TSMC's chip challenge
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 7 November 2022
⏱️ 12 minutes
🧾️ Download transcript
Summary
The European Central Bank has clashed with UniCredit over the Italian lender’s plans to return cash to shareholders and its failure to leave Russia, the world’s leading semiconductor producer, TSMC, is battling to stay ahead as world demands ever-smaller chips, the US Supreme Court’s decision to toss out constitutional abortion protections takes employer involvement in women’s health up another notch.
Mentioned in this podcast:
ECB and UniCredit clash over capital plans and Russia presence
TSMC battles to stay ahead as world demands ever-smaller chips
Corporate abortion policies further complicate choices for female staff
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 |
| 0:10.1 | Good morning for the Financial Times. |
| 0:12.4 | Today is Monday, November 7th, and this is your FT News Briefing. |
| 0:18.7 | The European Central Bank is clashing with one of Italy's biggest lenders. |
| 0:23.1 | Taiwan's semiconductor maker TSMC isn't just grappling with geopolitics, |
| 0:27.6 | it's got a technological challenge as well. |
| 0:30.4 | Plus, we'll look at how the U.S. Supreme Court's ruling on abortion |
| 0:33.8 | could make corporate efforts to support women employees more complicated. |
| 0:38.7 | I'm Jess Smith, Infermark Filipino, and here's the news you need to start your day. |
| 0:53.6 | The European Central Bank is bracing for recession, |
| 0:56.6 | and it's taking a tougher stance towards lenders' capital plans. |
| 1:00.1 | It's not happy with how much cash one of Italy's biggest lenders, |
| 1:04.0 | Unicredit, plans to pay out to shareholders. |
| 1:07.2 | Unicredit said in a letter back to the ECB that it has enough capital |
| 1:10.8 | and paying more to shareholders won't significantly weaken its balance sheet. |
| 1:15.0 | In addition to this point of tension, |
| 1:17.1 | the European Central Bank is also upset that Unicredit hasn't yet exited Russia. |
| 1:22.2 | Unicredit is one of only two European banks still doing business in Russia. |
| 1:26.9 | The ECB sees this as an unwelcome source of risk. |
| 1:34.8 | The world's leading semiconductor producer is Taiwan's semiconductor manufacturing company, |
| 1:39.9 | or TSMC. It's become dominant despite its location on an island's |
... |
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