FT News Briefing

The Delta variant raises concerns about Europe’s economic recovery and the effects of renewed restrictions. A key EU lawmaker discusses the Digital Markets Act, aiming to regulate major US tech companies amidst criticism of being anti-American. Meanwhile, the tech startup scene flourishes, as record numbers of 'unicorns' emerge, driven by low interest rates. Plus, a noteworthy achievement in space exploration adds an exciting twist to the tech narrative.

The UK is stepping up efforts to combat misleading crypto marketing, as concerns about the global economy grow. Stock markets are feeling the pressure amidst rising inflation and slower recovery. Meanwhile, the chief economics commentator shares his top summer reading picks, spotlighting influential books on topics from economic growth to the intersection of religion and capitalism. The podcast also reflects on how the COVID-19 pandemic has shaped current economic discussions, including the implications for major events like the Tokyo Olympics.

Donald Trump is making headlines with lawsuits against major social media platforms, claiming censorship. Meanwhile, the Delta variant is raising alarm as infection rates spike, particularly in Europe. The podcast delves into the surge of private equity buyouts in the UK, with brands like Morrisons in the spotlight, and explores public concerns about these takeovers in a changing economic landscape. Additionally, South Africa faces political upheaval with the arrest of Jacob Zuma, adding to the complexity of global economic dynamics.

The podcast dives into Didi's tumultuous IPO, marked by a staggering market value decline after a regulatory crackdown from China. It raises questions about the bankers' knowledge of the looming issues. The discussion shifts to the tensions between Saudi Arabia and the UAE as OPEC faces challenges, highlighting shifting alliances. The Pentagon’s cancellation of a major Microsoft contract adds another layer to the news. Lastly, scrutiny over Hungary's use of EU funds surfaces, raising concerns about transparency and accountability.

KKR is ramping up acquisitions in the UK, aiming to capitalize on post-Brexit opportunities. Oil prices have surged to a three-year high as OPEC struggles with production decisions. Meanwhile, China is intensifying its crackdown on tech companies like Didi Shuxing that have listed in the U.S., raising concerns about tech regulation and U.S.-China ties. In cybersecurity news, a massive ransomware attack has targeted supply chains, highlighting emerging threats. The landscape is shifting, with significant leadership changes at major companies like Amazon.

Madhumita Murgia, the FT’s European technology correspondent, dives into AI's transformative role in healthcare. She highlights how AI is being used in rural India to improve tuberculosis diagnoses, showcasing life-saving innovations. The discussion also tackles racial disparities in pain perception, revealing how AI can bridge these gaps in understanding patient experiences. Murgia emphasizes the balance needed between AI’s potential benefits and the irreplaceable human touch in patient care, addressing biases that can arise in these advanced systems.

A historic global agreement sets a minimum corporate tax rate of 15% for multinationals. Economists predict interest rate hikes by the Federal Reserve, stirring investor interest. Meanwhile, the closure of the pro-democracy Apple Daily in Hong Kong raises serious concerns for media freedom. The newspaper's influential role during the 2019 protests is reflected upon, along with the fearful landscape for journalists facing increased censorship. The international media exodus signals a troubling future for press accountability in the region.

Private equity firms have shattered records with $500bn in deals, driving global M&A activity to new heights. Didi Chuxing, China's ride-hailing giant, has made waves as the largest Chinese company to list in the U.S. fears of chaotic traffic and port congestion post-Brexit were largely unfounded. Effective strategies, such as stockpiling and proactive government measures, helped English Channel ports navigate potential disruptions. Additionally, Tim Berners-Lee's NFT auction ignited interest, selling for a stunning $5.4 million.

The UK is launching a new post-Brexit subsidy plan aimed at boosting industry. Hitachi is making bold moves in the U.S. market, anticipating significant infrastructure spending. Dive into the low-key yet powerful private equity firm TDR Capital behind the £6.8 billion Asda buyout, highlighting their innovative financial strategies. The growing influence of private equity in the UK retail scene raises eyebrows, especially concerning debt financing and traditional fund manager responses. The rise of SPACs adds an intriguing twist to the overall investment landscape.

A US judge has thrown out antitrust lawsuits against Facebook, boosting its stock. Meanwhile, investors are reassessing strategies as the Federal Reserve hints at tighter policies. In Germany, Armin Laschet discusses his vision for the economy and how to balance climate goals with fiscal responsibility. He also addresses the intricate ties between Germany, the U.S., and China. As Germany prepares for elections, the political landscape shifts, reflecting ongoing concerns about inflation and global diplomacy.