Travis Kalanick’s excellent (and secret) venture
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 21 September 2022
⏱️ 9 minutes
🧾️ Download transcript
Summary
The Federal Reserve is expected to raise interest rates by 0.75 per cent today, Goldman Sachs is expanding its transaction banking business in Europe, and former Uber chief executive Travis Kalanick has tried to keep his new “dark kitchens” venture as secretive as possible.
Mentioned in this podcast:
Federal Reserve set to raise benchmark interest rate
Goldman Sachs hunts new revenues in EU transaction banking push
Travis Kalanick expands ‘dark kitchens’ venture across Latin America
Microsoft invests in Travis Kalanick’s CloudKitchens start-up
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
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Transcript
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| 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 Wednesday, September 21st, and this is your FT News Briefing. |
| 0:18.2 | Financial markets are fixated on the Federal Reserve today. |
| 0:21.4 | Goldman Sachs is building up a new business and it's |
| 0:24.2 | uncharacteristically boring. |
| 0:26.5 | Plus Uber's co-founder and former CEO Travis Kalanick |
| 0:30.2 | is reinventing himself. |
| 0:31.8 | But it's really hard to find out what he's doing. |
| 0:34.9 | This has been very much under wraps since Kalanick took over that company, |
| 0:40.7 | and that's clearly, clearly by design. |
| 0:43.0 | If he's Dave Lee did find out, a lot, and he'll tell us later in the show. |
| 0:48.4 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:54.6 | Today, the US Federal Reserve is set to raise its benchmark policy rate by three quarters |
| 1:04.0 | of a percentage point for the third time in a row. |
| 1:07.2 | That would bring the Fed's benchmark rate to above three percent. |
| 1:10.3 | For a little context, it started the year at zero. |
| 1:13.6 | That would be the most aggressive monetary tightening campaign since the early 1980s. |
| 1:19.0 | Some economists have speculated the Fed will opt for a full percentage point increase. |
| 1:24.4 | Markets have been bracing for this. |
| 1:26.0 | Yesterday, leading US stock indices all ended the trading day down about one percent. |
... |
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