Should banks foot the bill for cyber scams?
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 30 December 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
Defaults on US credit card loans have hit the highest level since the wake of the 2008 financial crisis, and as payment fraud rises, banks and tech companies disagree on who should cover consumer losses. Syria’s caretaker government has said it could take up to four years for the country to hold elections. Plus, how Hitachi’s plan to monetize industrial data has revived its fortunes.
Mentioned in this podcast:
US credit card defaults jump to highest level since 2010
Who should foot the bill for cyber scams?
Syrian elections may not be held for 4 years, says de facto leader
‘Monetising data’: how Hitachi has soared with bets on AI future
The FT News Briefing is produced by Niamh Rowe, Persis Love, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. 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 | We're Equinor, an energy company searching for better. |
| 0:03.0 | Currently, we supply 27% of the UK's gas, 15% of its oil, |
| 0:07.7 | and we're playing our part in the UK's energy transition. |
| 0:11.0 | Our wind farms power 750,000 homes, |
| 0:14.0 | and we expect that to grow to over 7 million. |
| 0:16.5 | Last year, we invested 20% of our global growth spend in renewables |
| 0:20.1 | and lower carbon solutions. |
| 0:22.0 | We plan to increase that to 50% by 2030. |
| 0:25.4 | We're an energy company searching for better. |
| 0:28.4 | equinore.co.uk. |
| 0:33.7 | Good morning from the Financial Times. |
| 0:36.7 | Today is Monday, December 30th and this is your FT News Briefing. |
| 0:41.3 | US credit card defaults have hit the highest level since 2010, and online scams are soaring. |
| 0:49.3 | But who should foot the bill? |
| 0:51.3 | Plus, Japanese manufacturing conglomerate Hitachi has rethought its business model |
| 0:57.2 | and it's paying off. I'm Persis Love and here's the news you need to start your day. US consumers are struggling to pay off their credit card debts. |
| 1:19.3 | Defaults on loans haven't been this high since the aftermath of the 2008 financial crash. |
| 1:25.6 | For the first three quarters of this year, |
| 1:30.2 | the amount that lenders wrote off in unpaid loans was up 50% on the same period last year. |
| 1:34.5 | Low-income households have been hit badly |
| 1:36.8 | by years of high inflation and expensive borrowing costs. |
| 1:42.2 | And experts worry that Donald Trump's threat of tariffs could cause these to rise even |
... |
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