China’s moves in the South Pacific
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 27 April 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
US tech stocks fell to their lowest level in more than a year, the Brexit trade deal has caused a “steep decline” in UK trade with the EU, Chinese businesses have scoured the globe for important strips of land including islands in the South Pacific.
Mentioned in this podcast:
Alphabet earnings decline as online advertising momentum slows
UK-EU trade relationships tumble after Brexit
The Chinese companies trying to buy strategic islands
US steps up efforts to court Solomon Islands after China security deal
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva, and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
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 |
| 0:09.8 | Good morning from the Financial Times. |
| 0:11.5 | Today is Wednesday, April 27th. |
| 0:13.7 | And this is your FT News Briefing. |
| 0:19.2 | The Nasdaq Composite fell to its lowest level in more than a year. |
| 0:22.9 | A new study shows the impact that Brexit's had on small businesses. |
| 0:26.8 | It's not good. |
| 0:28.3 | Plus, we'll find out about Chinese companies that are trying to lease property |
| 0:31.8 | on South Pacific Islands. |
| 0:34.8 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:44.9 | The Nasdaq Glossed 4% of its value yesterday. |
| 0:48.6 | Part of that was Tesla shares. |
| 0:50.4 | They dove 12% a day after its CEO Elon Musk struck a deal to buy the social media site Twitter. |
| 0:57.1 | But investors are also nervous about inflation and rising interest rates and their |
| 1:01.7 | impact on tech earnings. Turns out they were right to be concerned. |
| 1:05.8 | After the close of trading, Google's parent company Alphabet announced first quarter |
| 1:09.6 | earnings that just missed Wall Street expectations. |
| 1:13.2 | But shares still dropped more than 6% after the bell. |
| 1:16.8 | Microsoft beat expectations and announced strong growth in its cloud business. |
| 1:21.2 | But it shares still fell and after hours trading. |
| 1:27.2 | One of the biggest questions surrounding Brexit was, |
... |
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