EY’s new leader has her work cut out for her
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 17 November 2023
⏱️ 10 minutes
🧾️ Download transcript
Summary
More than half of low-income UK households with mortgages have fallen behind on one or more of their bills and Alibaba disappointed investors after announcing that it ditched plans to spin off its cloud business. Plus, the FT’s Stephen Foley talks about EY’s new leader Janet Truncale and how she might steer the accounting firm.
Mentioned in this podcast:
Alibaba ditches plans to spin off cloud business and list supermarket
EY picks Janet Truncale as the first woman to lead a Big Four firm
Low-income borrowers hit hardest by Bank of England rate rises
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Manuela Saragosa, Josh Gabert-Doyon, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:08.0 | Equinore. |
| 0:10.0 | Good morning from the Financial Times. Today is Friday, November 17th, and this is your |
| 0:17.1 | F.T. News briefing. |
| 0:19.5 | Alibaba's stock tanked after it announced some bad news yesterday and EY has a new CEO but can |
| 0:27.3 | she solve the firm's biggest challenge? |
| 0:30.1 | Was planning to do a very big transaction. |
| 0:32.6 | It was going to sell off its consulting business. |
| 0:35.6 | But that plan collapsed. |
| 0:37.3 | Plus, low-income households in the UK |
| 0:40.0 | are getting hit hard by the Bank of England's rate rises. |
| 0:44.1 | I'm Sonia Hudson in Vermont Filipino, |
| 0:46.4 | and here's the news you need to start your day. Alibaba announced yesterday that it was ditching plans to spin off its cloud |
| 0:58.6 | computing business. This didn't go over well with investors. U.S. shares in Alibaba fell almost 10%. |
| 1:07.0 | Here to talk more about this is the F.T.'s China technology correspondent, Eleanor Olcott. |
| 1:12.0 | Hi, Eleanor. Hi Eleanor. |
| 1:13.4 | Hi. So what were the main takeaways that we learned from Ali Baba's |
| 1:18.5 | announcement yesterday? So Ali Baba's business is in a really difficult position. |
| 1:25.1 | Alibaba was a poster child for China's explosive economic growth. |
| 1:30.1 | Year in, year out, we saw double digit growth mostly coming from its booming e-commerce business. |
| 1:37.0 | But over the past few years it's become the unwanted poster child of the country's sluggish economic growth. |
... |
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