What’s next for US Steel?
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 6 January 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
Eurozone economists warn the European Central Bank has been too slow to cut interest rates, and US Steel faces a bleak outlook after President Biden’s decision to block its sale. UK businesses plan price increases as the Budget drives up costs, and CrowdStrike has more than recovered the $30bn in market value it shed last year. Plus, China’s movie theatres are in crisis.
Mentioned in this podcast:
ECB has been too slow to cut rates, Eurozone economists warn
Joe Biden blocks Nippon Steel’s $15bn takeover of US Steel
UK businesses plan price increases as Budget drives up costs
CrowdStrike bounces back after triggering largest IT outage in history
China’s box office takings drop by a quarter as viewers turn to streaming
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
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Transcript
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| 0:00.0 | We're Equinor, an energy company searching for better. |
| 0:03.0 | Currently, we supply 27% of the UK's gas, 15% of its oil, |
| 0:07.7 | and we're playing our part in the UK's energy transition. |
| 0:11.0 | Our wind farms power 750,000 homes, |
| 0:14.0 | and we expect that to grow to over 7 million. |
| 0:16.5 | Last year, we invested 20% of our global growth spend in renewables |
| 0:20.1 | and lower carbon solutions. |
| 0:22.0 | We plan to increase that to 50% by 2030. |
| 0:25.4 | We're an energy company searching for better. |
| 0:28.4 | Equinore.co.uk. |
| 0:33.4 | Good morning from the Financial Times. |
| 0:36.1 | Today is Monday, January 6th, and this is your FT News Briefing. |
| 0:41.0 | Businesses in the UK are planning to boost prices, and we take a look at what's next for U.S. Steel. |
| 0:48.7 | Plus, crowd strike has bounced back after causing a global IT outage last summer. |
| 0:54.9 | It reported a 97% customer retention rate, so it really hasn't lost many major customers. |
| 1:02.0 | I'm Kasha Bursayan, and here of UK companies are planning to increase prices soon. |
| 1:23.4 | And they're putting the blame on rising labor costs, especially those that were introduced in October's budget. |
| 1:30.0 | The government has come under fire for its decision to increase the living wage. |
| 1:34.6 | It also raised the amount employers have to contribute to national insurance. |
| 1:39.2 | So now businesses are facing a bit of a confident slump heading into 2025. |
| 1:51.7 | U.S. President Joe Biden blocked the takeover of U.S. steel by its Japanese rival Nippon |
| 1:58.6 | on Friday. And there's a lot at stake here with this decision. For one, |
... |
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