The ECB readies for rate cuts
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 27 May 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
The European Central Bank looks almost certain to be one of the first major central banks to cut rates, a tense dispute over Guyana is casting a shadow over Chevron’s bid to takeover Hess, and Thames Water pumped 14.2bn litres of sewage into the river Thames last year. Plus, the nuclear power industry is seeking to lure back thousands of retired engineers.
Mentioned in this podcast:
ECB is ready to start cutting interest rates, says chief economist
Blow to $53bn Chevron-Hess deal as investors advised to abstain
Nuclear industry brings back ‘silver tsunami’ of retirees
Thames Water pumped 14bn litres of sewage into Thames in central London in 2023
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Denise Guerra, Breen Turner, 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 equinore. UK. Good morning from the Financial Times. Today is Monday, May 27th, and this is your |
| 0:18.0 | F.T. News briefing. Investors are expecting good news from the European Central Bank next week, |
| 0:25.0 | and Chevron has hit a few snags in its bid to take over Hess. |
| 0:30.0 | Plus, nuclear power is making a comeback, but companies are struggling to recruit workers. |
| 0:36.0 | And that has immediate ramifications for global warming targets and attempts to bring down emissions by 2015. |
| 0:43.0 | I'm Kasha Brucellian and here's the news you need to start your day. The ECB is ready to cut interest rates and it could happen as soon as next week. |
| 1:07.0 | That's what a chief economist from the bank told the FT. |
| 1:10.0 | The ECB is scheduled to meet on June 6. |
| 1:13.2 | The move would kind of be a last in first out situation. |
| 1:16.8 | The ECB was one of the last major central banks |
| 1:19.4 | to start raising rates three years ago, |
| 1:21.8 | and now it would be one of the first to cut them. |
| 1:24.4 | Still don't get too excited. |
| 1:26.6 | Wage growth in the Eurozone continues to put a lot of pressure on the price of |
| 1:30.3 | services so the ECB probably won't be too heavy-handed in their cuts this year. |
| 1:37.0 | Shareholders in the Energy Company, Hesse, are voting this week on a takeover proposal |
| 1:48.0 | from Chevron. The process has been chock full of corporate drama, and it all stems from a dispute over an offshore |
| 1:55.2 | oil field in South America. Here to break it all down is the F.T.'s Miles McCormick, |
| 2:00.4 | hey Miles. Morning, Koshad. |
| 2:03.0 | So before we get into all that drama, tell me a little bit more about Chevron's proposal |
... |
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