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Was it a huge fit of pique or a genuine desire to protect the Elgin Marbles that prompted Rishi Sunak to cancel his date with the Greek prime minister? Lucy Fisher unpicks the row with the help of the FT's Robert Shrimsley and Stephen Bush. They also consider, in the wake of record legal net migration figures, whether immigration is tearing the Tories apart. The FT's Delphine Strauss weighs in to explain the particular plight faced by some migrant workers in the care sector. Plus, the group reflects on the legacy of Alistair Darling. Follow Lucy on X, formerly Twitter : @LOS_FisherFree links:Long hours and large debts: care workers stranded by UK's migration policySketchy politics: Sunak sets out his stall for the electionSign up here for 30 free days of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 Best Newsletter award. Read a transcript of this episode on FT.comPresented by Lucy Fisher. Produced by Philippa Goodrich. The executive producer is Manuela Saragosa. Audio mix and original music by Breen Turner. The FT's head of audio is Cheryl Brumley. Hosted on Acast. See acast.com/privacy for more information.
Cutting inflation and stopping small-boat migration are two of Prime Minister Rishi Sunak's five core priorities, but there's no let-up in inflation or unhappiness with the government's policy on asylum seekers. George Parker, the FT's political editor, discusses with economics correspondent Delphine Strauss and economics editor Chris Giles how far off target the government is. Plus, the UK's stretched public finances are braced for a hit of up to £10bn in compensation claims for those affected by a decades-long NHS contaminated blood scandal. How did it happen? George hears from global health editor Sarah Neville and Barry Flynn, one of the victims who has severe haemophilia A and was infected with hepatitis C.Want more?UK faces bill of up to £10bn to cover blood scandal compensationInflation and NHS waiting lists threaten Rishi Sunak's five-pledge strategyUK borrowing costs increase to their highest level in almost 15 yearsUK plans curbs on visas for overseas students' family membersSign up for 90 free days of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter' award: https://www.ft.com/newsletter-signup/inside-politics Presented by George Parker. Produced by Anna Dedhar. The executive producer is Manuela Saragosa. The sound engineer is Breen Turner and the FT's head of audio is Cheryl Brumley. Follow @GeorgeWParker on Twitter Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
The US will launch a renewed crackdown on countries that are helping the Kremlin evade western sanctions, the world's largest building materials group plans to move its listing from London to New York, and the FT's Delphine Strauss explains why higher wages could undermine central banks' battle against inflation. Mentioned in this podcast:US to launch new crackdown on Russian sanctions bustingBuildings giant CRH plans to move listing from London to New YorkGlobal economy: will higher wages prolong inflation?Download the FT Edit app here: ft.com/fteditThe 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 Hosted on Acast. See acast.com/privacy for more information.
Britain is seeing a swelling wave of industrial action this winter, from nurses to rail workers. Is the country facing a de facto general strike and is there an economic landing zone for the government and workers? We discuss what the different unions want. Plus, we examine Sir Keir Starmer's strategy for attacking Rishi Sunak - does it amount to class war, or just expose the prime minister's weaknesses? Presented by Sebastian Payne, with chief political correspondent Jim Pickard, economic correspondent Delphine Strauss, associate editor and columnist Stephen Bush and special guest political strategist John McTernan. Produced by Anna Dedhar and Howie Shannon. The sound engineers were Howie Shannon and Jan Sigsworth.-Read the latest on https://www.ft.com/world/uk-Follow @SebastianEPayne -Subscribe to https://www.ft.com/newslettersAudio: BBC / SkyRead a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
Workers in the public sector have seen their pay squeezed over the last decade, and with inflation on the rise, disputes over pay look set to dominate the headlines this autumn.Across the public sector, we're hearing stories of hiring issues, staff retention and squeezed budgets. These issues all affect the morale of the workforce and the delivery of public services.What will the government do? How much would inflation matching pay increases cost? What would a longer-term plan to deal with these issues look like?This week we speak to Ben Zaranko, IFS expert on public finances and Delphine Strauss, Economics Correspondent at the Financial Times.Support IFS: https://ifs.org.uk/individual-membershipPublic sector pensions episode: https://ifs.org.uk/articles/future-public-sector-pensions Hosted on Acast. See acast.com/privacy for more information.
Host Isabel Berwick talks to FT workplace experts Delphine Strauss, FT economics correspondent, and Emma Jacobs, FT features writer and Working It regular, about the cost of living crisis. Delphine explains why double-digit pay deals to match inflation are likely to be resisted by bosses - and how that is likely to lead to more industrial action in some sectors. The trio discuss the sorts of new support and perks that organisations are putting in place to help staff deal with rising costs, and question whether the great return to the office is going to be stalled by the high price of commuting. As winter approaches, many will face an unenviable trade off: freezing in our homes or paying large sums in rail fares or gas to travel to a warmer workplace. Want more?Cost of living crisis: employers step in to help - Dephine and Emma's long readhttps://www.ft.com/content/e6bd22e1-088f-492d-802a-1a7aecdc7fe7Have we had enough of the ‘nanny' employer? https://www.ft.com/content/0506901f-d2a9-45bb-8a79-5ceb202e1675Who really deserves a pay rise in the cost of living crisis? https://www.ft.com/content/38378af9-6f55-4bde-8c04-d13ee35cac07‘I earn £10.71 an hour. Here's what the cost of living crisis has been like'https://www.ft.com/content/af633a2e-3e46-4eaa-9173-167b87dc8c3eFT subscriber? Sign up for the weekly Working It newsletter. We cover all things workplace and management — plus exclusive reporting on trends, tips and what's coming next. One-click sign-up at www.ft.com/newslettersWe love to hear from you. What do you like (or not)? What topics should we tackle? Email the team at workingit@ft.com or Isabel directly at isabel.berwick@ft.com. Follow @isabelberwick on Twitter Subscribe to Working It wherever you get your podcasts — and do leave us a review!Presented by Isabel Berwick. Editorial direction from Renée Kaplan and Manuela Saragosa. Sound design is by Breen Turner, with original music from Metaphor Music. Produced by Novel.Read a transcript of this episode on FT.com See acast.com/privacy for privacy and opt-out information.
The Conservatives lost two crucial by-elections this week in Yorkshire and Devon, putting UK prime minister Boris Johnson's leadership under scrutiny. Host Sebastian Payne, the FT's Whitehall editor, discusses these results — and the resignation of Tory party chair Oliver Dowden — with political editor George Parker and UK chief political commentator Robert Shrimsley. Sebastian is also joined by economics correspondent Delphine Strauss and transport correspondent Philip Georgiadis to talk about the UK rail strikes and what deals ministers might make on public sector pay. Want more?For the latest from the FT on UK politics: https://www.ft.com/world/uk/politicsFollow @SebastianEPayne @GeorgeWParker and @RobertShrimsleyClips: BBC / Sky News Presented by Sebastian Payne. Produced by Anna Dedhar and Philippa Goodrich. The sound engineers are Breen Turner and Jan Sigsworth. See acast.com/privacy for privacy and opt-out information.
We start with that huge bailout package for struggling families announced by the chancellor and the controversial taxes he raised to fund it - a £5bn windfall tax on energy companies with more to come.The FT's economics correspondent Delphine Strauss and special guest Torsten Bell, director of the Resolution Foundation think-tank, discuss.Next and Sue Gray's long-awaited report into the Covid parties scandal in Downing Street landed on Wednesday and the prime minister is still there. We'll be sifting through the debris to assess the damage sustained by the PM after months of scrutiny of his conduct and probity. Jim Pickard and Jasmine Cameron-Chileshe consider whether Boris Johnson really is in the clear or whether this is the start of a long farewell.Presented this week by George Parker.Produced by Howie Shannon. The sound engineers were Joshua Gabert-Doyon and Jan Sigsworth. -Read the latest on https://www.ft.com/world/uk -Subscribe to https://www.ft.com/newslettersAudio: BBC See acast.com/privacy for privacy and opt-out information.
The UK is in its deepest recession on record, official data showed this week. Not only does Britain have the worst coronavirus death toll in Europe, but the economy has been harder hit than any other G7 country. Is it Boris Johnson’s fault? Plus, we discuss the exams debacle and the anger at how grades have been awarded to students who couldn’t sit their exams because of Covid-19. Presented by George Parker, with Delphine Strauss, Alice Hancock, Mure Dickie and Bethan Staton. Produced by Anna Dedhar. The sound engineer is Breen Turner and the editor is Liam Nolan. Theme music by Metaphor Music. Review clips: BBC, Scottish Government. See acast.com/privacy for privacy and opt-out information.
Google’s internet search business stabilised in April after a sharp downturn at the end of last month, Fitch has downgraded Italy’s credit rating to a single notch above junk, and US President Donald Trump orders meat-processing plants to remain open in the wake of coronavirus-related closures. Plus, the FT’s economics correspondent, Delphine Strauss, explains why statisticians are having such a hard time measuring inflation during the global pandemic. See acast.com/privacy for privacy and opt-out information.
UK chancellor Sajid Javid has been in Davos with the world's rich and powerful this week, talking up the UK economy post-Brexit. Is there good news on the economy, and is there more to him than a very junior partner to Prime Minister Boris Johnson? Brexit Day is next Friday, but that doesn't mean it'll all be over. We discuss what happens next - expect a roller-coaster year. Presented by Miranda Green, with Robert Shrimsley, David Bond, Delphine Strauss and Laura Hughes. Produced by Anna Dedhar and Jack Denton See acast.com/privacy for privacy and opt-out information.
By winning last week's constitutional referendum, albeit narrowly, Turkey's president Recep Tayyip Erdogan has achieved his long-held ambition of taming the country's institutions. Daniel Dombey discusses how he is likely to use his new powers with Delphine Strauss and Mehul Srivastava. See acast.com/privacy for privacy and opt-out information.
With a lower oil price likely to reinforce the divergence of US and EU monetary policy, Delphine Strauss, currencies correspondent, asks Marc Chandler, strategist at Brown Brothers Harriman, what the risks are to the overwhelming consensus that the dollar will continue to rally. Also, will Japan's elections trigger another fall in the yen - and at what point will investors start to worry about the political risks for UK assets? See acast.com/privacy for privacy and opt-out information.
With the dollar at a 7 year high against the yen, Delphine Strauss, currencies correspondent, asks David Bloom, currency strategist at HSBC, what it will take to reignite its rally against other major currencies. Also, does the Save our Swiss Gold Initiative threaten the SNB's cap on the Swiss franc, and should investors worry about the consensus prevailing in forex markets? See acast.com/privacy for privacy and opt-out information.
As an effective free float of the rouble drives the currency to all-time lows, Delphine Strauss, currencies correspondent, is joined by Tom Levinson, strategist at Sberbank CIB, to discuss the change in policy. Will Russia's central bank step in to defend the rouble; does it have further to fall before it finds a new level; and what are the implications for currencies of central and eastern European neighbours? See acast.com/privacy for privacy and opt-out information.
After a hawkish policy statement from the US Federal Reserve, Delphine Strauss, currencies correspondent, asks Michael Sneyd, currency strategist at BNP Paribas, whether this will revive the dollar rally. Also, what to expect from ECB policy makers next week - and what does the kiwi's fall tell us about the outlook for other growth-sensitive currencies? See acast.com/privacy for privacy and opt-out information.
As investors nurse losses from last week's flash crash in US bond yields, Delphine Strauss, currencies correspondent, asks Valentin Marinov, strategist at Citigroup, what it would take to restore their confidence in the dollar, whether the Bank of England will still worry about a strong pound, and what the ECB's bank stress tests will mean for the euro. See acast.com/privacy for privacy and opt-out information.
After the greenback's biggest one-day fall in more than a year, Delphine Strauss, currencies correspondent, asks Matthew Cobon, fund manager at Threadneedle Investments, whether this is the end of the dollar rally; whether volatility will persist; and which fear is the dominant one for investors. See acast.com/privacy for privacy and opt-out information.
With Fed officials underlining concerns over the exchange rate, Delphine Strauss, currencies correspondent, asks Derek Halpenny, strategist at Bank of Tokyo Mitsubishi, whether the dollar’s three month surge can continue; how the yen is affected by changing investment patterns in Japan and why politics is pressuring the pound. See acast.com/privacy for privacy and opt-out information.
With the single currency already below the levels many had forecast for the end of the year, Delphine Strauss, currencies correspondent, asks Peter Kinsella, strategist at Commerzbank, whether the ECB will try to engineer a bigger depreciation. Also, will the dollar rally maintain its momentum, and can New Zealand's central bank continue to talk down the kiwi. See acast.com/privacy for privacy and opt-out information.
As the prospect of higher US interest rates puts emerging markets under renewed pressure, Delphine Strauss, currencies correspondent, asks Koon Chow, emerging markets strategist at Barclays, whether we will see a repeat of last year's 'taper tantrum'. Also, what is the scope for volatility as carry trades unwind, and what are the risks of China resorting to exchange rate intervention to boost flagging growth. See acast.com/privacy for privacy and opt-out information.
With the vote to remain in the union prompting only the briefest rally in the pound, Delphine Strauss, currencies correspondent, asks Alan Wilde, head of fixed income and currency at Baring Asset Management, what the longer term implications of the vote will be for investors. See acast.com/privacy for privacy and opt-out information.
After the dollar hit a six year high against the yen this week and gained against emerging markets, Delphine Strauss, currencies correspondent, asks Simon Derrick, foreign currency strategist at Bank of New York Mellon, whether the US currency’s rally is part of a long-running trend based on interest rate divergence or the result of a retreat from political risk. They also discussthe reasons for the renminbi’s rise and Swiss policymakers’ options to keep the franc in check. See acast.com/privacy for privacy and opt-out information.
As the ECB's rate cuts send the euro to a 14 month low, Delphine Strauss, currencies correspondent, asks Paul Lambert, fund manager at Insight Investment, how this changes the equation for the single currency. Also, are we about to see a new bout of volatility in the foreign exchange market - and what will the Scottish referendum mean for the pound? See acast.com/privacy for privacy and opt-out information.
With the dollar's rally putting emerging markets currencies under pressure, Delphine Strauss, currencies correspondent, asks Ilan Solot, strategist at Brown Brothers Harriman, whether emerging markets are now better placed to withstand a rise in global rates - and what political developments in Brazil and Turkey will mean for two of last year's 'fragile five' currencies. See acast.com/privacy for privacy and opt-out information.
With the forex market showing only a modest reaction to tougher sanctions against Russia, Delphine Strauss, currencies correspondent, asks Elsa Lignos, strategist at RBC Capital Markets, whether currency investors have become less sensitive to geopolitical risk. Also, can we expect any sustained strength in the dollar after this week's rally; and should Canada's central bank try to talk down its currency? See acast.com/privacy for privacy and opt-out information.
As a rate cut by Sweden's central bank sends the krone to a 3 1/2 year low, Delphine Strauss, currencies correspondent, asks Chis Turner, strategist at ING, whether ECB easing has sparked a race to the bottom among the eurozone's neighbours. Also: how far will the ECB still be concerned about euro strength, and what to make of intervention to defend Kong Kong's currency peg? See acast.com/privacy for privacy and opt-out information.
With the violence in Iraq worsening, Delphine Strauss, currencies correspondent, asks Geoff Yu, currency strategist at UBS, how an oil supply shock would affect currency markets. Also, why dollar bulls face a difficult summer, and what to make of a stark change in policy from Norway's central bank. See acast.com/privacy for privacy and opt-out information.
With investors piling into higher-yielding currencies, James Kwok, head of currency management at Amundi Asset Management, tells Delphine Strauss, currencies correspondent, why the carry trade is the only game in town. Also, why the ECB will struggle to weaken the euro further - and the reasons for the New Zealand dollar's surge See acast.com/privacy for privacy and opt-out information.
As markets absorb the ECB's announcement of a negative deposit rate and credit easing, Delphine Strauss, currencies correspondent, asks Jeffrey Frankel, professor at Harvard University Kennedy School of Government, how far this takes the ECB in its fight against deflation - and whether it is becoming a covert actor in the so-called currency wars See acast.com/privacy for privacy and opt-out information.
With UK policy makers flagging concerns over the rising risks of a bubble in the housing market, Delphine Strauss, currencies correspondent, asks David Bloom, currency strategist at HSBC, how macroprudential measures would affect sterling. Also, what would be the knock-on effects of ECB easing for other currencies - and what does range-bound trading in the yen tell us about the state of the forex market? See acast.com/privacy for privacy and opt-out information.
With Mario Draghi's efforts to talk down the euro bearing fruit, Delphine Strauss, currencies correspondent, asks Jane Foley, strategist at Rabobank, whether investors are now expecting too much of the ECB. And with central banks around the world keen to see weaker exchange rates, are we on the verge of a new currency war? See acast.com/privacy for privacy and opt-out information.
With the euro close to 2 month highs against the dollar, Delphine Strauss, currencies correspondent, asks Steven Englander, strategist at Citigroup, what Mario Draghi will need to say to stop it rising further if the ECB keep policy unchanged today. Also, why the dollar is so soft - and how much longer can the carry trade in emerging market currencies continue? See acast.com/privacy for privacy and opt-out information.
With the greenback suffering from dismal first quarter growth data, Delphine Strauss, currencies correspondent, asks Peter Kinsella, strategist at Commerzbank, whether dollar bulls can expect any relief from Friday's US jobs data; how to explain the persistent slump in volatility; and whether M&A announcements should affect exchange rates. See acast.com/privacy for privacy and opt-out information.
With investors focused on geopolitical risk and evidence of a Chinese slowdown, Delphine Strauss, currencies correspondent, asks Bhanu Baweja, head of emerging market cross asset strategy at UBS, how to explain the relative stability in emerging markets currencies. Also, what are the knock-on effects of China curbing carry trade in the renminbi - and what is up with the Chilean peso? See acast.com/privacy for privacy and opt-out information.
With analysts predicting a modest improvement in the US labour market data due on Friday, Delphine Strauss, currencies correspondent, asks Paul Lambert, head of currency at Insight Investment, how the soft dollar is affecting foreign exchange markets; why the Ukraine crisis had little impact on major currencies; and how investors can navigate a world of low volatility. See acast.com/privacy for privacy and opt-out information.
With the greenback trading at a two-week low against the euro, Delphine Strauss, currencies correspondent, asks Matt Cobon, head of rates and currencies at Threadneedle Investments, why the consensus bet on dollar strength is not yet paying off. Also, how should currency markets interpret the Bank of England's latest set of economic forecasts - and what to make of the latest twist in the fortunes of the Aussie? See acast.com/privacy for privacy and opt-out information.
With the sell-off in EM currencies deepening, Delphine Strauss, currencies correspondent, asks Koon Chow of Barclays Capital, what is driving investors’ behaviour, how currency weakness will affect other assets - and which countries might welcome depreciation. See acast.com/privacy for privacy and opt-out information.
With sterling at a 2 1/2 year high against the dollar, Delphine Strauss, currencies correspondent, asks John Normand, currency strategist at JP Morgan, what to expect next from the Bank of England's forward guidance. Also, how can investors differentiate between commodity currencies, and is China's ever-appreciating renminbi set for a fall? See acast.com/privacy for privacy and opt-out information.
With hedge funds seizing on dismal jobs data, Delphine Strauss, currencies correspondent, asks Geoff Yu, currency strategist at UBS, whether the Aussie's slide is set to continue. Also, how will the theme of deflation play out in currency markets - and is Turkey now in real trouble? See acast.com/privacy for privacy and opt-out information.
With dollar bulls relishing the start of Federal Reserve tapering, Delphine Strauss, currencies correspondent, asks Michael Sneyd, foreign currency strategist at BNP Paribas, what could throw their predictions off course. Also: what will the year ahead bring for the euro, and is the Canadian dollar set on a downward trend? See acast.com/privacy for privacy and opt-out information.
Sterling has rallied on the Bank of England's announcement that it no longer sees a need to subsidise mortgage lending. Valentin Marinov, strategist at Citigroup, joins currencies correspondent Delphine Strauss to discuss whether this amounts to a tightening of monetary policy. Also, what should investors expect from next week's ECB meeting; and how will the Swedish krona perform as the central bank steps up its fight against deflation? See acast.com/privacy for privacy and opt-out information.
With investors alert to any hint of further action from the ECB, Delphine Strauss is joined by Steven Saywell, foreign currency strategist at BNP Paribas, to discuss the outlook for the euro, the effects of Japanese pension fund reform - and the implications of stalling growth in China's vast foreign exchange reserves See acast.com/privacy for privacy and opt-out information.
As Janet Yellen gives evidence to the Senate Banking Committee, Delphine Strauss is joined by Jane Foley, foreign currency strategist at Rabobank, to ask what investors are watching for from the nominee to chair the Fed. Also, is the good news on economic recovery already priced into the pound, and can Sweden's central bank act against deflation? See acast.com/privacy for privacy and opt-out information.
Jose Wynne, foreign currency strategist at Barclays, joins Delphine Strauss to discuss what would prompt a rally in the dollar, whether the euro's strength is sustainable, and the relative attractions of the Aussie and New Zealand dollar. See acast.com/privacy for privacy and opt-out information.
With the euro near a two year high against the dollar, Delphine Strauss asks Chris Turner, foreign currency strategist at ING, whether the European Central Bank is likely to take any action; how long the rally in emerging markets currencies might continue; and what is driving trade in the Scandinavian currencies. See acast.com/privacy for privacy and opt-out information.
Delphine Strauss is joined by Simon Derrick, foreign currency strategist at Bank of New York Mellon to ask whether the US shutdown will have a lasting effect on the dollar, whether the rally in the Aussie will continue and what we should read into Beijing's decision to allow the renminbi to reach a record high See acast.com/privacy for privacy and opt-out information.
The impasse in Washington has left forex investors unsure which way to turn, as they weigh the effects of the government shutdown against the prospects for a delay in tapering. FT currencies correspondent Delphine Strauss is joined by Ian Stannard, foreign currency strategist at Morgan Stanley to discuss how the market will handle the uncertainties, and how much longer we can expect strength in the euro and sterling to continue. See acast.com/privacy for privacy and opt-out information.
With the US government shutdown weighing on the dollar, FT currencies correspondent Delphine Strauss is joined by Derek Halpenny, European head of global market research at the Bank of Tokyo-Mitsubishi. Can forex markets remain this calm if the debt talks drag on into next week? How much higher can the euro go? And with the yen's weakness apparently set to continue, what changes in behaviour might we see from Japanese institutional and retail investors? See acast.com/privacy for privacy and opt-out information.
As investors absorb the Federal Reserve's surprise decision to keep its bond-buying programme steady, Marc Chandler, head of currency strategy at Brown Brothers Harriman, joins Delphine Strauss to discuss how the delay in tapering will play out in FX markets. And if investors now think the Bank of England will be the first to tighten, what's in store for sterling? See acast.com/privacy for privacy and opt-out information.
Turkey's prime minister Recep Tayyip Erdogan has just won his third election in a row, increasing his share of the vote and winning a strong mandate to launch a long-delayed overhaul of Turkey's constitution and tackle pressing issues of Middle East policy. Fiona Symon asked Delphine Strauss, FT correspondent in Ankara, what his early priorities would be. See acast.com/privacy for privacy and opt-out information.