In search of a new economic playbook
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 28 August 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
Chinese corporate earnings reports are forecast to log poor performance and companies are set to downgrade outlooks, and policy makers walked away from Jackson Hole acknowledging they need to adjust to the changing global economy. Plus, the FT’s Jamie Smyth explains why Ireland is still in a good position for the life science industry boom despite a higher corporate tax.
Mentioned in this podcast:
Chinese companies’ earnings to lay bare impact of economic slowdown
‘No playbook’: policymakers face up to changing global economy at Jackson Hole
‘Talent is key’: Ireland brushes off tax rise and prepares for next life sciences boom
Corporate sponsors turn against Spain football chief over World Cup kiss
Credit: Reuters Protesters in Spain call Luis Rubiales to resign
Credit: Bloomberg Television ECB's Lagarde on Global Economic Environment, Inflation
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The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. 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 FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:12.4 | Good morning from the Financial Times. Today is Monday, August 28. |
| 0:16.0 | And this is your FT News Briefing. |
| 0:19.2 | Investors are bracing for a rough earning season in China |
| 0:23.1 | and the central bankers meeting in Jackson Hole left a lot of people feeling uncertain about |
| 0:28.3 | the global economy. Plus, Ireland has become a hub for the life sciences industry |
| 0:34.1 | but could hire taxes make things a little less comfortable for companies. |
| 0:38.8 | We'll take a look. I'm Mark Filipino and here's the news you need to start your day. |
| 0:58.5 | There is a lot of pessimism surrounding Chinese companies reporting second quarter earnings |
| 1:03.5 | this week. Forecasts expect that these companies will downgrade outlooks, especially in sectors |
| 1:08.9 | that are heavily exposed to struggling real estate and finance. There's also a lot of doubt that |
| 1:14.4 | Beijing will provide the stimulus needed to kick the country's economy back into gear. |
| 1:19.8 | But there have been brighter spots reported for the quarter so far. Companies in the consumer |
| 1:25.5 | and technology sectors have benefited more than most. |
| 1:35.7 | The world's central bankers wrapped up their annual economic symposium in Jackson Hole |
| 1:40.3 | Wyoming over the weekend. And while the threat of inflation isn't as bad as it was a year ago, |
| 1:46.4 | central bankers worried about the structural changes upsetting the global economy. |
| 1:51.1 | Here to talk about the gathering is the FT's US economics editor, Colby Smith. |
| 1:55.5 | Hey, Colby, how was Jackson Hole? Hi, Mark. It was great. Busy, busy couple of days. |
| 2:00.2 | Yeah, I can imagine. So last week in the run up to the symposium, we mentioned that all |
| 2:05.3 | eyes would be on federal reserve chair Jay Powell into speech. What did he end up saying? |
... |
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