Hong Kong’s bull run leaves China in the dust
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 2 July 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
The UK government passed its welfare reform bill after making concessions, and Hong Kong’s stocks are beating out mainland China’s. Plus, Eurozone inflation rises to 2 per cent, and Europe turns to France to process rare earths.
Mentioned in this podcast:
Starmer guts UK welfare reforms to avoid Commons defeat
Hong Kong’s bull market leaves China behind
Eurozone inflation rises to ECB’s 2% target
European companies look to France for domestic rare earths sector
Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, and Fiona Symon. Additional help from Kelly Garry and Michael Lello. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | We're Equinor, an energy company searching for better. Currently, we supply 27% of the UK's gas, |
| 0:07.0 | 15% of its oil, and we're playing our part in the UK's energy transition. In 2023, we invested |
| 0:14.1 | 20% of our global gross spend in renewables and lower carbon solutions. Today, our wind farms power |
| 0:20.0 | 750,000 homes, and we expect this to grow to |
| 0:23.3 | over 7 million UK households. We're an energy company searching for better. Equinor.com. |
| 0:29.0 | UK. Good morning from the Financial Times. Today is Wednesday, July 2nd, and this is your FT News briefing. The UK government got its |
| 0:40.2 | welfare bill over the line, but only after huge concessions. And Hong Kong stock market is leaving |
| 0:47.7 | mainland China's in the dust. Meanwhile, China has a chokehold on the world's critical |
| 0:53.3 | minerals. |
| 0:55.7 | Can France change that? |
| 1:02.9 | What's at stake really is the kind of viability and functioning of integral supply chains from wind turbine manufacturing to car manufacturing in Europe? |
| 1:07.6 | I'm Sonia Hudson, and here's the news you need to start your day. |
| 1:19.2 | UK Prime Minister Kier Starmar gutted his welfare reform bill yesterday and only then got it |
| 1:26.1 | through the House of Commons. |
| 1:29.4 | But the move leaves a multi-billion dollar hole in the country's public finances. Starmour faced a massive rebellion |
| 1:35.9 | from his own labor party over the controversial bill. It was initially supposed to save |
| 1:41.2 | five billion pounds, but now experts say the government could even lose money on it. |
| 1:47.5 | This U-turn leaves Chancellor Rachel Reeves in a tough spot. |
| 1:51.4 | She'll have to look at other ways to raise money, like increasing taxes. |
| 2:03.9 | Hong Kong's stock market is on a bull run. |
| 2:05.8 | Chinese mainland equities? |
| 2:07.3 | Eh, not so much. |
... |
Transcript will be available on the free plan in 23 days. Upgrade to see the full transcript now.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.