Could the 4-day work week…work?
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 6 December 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
US stocks fell after new data showed the US services sector grew last month, PwC plans to take advantage of uncertainty at EY by poaching some of its rival’s most senior executives, and China is catching up to Europe in EV battery production. Plus, the FT’s Working It podcast host, Isabel Berwick, talks about a multi-part series on the four-day work week.
Mentioned in this podcast:
US stocks stumble after hotter than expected services data
PwC targets rival EY in bid to expand partnership
Working It podcast series: Four days work for five days pay
Read: The 4-day week: does it actually work?
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.
Note: This episode incorrectly identifies Bank Benitez as the current chief executive of the company of Uncharted. He is the former chief executive.
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. |
| 0:11.3 | Today is Tuesday, December 6th, and this is your FT News Briefing. |
| 0:19.4 | US investors did not like the latest data out of the American Services sector. |
| 0:24.5 | Price Waterhouse Coopers is prepared to poach senior executives from its rival Ernst & Young, |
| 0:29.6 | and Chinese battery makers are coming for Europe. |
| 0:32.8 | Plus, have you ever dreamed about a four-day work week? |
| 0:35.5 | Of course you have. |
| 0:36.5 | Some places are turning that dream into a reality. |
| 0:40.0 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:51.5 | The American Services sector grew last month, marking 30 straight months of growth. |
| 0:56.5 | The Institute for Supply Management came out with its monthly report yesterday. |
| 1:00.4 | The ISM found that its index that tracks economic activity in the services sector |
| 1:05.3 | rose 2% from October to November. |
| 1:08.6 | Services in this case include industries like hospitality, transportation, and construction. |
| 1:14.6 | Investors took that news hard. |
| 1:16.4 | The S&P 500 was down as much as 2% yesterday. |
| 1:20.0 | Stocks have been riding higher recently on the idea that inflation had peaked, |
| 1:24.4 | and that the Federal Reserve might be ready to slow the pace of interest rate increases. |
| 1:34.5 | PWC is trying to take advantage of an uncertain time for its rival EY. |
| 1:39.6 | You might remember that EY is going to vote on whether to spin off its advisory operations |
... |
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