South Korea plots a post-coup future
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 2 June 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
Private equity dealmaking around the world slowed down in the second quarter of 2025, and South Korea holds elections on Tuesday after months of political instability. Plus, office space construction in the UK has reached a ten-year low, and Wall Street is warning that a little-publicised foreign tax provision in Donald Trump’s budget bill could upend markets.
Mentioned in this podcast:
Trump tariffs cut off recovery in private equity dealmaking
Leftwing ‘brawler’ on verge of South Korea presidency
The ‘quiet’ crisis brewing between the US and South Korea
Foreign tax provision in Trump budget bill spooks Wall Street
UK office construction drops to 10-year low
Today’s FT News Briefing was produced by Sonja Hutson, Ethan Plotkin, Kasia Broussalian, Henry Larson, and Marc Filippino. Additional help from Peter Barber. Topher Forhecz is the FT’s acting co-head of audio. 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. Currently, we supply 27% of the UK's gas, |
| 0:07.0 | 15% of its oil, and we're playing our part in the UK's energy transition. In 2023, we invested |
| 0:14.1 | 20% of our global gross spend in renewables and lower carbon solutions. Today, our wind farms power |
| 0:20.0 | 750,000 homes, |
| 0:22.0 | and we expect this to grow to over 7 million UK households. |
| 0:25.7 | We're an energy company searching for better. |
| 0:28.2 | Equinore.co.uk. |
| 0:32.2 | Good morning from the Financial Times. |
| 0:34.7 | Today is Monday, June 2nd, and this is your FT News Briefing. |
| 0:39.8 | Global deal making has hit another brick wall, |
| 0:43.3 | and South Korea might be heading in a new political direction. |
| 0:47.3 | Plus, U.S. President Donald Trump's budget proposal is spooking foreign investors. |
| 0:53.3 | I'm Kasha Bursalian, and here's the news you need to start your day. |
| 1:08.9 | Donald Trump's tariffs are slamming the brakes on a deal-making recovery. |
| 1:14.1 | The value of deals for buyout funds to purchase companies is on track to fall by 16% from quarter 1 this year to quarter 2. |
| 1:23.1 | That's according to the consultancy Bain & Company. |
| 1:26.4 | The data is a pretty big blow for private equity firms. |
| 1:29.9 | They expected this to be a big year for deals |
| 1:32.5 | after higher interest rates kept dealmaking in the doldrums for a couple of years. |
| 1:37.4 | Trump, with his business-friendly promises to deregulate, |
| 1:40.7 | was supposed to turn things around. |
| 1:42.0 | But instead, all the uncertainty from his tariffs |
... |
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