Local Chinese banks get a lifeline
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 5 January 2024
⏱️ 11 minutes
🧾️ Download transcript
Summary
One of the world’s top gold producers fired its chief executive for serious misconduct, Chinese provinces pumped a record $31bn of capital into fragile regional banks last year, and German inflation accelerated to its fastest rate for three months in December. Plus, a study shows widespread untracked fishing is hindering global efforts to protect depleted fish stocks and marine environments.
Mentioned in this podcast:
Endeavour Mining CEO dismissed for serious misconduct
Off-radar fishing threatens efforts to preserve stocks, study warns
China steps up aid for regional banks as economic risks mount
German inflation rises to 3.8% in blow to rate-cut hopes
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by 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. UK. Good morning from the Financial Times. Today is Friday, January 5th, and this is your |
| 0:17.7 | F.T. News briefing. One of the world's top gold producers has fired its chief executive. |
| 0:25.0 | Environmentalists are worried about how difficult it is to track fishing boats, |
| 0:30.0 | and inflation is rising again in Europe's biggest economy. |
| 0:34.0 | Plus, China is injecting a record amount of money into local banks to keep them afloat. |
| 0:40.0 | I'm Sonia Hudson in for Mark Filipino, and here's the news you need to start your day. Endeavor mining yesterday alleged that its CEO Sebastian Demontesue committed |
| 1:01.7 | quote serious misconduct related to an irregular 5.9 million dollar payment. |
| 1:08.0 | The board is still investigating the allegation. |
| 1:12.0 | Endeavor also said someone made a separate allegation against Demontisu last year |
| 1:16.8 | about his personal conduct with employees. |
| 1:19.8 | Demontisu has not responded to a request for comment and Endeavor's shares closed down 10% in Toronto on |
| 1:27.3 | Thursday following the announcement. A new study that came out on Wednesday highlighted a major problem with the world's |
| 1:41.0 | industrial fishing industry. |
| 1:43.3 | Most of the boats are not tracked, |
| 1:46.1 | and that's causing a lot of problems |
| 1:48.7 | for those trying to protect fish populations |
| 1:51.0 | and marine environments. |
| 1:53.0 | Here to talk to me about it is the F.T. |
| 1:54.7 | Susanna Savage. |
| 1:55.8 | Hey Susanna. |
... |
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