Signs of a UK inflation cool-down
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 20 July 2023
⏱️ 12 minutes
🧾️ Download transcript
Summary
A crackdown on password sharing helped Netflix add nearly 6mn subscribers, UK inflation fell to a 15-month low of 7.9 per cent in June, Ukraine’s armed forces are having a hard time with Russian mines and Spain’s Sunday election could mean the end of Pedro Sánchez’s time as prime minister.
Mentioned in this podcast:
Netflix’s password-sharing crackdown pays off with nearly 6mn new subscribers
UK inflation falls more than expected to 7.9% in June
Could the UK inflation crisis be at a turning point?
Military briefing: the mines stalling Ukraine’s advance
‘Spain first’: Vox party on brink of sharing power
Rachman Review podcast: Spain's lurch to the right
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. Additional help from Monica Lopez, Katie McMurran, 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 |
| 0:12.3 | Good morning from the Financial Times. |
| 0:13.9 | Today is Thursday, July 20th, and this is your FT News Briefing. |
| 0:19.0 | Ukraine's armed forces are having a hard time with Russian minds, |
| 0:23.0 | and Sunday's election could prove pretty tough for the Prime Minister of Spain. |
| 0:27.9 | Plus, it looks like the UK is finally getting some relief from high inflation, |
| 0:32.3 | but the Bank of England isn't quite out of the woods yet. |
| 0:35.6 | So let's not assume that one positive number, one bit of good news, |
| 0:41.4 | is the start to something bigger. |
| 0:43.0 | Let's be a little bit more patient than we might have been in the past. |
| 0:45.9 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:57.2 | Netflix added six million new subscribers last quarter, |
| 1:05.5 | more than double what analysts expected. |
| 1:07.9 | The streaming service released its second quarter earnings yesterday, |
| 1:10.9 | and it said that it's cracked down on password sharing contributed to subscriber growth. |
| 1:15.6 | It basically told customers, if you want to share a password, |
| 1:18.4 | then you need to fork over an extra eight bucks a month to add a person outside their home, |
| 1:23.6 | and it worked. Revenue rose last quarter, but it came up short of forecasts. |
| 1:28.6 | Netflix shares dropped nearly 8% after the bell on Wednesday. |
| 1:38.0 | UK inflation for June fell more than expected. |
| 1:40.5 | It fell to 7.9%, nearly a full percent lower than May, |
... |
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