How English Channel ports avoided a Brexit meltdown
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 1 July 2021
⏱️ 10 minutes
🧾️ Download transcript
Summary
Private equity firms have broken a 40-year record with $500bn in deals that helped to propel global mergers and acquisitions activity to an all-time high, and the dominant Chinese ride-hailing company, Didi Chuxing, became the largest Chinese company since Alibaba to list in the US, and nightmarish fears of traffic jams and clogged ports after Brexit never materialised thanks to several factors.
Private equity breaks 40-year record with $500bn deals
https://www.ft.com/content/cd9571a3-726c-4995-9954-23a8dcf12b19?
Didi shares rise on New York trading debut
https://www.ft.com/content/dd7ea7fa-96c4-420c-94be-5730a284cc04
How Britain’s Channel ports avoided Brexit meltdown
https://www.ft.com/content/1001c054-0cf9-4f30-a62a-c9ac91e58223
Tim Berners-Lee’s web NFT sells for $5.4m
https://www.ft.com/content/0e45c25b-f66b-44d1-b662-0e7b095664f9
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Thursday, July 1st, and this is your FT News briefing. |
| 0:08.5 | Private equity firms broke a new record for deal-making in the past six months, |
| 0:12.7 | and China's top-ride hailing service yesterday began trading in the US. Plus, in the UK, |
| 0:18.3 | there were nightmarish predictions for what would happen to channel ports after Brexit. |
| 0:22.9 | All these lower drivers would be stranded, unable to get to a service station as the road network |
| 0:28.8 | exploded. We'll talk to the FT's public policy editor Peter Foster about what really happened. |
| 0:35.1 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:42.4 | Private equity firms had their busiest half-year-on record. From January to June, |
| 0:47.1 | Group struck more than 6,000 deals, totaling more than $500 billion. Blackstone was involved in |
| 0:53.4 | three of the ten largest private equity backdeals, according to data from Refinitive. CEO John |
| 0:58.9 | Gray said Blackstone was benefiting from low interest rates. He added rising inflation was the |
| 1:04.2 | biggest risk on the investment horizon. Wider corporate deal-making also rebounded from the early days |
| 1:10.0 | of the pandemic. This quarter overall transaction volumes hit an all-time high of one-and-a-half |
| 1:15.0 | trillion dollars. It's the fourth consecutive quarter that has topped the $1 trillion mark. |
| 1:24.1 | China's top ride-hailing app, D.D. Chushing, began trading on the New York Stock Exchange |
| 1:29.7 | yesterday. It's the largest Chinese company to hit the U.S. since LABaba. D.D. share price |
| 1:35.2 | ended the day 1% higher than its IPO price of $14.00. The FT's Miles Crupa describes D.D.'s debut |
| 1:41.6 | and investor thinking about the company as mixed. D.D. has a really strong position in the Chinese |
| 1:49.3 | ride-hailing market with about 90% of the market. It's way more dominant there than Uber is |
| 1:55.6 | in the U.S., for instance. That is an index to Chinese economic growth into the future, |
| 2:02.4 | kind of like Alibaba, which was the last really massive Chinese listing in 2014. On the other hand, |
| 2:09.7 | there are a lot of regulatory uncertainties in China at the moment around big tech companies. |
... |
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