Guerilla. Economist. Colombia’s next president?
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 27 May 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
China has offered “a few hundred million dollars” in lending to Sri Lanka to help alleviate a shortage of essential goods, Wall Street investors got spooked by an earnings warning from Snap, and the FT traced a massive European bank sell-off to one fund manager. Plus, Colombia looks ready to elect a former guerilla turned economist as its next president.
Mentioned in this podcast:
China will help us weather financial crisis, says Sri Lanka’s prime minister
US stocks fall on fears of slowing growth
Capital Group’s European bank sell-off was driven by single fund manager
How the Colombia election could change Latin America
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. 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. |
| 0:06.4 | Learn more at equinole.co.uk |
| 0:09.9 | Good morning from the Financial Times. |
| 0:11.5 | Today is Friday, May 27th, and this is your FT News Briefing. |
| 0:18.4 | China is extending a helping hand to Sri Lanka. |
| 0:21.3 | Voters in Colombia could elect a former M19 rebel as their next president this weekend |
| 0:26.8 | in markets, Snapchat's parent company sent equities into a tizzy, |
| 0:31.7 | and there was a seven billion dollar sell-off in European bank stocks this year. |
| 0:36.9 | And it's largely thanks to one portfolio manager. |
| 0:40.6 | Now Mark Filipino, and here's the news you need to start your day. |
| 0:47.2 | Sri Lanka's Prime Minister said that China has offered him a few hundred million dollars |
| 0:51.6 | to deal with the shortage of essential goods. |
| 0:53.8 | He hopes to finalize the loan while the country negotiates an IMF bailout. |
| 0:58.4 | The country's in an economic meltdown, made worse after the war in Ukraine, |
| 1:02.4 | took away critical tourism revenue. |
| 1:04.7 | Foreign reserves have dried up, and last week, Sri Lanka became the first Asian country to |
| 1:09.2 | default on its foreign debt in more than two decades. |
| 1:12.5 | Sri Lanka owes China several billion dollars in debt and wants to renegotiate those loans. |
| 1:17.7 | But so far, Beijing has refused and is offering aid and additional loans instead. |
| 1:23.8 | US equities had a rare, good day yesterday. |
| 1:31.5 | The NASDAQ ended up around two and a half percent. |
| 1:34.1 | It came after yet another week of volatility. |
... |
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