Monday, October 7

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.4 • 1.3K Ratings

🗓️ 7 October 2019

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

HSBC embarks on a cost-cutting drive that threatens up to 10,000 jobs, 2020 presidential hopeful Joe Biden accuses US president Donald Trump of spreading “flat-out lies”, and a post-Brexit trade deal with the US could “severely limit” Britain’s ability to negotiate an equivalent agreement with the EU, according to a leaked government paper. Plus, the FT’s Sarah Neville explains how Novo Nordisk tries to balance rising prices when it comes to insulin products with giving back to the diabetic community.

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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	Good morning from the newsroom of the Financial Times.
0:12.0	Today is Monday, October 7th. Good morning from the Newsroom of the Financial Times.
0:12.6	Today is Monday, October 7th, and this is your FT news briefing.
0:18.4	HSBC looks to make significant job cuts to rein in costs.
0:23.0	2020 presidential hopeful Joe Biden takes a swing at Donald Trump.
0:27.3	An elite government paper says that a post Brexit trade deal with the US could complicate
0:32.0	Britain's deal-making with the EU.
0:34.0	Plus, Novo Nordisk has been marked as a villain by US politicians for raising the price
0:39.5	of its insulin products. The FT Sarah Neville talks with me about the other side of the company, which
0:44.7	tries to give back to the diabetic community. I'm Mark Filipino, and here's the news you need
0:50.6	to start your day.
0:58.0	H.S.B.C. could be cutting as many as 10,000 jobs. Sources tell the FT that the plan represents the lender's most ambitious plan to reel in costs in years.
1:04.0	H.S.B.C. has already announced 4,700 redundancies
1:08.0	saying low interest rates, trade conflicts, and Brexit uncertainty
1:12.0	have created a, quote quote complex global environment.
1:16.0	This most recent round of cuts comes as new interim chief executive Noel Quinn looks to make
1:20.4	his mark on the bank.
1:22.3	Most of this effort will focus on high paid roles.
1:25.3	There are a lot of questions surrounding H.S.B.C. at the moment.
1:29.0	Globalization is becoming less popular.
	...

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