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FT News Briefing

India shines at G20 summit

FT News Briefing

Forhecz Topher

Daily News, News & Politics, News

4.41.3K Ratings

🗓️ 11 September 2023

⏱️ 11 minutes

🧾️ Download transcript

Summary

PwC is planning to give up tens of millions of dollars of consulting work for its US audit clients, Australia’s biggest pension fund is going big on digital infrastructure, and Venezuelan government bonds are having a moment. Plus, the FT’s John Reed explains why this year’s G20 summit was a huge win for India. 


Mentioned in this podcast:

G20 backs bigger role for reformed World Bank

PwC to curtail consulting work for US audit clients to reduce conflict risk

Western nations accept ‘climbdown’ on Ukraine to salvage G20’s relevance

Venezuelan bonds rally as investors bet on detente with Washington

Credit: Piers Morgan Uncensored


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


Hosted on Acast. See acast.com/privacy for more information.

Transcript

Click on a timestamp to play from that location

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

0:12.3

Good morning from the Financial Times. Today is Monday, September 11.

0:16.3

This is your FT News Briefing. The G20 Summit turned out to be a big win for India,

0:22.4

but maybe not so much for the group as a whole. Australia's biggest pension fund

0:27.6

is going digital, and PWC is turning down millions of dollars in business.

0:33.6

Plus, investors are piling into Venezuelan government bonds as Washington and Caracas

0:39.1

inch toward a deal. I'm Mark Filipino, and here's the news you need to start your day.

0:43.7

The Group of 20 Summit came to a close over the weekend in India, and one thing was clear,

1:01.6

the alliance between the world's biggest economies is holding on by a thread.

1:06.3

Here to talk to me about this is the FT's John Reed in New Delhi. He covered the G20 this year.

1:12.0

Hi, John. Hi, though. Okay, so usually the big thing to come out of these annual summits is

1:17.0

something known as the leaders declaration. It's a joint communique of sorts from the leaders

1:22.9

at the G20. So what jumped out at you about this year's declaration?

1:29.2

G20 is kind of boring. It's very dull in where the FT stuff, but everyone most notably the journalists

1:35.4

focus on the leaders communique, because that's where you see the real friction in our world,

1:41.2

and the point that we were all focused on was the language condemning the war in Ukraine,

1:47.2

which was carried over from Indonesia's presidency and the Bali Summit last year,

1:52.6

which basically condemned Russia for its quote-unquote aggression against Ukraine.

1:58.0

Whereas that was agreed a year ago, and just barely by the G20, this year became clear during

2:05.2

its presidency that there was no way that Russia and China were going to sign off on that.

2:10.8

So what happened apparently over the past few days was that the US and other Western countries

...

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