London Stock Exchange gets the cold shoulder
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 3 March 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
The US will launch a renewed crackdown on countries that are helping the Kremlin evade western sanctions, the world’s largest building materials group plans to move its listing from London to New York, and the FT’s Delphine Strauss explains why higher wages could undermine central banks’ battle against inflation.
Mentioned in this podcast:
US to launch new crackdown on Russian sanctions busting
Buildings giant CRH plans to move listing from London to New York
Global economy: will higher wages prolong inflation?
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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by 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 |
| 0:10.3 | Good morning from the Financial Times. Today is Friday, March 3rd. |
| 0:13.7 | And this is your FT News Briefing. |
| 0:18.4 | London Stock Exchange has big dreams, but reality keeps getting in the way. |
| 0:23.9 | And we'll talk about the wage price spiral. |
| 0:26.6 | It's making central bankers kind of dizzy. |
| 0:29.3 | But first, Western Allies are trying to cut off the Kremlin's supply routes. |
| 0:33.8 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:42.1 | Western Allies are cracking down on countries and people who are helping Russia avoid sanctions. |
| 0:47.5 | Officials from Britain, the European Union, and the US were recently in the United Arab Emirates. |
| 0:53.2 | They urged officials in the Gulf State to clamp down on suspected sanctions busting. |
| 0:58.4 | The US worries that the UAE is becoming a hub for shipping goods like electronics |
| 1:02.8 | that could be repurposed for Russia's war effort in Ukraine. |
| 1:06.8 | Yesterday, a top US Treasury official pointed to a rising number of exports from UAE companies |
| 1:12.5 | to US designated Russian entities. Western officials also see Turkey and Central Asian countries |
| 1:19.6 | as weak links in the effort to isolate Russia. |
| 1:22.5 | London Stock Exchange has been trying to become a place where hot companies around the world |
| 1:32.6 | want to list. Companies are not biting. This week, the Japanese conglomerate soft bank rejected |
| 1:39.9 | a London listing for British ship designer arm. Now, arm is just going to list in New York. |
| 1:45.6 | Now, if that wasn't bad enough, yesterday, the world's largest building materials company, |
| 1:50.0 | Ireland's CRH, said it's moving, it's listing from London to New York. |
... |
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