More than half of low-income UK households with mortgages have fallen behind on one or more of their bills and Alibaba disappointed investors after announcing that it ditched plans to spin off its cloud business. Plus, the FT’s Stephen Foley talks about EY’s new leader Janet Truncale and how she might steer the accounting firm.
Mentioned in this podcast: Alibaba ditches plans to spin off cloud business and list supermarket EY picks Janet Truncale as the first woman to lead a Big Four firm Low-income borrowers hit hardest by Bank of England rate rises
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Manuela Saragosa, Josh Gabert-Doyon, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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.

EY’s new leader has her work cut out for her

A rundown of the most important global business stories you need to know for the coming day, from the newsroom of the Financial Times. Available every weekday morning. Hosted on Acast. See acast.com/privacy for more information.

News & Politics

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Nvidia’s market value briefly rose past $3tn to overtake Apple as the world’s second-most valuable company, South Africa’s African National Congress party is considering the formation of a national unity government with rival parties, and UK Prime Minister Rishi Sunak was accused on Wednesday by Sir Keir Starmer of “resorting to lies” over Labour’s tax plans. Plus, a US appeals court has tossed out new rules that would have forced private equity and hedge funds to be more transparent.
Mentioned in this podcast: Nvidia’s market value powers past $3tn in AI-fuelled rally Keir Starmer accuses Rishi Sunak of ‘lying’ over Labour £2,000 tax claim ANC considers national unity government in South Africa New SEC rules on private funds thrown out by US appeals court
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. 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.

The split road for South Africa

Gazprom is unlikely to recover gas sales lost as a result of Vladimir Putin’s full-scale invasion of Ukraine for at least a decade, India’s Prime Minister Narendra Modi is set to win a historic third term, job openings, vacancies and quits data provided more evidence of a cooling labour market in the US. Plus, Opec+ might be losing ground in its fight to prop up oil prices. 
Mentioned in this podcast: Gazprom badly hurt by Ukraine war, says company-commissioned report Narendra Modi set to lose parliamentary majority in shock Indian election result India election strips Narendra Modi of his ‘aura of invincibility’ Opec+ is running out of road US labour market cools in April, relieving pressure on the Fed 
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prarkiti Panwar. 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.

Opec+’s production conundrum

US President Joe Biden is moving to sharply tighten immigration rules at the southern border with Mexico, Indian markets hit record highs after exit polls forecast a landslide election win for Prime Minister Narendra Modi, food delivery apps put new focus on profits despite slower growth following the coronavirus pandemic, and a new podcast from the Financial Times explores the fallout since Qatargate. 
Mentioned in this podcast: Food delivery apps rack up $20bn in losses in fierce battle for diners Indian markets hit record highs as exit polls forecast Modi victory Sunak and Starmer set to clash in first UK election leaders’ debate Untold: Power for Sale. Subscribe or listen on: Apple Podcasts, Spotify, Pocket Casts or wherever you listen to podcasts.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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.

Investors to delivery apps: where’s my profit?

Russia and China are deadlocked over a deal to build a gas pipeline connecting the two countries, far-right parties in Europe are gaining ground with younger voters, technical trouble could hamper Tesla’s upcoming shareholder election, and disagreement at OpenAI over safety and leadership has led to top level resignations.
Mentioned in this podcast: Russia-China gas pipeline deal stalls over Beijing’s price demands Internal divisions linger at OpenAI after November’s attempted coup Tesla’s many international retail investors unable to cast AGM vote How the far right is winning over young Europeans
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Jess Smith, Denise Guerra, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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.

Russia-China pipeline deal stalls

Across the world, billions of citizens are being asked to cast their vote in elections taking place in more than 50 countries, making this a pivotal year for democracy. But these polls come as populist, illiberal and far-right parties are either growing in support or consolidating gains they have already made. In the first of this five-part series, the FT’s renowned economics commentator Martin Wolf tells executive opinion editor Jonathan Derbyshire why he worries about the consequences for the future of democratic institutions. Martin then speaks to Robert Kagan, a neoconservative scholar and a senior fellow at the Brookings Institution in Washington, about what a victory, or defeat, for Donald Trump might mean for the future of US democracy.
Links: Martin Wolf column: Fascism has changed, but it is not dead For Martin’s other FT columns click here Clip: CNBC
This episode is presented by Jonathan Derbyshire and Martin Wolf. The producer is Sandra Kanthal. Production help from Sonja Hutson. The executive producer is Manuela Saragosa and the sound engineer is Nigel Appleton. The FT's global head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

EY’s new leader has her work cut out for her

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