US considers breaking up Google
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 10 October 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
HSBC’s top-paid bankers to bear the brunt of cost-cutting restructuring, and the UK Conservative party leadership race has been whittled down to two rightwingers. Plus, Germany’s economy is expected to shrink, and the US government is considering seeking the break-up of Google to end its monopoly in search.
Mentioned in this podcast:
US weighs Google break-up in landmark antitrust case
Jenrick vs Badenoch: Meet the next Conservative leader
Germany expects economy to shrink in 2024 after cutting forecast
Expensive senior bankers to bear brunt of HSBC restructuring
The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. 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 UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | At Aquinore. |
| 0:11.0 | The UK. |
| 0:12.0 | Good morning from the Financial Times. Today is Thursday, October 10th, and this is your |
| 0:18.2 | F.T. news briefing. H.S. B.C.'s new boss is getting right down to cutting costs. |
| 0:25.0 | And the Conservative Party is picking its next leader. |
| 0:29.0 | Plus, the US government has Google in its crosshairs. |
| 0:33.2 | Definitely the more sort of eye-poping one |
| 0:35.9 | remains potentially seeking structural remedies, |
| 0:39.2 | which in plain English just means a breakup of Google. I'm Sonia Hudson and here's the news you need to start your day. Some of H.S.B.C.'s highest paid executives might be shown the door soon. |
| 1:00.3 | Its new CEO, George Al-Heterie plans to merge its commercial and investment banking units. |
| 1:07.0 | It's his first big step to cut costs and includes getting rid of a few duplicate roles in senior management. |
| 1:14.7 | The move is designed to save about $300 million, which actually isn't that much. |
| 1:20.2 | It's just 1% of HSBC's total costs from last year. |
| 1:25.0 | So the merger is likely just the start of Al-HEDRE's overall cost-cutting program. |
| 1:30.8 | HSBC's profits did see a solid boost in recent years from higher interest rates, but now as |
| 1:37.8 | rates fall it faces the prospect of tighter margins. |
| 1:45.0 | The Conservative Party leadership race in the UK was whittled down to two people yesterday. |
| 1:54.0 | Right-wing candidates Kimmy Baidnock and Robert Genrick are currently neck and neck. |
| 2:00.0 | Voting now heads to Tory members, and the winner will be announced in a few weeks. |
| 2:05.3 | Whoever it is, they will be inheriting a fractured party, still reeling from its worst ever election defeat in July. |
... |
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.