Eurozone’s economy proves resilient, Toshiba buyout battle
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 14 April 2021
⏱️ 9 minutes
🧾️ Download transcript
Summary
Coinbase prepares to be the first leading cryptocurrency exchange to list on a US stock market, and the eurozone economy is showing signs of adapting to coronavirus lockdowns. Plus, the FT’s private capital correspondent, Kaye Wiggins, discusses the corporate drama surrounding the private equity bidding for Japan’s Toshiba.
Coinbase listing set to capitalise on crypto bull run
https://www.ft.com/content/06d98c02-f5da-45e8-a0f5-20e3bfd64879
Eurozone’s economy shows signs of adapting to lockdowns
https://www.ft.com/content/b756bab9-43a7-49c6-a3de-c98e891a0aea?
Resignation of Nobuaki Kurumatani comes as KKR also prepares to mount offer for Japanese conglomerate
https://www.ft.com/content/65a3b3b0-c68e-4312-a29b-d0b90d8cf011
LVMH benefits from demand for luxury goods in US and China
https://www.ft.com/content/9c892b85-9ae2-4ef9-8e42-9a09baf3492b
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Wednesday, April 14th. This is your FT news briefing. |
| 0:08.5 | A leading cryptocurrency company hits the public markets today, and the Eurozone's economy proves |
| 0:14.8 | resilient despite the latest coronavirus lockdowns. Plus, Toshiba's CEO has stepped down amid a |
| 0:20.8 | boardroom coup and a private equity bidding war for the Japanese conglomerate. What's at stake here |
| 0:26.6 | is the future of a 146-year-old company with a huge amount of heritage in Japan and one that the |
| 0:32.5 | Tokyo Stock Exchange has been battling to keep public. I'm Mark Filipino and here's the news you |
| 0:38.0 | need to start your day. |
| 0:45.9 | Markets are looking at a blockbuster listing, a direct listing on the NASDAQ today. Coinbase operates |
| 0:52.0 | the largest US cryptocurrency exchange. It makes money from the fees it charges investors to hold |
| 0:57.6 | and trade Bitcoin and other digital currencies. The company estimated it oversees about 11% of |
| 1:03.8 | the total cryptocurrency market. It's part of value of the company, but given the current excitement |
| 1:08.8 | that's driven up the value of cryptocurrencies, and based on what Coinbase shares have been |
| 1:13.7 | trading on private exchanges, one estimate says the company could have a market cap of $74 billion, |
| 1:20.7 | which would make it more valuable than the parent company of the New York Stock Exchange. |
| 1:30.4 | There's major corporate drama unfolding in Japan right now. Three private equity firms have been |
| 1:35.5 | battling to buy one of Japan's most well-known companies, Toshiba. It would be the biggest ever |
| 1:41.2 | leveraged buyout deal in Japan if it happens, but yesterday, Toshiba's insiders staged a boardroom |
| 1:47.0 | coup to block a takeover and ousted the company's CEO. |
| 1:50.7 | For any listeners who are interested in corporate intrigue, in boardroom plotting, in the chess games |
| 1:58.4 | that private equity dealmakers often play, I ultimately, in politics really, I mean, this story has |
| 2:03.7 | everything. Key Wiggins is the FT's private capital correspondent. She caught me up on what's been |
| 2:08.2 | happening with Toshiba, a company that the world knows for its TVs and laptops, but Toshiba also |
... |
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