A mining industry mega-deal
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 26 April 2024
⏱️ 14 minutes
🧾️ Download transcript
Summary
Microsoft beat expectations for revenue and cloud sales, Alphabet shares rise by double-digits after first-quarter earnings beat expectations, markets are no longer fully confident of a US interest rate cut before September, and the EU is turning to draconian tactics to curb migration. Plus, a merger between mining giants BHP and Anglo American could get investors excited about the industry again.
Mentioned in this podcast:
Alphabet shares surge past $2tn after search giant unveils first ever dividend
Microsoft’s revenue and cloud sales beat expectations
Biden dealt blow as investors scale back bets on pre-election rate cut
Why is BHP bidding for Anglo American?
BHP proposes £31bn takeover of Anglo American in mining mega-deal
How Europe is paying other countries to police its borders
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Denise Guerra, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | At Aquinore. UK. Good morning from the Financial Times. Today is Friday, April 26th, and this is your |
| 0:18.8 | FT news briefing. Microsoft and Alphabet beat out meta this week, and a proposed merger of two big |
| 0:27.0 | companies could reshape mining. |
| 0:30.0 | Plus, the European Union is tightening its border and using other countries to do it. |
| 0:36.0 | But it's been quite well reported in that case for example that this led to terrible human rights abuses. |
| 0:41.0 | I'm Sonia Hudson and here's the news you need to start your day. Microsoft and Alphabet had a great day yesterday. |
| 0:53.0 | Both companies' earnings reports showed their revenues increased by about 15% and beat expectations. |
| 1:10.0 | Alphabet also announced its first ever dividend. |
| 1:14.7 | All eyes have been on these big tech companies to see if their investment in artificial intelligence |
| 1:19.5 | is paying off. |
| 1:21.6 | Earlier this week, Meta's share price fell after it announced it would be spending a lot more on AI infrastructure. |
| 1:29.0 | But investors were happy with Microsoft and Alphabet yesterday and their stocks jumped. |
| 1:34.6 | The tech giants did report spending more money on AI in the past quarter, but Microsoft |
| 1:40.2 | had already warned about that back in January, and Alphabet's operating margin increased |
| 1:45.8 | from a year ago. The Big Mining company BHP wants to take over its rival Anglo-American and it's offering 31 billion |
| 2:01.1 | pounds to do it. If approved the merger would be one of the most |
| 2:05.2 | significant transformations for the industry in years. Here to talk to me about it is |
| 2:10.5 | the FT's Harry Dempsey. Hi Harry. Hi. So walk me through this |
| 2:16.0 | announcement yesterday from BHP. What's it looking for with Anglo American? |
| 2:21.7 | So the key thing that BHP wants is copper. And copper is absolutely |
... |
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