Imran Khan rises again in Pakistan
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 12 February 2024
⏱️ 11 minutes
🧾️ Download transcript
Summary
EY took on $700mn in debt for its failed “Project Everest” plan, and tech companies are shedding jobs in a pivot to AI. Plus, Shein is seeking Beijing’s approval ahead of its IPO.
Mentioned in this podcast:
Pakistan in power vacuum after Imran Khan defies election odds from jail
EY took on $700mn in debt for doomed ‘Project Everest’ spin-off plan
Shein seeks Chinese regulators’ tacit approval for US public offering
Tech companies axe 34,000 jobs since start of year in pivot to AI
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Mischa Frankl-Duval, Breen Turner, Zach St. Louis, Saffeya Ahmed, 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. |
| 0:10.0 | At Aquinore. Good morning from the Financial Times. Today is Monday, February 12th, and this is your |
| 0:18.6 | F.T. News briefing. Job security is top of mind for a lot of people in tech these days. |
| 0:25.0 | And after last week's election, Pakistan's military might regret turning on Imran Khan. |
| 0:31.0 | For his party to nonetheless pull off this quite extraordinary result |
| 0:35.9 | is a real potential longer term game changer |
| 0:39.1 | in terms of where the power in Pakistani politics lies. |
| 0:43.6 | Plus, the fast fashion giant Sheehan is in a delicate dance with Beijing, ahead of its IPO. |
| 0:50.0 | I'm Sophia Ahmed in for Mark Filipino, and here's the news you need to start your day. 2024 is promising to be another big year for layoffs in tech. |
| 1:12.0 | Since January, companies have asked 34,000 jobs. Giants like |
| 1:18.1 | Microsoft, eBay, and PayPal have each cut thousands of positions. |
| 1:23.0 | Analysts say these layoffs are happening because a lot of companies are looking to |
| 1:27.7 | pivot to new areas of growth, including artificial intelligence. |
| 1:32.4 | Tech companies started off last year with a lot of layoffs too. |
| 1:35.0 | And at that time they were looking to scale back their workforces |
| 1:39.0 | after a massive hiring spree that happened during the COVID pandemic. Elections late last week in Pakistan did not go according to plan, and now the country's in turmoil. |
| 1:56.0 | Candidates loyal to Imran Khan, that's Pakistan's former prime minister, |
| 2:00.4 | won the most seats in Parliament. |
| 2:03.0 | The victory is a big blow for the country's powerful military. |
| 2:08.0 | Here to talk to me about it is the F.T.'s Ben Parkin. |
| 2:10.8 | Hey Ben. |
... |
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