price which went up in smoke this week.  Mentioned in this podcast: Tesla reports record profit but warns of constraints on supply chain Fed signals March rate rise as it fights rampant inflation China’s vape queen hit by Beijing investigation Apple reclaims top smartphone spot in China The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Read a transcript of this episode on FT.com  See acast.com/privacy for privacy and opt-out information.

Google has overhauled a central piece of technology it is building to replace advertising cookies, and the owner of 7-Eleven is facing investor calls to split up. Plus, the FT’s Rome correspondent, Amy Kazmin, explains why Italy is having such a hard time finding someone who can be prime minister if Mario Draghi is elected president.  Mentioned in this podcast: Google changes course on cookies plans following advertising industry backlash 7-Eleven owner faces investor calls to split up The Draghi dilemma: Italian presidential election risks turbulence The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Read a transcript of this episode on FT.com  See acast.com/privacy for privacy and opt-out information.

Stocks on Wall Street ended higher on Monday after investors took advantage of a severe drop early in the session, Peloton has come under attack from an activist investor, and the United Arab Emirates said it intercepted two missiles launched by the Iran-allied Houthi rebels in Yemen.  Mentioned in this podcast: US stocks reverse severe losses as buyers step in UAE intercepts ballistic missiles fired by Houthis over Abu Dhabi Activist investor urges Peloton to fire chief and explore sale How connected fitness became the new obsession Robert Armstrong’s “Unhedged” newsletter The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.  Read a transcript of this episode on FT.com  See acast.com/privacy for privacy and opt-out information.

Germany’s largest publishers and advertisers are demanding that the EU intervene over the Google's plan to stop the use of third-party cookies, Sony has plans to enter the electric vehicle market. Plus, the FT’s asset management correspondent, Harriet Agnew, discusses the discord at the global consumer goods conglomerate Unilever.  Mentioned in this podcast: German publishers oppose Google plan to phase out third-party cookies Activist hedge fund Trian builds stake in Unilever Sony launches electric vehicle unit to ‘explore entering’ market  The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.  Read a transcript of this episode on FT.com  See acast.com/privacy for privacy and opt-out information.

This weekend, we look at our culture through new lenses. First, we go to Mexico. Lilah speaks to James Beard Award-winning chef Pati Jinich about how diplomacy is sometimes better achieved through the language of food. Then, anthropologist and FT columnist Gillian Tett looks at social phenomena through the lens of anthropology – from crypto to how tastemakers decide what is 'cool'. Gillian has a PhD in social anthropology and recently published a book called ‘Anthro-Vision’.  -------------- If you want to explore the FT, use this link for special discounts for listeners: http://ft.com/weekendpodcast -------------- Want to say hi? We love hearing from you. Email us at ftweekendpodcast@ft.com. We’re on Twitter @ftweekendpod, and Lilah is on Instagram and Twitter @lilahrap.  -------------- Links and mentions from the episode:  –Pati’s cookbook is called ‘Treasures of the Mexican Table: Classic Recipes, Local Secrets’ –Pati’s show, ‘Pati’s Mexican Table’ is on PBS, with some episodes on YouTube: https://www.youtube.com/watch?v=BETE1-6Pzrk  –La Frontera is on PBS: https://www.pbs.org/show/la-frontera-pati-jinich/  –Salsa Matcha with pistachios, walnuts and pine nuts: https://patijinich.com/salsa-macha-with-pistachios-walnuts-and-pine-nuts/  –Gillian Tett’s book is called ‘Anthro-Vision’. FT review: https://www.ft.com/content/65d66cf7-f793-4531-9b82-1b54b70bbd21  – Gillian’s latest column: ‘A year on, we haven’t absorbed the lessons of the Gamestop saga’ (paywall): https://www.ft.com/content/8bbd2ef9-41fe-4dfa-8f02-28b3f3dac200     -------------- Original music by Metaphor Music. Mixing and sound design is by Breen Turner.  See acast.com/privacy for privacy and opt-out information.