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FT News Briefing

Corporate America after the Capitol insurrection

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.41.3K Ratings

🗓️ 6 January 2022

⏱️ 11 minutes

🧾️ Download transcript

Summary

Read a transcript of this episode on FT.com

https://www.ft.com/content/31290819-a321-496e-a995-4281198ec453


Minutes from the latest Federal Reserve meeting show the US central bank gearing up for more aggressive tightening, tech stocks plummeted, Hong Kong is bracing for sharply higher food prices, and one of Germany’s biggest utilities, Uniper, has been forced to seek €10bn of financing to avoid a cash crunch. Plus, the FT’s US business editor, Andrew Edgecliffe-Johnson, talks about corporate America in the year since a mob of Trump supporters stormed the US Capitol. 


Fed warns faster rate rises may be needed to tame soaring inflation

https://www.ft.com/content/35766dd4-7da1-4064-9e60-79a714297c5a


Uniper secures €10bn of credit as gas prices surge

https://www.ft.com/content/f8cdfafc-2ce4-4ad7-b8c4-98e6eaa6ce89


Isolated Hong Kong faces higher food prices as pandemic restrictions bite

https://www.ft.com/content/f31edc79-f7df-48d7-badf-5d074cb19afd


US companies under pressure to support voting rights push

https://www.ft.com/content/712d9e1a-68dc-451e-a094-0d7db570dfd7


Twitter Spaces: After the Capitol Riot, what role will civil unrest play  

https://twitter.com/i/spaces/1djGXPDOgrzGZ


Audio from the January 6th Capitol riot provided by CSPAN


The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber 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. 


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

0:09.8

Good morning from the Financial Times.

0:11.5

Today is Thursday, January 6th, and this is your FT News Briefing.

0:18.2

The Federal Reserve released minutes from its latest meeting in tech stocks nose-dived.

0:23.6

One of Germany's biggest utilities has turned to the government to get through a cash crunch

0:28.2

and on this day last year a mob of Trump supporters stormed the US capital.

0:33.0

Corporate America quickly condemned the attack, so what have companies done since then?

0:38.4

They've decided that they'd rather come out and support democracy anyway,

0:42.8

even if that means taking some heat because they feel it's going to put them on the right side

0:46.6

of the issue. I'm Mark Filipino and here's the news you need to start your day.

0:51.4

The Fed may need to raise interest rates sooner or at a faster pace than officials initially

1:01.4

expected, as according to minutes from December's Fed meeting. They were released yesterday

1:06.3

and also show officials are fully on board with a faster scaleback of the Central Bank's asset

1:11.6

purchase program. That would give the Fed greater flexibility to raise interest rates this year.

1:17.3

After the minutes came out, there was a powerful sell-off in tech stocks,

1:20.8

the Nasdaq plunged more than 3%, the S&P 500 ended the day down nearly 2%.

1:27.2

But as investors sold off tech, they've been moving into banks, industrial groups,

1:31.8

and energy producers, companies whose fortunes are linked to an economic recovery.

1:37.0

European power companies are struggling amid the ongoing energy crisis due in part to a slowdown

1:48.6

in gas supplies from Russia. Yesterday, one of Germany's biggest utilities,

1:53.2

Uniper, said it was forced to seek 10 billion euros of extra financing,

...

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