Francesca McDonagh heads to Credit Suisse
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 16 May 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
Brussels is set to cut its growth forecasts further and boost its inflation outlook, and Sweden will jettison 200 years of military non-alignment and apply to join Nato alongside its neighbour Finland. Plus, the FT’s Owen Walker talks about Credit Suisse’s high profile new hire, Francesca McDonagh.
Mentioned in this podcast:
Europe growth and inflation outlooks worsen as energy crisis hits
Sweden and Finland to make Nato applications on ‘historic’ day for Nordics
Francesca McDonagh: banker with ‘steel in her spine’ heads to Credit Suisse
Goldman Sachs says senior staff can take as much time off as they want
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva, and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
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. |
| 0:11.5 | Today is Monday, May 16th, and this is your FT News Briefing. |
| 0:18.9 | Russia's war in Ukraine is taking its toll on Europe's economy. |
| 0:23.2 | It's also prompted Sweden and Finland to make the historic decision to join NATO, |
| 0:29.0 | not all NATO members are rolling out the welcome mat, though. |
| 0:32.9 | Plus, one of Ireland's top bankers is heading to Credit Suisse to help set things right. |
| 0:37.9 | We'll look at why Francesca McDonough is making the move. |
| 0:40.8 | You could say she's thinking danger money here. |
| 0:43.2 | I mean, by rough estimations, she could look to at least double her pay at Credit Suisse. |
| 0:48.5 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:59.6 | The energy crisis triggered by Russia's invasion of Ukraine is taking a toll on the European |
| 1:06.4 | economy. Officials say that the EU and Euro area are forecast to expand by a mere 2.7% this year |
| 1:13.7 | that's well below the previous 4% expectation. Next year's growth is expected to be even lower. |
| 1:20.7 | On top of the slowing growth, inflation is expected to surge above 6% this year. |
| 1:26.2 | Households are facing higher food prices as well as high energy prices. |
| 1:30.9 | In response to high inflation, the European Central Bank has signaled it may raise interest rates |
| 1:35.9 | this summer. It would be the ECB's first rate hike in more than a decade. |
| 1:45.6 | Yesterday, Sweden broke a 200-year policy of military neutrality. |
| 1:50.4 | The Nordic country and its neighbour, Finland, both announced they'll join NATO. |
| 1:54.8 | This would be one of the most far-reaching consequences of Russia's invasion of Ukraine, |
... |
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