Europe’s IPO boom, Bitcoin hits new record, China’s corn spree
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 12 February 2021
⏱️ 11 minutes
🧾️ Download transcript
Summary
Europe’s IPO market is off to its strongest start in five years thanks to a flurry of tech and ecommerce listings, Disney continues to attract subscribers to its streaming service, and China’s massive corn purchases have sent the price of the crop soaring. And the FT’s markets editor, Katie Martin, shares her thoughts on Elon Musk’s excitement over cryptocurrencies and whether it will spur wider adoption of digital currencies.
European IPOs mark best start to year since 2015 with €8bn haul
https://www.ft.com/content/171ea5f4-b3f4-4e76-bb13-2480879d1bd0?
Elon Musk’s effect on crypto world shows how irrational markets are
https://www.ft.com/content/92ab487d-1990-42b9-b7d3-ba9d54d9bd22
Disney Plus added 8m subscribers over Christmas
https://www.ft.com/content/49581411-5650-4448-8325-ce12f85ee86b
China’s record purchase of corn a ‘watershed moment’ for grain market
https://www.ft.com/content/94b04a3e-6169-4b07-8218-413138c641a1?
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Friday, February 12th. |
| 0:03.7 | And this is your FT News Briefing. |
| 0:08.8 | European IPOs are off to a hot start this year. And so is Corn. China can't get enough of the grain |
| 0:15.6 | and its causing prices to surge. Disney attracted millions more viewers to its Disney Plus streaming |
| 0:21.4 | service, but that wasn't enough to outweigh the entertainment companies to theme park troubles. |
| 0:26.2 | Plus Elon Musk may be Bitcoin's most effective cheerleader, but how close is the crypto currency |
| 0:32.0 | to mainstream use? We'll talk about the possibility. I'm Mark Filipino, and here's the news you |
| 0:37.2 | need to start your day. |
| 0:44.4 | Companies are floating in European public markets at a rate we haven't seen in years. |
| 0:49.3 | Initial public offerings on Europe's stock exchanges have sold nearly 8.5 billion euros in |
| 0:54.2 | equity through 16 deals. That's according to data provider Refridative, the European IPO market |
| 0:59.7 | hasn't had such a hot start to a year since 2015. A majority of the equity sold about 70% |
| 1:06.4 | was in companies that have benefited from the pandemic as lockdown consumers and businesses |
| 1:11.0 | shifted to e-commerce. The IPO surge also highlights how companies are capitalizing on increased |
| 1:16.3 | demand from investors and a recovery in valuations across global markets. |
| 1:25.1 | Disney's streaming service, Disney Plus, continues to be a hit. It now has 95 million subscribers |
| 1:32.2 | with 8 million new viewers added just in December. But it's not enough to offset all the hardship |
| 1:37.8 | the company is having because of the pandemic. Disney yesterday announced that $2.6 billion was |
| 1:43.2 | knocked from its operating income in the most recent quarter. Here's the FT's US media correspondent |
| 1:48.2 | Anna Nicolau. Disney traditionally makes a lot of money from theme parks and movies. |
| 1:54.4 | And that's basically been subsidizing its big bet on streaming, which is the future, right? But it |
| 2:00.4 | still is lost making and it will be for years to come. But on a investor's still seem willing |
... |
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