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Money Talks from The Economist

Money talks: WeWorry

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 1 October 2019

⏱️ 25 minutes

🧾️ Download transcript

Summary

WeWork has scrapped plans for an initial public offering after its CEO stepped down amid claims of mismanagement. What does its implosion mean for investors and other young firms with similar ambitions? Greece's new government is preparing to announce its first draft budget. Will it be enough to re-energise the economy? Plus, a taste of Chinese fine wine. Patrick Lane hosts

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Transcript

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0:00.0

Are you receiving tax credits?

0:02.0

If so, this message is for you.

0:04.5

Tax credits are coming to an end,

0:06.3

and most people will be asked to apply for universal credits instead.

0:10.0

The Department for Work and Pensions is writing to Tax Credit claimants.

0:14.0

You won't be moved automatically, so look out for your letter explaining what you'll need to do and by when.

0:19.0

And there's also lots of support to help you make the move.

0:22.0

Get ready for your Universal Credit Switchover.

0:25.2

Search Understanding Universal Credit today.

0:28.2

Eligibility criteria apply. Hello and welcome to Money Talks on Economist radio. I'm Patrick Lane, deputy Digital Editor here at The Economist.

0:45.0

And on today's show, what to look for in Greece's draft budget,

0:50.0

The Prime Ministers come in wanting to show that the country is open to business.

0:55.0

And as part of that, the government in its budget is expected to announce cuts to corporate

0:59.5

taxes and cuts to income taxes.

1:02.3

And a taste of fine wine. and a

1:03.0

taste of fine wine from China.

1:06.0

Part of the Chateau Lafite Gambit is actually to say,

1:11.0

you know, you can have a good wine produced in China it doesn't need to be

1:14.6

you know the state-produced plunk.

1:18.6

But first we work is in deep trouble. Just six weeks ago, the company known for its

1:29.2

trendy co-working spaces was one of the most valuable young firms in the United States.

1:34.7

It was notionly valued by its private investors at around $47 billion.

...

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