China makes a show of corporate raiding
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 11 May 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
Disney sharply reduced its losses from video streaming in the second quarter, US inflation dipped to its lowest level since April 2021, and the FT’s Joe Leahy explains China’s crackdown on foreign business due diligence firms, including Capvision, Bain and Mintz.
Mentioned in this podcast:
Disney shaves streaming losses as subscription fees rise
US inflation eases to 4.9% in April as Fed tightening takes effect
China raids multiple offices of international consultancy Capvision
Spotify ejects thousands of AI-made songs in purge of fake streams
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Katie McMurran, 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
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Transcript
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| 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 |
| 0:10.3 | Good morning from the Financial Times. |
| 0:11.8 | Today is Thursday, May 11th, and this is your FT News Briefing. |
| 0:18.8 | Disney's whipping its streaming services into shape, |
| 0:21.9 | and US inflation showed signs of easing. |
| 0:25.0 | Plus, Chinese authorities have been rating the offices of foreign business consultants, |
| 0:29.5 | and they want everybody to know about it. |
| 0:32.0 | This was the government really coming out and saying, be careful. |
| 0:36.4 | A Mark Filipina out here's the news you need to start your day. |
| 0:48.3 | Disney's CEO Bob Eiger has been under pressure to stop all the losses at its streaming services, |
| 0:53.8 | like Disney Plus and Hulu. |
| 0:56.0 | And he seems to be doing something, right? |
| 0:58.2 | Yesterday, the entertainment giant reported earnings and said it had reduced |
| 1:01.9 | streaming losses by 26% from last year. |
| 1:05.2 | Disney said it did that partly by cutting marketing costs, |
| 1:09.1 | and streaming revenue rose 12%. |
| 1:11.4 | But that's thanks to higher fees. |
| 1:14.0 | The company said total subscribers, they fell from the previous quarter, but just slightly. |
| 1:19.6 | US inflation seems to have eased a bit. |
| 1:29.2 | Data out yesterday shows that the inflation rate in April dipped to 4.9%. |
| 1:34.4 | That's a cinch lower than the previous month, but it's still the lowest level in two years. |
... |
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