Markets shrug off potential US debt default
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 12 May 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
Elon Musk says he’s hired a new CEO for Twitter, and Turkey heads to the polls this weekend for what analysts say is the biggest presidential election there in decades. Plus, the FT’s Katie Martin and Jennifer Hughes explain what the US debt ceiling fight is doing to Treasury markets.
Mentioned in this podcast:
Elon Musk says he has found a new Twitter CEO
EU plans Black Sea internet cable to reduce reliance on Russia
Turkish presidential candidate İnce quits race days before vote
Turkey: Erdoğan faces his greatest electoral challenge yet
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Katie McMurran, 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 |
| 0:10.3 | Good morning from the Financial Times. |
| 0:11.8 | Today is Friday, May 12th, and this is your FT News Briefing. |
| 0:18.8 | Elon Musk is stepping down as Twitter CEO and Turkey is gearing up for his most important |
| 0:24.0 | election in a generation. Plus, we'll look at how a looming debt default in the U.S. |
| 0:28.9 | is affecting markets. |
| 0:30.6 | If you cannot trust the U.S. to pay back his debt in a timely fashion, then what can you trust? |
| 0:37.9 | I'm Mark Philippineau, and here's the news you need to start your day. |
| 0:48.6 | Elon Musk says Twitter has a new CEO, but also that he's not going anywhere. |
| 0:53.8 | Musk tweeted the announcement yesterday. He didn't give the new CEO's name, |
| 0:57.2 | but said, she'll start in about six weeks. Musk will stay on as the company's executive chair |
| 1:02.4 | and chief technology officer. Tesla shareholders have been pressuring Musk to focus more on Tesla. |
| 1:09.1 | He's still the CEO of the electric car manufacturer, and it probably needs some attention. |
| 1:14.3 | The company's share price has dropped around 30% over the past year. |
| 1:18.7 | Turkey's longtime president, Recep Tayyip Erdogan, faces his toughest challenge in years. |
| 1:29.4 | Voters head to the polls on Sunday. They'll vote on whether to keep him in power or choose |
| 1:34.3 | a different leader. Turkish voters are frustrated with how the government has handled the economy |
| 1:38.8 | and the recent earthquake. There's the FT's Turkey correspondent, Adam Samson. |
| 1:43.8 | I would say it's pretty tense. Both parties, president, Recep Tayyip Erdogan, |
| 1:49.4 | Justice and Development Party, and Kemal Klitsch to Arluz party are both very, very vigorously |
| 1:55.2 | fighting. Klitsch to Arluz ahead, but it's definitely by no means a sure thing. |
... |
Please login to see the full transcript.
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.