Lula makes a comeback, Russia ends Ukraine grain deal
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 31 October 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
Moscow’s decision to suspend the Black Sea agreement will lead to fresh spike in prices, experts warn, Wall St bankers are under pressure to offer heavy discounts on debt issued to Elon Musk to fund his acquisition of Twitter, European and US banks are offering higher interest rates to lure cash deposits, and thousands of Chinese workers have fled the world’s largest iPhone factory because of a coronavirus outbreak and intolerable lockdown measures.
Mentioned in this podcast:
Lula wins Brazil presidential election in historic comeback
Western countries slam Russia’s decision to exit Black Sea grain deal
Musk becomes media baron with Twitter deal amid Big Tech sell-off
Banks are discovering that holding cash can be lucrative again
Twitter Space: What can we expect from Twitter under Elon Musk?
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 |
| 0:09.8 | Good morning from the Financial Times. |
| 0:11.3 | Today is Monday, October 31st, and this is your FT News Briefing. |
| 0:18.8 | Brazil will have a new president, he's a bit of a familiar face. |
| 0:22.9 | Russia pulled out of its deal to allow Ukraine to export grains. |
| 0:26.8 | Wall Street lenders might not be celebrating the big Twitter buyout, |
| 0:30.6 | and banks are starting to pay you more for your deposits. |
| 0:34.8 | People want your cash now. |
| 0:36.6 | I'm Mark Philippineau, and here's the news you need to start your day. |
| 0:50.6 | Louise Inacio Lula de Silva claimed victory in Brazil's presidential election yesterday. |
| 0:55.7 | He defeated right-wing incumbent Jair Bolsonaro by less than two percentage points. |
| 1:00.4 | Lula, as he's called, served two terms as president between 2003 and 2010, |
| 1:05.4 | but he also served time in prison for graft before his convictions were annulled. |
| 1:10.3 | It's unclear, though, whether Bolsonaro will accept the results and leave office quietly |
| 1:15.2 | in the run-up to the election he claimed that it was rigged against him, |
| 1:18.6 | but on Friday he said he would respect the outcome. |
| 1:21.8 | We'll have more analysis on Brazil's election with our Latin America editor Michael |
| 1:25.6 | Stott in tomorrow's show. |
| 1:32.4 | Russia has pulled out of a deal to allow millions of tons of grain to leave Ukrainian ports |
| 1:37.3 | and onto global markets. |
| 1:39.2 | The price of grain shot up more than 7 percent after the news, |
... |
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