Taking the Byte out of TikTok
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 23 April 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
The New York Stock Exchange is polling market participants on the merits of trading stocks around the clock, ByteDance ready to ‘move to the courts’ after the US pushes ahead with a bill demanding the Chinese parent sell its viral app in the country, and traders have built up bets that the Federal Reserve could actually raise interest rates. Plus, Goldman Sachs has relocated its head of financial institutions group for Europe from London to Paris.
Mentioned in this podcast:
Goldman Sachs moves senior banker to Paris in post-Brexit revamp
TikTok gears up for legal fight in US to prevent ban
Investors price in growing chance of further Fed rate rises
New York Stock Exchange tests views on round-the-clock trading
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Denise Guerra, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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 UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | At Aquinore. UK. Good morning from the Financial Times. Today is Tuesday, April 23rd, and this is |
| 0:18.7 | your FT news briefing. Investment banking in London is taking another hit thanks to Brexit and the |
| 0:26.7 | fight over banning Tik-Tock in the US is heating up. Plus the New York Stock |
| 0:31.7 | Exchange is asking whether it should go 24-7. |
| 0:35.0 | I'm Sonia Hudson and here's the news you need to start your day. The Goldman Sachs is continuing with its post Brexit staffing reshuffle. |
| 1:01.0 | The bank has now moved its top investment banker for European financial |
| 1:05.0 | companies from London to Paris. Since the UK voted to leave the EU in 2016, |
| 1:11.1 | Goldman and other US financial companies have moved teams from London to |
| 1:15.7 | several cities in continental Europe. The biggest winner, the City of Light. |
| 1:20.8 | Wall Street Banks like JPMorgan and Bank of America chose Paris |
| 1:25.1 | for their main European location. The exodus from London hasn't been as big as |
| 1:31.2 | companies initially warned it would be, but it still hurts the city's |
| 1:35.5 | reputation as a global financial hub. Things are looking a little more urgent for Tik-Tok after this past weekend. |
| 1:49.9 | The U.S. House of Representatives voted on Saturday to move forward with legislation that |
| 1:55.0 | could result in a ban on the app in the country. |
| 1:58.8 | Lawmakers say the app is a national security issue because its parent company, |
| 2:03.2 | Bight Dance, is based in China. |
| 2:05.8 | Here to talk to me about it is the F.T. |
| 2:07.8 | is Ryan McMaro. |
| 2:09.2 | Hey Ryan. |
... |
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