Disney vs France
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 18 October 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
Strong US bank earnings reports pumped up Wall Street stocks and new UK chancellor Jeremy Hunt scrapped the bulk of his party’s controversial proposed tax cuts. Plus, Disney agreed to release ‘Black Panther: Wakanda Forever’ in French cinemas next month but warned that its biggest movies may go straight to streaming in 2023.
Mentioned in this podcast:
Wall Street stocks rally as traders turn to corporate earnings
Jeremy Hunt scraps tax cuts and slashes energy package in bid to calm markets
Disney warns France that future blockbusters may bypass cinemas
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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.
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, October 18th, and this is your FT News Briefing. |
| 0:18.8 | US stocks bounce back a little yesterday, and Disney is so frustrated with the French |
| 0:24.6 | movie industry system that it's threatening to withhold big releases from French cinemas. |
| 0:30.0 | Another dirty secret in France is that, you know, much like French people go to McDonald's a lot, |
| 0:34.8 | they also go to see a lot of Hollywood blockbusters. These movies tend to do really, really well here. |
| 0:39.6 | We'll find out what the drama is about. |
| 0:41.3 | And speaking of drama, the majority of the UK's controversial mini budget has been scrapped. |
| 0:46.8 | Financial markets are relieved for the moment, but what does this mean for people? |
| 0:51.0 | We want to hear from you. |
| 0:52.7 | I'm Mark Filipino, and here's the news you need to start your day. |
| 1:00.4 | Wall Street had a good day yesterday, which is a big deal because stocks are mostly down these |
| 1:07.9 | days. The S&P 500 finished the day more than two and a half percent higher. The tech heavy |
| 1:12.4 | NASDAQ gained just shy of three and a half percent. The FT's Keat Dew Good describes yesterday |
| 1:18.2 | as a bear market rally, partly driven by Bank of America's earnings report. |
| 1:23.0 | So Bank of America yesterday announced earnings, and they performed better than expected. |
| 1:30.7 | They raised their annual outlook for revenue and attributed it to strong consumers. |
| 1:36.5 | They said that spending across debit and credit cards has jumped as well as consumer loans. |
| 1:41.7 | And so this gives us a little bit more confidence in the fate of the US consumer. |
| 1:47.2 | But, you know, that's not the whole story here. |
... |
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