UK childcare in crisis
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 22 December 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
Big Tech groups are ditching offices that are part of their European headquarters to cut costs and Tesla has fallen below ExxonMobil in stock market value for the first time since 2020. Plus, the FT’s Claer Barrett explains how British families are coping with the sky-high cost of childcare.
Mentioned in this podcast:
US tech giants ditch European offices
Money Clinic Podcast: Childcare in crisis
Tesla share slide sends valuation below ExxonMobil
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 Thursday, December 22nd, and this is your FT News Briefing. |
| 0:18.4 | Big US tech companies are ditching their European offices, |
| 0:21.9 | and investors have taken Tesla's stock down a peg. |
| 0:25.3 | Plus childcare costs in the UK have become a crisis for families. |
| 0:29.6 | We'll look at the impact. |
| 0:31.3 | It just doesn't seem like the government are doing anywhere near enough |
| 0:35.3 | about it, and all the while the birth rate is dropping. |
| 0:48.0 | American technology companies have been expanding for years. |
| 0:51.6 | Now, they're shrinking, or at least they're office spaces. |
| 0:55.6 | Sources tell the FT that top tech names like Alphabet, Meta, and Salesforce |
| 1:00.0 | are looking to abandon leases in London and Dublin. |
| 1:03.4 | And Amazon and Microsoft have put their London expansion plans on hold. |
| 1:08.2 | It's all about cost-cutting right now. |
| 1:10.4 | Tech giants are adjusting to a cooling global economy and drop in the value of their shares. |
| 1:16.4 | The empty office space will add to a pretty big headache for landlords. |
| 1:20.2 | Commercial real estate values have tumbled on both sides of the Atlantic |
| 1:23.7 | because of rising interest rates and people continuing to work from home. |
| 1:36.8 | British families took to the streets this past autumn to protest the cost of childcare. |
| 1:41.6 | Childcare in the UK is the most expensive in the world. |
... |
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