Nigeria’s $11bn court challenge
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 27 January 2023
⏱️ 10 minutes
🧾️ Download transcript
Summary
UK chancellor Jeremy Hunt will on Friday take on rightwing Tory MPs by rejecting calls for big tax cuts in his Budget, Brazil and Argentina’s leftwing leaders push ahead with common currency plan despite questions over unequal benefits, and Nigeria has begun a high-stakes attempt at London’s High Court to overturn an $11bn arbitration award.
Mentioned in this podcast:
Jeremy Hunt to defy rightwing Tory MPs by rejecting calls for Budget tax cuts
Economists question South American currency plan
Nigeria begins UK court bid to overturn $11bn arbitration award
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 |
| 0:10.1 | Good morning from the Financial Times. Today is Friday, January 27th. |
| 0:14.1 | And this is your FT News Briefing. |
| 0:19.2 | UK Chancellor Jeremy Hunt is taking on right-wing MPs. |
| 0:23.5 | Brazil and Argentina are talking about a common currency. |
| 0:27.2 | One critic calls it, INSANE. |
| 0:29.4 | Plus we'll tell you about a wild court battle involving Nigeria. |
| 0:33.0 | Two Irishmen and $11 billion. |
| 0:36.2 | It's pretty mad. I've seen some people saying this is like one of the biggest |
| 0:40.2 | high court cases ever in terms of money. |
| 0:43.9 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:46.7 | The FT reports that Jeremy Hunt will reject calls from right-wing MPs to cut taxes. |
| 1:00.0 | He said to do that in a speech today that will lay the groundwork for his March budget. |
| 1:04.9 | This comes just months after markets freaked out over the previous Chancellor's plan for |
| 1:09.9 | unfunded tax cuts. Hunt is deeply frustrated by what Treasury Insiders say is the short |
| 1:15.6 | memory of these right-wing MPs. He'll argue that he can grow the economy without |
| 1:20.4 | cutting taxes. And he's expected to say in today's speech, quote, |
| 1:24.8 | the best tax cut right now is a cut in inflation. |
| 1:34.0 | A top international economist has called a plan for a Latin American common currency |
| 1:39.6 | INSANE. He's referring to plans that would create a regional currency block. |
| 1:44.2 | Argentina and Brazil made the announcement this week. |
... |
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