Private equity: from cutthroats to frenemies
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 16 August 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
Elections officials in Kenya announced a winner in last week’s presidential election but the result is being challenged, Iran denies involvement in the stabbing of controversial author Salman Rushdie, and China cut a crucial lending rate for the first time since January. Plus, we look at how the private equity industry evolved from a group of mercenary dealmakers to co-operative rivals.
Mentioned in this podcast:
William Ruto wins Kenya’s presidential election
Iran denies linked to Rushdie attack
China cuts lending rate as economic data disappoint and Covid cases rise
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. |
| 0:06.4 | Learn more at equinole.co.uk. |
| 0:09.8 | Good morning from the Financial Times. Today is Tuesday, August 16th. |
| 0:13.7 | And this is your FT News Briefing. |
| 0:18.5 | China has eased a crucial lending rate to try and boost its economy. |
| 0:22.8 | Kenya has a new president, but he still faces a challenge. |
| 0:26.2 | And private equity dealmakers used to be ruthless, but they evolved into cooperative rivals. |
| 0:33.6 | And so that changes the way you behave versus if you're just trying to win |
| 0:38.9 | one single deal and trying to rip the next guy's throat out. |
| 0:43.0 | We'll talk to a correspondent about how private equity has changed over the decades. |
| 0:47.5 | I'm Jess Smith in from Mark Filipino, and here's the news you need to start your day. |
| 0:56.4 | It took almost a week, but election officials in Kenya yesterday finally announced a winner |
| 1:04.4 | in the recent presidential election. |
| 1:06.4 | Deputy President William Ruto just barely defeated former Prime Minister Ryleau Dingo. |
| 1:12.3 | Their battle to lead one of Africa's largest economies was fiercely fought. |
| 1:17.1 | And Dingo and some other officials are challenging the results. |
| 1:21.0 | Everyone is kind of on Tentra Hooks now waiting what's going to happen. |
| 1:26.2 | The FT's East and Central Africa correspondent, Andres Kapani, |
| 1:30.3 | points to past elections in 2007 and 2017 that ended in violence. |
| 1:35.9 | So Kenya is seen as big instability in the Horn of Africa until election happens. |
| 1:43.1 | A lot of people are hoping that this election, despite the legal challenge, could break |
| 1:48.1 | the cycle of violence that happened in previous elections and would actually |
... |
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