Binance hid links to China
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 30 March 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
Social media giant Meta is deliberating a company-wide ban on political advertising in Europe, crypto exchange Binance hid substantial links to China, and UBS is bringing back Sergio Ermotti to lead the bank as it integrates Credit Suisse. Plus, the FT’s Eleanor Olcott explains why China’s ecommerce giant Alibaba is splitting into six business units.
Mentioned in this podcast:
Meta bosses look at political ads ban in Europe
Why UBS brought Sergio Ermotti back as chief executive
Binance hid extensive links to China for several years
Alibaba bets on split to survive Chinese tech’s new battlefields
Behind the Money podcast: Inside UBS’ takeover of Credit Suisse
Download the FT Edit app here: ft.com/ftedit
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. 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
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.9 | Good morning from the Financial Times. |
| 0:12.1 | Today is Thursday, March 30th, and this is your FT News Briefing. |
| 0:18.7 | One of the world's biggest online retailers is splitting itself up into six smaller companies. |
| 0:24.6 | The world's biggest crypto exchange says it's got nothing to do with China anymore, |
| 0:29.2 | but our reporter finds otherwise. |
| 0:31.8 | And Switzerland's biggest bank, UBS, is calling in a new CEO as it prepares to digest credit |
| 0:38.2 | suites. I'm Mark Philippineau, and here's the news you need to start your day. |
| 0:52.0 | Social media giant Meta is considering a ban on political ads in Europe. Meta executives are |
| 0:58.0 | concerned that its social networking platforms like Facebook and Instagram won't comply with |
| 1:03.2 | the European Union regulations that are in the works. The European Union is working on new laws |
| 1:08.6 | to force big tech companies to reveal more information about the political groups behind online |
| 1:13.9 | campaigns and which users they're targeting. Sources tell the FT that Meta is concerned that the |
| 1:19.5 | EU's definition of a political ad will be too broad, and that would make it easy to refuse |
| 1:25.3 | all paid for political campaigns on the company sites. |
| 1:34.4 | Switzerland's biggest bank, UBS, is about to swallow its rival Credit Suisse in a rescue |
| 1:39.9 | deal brokered by Swiss authorities last week, but UBS's board decided they want a different CEO |
| 1:46.0 | to manage the process. So they called in someone familiar. Sergio Urmotti ran UBS from 2011 to 2020. |
| 1:54.3 | He replaced outgoing head Ralph Hammers. Here's our European banking correspondent on Walker. |
| 2:00.6 | Sergio was at UBS. He was CEO for nine years, and in that time he led a very successful drive |
| 2:08.8 | to cut back the investment bank and to really refocus a business on wealth management. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.