Behind the Money

In March, Alvaro Bedoya and Rebecca Kelly Slaughter, two Democratic members of the Federal Trade Commission, were fired from their jobs by the Trump administration. They say this was done illegally and are challenging their dismissals. Michela talks with Bedoya about what happened, and why he thinks businesses should be concerned.   - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Trump’s move to fire us is a terrible warning for the US economyTwo Democrats on US antitrust panel say they were ‘illegally fired’ by Donald TrumpCould Donald Trump fire Federal Reserve chair Jay Powell? - - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Alvaro Bedoya on X (@BedoyaFTC). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 7 May 2025

Goldman Sachs may have picked its next chief executive years before any planned handover. It has raised eyebrows on Wall Street and would break from the usual process, where multiple candidates typically compete for the top job down to the last second. But it also completes an incredible comeback by current Goldman Sachs CEO David Solomon. The FT’s US banking editor Joshua Franklin explains how Solomon reasserted his control over Goldman Sachs after a near rebellion and whether his potential successor is up to the task of running one of the world’s biggest banks. Clips from CNBC, Goldman Sachs - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Has Goldman Sachs already chosen its next CEO?Goldman Sachs has lost its wayGoldman Sachs hands chief David Solomon $80mn retention award- - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Joshua Franklin on X (@FTJFranklin). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 30 April 2025

Markets shook after US President Donald Trump announced his so-called reciprocal tariffs earlier this month. But there was one market in particular that got investors particularly worried: Treasuries. What’s usually a safe haven asset suddenly saw huge sell-offs. Trump managed to avoid further pain by pausing large chunks of his tariffs, but the sell-off prompts a discussion about significant structural flaws in the market. The FT’s US markets editor Kate Duguid explains which cracks in the US Treasuries market we can't ignore. Clip from The Wall Street Journal - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Why did Donald Trump buckle?Is the world losing faith in the almighty US dollar?The debt-fuelled bet on US Treasuries that’s scaring regulators - - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Kate Duguid on X (@kateduguid). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 23 April 2025

Over the past three decades, China has built itself into a manufacturing powerhouse. The plan was simple: use exports as a way to avoid becoming too dependent on the west. But with US President Donald Trump imposing 145 per cent tariffs on the country, this strategy now hangs in the balance. The FT’s Beijing bureau chief Joe Leahy explains how Beijing built its export machine and whether its plan to sell the world cheap goods could go wrong. Clip from European Commission.  - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading:Will China’s manufacturing juggernaut run out of road? How China’s record trade surplus helped spark Trump’s tariff war China says ‘sky won’t fall’ as exports surge ahead of Donald Trump’s tariffs  - - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Joe Leahy on X (@leahyjoseph). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 16 April 2025

US President Donald Trump’s announcement of “reciprocal” tariffs caused havoc in the markets, notably hitting Big Tech stocks such as Apple. The company lost more than $300bn in market value the next day, and its path forward is complicated. The FT’s San Francisco correspondent Michael Acton explains why the iPhone maker is vulnerable, and what options it has to minimise the damage. Clips from PBSNewshour, C-SPAN - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading:Apple loses more than $300bn in market value from Trump tariff hitApple and other US tech groups hit as Donald Trump targets suppliersFraying transatlantic ties will cost companies dearly And for further listening: Why Apple can’t leave China - - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Michael Acton on X (@MActon93). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 9 April 2025

A huge chunk of any typical bank’s profits comes from charging interest. But what happens when you can’t do that? This week, we’re traveling to Pakistan with the FT’s Humza Jilani, where the country has decided to make its entire banking sector align with Islamic law, which forbids charging interest. We’ll discuss how Islamic banks function and if this banking model can become Pakistan’s dominant system.  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Meezan Bank’s soaring shares herald rise of Islamic finance in PakistanClerics’ rule change threatens to throw Islamic debt market into turmoilWorld Bank approves 10-year $20bn Pakistan lending package- - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Humza Jilani (@humza_jilani) and Saffeya Ahmed on X (@saffeya-ahmed), or follow Saffeya on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 2 April 2025

Years ago, an ailing company like Walgreens Boots Alliance may have seemed like a prime acquisition target for deal-hungry private equity firms. But many have backed away from retail recently, leaving an opening for groups like Sycamore Partners who are willing to buck the trend. Sycamore announced this month that it would take the global pharmacy business private in a $23.7bn debt and equity deal. The FT’s Due Diligence reporter, Amelia Pollard, explains the well-worn playbook that Sycamore has used on past retail companies, and whether it will work this time with a chain that has its own share of unique problems.   Clips from Bloomberg, CNBC, CBS - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Retail’s last barbarian: the private equity group about to play hardball with BootsWhat went wrong after Walgreens bought Boots? Walgreens bondholders could be winners from its debt-laden buyout- - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Amelia Pollard (@ameliajpollard) on X or (@pollard.bsky.social) on Bluesky. Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.  For more from Amelia and her team, sign up for the Due Diligence newsletter.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 26 March 2025

The surging price of gold is leading to some unexpected outcomes. The FT’s Aanu Adeoye traveled to Ghana to see how this is playing out among two of the country’s top commodities: gold and cocoa. Aanu and the FT’s Susannah Savage explain how the two commodities are linked and how it is impacting the people who live in the country.   Clips from NBC, ABC, CBS - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:How illegal gold mining is fuelling a chocolate shortageFood groups develop a taste for cocoa alternativesFrom London to New York via Switzerland: the booming trade in gold bars- - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Aanu Adeoye (@aanuadeoye) and Susannah Savage (@SavageSusannah) on X. Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 19 March 2025

Disputes over power and pay aren’t unusual at Wall Street’s top firms. What isn’t ordinary is when the conflict turns into a decade-long legal battle. That was the case for boutique investment firm Perella Weinberg Partners and their former star banker, Michael Kramer. After 10 years, their dispute recently went to trial in Manhattan. The FT’s Wall Street editor Sujeet Indap had a seat inside the courtroom, and tells us what he learned about the inner workings of the firm. Clips from Bloomberg, Fox Business - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Perella Weinberg trial lifts veil on bitter feud among top bankers Court brawl reveals fractious world of investment banking Wall Street’s battle of the bankers - - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Sujeet Indap on X (@sindap) or on Bluesky (@sindap.bsky.social). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 12 March 2025

Little is known about Russia’s “shadow fleet”. These ships have been used to move Russian oil around the globe and avoid restrictions put in place by western governments after Vladimir Putin launched a full-scale invasion of Ukraine in 2022. The existence of the shadow fleet is worth billions of dollars a year to the Kremlin. But who owns these ships? How were they acquired? Who oversees their operations? Many of these questions went unanswered, until a recent FT investigation. Senior energy correspondent Tom Wilson explains what he found and what could happen next for the fleet as an end to the war is discussed among world leaders.  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:How Russia’s ‘shadow fleet’ gets its ships Shares in shipbroker Braemar fall after FT report on Russian ‘shadow fleet’UK cracks down on Russia’s ‘shadow fleet’EU agrees new Russia sanctions in the face of US push to end Ukraine warTo see some of the vessels mentioned in this episode, check out the Bosphorus Observer, the blog of ship spotter Yoruk Isik.- - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Tom Wilson on X (@thomas_m_wilson). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 5 March 2025

Vanguard became a powerhouse money manager thanks to a commitment to the philosophy of founder Jack Bogle. Now, with a new chief executive, can the firm push into other areas of financial services and reshape those too? The FT’s US managing editor Brooke Masters explains how the company’s guiding mantra could help or hinder these plans. Clips from CNBC  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:How Vanguard plans to play disruptor againVanguard puts pressure on rivals with large round of fee cutsVanguard plans fresh push into active fixed-income market- - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Brooke Masters on X (@brookeamasters), or on Bluesky (@brookeamasters.ft.com) Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 26 February 2025

This January, DeepSeek made an announcement that changed the artificial intelligence landscape. The Chinese start-up said that it had trained the latest in a series of competitive AI models, which appeared to be built much more cheaply than those of Silicon Valley competitors. The FT’s China technology correspondent, Eleanor Olcott, first wrote a story about the company last summer. She’s on today to discuss how DeepSeek’s founder Liang Wenfeng was able to finance and grow his company at a time when start-up funding is scarce in China, and often comes with too many strings attached.  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Liang Wenfeng, the DeepSeek founder panicking the tech worldThe global AI race: is China catching up to the US? Xi Jinping seizes DeepSeek moment to restore China tech chiefs to spotlight- - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Eleanor Olcott on X (@EleanorOlcott). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 19 February 2025

The New York Stock Exchange wants to get in on a growing trend amongst investors: overnight stock trading. The largest exchange in the world recently submitted a proposal to allow shares to trade for 22 hours a day. US markets editor Jennifer Hughes looks into the thorny questions this proposal raises about how equity markets function.  Clips from New York Stock Exchange  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Is Wall Street ready to stay up all night?US regulators approve first round-the-clock stock exchangeWhat does Robinhood want to be when it grows up?- - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Jennifer Hughes on X (@jennhughes13). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 12 February 2025

US President Donald Trump wants energy producers to drill for more oil. He claims it will lower prices for consumers and tackle inflation. But oil companies have a different set of priorities — and those could send them on a collision course with Trump. Clips from C-Span, Fox, ABC  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:When peak Chinese oil demand meets ‘drill, baby, drill’ A shale boom is not Donald Trump’s gift to give Wall Street will stymie Donald Trump’s US oil surge plan, say shale bosses- - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Amanda Chu (@amandalanchu) and Jamie Smyth (@jamiesmythft.bsky.social). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.bsky.social), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 5 February 2025

Mexico’s new president Claudia Sheinbaum is pursuing an ambitious agenda for her country. It promises a better standard of living for Mexicans. But investors in the country’s economy have their concerns – and now there’s a new threat on the horizon: US President Donald Trump. The FT’s Mexico and Central America correspondent Christine Murray explains how Sheinbaum will navigate the nation’s economic path forward.   Clip from Global News  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Mexico’s new president digs in with radical ideas as Trump threat loomsMexico pledges to shrink trade deficit with China in nod to Donald TrumpMexico’s first female president to take power under mentor’s shadow- - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Christine Murray on X (@chrissiemurray). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.bsky.social), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 29 January 2025

Every so often a cool new financial innovation springs up and gains popularity on Wall Street, promising juicy returns for investors. That’s why “synthetic risk transfers” or SRTs are in fashion. But ever since the financial crisis, trendy acronyms have also made some people nervous. And it’s recently caught the attention of organisations such as the IMF. The FT’s Alphaville editor Robin Wigglesworth explains why he’s been following this and whether regulators should be raising the alarm.  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Inside Wall Street’s booming $1tn ‘synthetic risk transfer’ phenomenonPrivate credit is even larger than you thinkMake Europe (securitisation) great again - - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Robin Wigglesworth on Bluesky (@robinwigglesworth.bsky.social) or on X (@RobinWigg). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.bsky.social), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 22 January 2025

Wall Street dealmakers are itching for an M&A revival during president-elect Donald Trump’s second term. But as he prepares to move back to the White House, the picture appears more complicated. The FT’s head of Lex, John Foley, explains what dealmaking over the next four years might look like and the surprising similarities it could share with Joe Biden’s administration.  Clips from Bloomberg, CNBC, DW News, FOX Business - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:US Steel’s tortuous un-merger is a deal for the agesPlaying the M&A Trump cardDeals are back, baby (for real this time?)Will Trump’s new antitrust enforcers help make M&A great again?- - - - - - - - - - - - - - - - - - - - - - - - - -  Follow John Foley on Bluesky (@johnsfoley.bsky.social). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.bsky.social), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 15 January 2025

Pro-crypto investors spent millions to re-elect Donald Trump to the US presidency, after he told voters he wanted to make America the “crypto capital of the planet”. As the second Trump administration begins, what does the crypto sector want most? And, what are the risks if they get it?  Clips from Sky News, Bitcoin Magazine - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading:Crypto industry dreams of a golden era under TrumpThe crypto crown princes who could ‘win, win, win’ under Trump The grim ghost of crypto future - - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Nikou Asgari (@nikasgari) and Michela Tindera (@mtindera07) on X, Bluesky (@mtindera.bsky.social) or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 8 January 2025

In early December, the Financial Times and Schroders selected the 2024 winner of the Best Business Book of the Year. That book is called Supremacy: AI, ChatGPT and the race that will change the world, and it’s written by tech journalist Parmy Olson. In this special episode of Behind the Money, the FT’s senior business writer Andrew Hill interviews Parmy Olson about her book and the importance of oversight as artificial intelligence becomes more intertwined with our work and society.  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Winner Parmy Olson on AI: ‘It’s not uncontrollable’FT and Schroders Business Book of the Year 2024 — the shortlistBusiness Book of the Year Award 2024: winners pick their favourites Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 1 January 2025

From Slate Money: South Korea and France are the latest governments to fall apart. Felix Salmon, Emily Peck, and Elizabeth Spiers discuss the public conversation around the failures of the US healthcare system that was sparked by the shocking murder of UnitedHealthcare CEO Brian Thompson. Then, South Korea and France follow Germany in having a governmental meltdown. What’s going on with all of this political chaos? And finally, the hosts discuss a piece in The Ringer about why headlights are just way too bright and what, if anything, is being done about it. This episode originally aired on December 7th. Podcast production by Jessamine Molli and Cheyna Roth. Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 25 December 2024

Tech companies such as Google, Amazon and Microsoft need loads of electricity to power their artificial intelligence goals, and they are looking into all options, including nuclear power, to achieve them. That’s why Microsoft has partnered with a utility company to restart a reactor at Three Mile Island, the site of the worst nuclear disaster in US history. The FT's US energy editor Jamie Smyth explains what challenges lie ahead with a 2028 deadline looming.  Clips from CBS News, ABC News, WNEP - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Restart of Three Mile Island tests US appetite for nuclear revivalResurgent US electricity demand sparks power grid warnings Big Tech’s dash for nuclear power- - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Jamie Smyth and Michela Tindera on X (@JamieSmythF) (@mtindera07), on Bluesky (@jamiesmythft.bsky.social), (@mtindera.bsky.social) or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 18 December 2024

This week, Michela joins live from the FT’s Global Banking Summit in London. She sits down with three reporters and editors to analyse how the banking industry will shape up during Donald Trump’s second term in the White House. She’s joined by the FT’s US financial editor Brooke Masters and banking editor Ortenca Aliaj alongside Michael Klimes, investment banking and capital markets editor at The Banker. They discuss what banks stand to gain and lose, and what the industry may look like four years from now.  The conversation was recorded on December 3 2024.  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:A Wall Street giddy over Trump should remember historyIn Donald Trump, Wall Street will get what it wanted — and what it did notTrump 2.0: winners, losers and Elon- - - - - - - - - - - - - - - - - - - - - - - - - -  Michela recently joined Bluesky, follow her there: @mtindera.bsky.social, Her guests are also on Bluesky: Brooke Masters (@brookeamasters.bsky.social) and Ortenca Aliaj (@ortenca.bsky.social), or follow Michael Klimes reporting at FT’s The Banker (@thebanker.bsky.social)  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 11 December 2024

Not long ago, the Swedish battery maker Northvolt was seen as Europe's best hope for staying competitive with other global players during the green transition. Investors flocked to it, and it even became the continent’s best funded startup. But things look very different now. The company is fighting for survival and even filed for Chapter 11 bankruptcy in November. The FT’s Nordic and Baltic bureau chief Richard Milne spent years reporting on Northvolt and explains its meteoric rise and what its implosion means for Europe’s battery industry.  Clip from Aftonbladet- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:How Europe’s battery champion descended into crisis‘There was so much promise’: How Northvolt tumbled into bankruptcyThe Northvolt dilemma: can European EVs avoid relying on Asian batteries?- - - - - - - - - - - - - - - - - - - - - - - - - - On X, follow Richard Milne (@rmilneNordic) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 4 December 2024

This week, we’re going back to Omaha, Nebraska. Behind the Money and the FT’s senior corporate finance correspondent travelled there this spring to attend Berkshire Hathaway’s annual shareholder meeting. America’s “last great” conglomerate is preparing for a leadership transition, and we examined what Warren Buffett’s empire will look like after he’s no longer at the helm. Clips from CNBC - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: Berkshire after Buffett: is Greg Abel up to the top job?Berkshire after Buffett: prized energy business faces upheavalBerkshire after Buffett: the risk ‘genius’ pulling the insurance stringsBerkshire after Buffett: can any stockpicker follow the Oracle? - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Eric Platt (@ericgplatt) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 27 November 2024

Lately, China’s economy has been in the doldrums, with the risk of a “deflationary spiral” lurking. Plus, toss in the election of Donald Trump in the US — and reaching the economic goals President Xi Jinping set more than a decade ago looks even more difficult. The FT’s China bureau chief Joe Leahy examines Beijing’s latest plans to fix the country’s economy and whether it will be enough to keep up with Xi’s long-term plans for growth.   Clips from Bloomberg, CBS, Yahoo Finance - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Why Xi Jinping changed his mind on China’s fiscal stimulusWhy China is betting on local governments to spur the economyIf China’s statistics can’t be scrutinised, doubts about the economy will only grow- - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Joe Leahy (@leahyjoseph) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 20 November 2024

Who will corporate America's winners and losers be under four more years of Donald Trump? This week, the FT’s Brooke Masters, Stephen Morris and Jamie Smyth explain what changes a second Trump administration will bring to three crucial sectors: Wall Street, tech and energy. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Can the renewables boom withstand Trump?A Wall Street giddy over Trump should remember historyWho’s who in the Musk ‘A-team’ vying to shape Trump 2.0Trump 2.0: winners, losers and Elon- - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Brooke Masters (@brookeamasters), Stephen Morris (@sjhmorris), Jamie Smyth (@JamieSmythF) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 13 November 2024

Private equity earned a reputation as a ruthless and lucrative business. But over the past few years, large groups have been doing something that seems like the opposite of their cutthroat image: giving equity worth hundreds of thousands of dollars to the ordinary workers at the companies they own. Antoine Gara, the FT’s US private & institutional capital correspondent, explains how these payouts make business sense for private equity firms – and help soften their tough image. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Workers getting share in windfalls as private equity firms soften imagePrivate equity groups’ assets struggling under hefty debt loads, Moody’s saysBlackstone plans to list some of its largest investments - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Antoine Gara (@antoinegara) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 6 November 2024

On November 5, voters in the US will head to the polls to decide who should be the next president: Donald Trump or Kamala Harris. But over the past several months, people from around the world have been placing millions of dollars on who will win that race. As interest in betting on US politics reaches a new high, the FT’s Oliver Roeder and Sam Learner explain how these markets work and what can (and can’t) be learned from them.  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Prediction markets can tell the future. Why is the US so afraid of them?Take political betting markets literally, not seriouslyWhat the polls can’t tell us about America’s election- - - - - - - - - - - - - - - - - - - - - - - - - -  Attend the FT Global Banking Summit, December 3 and 4 in London: Enter BTM20 for a 20% discount (applicable on all ticket types), register here. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 30 October 2024

Activist investors tend to rely on an element of surprise to catch their target company off guard: quietly building up a stake and swooping in with a slide deck full of strategic changes at just the right moment. That’s not what happened at the beginning of a recent campaign led by the hedge fund Starboard Value against pharmaceutical giant Pfizer. The FT’s Oliver Barnes, US pharmaceutical and biotech correspondent, and Maria Heeter, US deals correspondent, examine what went awry and what happens next.    Clips from CBS, ABC, CNBC, NBC    - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading:Starboard plotted a campaign against Pfizer’s chief. Then a blank email dropped in his inboxWhy Pfizer sorely needs the activist treatment Starboard-Pfizer battle strains Guggenheim’s relationship with drugmaker - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Oliver Barnes (@mroliverbarnes), Maria Heeter (@HeeterMaria) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  - - - - - - - - - - - - - - - - - - - - - - - - - -  Attend the FT Global Banking Summit, December 3 and 4 in London: Enter BTM20 for a 20% discount (applicable on all ticket types), register here.   Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 23 October 2024

When it comes to trading, Wall Street’s investment banks are falling further behind. And independent trading firms, such as Jane Street and Citadel Securities, are taking the lead in everything from stocks and options to derivatives and crypto. The trading firms argue that they’ve made the process more efficient, but what risks does that carry? The FT’s US banking editor Joshua Franklin explains.    Clips from Lionsgate- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:New titans of Wall Street: how trading firms stole a march on big banksNew titans of Wall Street: how Jane Street rode the ETF wave to ‘obscene’ riches‘King of the geeks’: how Alex Gerko built a British trading titan The limits of bond market electronification- - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Joshua Franklin (@FTJFranklin) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com  Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 16 October 2024

After the financial crisis, dealmaking among banks in different countries in Europe fell to a standstill. But recently, Italian lender UniCredit revealed that it had built up a stake in Germany’s Commerzbank, prompting discussions of a possible tie-up. EU policymakers and politicians believe cross-border deals like this could unlock European banking and make it more competitive globally. So why is there resistance? The FT’s European banking correspondent Owen Walker explains.  Clips from Bloomberg, BBC  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Andrea Orcel plots UniCredit’s boldest move yet on CommerzbankAndrea Orcel, Commerzbank and the redemption tradeEurope’s most notorious banking dealmaker returns- - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Owen Walker (@OwenWalker0) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 9 October 2024

After mounting a comeback, Netflix shares recently hit all-time highs. But its success is in stark contrast to the rest of Hollywood, which is struggling to adapt in an industry that is becoming more and more dominated by tech companies. The FT’s Los Angeles bureau chief Chris Grimes explains how Netflix came out on top and how its dominance could change the rules of Hollywood. Clips from AP Archive, CBS, Evening Standard, Reuters, NBC - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading:How Netflix won the streaming warsNetflix profits surge after password-sharing crackdownStreaming wars are over and Netflix wonNetflix faces tough battle in advertising wars - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Chris Grimes (@grimes_ce) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 2 October 2024

Volkswagen is facing a crisis. Often considered a symbol of Germany’s industrial power, it’s now reckoning with a difficult transition to electric vehicles, among other issues. And now, management is considering breaking a long-held taboo: closing German factories. Patricia Nilsson, the FT’s Frankfurt correspondent, heads to VW’s headquarters in Wolfsburg to examine the fallout and what’s next.     Clips from Bloomberg, DW News, CNN - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading:For European carmakers, EVs are a Catch-22Why Volkswagen is seeking to break the taboo of closing German plantsVW audit of Xinjiang plant failed to meet international standards - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Patricia Nilsson (@patricianilsson) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 25 September 2024

Companies in Japan have long avoided foreign acquisitions. But Canada-based Alimentation Couche-Tard’s recent unsolicited bid for the owner of the 7-Eleven convenience store chain is testing that premise. The FT’s Tokyo bureau chief Leo Lewis examines how these events could shape corporate Japan’s future.   - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading:The takeover fight that could reshape Japan After 7-Eleven, Japan’s M&A scene may never be the same again7-Eleven bid is the next stage in revitalising corporate Japan  - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Leo Lewis (@urbandirt) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 18 September 2024

As Jay Powell’s Federal Reserve contemplates making the first interest rate cut in more than two years, we’re taking a step back with the FT’s US financial commentator Robert Armstrong. How did Powell tame inflation without crashing the economy? And how might history judge his leadership? Clips from Associated Press  - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading:Is Jay Powell lucky or good?Remain calm Martin Sandbu’s column: A self-congratulatory inflation narrative at Jackson Hole  - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Robert Armstrong (@rbrtrmstrng) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Want to hear more from Rob? Listen to the Unhedged podcast.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 11 September 2024

This week, we’re revisiting an episode from last year. For decades, the global centre for oil trading has been Geneva, Switzerland. But Russia’s war in Ukraine changed that. Sanctions have made it harder for western traders to move Russian oil. Now, traders are flocking to a new trading hub that has no restrictions on oil from Russia: the United Arab Emirates. The FT’s Tom Wilson explains how this shift has helped the UAE replace Switzerland, and whether the global energy industry is shifting away from western economies.  - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading:How Dubai became ‘the new Geneva’ for Russian oil tradeSwitzerland questions oil trader over sidestep of Russian sanctionsLetter: Energy trading is opaque — and that suits Big Oil - - - - - - - - - - - - - - - - - - - - - - - - - -  Register now for the FT Weekend Festival, and claim £24 off your pass using promo code FTPodcast at: ft.com/festival - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Tom Wilson (@thomas_m_wilson) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read the transcript of this episode which was first aired in August 2023 Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 4 September 2024

Private credit took Wall Street by storm. But at a software company called Pluralsight, recent loan troubles are now highlighting risks that could be hidden in the sector. The FT’s senior US corporate finance correspondent Eric Platt and Due Diligence reporter Amelia Pollard walk through what went wrong with Pluralsight, and how that could shape private credit’s future.  Clips from Bloomberg, CNBC - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading:A messy loan restructuring highlights risk lurking in private creditPrivate credit is even larger than you thinkA buyout gone wrong creates fireworks in the private credit marketVista and co-investors lose $4bn in Pluralsight restructuring - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Eric Platt (@ericgplatt), Amelia Pollard (@ameliajpollard) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Register now for the FT Weekend Festival, and claim £24 off your pass using promo code FTPodcast at: ft.com/festival Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 28 August 2024

Hundreds of companies have moved their headquarters to Texas in recent years, including big names like Tesla, HP and Charles Schwab. They’ve been enticed by low taxes, light regulation and the promise to run their businesses on their own terms. But the FT’s Houston correspondent Myles McCormick explains that there might be limits to that message of economic freedom. Clips from ABC News, CBS, Fox 26, KHOU 11 - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading:Will US companies keep faith in the ‘Texas miracle’?Beware the Texas advance on Wall StreetTexas group plans stock exchange to compete with NYSE and Nasdaq For further listening: Why Elon Musk is breaking up with Delaware - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Myles McCormick (@mylesmccormick_) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  - - - - - - - - - - - - - - - - - - - - - - - - - -  Register now for the FT Weekend Festival, and claim £24 off your pass using promo code FTPodcast at: ft.com/festival Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 21 August 2024

Indian equities are soaring right now. The country’s benchmark Nifty 50 index has doubled in just five years, beating out the pace of Japan, China and even the US. And it’s all being driven by millions of domestic investors who are piling into the market for the first time. But this boom has regulators sounding the alarm. The FT’s Mumbai correspondent Chris Kay explains why a bubble might be forming and what could happen to these first-time investors if it bursts.  - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:The young investors gambling on Indian stocksInvestors bet an election win by Narendra Modi will extend India’s stock market boomIndia closes in on China as largest emerging market- - - - - - - - - - - - - - - - - - - - - - - - - - On X, follow Chris Kay (@christopherkay) and Saffeya Ahmed (@saffeya_ahmed). Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 14 August 2024

This week, we’re bringing you something from our fellow FT podcast, The Economics Show with Soumaya Keynes.  Sir Angus Deaton won the Nobel Prize in Economics in 2015. So when he says he is rethinking many of his assumptions about the field, it matters. Today on the show, Soumaya discusses what we are getting wrong about everything from inequality to immigration to the role of globalisation in the reduction of poverty. Soumaya Keynes writes a column each week for the Financial Times. You can find it here. Subscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen. Read a transcript of this episode on FT.com - - - - - - - - - - - - - - - - - - - - - - - - - -  Plus, tell us what you think about Behind the Money! Complete this survey before August 29 for a chance to win a pair of Bose QuietComfort 35 Wireless headphones (terms and conditions can be found here). Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 7 August 2024

Remuneration among CEOs in the US is rising quickly. It’s been hard to miss recent examples of massive pay packages, like for Tesla’s Elon Musk. But that growth is far outpacing that of wages for everyday workers in the US. The FT’s corporate governance reporter Patrick Temple-West outlines some reasons this is happening and looks at whether change is afoot.  Clips from Associated Press, CNBC, BBC News- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:US executive pay rises at fastest rate in 14 years Business school teaching case study: executive pay and shareholder democracy UK-US CEO pay gap widens as FTSE bosses’ remuneration stagnates - - - - - - - - - - - - - - - - - - - - - - - - - - Plus, tell us what you think about Behind the Money! Complete this survey before August 29 for a chance to win a pair of Bose QuietComfort 35 Wireless headphones (terms and conditions can be found here). And, send us a question: Behind the Money is teaming up with the FT’s Moral Money newsletter to answer your questions about what “responsible” business and finance really looks like in the 21st century. That means topics like sustainability, ESG, diversity and inclusion and clean energy investment. We might read out, or play the question from your voicemail with your name, on the show. To get in touch, record a voice message here: sayhi.chat/0humz, or send us an email with your question to [email protected].  On X, follow Patrick Temple-West (@temple_west) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 31 July 2024

Two recent Supreme Court decisions have taken a lot of rulemaking power away from federal agencies. And it could shake up how businesses in the US operate. Many chief executives are happy about these decisions — the less regulation, the better. But could these rulings come with their own risks? Clips from Bloomberg, CBS News, CNBC- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:US businesses may soon find that deregulation comes with risksSupreme Court EPA ruling puts regulators in handcuffsThe abortion pill case is a disaster for innovation everywhere- - - - - - - - - - - - - - - - - - - - - - - - - - Plus, tell us what you think about Behind the Money! Complete this survey before August 29 for a chance to win a pair of Bose QuietComfort 35 Wireless headphones (terms and conditions can be found here).On X, follow Brooke Masters (@brookeamasters) and Saffeya Ahmed (@saffeya_ahmed). Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 24 July 2024

The Labour Party has come back into power in the UK after 14 years. For the City of London, this brings hope for some stability amid the rise of competing financial sectors around the world. But will efforts to revitalize markets and the economy work out? The FT’s chief UK business correspondent Michael O’Dwyer analyzes the expectations of City of London executives from the newly elected government.  Clips from BBC, Today, NBC News, CNN- - - - - - - - - - - - - - - - - - - - - - - For further reading:How will Rachel Reeves run the UK’s finances?The City of London’s wish list for the new Labour governmentThe club of City executives plotting a revival for the UK’s capital markets  - - - - - - - - - - - - - - - - - - - - - - - Plus, tell us what you think about Behind the Money! Complete this survey before August 29 for a chance to win a pair of Bose QuietComfort 35 Wireless headphones (terms and conditions can be found here).And, send us a question: Behind the Money is teaming up with the FT’s Moral Money newsletter to answer your questions about what “responsible” business and finance really looks like in the 21st century. That means topics like sustainability, ESG, diversity and inclusion and clean energy investment. We might read out, or play the question from your voicemail with your name, on the show. To get in touch, record a voice message here: sayhi.chat/0humz, or send us an email with your question to [email protected].  On X, follow Michael O’Dwyer (@_MODwyer) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 17 July 2024

The owner of motor racing giant Formula One is racing to capture the American sports audience. Thanks, in part, to efforts like the Netflix series Drive to Survive, it has caught the attention of many new fans. But FT sports business reporter Samuel Agini examines whether this league’s push into the US will stick — and keep growing. Clips from Netflix, Formula 1, KVVU    - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Formula One’s growing painsBeauty mogul Charlotte Tilbury wants to give F1 a makeoverThe Business of Formula One- - - - - - - - - - - - - - - - - - - - - - - - - - Plus, tell us what you think about Behind the Money! Complete this survey before August 29 2024 for a chance to win a pair of Bose QuietComfort 35 Wireless headphones (terms and conditions can be found here).And, send us a question! Behind the Money is teaming up with the FT’s Moral Money newsletter to answer your questions about what “responsible” business and finance really looks like in the 21st century.That means topics like sustainability, ESG, diversity and inclusion and clean energy investment. We might read out, or play the question from your voicemail with your name, on the show. To get in touch, record a voice message here: sayhi.chat/0humzOn X, follow Samuel Agini (@SamuelAgini), Madison Darbyshire (@MADarbyshire) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 10 July 2024

This week, we’re revisiting an episode from earlier this year. BlackRock chief executive Larry Fink has been on the hunt for the money manager’s next “transformational” deal. In January, Fink revealed that he had finally found it with the acquisition of a private capital firm, Global Infrastructure Partners. The FT’s US financial editor Brooke Masters and US private capital correspondent Antoine Gara explain why BlackRock wanted GIP, and how this deal sets the agenda for Wall Street this year. Clips from CNBC  Plus, send us a question! Behind the Money is teaming up with the FT’s Moral Money newsletter to answer your questions about what “responsible” business and finance really looks like in the 21st century.  That means topics like sustainability, ESG, diversity and inclusion and clean energy investment. These have become hot-button issues that have recently faced a huge backlash. Tell us, what are the questions you have? To get in touch, record a voice message here: sayhi.chat/0humz  We might read out, or play the question from your voicemail with your name, on the show.- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Infrastructure: from investment backwater to a $1tn asset classHow the $12.5bn BlackRock-GIP deal is set to shake up investment managementHow Adebayo Ogunlesi’s contrarian bet led to $12.5bn BlackRock tie-up - - - - - - - - - - - - - - - - - - - - - - - - - - On X, follow Antoine Gara (@AntoineGara), Brooke Masters (@brookeamasters) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 3 July 2024

Exxon Mobil struck black gold in 2015 when it discovered a massive oil reserve off the coast of Guyana in South America. It’s poised to make Guyana the fourth-largest offshore oil developer in the world, and it's already jump-started a transformation within the developing economy. But will this oil bonanza benefit Guyana’s people? The FT’s US energy editor Jamie Smyth travels to Guyana’s capital to understand Exxon’s impact first-hand.  Clip from NBC News- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:The giant Exxon project that could create the world’s last petrostateOil-rich Guyana tries to tap another source of cash: carbon creditsExxon’s exit marks reversal of fortune for Equatorial Guinea- - - - - - - - - - - - - - - - - - - - - - - - - - On X, follow Jamie Smyth (@JamieSmythF) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 26 June 2024

Banks in the US are locked in a bitter fight with regulators. It’s all about a proposed set of rules with an unusual name, Basel III Endgame. Regulators say the rules will help avoid future banking crises. Banks say they’re overkill and could hurt everyday Americans. The FT’s US banking editor Joshua Franklin explains how the industry is pushing back. Clips from Bloomberg, CNBC- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:The US pushback against ‘Basel Endgame’The bank argument on the Basel III endgame is bunkEU to delay Basel bank trading reforms as US revisits plans- - - - - - - - - - - - - - - - - - - - - - - - - - On X, follow Joshua Franklin (@FTJFranklin) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 19 June 2024

In November, online fast-fashion giant Shein filed paperwork to go public in the US. Since then the process has not moved forward at all — and it looks like Shein’s ties to Beijing could be to blame. The FT’s China tech correspondent Eleanor Olcott explains how Shein has tried to distance itself from China to appease US regulators, and where it might go public instead.  Clips from Reuters, Bloomberg, Yahoo Finance- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Shein switches focus to London after New York IPO stallsShein’s London IPO flirtationShein profits double to over $2bn ahead of planned listingFund managers give cool reception to prospect of Shein London IPO- - - - - - - - - - - - - - - - - - - - - - - - - - On X, follow Eleanor Olcott (@EleanorOlcott) and Saffeya Ahmed (@saffeya_ahmed). Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 12 June 2024

The 2024 NBA Playoffs are in full swing, but eyes are still on a team that was knocked out last week. The Minnesota Timberwolves are caught up in an ownership dispute that’s gone south pretty fast, after two prospective buyers attempted to finance their purchase of the team in an unconventional way. The FT’s US sports business correspondent Sara Germano breaks down how the deal came together, fell apart, and the can of worms it’s since opened about owning US sports teams.  Clips from Bleacher Report, FOX 9 Minneapolis-St. Paul, KARE 11, House of Highlights, The Dane Moore NBA Podcast- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:The off-the-court fight for one of the NBA’s hottest teamsPrivate equity gears up for potential National Football League investmentsMichael Jordan agrees to sell majority stake in NBA’s Charlotte HornetsMark Cuban’s Mavericks bet- - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Sara Germano (@germanotes) and Saffeya Ahmed (@saffeya_ahmed). Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 5 June 2024

This week, we’re revisiting an episode from last November, about a Wall Street saga that lost shareholders more than $10bn. In 2007, when Dan Och took his hedge fund public, he was making a bet that his company would stand the test of time. More than 15 years, a bribery scandal, and a feud with his protégé later, the FT’s Ortenca Aliaj and Sujeet Indap explain how things did not work out as planned. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Sculptor Capital: grey areas cause grey hairs in messy bidding warFight over Sculptor hedge fund sale entwined in Daniel Och’s tax affairsSale of Sculptor Capital on cusp of approval after hedge fund brawl- - - - - - - - - - - - - - - - - - - - - - - - - - On X, follow Ortenca Aliaj (@OrtencaAl), Sujeet Indap (@sindap) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Transcribed - Published: 29 May 2024