Scottish kilts set to enter the bond market
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 13 November 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
US government shutdown nears an end as House approves funding deal, European carmakers and other industrial companies continue to face “devastating” chip shortages, and Scotland has been handed the same credit rating as the UK, in a boost to Edinburgh as it plans to launch an inaugural bond sale. Plus, an increasing number of wealthy Chinese people are trying to set up family offices and secure residency in the Gulf, rather than Singapore.
Mentioned in this podcast:
US government shutdown nears an end as House approves funding deal
Europe’s carmakers face ‘devastating’ chip crisis as Nexperia supply crunch continues
Scotland handed same credit rating as UK ahead of debut ‘kilts’ sale
Wealthy Chinese sidestep Singapore for Dubai
US mints last penny after Trump killed coin
Credit: Myles McCormick
Today’s FT News Briefing was produced by Lulu Smyth Victoria Craig, Sonja Hutson, and Marc Filippino. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann, Michael Lello and David da Silva. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music 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 | Good morning from the Financial Times. |
| 0:04.0 | Today is Thursday, November 13th, and this is your FT News briefing. |
| 0:08.3 | Looks like the longest government shutdown in American history is over. |
| 0:12.8 | And kilts could soon replace guilt in Scotland. |
| 0:15.5 | You heard that right. |
| 0:17.0 | Plus, wealthy people from China are sidestepping Singapore for Dubai. |
| 0:21.4 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:32.2 | Congress agreed last night to end the U.S. government shutdown. |
| 0:35.5 | The House of Representatives passed the bill to reopen |
| 0:37.8 | the government by a 13-vote margin. At the time of this recording, U.S. President Donald Trump |
| 0:43.3 | is expected to sign the bill late on Wednesday night. But we may have to do this whole thing again |
| 0:49.9 | in a couple of months. The agreement by U.S. lawmakers will only fund the government until the end of |
| 0:54.9 | January. As I mentioned before, this was the longest shutdown in American history at 43 days. |
| 1:01.1 | Thousands of federal workers were furloughed and welfare programs were disrupted. |
| 1:05.8 | Federal services are expected to reopen in the coming days. |
| 1:19.6 | Scotland is one step closer to issuing its first ever investment kilt. |
| 1:24.7 | Now, just to be clear, we're not talking about the piece of clothing that kind of looks like a skirt. |
| 1:28.8 | These kilts are the country's own bonds, which have been nicknamed kiltz. |
| 1:33.9 | And these kiltz, they might be an early step toward another run at Scottish independence. |
| 1:37.3 | The FT Scotland correspondent, Simeon Kerr, joins me now. |
| 1:37.9 | Hi, Simian. |
| 1:41.4 | Hi, this seems like a pretty big deal. |
... |
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