Digital cash and culture wars
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 15 September 2023
⏱️ 10 minutes
🧾️ Download transcript
Summary
Shares in chip designer Arm jumped by 25 per cent as it began trading on the Nasdaq exchange yesterday, and the European Central Bank has raised interest rates to an all-time high. Plus, the FT’s Siddharth Venkataramakrishnan explains how digital cash got caught up in the culture wars.
Mentioned in this podcast:
Arm shares jump by 25% on first day of trading
ECB raises interest rates to all-time high
How digital cash got caught up in the culture wars
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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 |
| 0:10.2 | Good morning from the Financial Times. |
| 0:11.8 | Today is Friday, September 15th, and this is your FT News Briefing. |
| 0:18.5 | Investors loved ARM during its first day on the public market, |
| 0:22.9 | and the European Central Bank is stuck between a rock and a hard place. |
| 0:27.2 | Plus, we'll look at how digital cash got caught up in culture wars. |
| 0:31.9 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:42.8 | The British chip designer ARM had a great initial public offering. |
| 0:46.6 | It shares jumped 25% yesterday to get to more than 63 bucks a share. |
| 0:52.0 | The Japanese conglomerate Softbank owns ARM. |
| 0:55.0 | It raised almost $5 billion from the IPO. |
| 0:58.7 | That makes it the largest US listing in almost two years. |
| 1:03.0 | ARM's stellar opening day is expected to fuel confidence in the IPO market more broadly. |
| 1:08.3 | IPOs for Grocery Delivery App Instacart and Marketing Software Group Clay Vio |
| 1:13.4 | are expected to provide a further test of investor appetite next week. |
| 1:22.5 | The European Central Bank raised interest rates by 25 basis points yesterday. |
| 1:26.8 | They're now at an all-time high. |
| 1:29.1 | But the ECB signal that its tightening cycle may come to an end soon. |
| 1:33.7 | Here to explain is the FT's Martin Arnold. |
| 1:36.1 | I'm Martin. |
| 1:36.9 | Hello, Mark. |
... |
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