Special episode: a trip to the NYSE trading floor
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 29 October 2021
⏱️ 12 minutes
🧾️ Download transcript
Summary
Read a transcript of this episode on FT.com
https://www.ft.com/content/e66c93b1-996c-48ea-9a13-597410ec7e47
Facebook is changing its name to Meta, and the European Central Bank is proving a tough read for bond investors, and what are those ads appearing in London’s transit system advertising a new “meme” coin Floki Inu? Plus, the New York Stock Exchange has the last open outcry trading floor. We’ll take you there to meet some of the people who work there, and find out what humans bring to market quality.
Facebook changes name to Meta in corporate rebranding
https://www.ft.com/content/b20fd8ea-2dda-45ad-aa15-1ed7a7e5e46f
How coronavirus turned the business of trading at banks on its head
https://www.ft.com/content/8066154d-83c4-49a6-97d4-4c3c65684136
ECB keeps buying bonds and leaves rates unchanged despite rising inflation
https://www.ft.com/content/c1246d03-0902-4766-95c9-866324f22c99
‘Meme’ coin seeks to tap crypto craze with London ad barrage
https://www.ft.com/content/b4da6160-a632-423b-8d8b-ca86489f1d22
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann and Michael Bruning. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Friday, October 29th, and this is your FT news briefing. |
| 0:08.8 | Today, we're going to take you to the New York Stock Exchange to meet some of the people who |
| 0:12.5 | run the place and talk about why humans still work on the trading floor. But first, we'll tell you |
| 0:17.7 | about Facebook's new name and speaking of new names. What is Floky E-New? So some enterprising |
| 0:26.0 | young souls have created a crypto coin called Floky E-New, purely on the back of the fact that |
| 0:32.2 | there is a puppy called Floky. A Mark Filipino, and here's the news you need to start your day. |
| 0:40.6 | Facebook is changing its name. The social media company will now be known as Metta. Facebook's |
| 0:46.7 | Chief Executive Mark Zuckerberg said that the name Facebook doesn't encompass everything the |
| 0:51.2 | company does. Here's the FT's Henna Murphy. This reflects a company's push to build what's known |
| 0:57.9 | as Metaverse, which is the idea of a sort of virtual shared world where we can interact as avatars. |
| 1:05.6 | So we'll all have our own avatar that represents ourselves. And in this world, we'll go, we'll |
| 1:10.4 | interact, socialize, we may work, buy things, you can go to concerts. This builds on something that's |
| 1:16.7 | been around for a while. We have gaming companies exploring these sorts of spaces, but Facebook is |
| 1:22.2 | setting out to be the Metaverse company. It's actually part of a bit of a bigger battle with other |
| 1:27.6 | companies in Silicon Valley, such as Google and Apple, who are also trying to build augmented |
| 1:34.3 | reality, the idea that we'll all walk around wearing smarter glasses. And so Zuckerberg's really |
| 1:40.7 | strongly positioning Facebook to be a winner in this feature operating for some while. |
| 1:47.4 | Henna Murphy is the FT's tech reporter. |
| 1:55.8 | Okay, so bond investors are anticipating that central banks will raise rates to fight inflation, |
| 2:00.8 | which, you know, will slow economies. So they've been selling off shorter term government debt. |
| 2:07.2 | This week, two and three year US Treasuries fell in price and their yields rose to their |
| 2:12.2 | highest point since March of 2020. The Federal Reserve has been relatively open about what it might |
... |
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