Markets shrug off investigation into Powell
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 13 January 2026
⏱️ 13 minutes
🧾️ Download transcript
Summary
UBS chief executive Sergio Ermotti is planning to step down in April 2027, and Paramount threatened a proxy fight in its latest move to force Warner Bros Discovery back to the negotiating table. Plus, the FT’s Robert Armstrong explains what could come next in US President Donald Trump’s crackdown on the Federal Reserve.
Mentioned in this podcast:
UBS boss Sergio Ermotti plans to step down in April 2027
Paramount threatens proxy fight in battle for Warner Bros Discovery
What is behind the criminal investigation into Jay Powell?
Former Fed chiefs attack DoJ probe into Jay Powell
Note: The FT does not use generative AI to voice its podcasts
Today’s FT News Briefing was hosted and edited by Marc Filippino and produced by Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music 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 | Good morning from the Financial Times. |
| 0:04.0 | Today is Tuesday, January 13th, and this is your FT News Briefing. |
| 0:08.0 | The head of Switzerland's largest bank is planning to move on. |
| 0:12.0 | And I don't know about you, but this bidding war over Warner Brothers' discovery is making my head spin. |
| 0:17.0 | Plus, FT columnist Rob Armstrong explains why the criminal investigation into Fed Chair Jay Powell is such a big deal. |
| 0:25.6 | I would go so far as to say anyone who would accept a nomination from the Trump administration to be the chair of the Fed right now. |
| 0:36.8 | Thereby proves that they are unqualified for the job. |
| 0:41.7 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:53.9 | UBS chief executive Sergio Irmati plans to step down in April next year. |
| 0:58.8 | Sources told the FTE that Irmati will leave his post once UBS fully absorbs Credit Suisse. |
| 1:04.3 | Switzerland's government orchestrated the acquisition in 2023 when Credit Suisse was at risk of collapsing. |
| 1:10.9 | Irmati has had two stints as CEO. |
| 1:13.6 | His first went from 2011 to 2020, |
| 1:15.8 | and this one began during the Credit Suisse takeover. |
| 1:18.8 | Whoever replaces him will have their hands full. |
| 1:22.0 | The Swiss government wants to tighten UBS's capital requirements. |
| 1:25.5 | That sparked rumors that the bank might move its headquarters |
| 1:28.2 | elsewhere. |
| 1:35.6 | Paramount is not giving up the fight to buy Warner Brothers Discovery. |
| 1:39.5 | And if you've gotten a little bit lost in this crazy story, can't blame you. |
| 1:43.1 | So let's back up a little bit. |
| 1:45.2 | Netflix and Warner Brothers Discovery sealed a deal in December. Then Paramount came in hot with a series |
... |
Transcript will be available on the free plan in 24 days. Upgrade to see the full transcript now.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.