Spring Statement highlights tough UK economy
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 26 March 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
Beijing has introduced environmental restrictions that would prevent Chinese companies from buying Nvidia’s bestselling processors, UK chancellor Rachel Reeves will update the country on Wednesday on the latest economic growth forecasts, and Shell has said it will cut costs and spending, especially in clean energy. Plus, individual investors have pumped almost $70bn into US stocks this year even as professional money managers are slashing their exposure.
Mentioned in this podcast:
Nvidia’s China sales face looming threat from Beijing environmental curbs
What will be in Rachel Reeves’ Spring Statement?
Shell slashes costs in ‘relentless’ drive to close valuation gap with US rivals
Retail traders plough $67bn into US stocks while investment giants flee
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, 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. |
| 0:35.8 | Today is Wednesday, March 26th, and this is your FT News |
| 0:38.9 | briefing. Invitya is worried about a crackdown in China, and don't expect fireworks from today's |
| 0:45.6 | UK Spring Statement. Plus, we'll get into why investors can't help themselves when it comes |
| 0:51.1 | to buying the dip. You are Pavlov's dog. |
| 0:55.3 | The bell rings and you slobber. |
| 0:58.0 | I'm Mark Filipino and here's the news you need to start your day. |
| 1:18.7 | I'm Mark Filipino. U.S. chipmaker, NVIDIA is facing another hurdle in China. |
| 1:22.7 | Beijing has introduced environmental restrictions for new data centers. |
| 1:28.2 | They could prevent Chinese companies from buying NVID Nvidia's best-selling advanced chips. |
| 1:34.4 | And sources tell the FT that over the past several months, Beijing has quietly discouraged the country's tech giants from purchasing those processors. |
| 1:38.3 | Now, Nvidia does about $17 billion worth of business a year in China, and the company is rushing to save that. |
... |
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