Alarm bells over US lending standards
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 25 September 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
BNP Paribas has relaxed a policy that blocked it from financing “controversial weapons”, US debt investors have raised the alarm over lax lending standards in credit markets, and Italy is considering a freeze in its retirement age of 67. Plus, Singapore and Hong Kong want to become major players in the gold market.
Mentioned in this podcast:
BNP Paribas drops pledge not to finance ‘controversial weapons’
US debt investors raise alarm over lending standards
Italy weighs freezing its retirement age at 67
Singapore and Hong Kong shoot for place in gold firmament
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Today’s FT News Briefing was produced by Fiona Symon, Katya Kumkova, Sonja Hutson, and Marc Filippino. Additional help from Blake Maples, Michael Lello and David da Silva. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music 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 | For over 40 years, Equinoor has been an energy partner to the UK. |
| 0:04.1 | During that time, we've played our part in the switch from coal to gas, |
| 0:07.1 | and we're working hard to help the UK's energy transition. |
| 0:10.1 | We may not have all the answers yet, but we're determined to find them. |
| 0:13.5 | Equinor, an energy company, searching for better. |
| 0:16.9 | 99.6% of Equinor's energy output is oil and gas. |
| 0:20.5 | Our investment in renewables and low-carbon |
| 0:22.4 | solutions has increased from 4% in 2020 to 27% in 2024. Find out more at equinor.com. |
| 0:32.1 | Good morning from the Financial Times. Today is Thursday, September 25th, and this is your FT News Briefing. |
| 0:38.7 | A French bank is updating its policy on defense companies, and U.S. debt investors are worried |
| 0:44.0 | about lending standards. Plus, Hong Kong and Singapore want to become hubs for gold trading, |
| 0:50.6 | but do they actually have a shot? I'm Mark Filipino, and here's the news you need to start your day. |
| 1:00.4 | BNP Paraba has quietly dropped a pledge to finance controversial weapons as it tries to boost its work with |
| 1:12.7 | defense companies. That's according to people familiar with the matter. It was part of an update to the |
| 1:18.0 | bank's defense and security sector policy earlier this year. Sources told the FT the term |
| 1:23.7 | controversial weapons, which B&P Paraba has kept around since 2010, was deemed to be |
| 1:29.2 | too broad. |
| 1:30.6 | Now, this shouldn't come as a total surprise. |
| 1:33.5 | European countries are going through a historic rearmament push, and banks want to get |
| 1:37.9 | in on the business from that expected boom in weapons manufacturing. |
| 1:47.7 | U.S. debt investors are worried about lax lending standards in credit markets. |
| 1:52.8 | Trey Kallore, a subprime car lender, collapsed earlier this month. |
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