FT News Briefing

Chinese cities are intervening in the Evergrande crisis, seizing presale funds to prevent misuse. The SPAC bubble is losing steam as investors withdraw funds at a rapid pace. Economists warn that new abortion restrictions in the U.S. could harm women economically. The discussion shifts to 'Forever CEOs' in Wall Street, examining how long tenures affect leadership diversity and morale, while noting the high pay and limited opportunities for upcoming leaders in finance.

Janan Ganesh, a prominent FT columnist, shares his reflections on how the lockdown impacted people's lives. He argues that lockdown hasn’t changed him but worries about its effects on others. The conversation explores the 'Treat Brain' phenomenon, revealing how indulgences have become a coping mechanism during the pandemic. Additionally, Maria Shollenbarger transports listeners on the luxurious Orient Express, discussing its historical significance and the evolving nature of luxury travel. It’s a fascinating dive into behavior, change, and indulgence.

As Germany gears up for a crucial election, the race remains unpredictably tight with many undecided voters. Young voters are prioritizing climate and digital issues, shaping the political landscape anew. In Turkey, a surprising interest rate cut complicates economic expectations amid soaring inflation. The discussion also touches on international tensions, particularly regarding criticisms of the AUKUS security pact and its implications for NATO allies. The uncertainty surrounding coalition formations raises questions about future fiscal policies.

The Federal Reserve hints at tapering its bond-buying stimulus and potential interest rate hikes by 2022, sparking market discussions. Japan's SoftBank backs a new $2.5 billion private equity fund led by Steven Mnuchin, just months after his tenure. Meanwhile, China’s Evergrande property crisis reveals critical flaws in its growth strategy, exposing millions of unsold apartments and financial strains on local governments. This situation raises questions about global economic stability and geopolitical dynamics.

Gulf states are caught in a complex tug-of-war between the US and China, trying to maintain a balance in their shifting alliances. The evolving economic landscape sees a stronger partnership with China, especially in technology and renewable energy. Meanwhile, Uber is on track for its first profitable quarter after years of losses, emphasizing the challenge of profit in the ridesharing industry. Additionally, discussions about EU funding consequences for Poland and Hungary due to human rights issues add another layer to the geopolitical narrative.

Global markets are anxiously eyeing the debt crisis of the Chinese property giant Evergrande, but experts argue it's not a scenario akin to Lehman Brothers. Foreign investors, particularly from China and Japan, are stepping in to stabilize U.S. Treasuries amid Federal Reserve uncertainties. Additionally, Coinbase has scrapped its lending product plans due to SEC pressure. On a lighter note, a collaboration between a Russian firm and a U.S. brewery is resulting in ultra-low carbon beer cans, showcasing innovative sustainability in design.

James Kynge, Global China editor at the Financial Times, dives deep into China's intricate web of data control and regulation. He discusses how Beijing is reshaping major tech platforms like Alipay, pushing for state ownership and centralization. Kynge highlights the tech industry's challenges under the Communist Party's tightening grip, raising concerns for innovation and investment. He also sheds light on Xi Jinping's vision for an authoritarian society, with extensive surveillance that influences everyday life. A thought-provoking insight into China's digital dictatorship!

Elif Shafak, a prominent Turkish-British novelist and advocate for freedom of speech, discusses her experiences writing in restrictive environments. She shares insights about her latest work, The Island of Missing Trees, exploring themes of identity and cultural heritage. The conversation touches on the impact of childhood memories on personal narratives and the importance of nuanced storytelling in addressing historical trauma. Shafak emphasizes the power of stories to foster understanding and connection in a divided world.

Laos is boldly stepping into the crypto world by authorizing cryptocurrency mining and trading, thanks to its abundant hydropower resources. Meanwhile, the European Central Bank anticipates reaching its inflation target by 2025. The podcast also sheds light on the ongoing struggles of Myanmar's shadow government against military forces. Plus, it examines the challenges regulators face in monitoring cryptocurrency activities amidst rising criminal concerns and the impact on traditional banking.

A new security partnership between the US, UK, and Australia aims to bolster defenses against China through nuclear submarines. In Canada, Prime Minister Trudeau faces a brewing challenge from the Conservative Party as elections loom. Meanwhile, Amazon is diving into healthcare, leveraging voice technology to enhance surgical efficiency and aiming to integrate its vast resources into the medical field. However, the company faces skepticism from competitors and regulatory hurdles, particularly in its plans affecting Didi Chuxing's market presence.