An audio version of the best of the Financial Times's Big Reads — in-depth reporting from FT correspondents around the world. Listen to longform stories that explore and explain key themes in world news, science and business. Produced by Anna Dedhar.
As Russia’s relations with the west deteriorate Moscow is seeking fresh alliances across Africa say Henry Foy, Nastassia Astrasheuskaya and David Pilling. With Moscow often sidestepping demands for reform or protection of human rights, this is starting to raise concern in western capitals. See acast.com/privacy for privacy and opt-out information.
Wells Fargo has lurched from one scandal to another but customers have stayed loyal, say Robert Armstrong and Laura Noonan. Can the bank once seen as the best managed in America recover its premium valuation? Produced by Caroline Grady See acast.com/privacy for privacy and opt-out information.
Data brokers face heightened scrutiny in Europe as public opinion shifts on questions of privacy and businesses face tougher data protection legislation, say Aliya Ram and Madhumita Murgia. Will recent operational changes at data brokers be enough to convince regulators? Produced by Caroline Grady See acast.com/privacy for privacy and opt-out information.
The Financial Times has chosen George Soros as its Person of the Year and here editor Lionel Barber and deputy editor Roula Khalaf explain why the billionaire philanthropist and liberal standard bearer merits the title, particularly in 2018. Presented by Robert Shrimsley and produced by Anna Dedhar See acast.com/privacy for privacy and opt-out information.
The November sentencing of British academic Matthew Hedges to life in prison for spying caused a rare public spat between the UK and UAE and although he was subsequently pardoned it has led UK and US institutions to reassess their links to oil-rich Gulf states, say Andrew England and Simeon Kerr. Does foreign funding influence research on the region and damage the reputation of institutions or enhance academic ties? See acast.com/privacy for privacy and opt-out information.
Nintendo, Sony’s Playstation, and Microsoft’s Xbox dominate the cut-throat computer game business. But, says Leo Lewis, these console makers look under threat in the era of streaming. Will the cloud win, or can consoles, with higher quality, more complex games, keep their place? Produced by Harry Robertson See acast.com/privacy for privacy and opt-out information.
In October, Angela Merkel announced she would be stepping down as leader of the Christian Democratic Union, the party she has headed for nearly two decades. The race to succeed her is now well underway, says Guy Chazan. Three candidates have emerged in a battle that will decide whether the party stays its course or turns to the right. Produced by Anna Dedhar and Harry Robertson See acast.com/privacy for privacy and opt-out information.
The Reserve Bank of India is embroiled in an intense political battle with Prime Minister Narendra Modi, say Simon Mundy and Henny Sender. The government has long pressured the RBI to do more to boost growth, but a possible economic slowdown has seen Mr Modi ramp up his attacks. Can the RBI’s legally fragile independence hold? Produced by Harry Robertson See acast.com/privacy for privacy and opt-out information.
After Russia annexed Crimea in 2014, the west imposed sanctions to isolate the country economically. But, says Henry Foy, the reality has not matched the rhetoric. Moscow has pivoted towards China and Saudi Arabia and its energy ties with the EU remain strong. Produced by Harry Robertson See acast.com/privacy for privacy and opt-out information.
Western governments have a new nightmare coming from China, which has decreed that new private sector technologies, such as robotics and AI, must be shared with the military, say Kathrin Hille and Richard Waters. Washington fears Beijing is gaining an advantage in a new arms race. Produced by Harry Robertson See acast.com/privacy for privacy and opt-out information.
Since Britain voted to leave the EU, the Irish “backstop” has become the primary obstacle in the way of a Brexit deal, say Alex Barker and Arthur Beesley. The plan is the result of intense diplomacy by Dublin, but Theresa May faces implacable opposition to it from Brexiters and Arlene Foster’s DUP. Just how did the issue become so important? Produced by Harry Robertson See acast.com/privacy for privacy and opt-out information.
Under the stewardship of its young crown prince Mohammed bin Salman, Saudi Arabia has sought to turn around its oil-dependent economy, say Andrew England and Simeon Kerr. Yet the killing of journalist Jamal Khashoggi has made the task of reshaping the kingdom’s economy by attracting overseas money much harder. Produced by Harry Robertson See acast.com/privacy for privacy and opt-out information.
Next month’s US midterm elections will be some of the most important in a generation, says Demetri Sevastopulo. Should the Democratic party regain a majority in the House of Representatives, they could make life very difficult for President Donald Trump. But conservatives are also fired up for the fight See acast.com/privacy for privacy and opt-out information.
The nightmare of robots controlling the human race will not come true, says Richard Waters. The future of AI will see semi-autonomous systems rely on close cooperation with people, uniting machine learning and human judgement. But there are dangers in robots leading humans astray See acast.com/privacy for privacy and opt-out information.
Since Howard Wilkinson, Danske Bank’s then head of markets in Estonia, blew the whistle on money laundering in 2013, the enormous scale of wrongdoing has emerged, report Richard Milne and Caroline Binham. It has cost chief executive Thomas Borgen his job, and raised grave questions about the bank’s relationships with Russian entities and its regulators See acast.com/privacy for privacy and opt-out information.
Emerging economic powerhouses like China, India, and Turkey are jockeying for opportunities and influence in sub-Saharan Africa. While many of the continent's leaders see this as a great opportunity to boost growth, others warn of the dangers of increasing foreign domination See acast.com/privacy for privacy and opt-out information.
The Italian football club will pay some €340m over four seasons for Cristiano Ronaldo, gambling that he will lure fans and deals with sponsors and kitmakers, says Murad Ahmed. But it is a risky strategy. Can it pay off? See acast.com/privacy for privacy and opt-out information.
Purdue Pharma faces more than 1,000 lawsuits claiming it ignited and fuelled the US opioid crisis, reports David Crow. Prosecutors say the company exaggerated the benefits of its painkiller OxyContin, but through their ownership of Rhodes Pharma, Purdue’s owners also have a far bigger market share than was realised. See acast.com/privacy for privacy and opt-out information.
On August 14, the Morandi bridge in Genoa collapsed, killing at least 43 people. Since then, many Italian politicians have blamed the tragic event on a lack of maintenance, says Hannah Roberts, and linked it to crony capitalism and policies of privatisation. This argument over privatisation is emblematic of a divided Italy See acast.com/privacy for privacy and opt-out information.
PwC’s mechanical interpretation of the rules failed to produce results representative of Bank of Ireland’s dangerous position leading up to the financial crisis. This, say Jonathan Ford and Madison Marriage, raises questions about auditing judgment, and who the ‘Big Four’ firms really serve. As part of our ‘Auditing in Crisis’ series, they report on the history and future of “true and fair” accounting See acast.com/privacy for privacy and opt-out information.
Electric cars are the future, and so are the batteries that power them. Yet, these batteries are dependent on cobalt, which has linked the electric vehicle industry to one of the most unstable countries in the world, and to practices like child labour. This, along with the metal’s high cost, has started a race to replace cobalt. See acast.com/privacy for privacy and opt-out information.
YouTube video bloggers broadcast their lives on the Google-owned platform in the hope of attracting followers, fame, and money, say Hannah Kuchler and Emma Jacobs. They are overwhelmingly young and can build multimillion dollar businesses, but stars are few and even for them, popularity can bring huge stresses and pressures See acast.com/privacy for privacy and opt-out information.
Three years ago Volkswagen was caught cheating with emission tests, but they were not the only carmaker manipulating the data. Brussels is introducing a more robust regime but the manufacturers are already finding ways of undermining it, says Patrick McGee See acast.com/privacy for privacy and opt-out information.
The country saw a huge surge in investment after the global financial crisis but this has brought huge domestic debt and slower growth. Tom O'Sullivan, the FT's deputy analysis editor, asks Shanghai bureau chief Gabriel Wildau and global China editor James Kynge what impact this is having on daily life. Produced by Anna Dedhar. Image by Dreamstime See acast.com/privacy for privacy and opt-out information.
Digital distraction lurks everywhere. Google and Apple have taken steps to address smartphone addiction, but critics say the big tech groups have not regulated enough to cure hardcore addicts, say Tim Bradshaw and Hannah Kuchler. What's the solution to Silicon Valley's struggle between responsibility and revenue? Produced by Molly Mintz See acast.com/privacy for privacy and opt-out information.
India has a quickly growing gross domestic product and emerging middle class that is reaping rewards on foreign companies. Netflix entered India in a blaze of promotion and with a bag full of cash. The streaming service thinks the country is an untapped market, says Kiran Stacey. Will Netflix’s strategy succeed in scoring 100 million subscribers in India? Or will they fail to understand the country’s consumers? Produced by Molly Mintz See acast.com/privacy for privacy and opt-out information.
Donald Trump’s relationship with Vladimir Putin has prompted scrutiny and caused controversy, as have US sanctions against Moscow and a Forbes list of Russian oligarchs republished by the US Treasury. However, the US president’s policies on Russia may become clearer when he meets the Russian leader and attends the Nato summit, says Courtney Weaver. Will Putin play his cards right, or will Trump outplay the strongman? Produced by Molly Mintz See acast.com/privacy for privacy and opt-out information.
Beijing's ‘Made in China 2025’ industrial initiative has made government officials in America worried. The underlying motivation of the Trump administration’s protectionist mood and trade war with China is American anxiety about China’s rapidly growing technological prowess, says Shawn Donnan. Is investment the newest warfare tactic? And if so, how can it be stopped? Produced by Molly Mintz See acast.com/privacy for privacy and opt-out information.
Theresa May’s moment of truth is coming. In the two years since the Brexit vote, the British cabinet is still negotiating with itself and the EU. With the impending release of a white paper and an important cabinet summit at Chequers, the prime minister is edging towards an agreement that looks like a single market for goods but not services, says FT Political editor George Parker. Is this political madness, or is the UK’s economic future close to being resolved? FT podcasts feedback: Please tell us what you like and don’t like about our shows at ft.com/podcastfeedback and enter our prize draw See acast.com/privacy for privacy and opt-out information.
Recep Tayyip Erdogan appears simultaneously powerful and vulnerable ahead of the upcoming June 24 snap elections. The long-time leader of Turkey has used a mixture of both hope and fear to energise voters at a time of great economic uncertainty and amid an ongoing state of emergency, but opinion polls don't guarantee an outright victory in the first round of the presidential contest or a majority in parliament for the Turkish president, says Laura Pitel. FT podcasts feedback: Please tell us what you like and don’t like about our shows at ft.com/podcastfeedback and enter our prize draw See acast.com/privacy for privacy and opt-out information.
The former mayor of Mexico is set to win the country's presidential election on July 1. The politician is pledging to eradicate corruption. But while his supporters think he is a man of integrity and honour, his critics fear he is a danger to the country, says Jude Webber. FT podcasts feedback: Please tell us what you like and don’t like about our shows at ft.com/podcastfeedback and enter our prize draw See acast.com/privacy for privacy and opt-out information.
The mines have closed, the jobs have gone and Mansfield in Britain’s East Midlands has turned Conservative. But to have a chance of power Labour’s leader needs the backing of the party’s traditional supporters, says Joshua Chaffin See acast.com/privacy for privacy and opt-out information.
Fifa will decide in June who will host the 2026 football tournament, with a US-led bid the favourite to win. But resentment against Donald Trump is helping Morocco gain support, says Murad Ahmed See acast.com/privacy for privacy and opt-out information.
Antarctica contains vast untapped natural resources. But it is governed only by a treaty system that faces growing geopolitical challenges, say Leslie Hook and Benedict Mander. Many interested parties would like to exploit its riches. How can the continent be protected? See acast.com/privacy for privacy and opt-out information.
Almost a year after four Arab states imposed a blockade on Qatar, the Gulf nation is spending hundreds of billions on infrastructure to boost its economy. From Doha, the FT’s Simeon Kerr reports on Qatar’s economic struggles and whether the US is making matters better or worse for its strategic partner. Produced by Joshua Oliver See acast.com/privacy for privacy and opt-out information.
Prime Minister Narendra Modi has a plan to extend national health insurance to roughly half a billion of his country's poorest citizens. But critics say the plan will overwhelm the healthcare system and drive costs out of control. The FT's Amy Kazmin report. Produced by Joshua Oliver See acast.com/privacy for privacy and opt-out information.
In the race to develop artificial intelligence technology, American engineers have long had an edge but access to vast amounts of data may prove to be China's secret weapon. Louise Lucas and Richard Waters report on the contest for supremacy in one of this century’s most important technologies. See acast.com/privacy for privacy and opt-out information.
Cyril Ramaphosa, South Africa's new president, faces a slew of challenges from corruption to education and the economy. The FT's David Pilling and Alec Russell are joined by Mmusi Maimane, leader of South Africa's leading opposition party, to discuss the country's future. Produced by Joshua Oliver. See acast.com/privacy for privacy and opt-out information.
Thousands of Venezuelans are fleeing disease, violence and economic collapse — creating the worst refugee crisis in recent Latin American history. The FT's Gideon Long and Andres Schipani report from Colombia and Brazil, where communities and humanitarian groups are struggling to cope. Produced by Joshua Oliver See acast.com/privacy for privacy and opt-out information.
Superstar partners are drawing salaries akin to those of top bankers and sports stars, as upstart firms challenge the traditional seniority-based compensation system. James Fontanella-Khan, Sujeet Indap, and Barney Thompson report. Produced by Joshua Oliver. See acast.com/privacy for privacy and opt-out information.
South-east Asia is one of Facebook's fastest growing markets, but the social media company is under fire over the spread of false news and incitements to violence in the region. The FT's John Reed and Hannah Kuchler report. See acast.com/privacy for privacy and opt-out information.
A major centre for the oil industry, the west-African city is on track to become the world's third largest metropolis within decades. The FT's David Pilling reports on what the rest of Nigeria might learn from Lagos' economic success. Produced by Joshua Oliver. See acast.com/privacy for privacy and opt-out information.