The future of the World Bank
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 27 February 2023
⏱️ 10 minutes
🧾️ Download transcript
Summary
Major US employers are reporting a dramatic improvement in hiring conditions despite official data, and the FT’s Aime Williams tells us what the World Bank might look like under the leadership of Ajay Banga. Plus, the FT’s Demetri Sevastopulo explains what the Chinese spy balloon saga means more broadly for the relationship between Beijing and Washington.
Mentioned in this podcast:
US companies say it is easier to hire despite low jobless rate
Ajay Banga, World Bank nominee must swap finance for climate
Beyond the balloon: the US-China spy game
Download the FT Edit app here: ft.com/ftedit
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. 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
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.8 | Good morning from the Financial Times. |
| 0:11.3 | Today is Monday, February 27th, and this is your FT News Briefing. |
| 0:19.2 | You know that tight US labour market we're always talking about? |
| 0:22.4 | Well, it might be looser than we think, and the World Bank is moving fast to try and |
| 0:27.3 | replace its outgoing president. Plus, the Chinese spy balloon saga is just the latest |
| 0:32.4 | tip for tat between Washington and Beijing, but this one is a little different. |
| 0:43.9 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:52.2 | US companies say that it's actually getting easier to hire people. |
| 0:56.5 | That's despite data showing historically low unemployment rates. |
| 1:00.3 | The FT looked at quarterly reports from the most recent earning season, |
| 1:04.0 | and found that senior executives at S&P 500 companies kind of like the employment environment |
| 1:09.5 | they're in. Fast food executives, the CEO of the Hilton Hotel Chain, and Boeing Chief Executive, |
| 1:15.2 | David Calhoun, all have said in the past few weeks that things are getting better, |
| 1:19.2 | that they're seeing more people apply for jobs. Now, if you had just looked at the numbers, |
| 1:24.5 | it would be a very different story. Strong US job growth figures at the start of February |
| 1:29.3 | triggered a market sell-off, investors are worried that more jobs mean higher interest rates |
| 1:34.8 | from central banks. The Biden administration has nominated Wall Street veteran Ajay Banga to |
| 1:46.5 | lead the World Bank. He would replace outgoing president David Mall Pass, who a few weeks ago |
| 1:51.8 | announced that he's stepping down. Banga is most recently the vice chair of the private equity |
| 1:56.8 | group General Atlantic, and he's the former CEO of MasterCard. His nomination to the World Bank, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.