The story of how a tiny, unknown hedge fund took on a giant of corporate America over climate change - and won. Charlie Penner of Engine No 1 talks about the very public proxy campaign he launched against Exxon Mobil, forcing the oil major to prepare for a future free of fossil fuels. In the third episode of our special five-part series on sustainable or ESG investing, produced in partnership with the FT’s Moral Money team, Derek Brower, US energy editor, and Attracta Mooney, the FT’s investment correspondent, reflect on whether the battle between Engine No 1 and Exxon marks the beginning of a new kind of activist investor.Engine No 1, the giant-killing hedge fund, has big plansDWS probes spark fears of greenwashing claims across investment industryCheck out stories and up-to-the-minute news from the Moral Money team here. Get 30 days of the premium Moral Money newsletter free, together with complimentary access to FT.com for the same period, visit www.ft.com/insideesgReview clips: The Sun, Channel 4 News, Euronews, PBS Newshour, GMA, CNN, CNBC, ExxonMobil Hosted on Acast. See acast.com/privacy for more information.

Milton Friedman, the renowned American economist and spiritual mentor of many entrepreneurs, argued that the social responsibility of business was to increase profits. This has been the gospel since the early 1970s, but companies and investors are beginning to rethink the purpose of business. Has the sun really set on the Miltonian era?In the second episode of our special five-part series produced in partnership with the Moral Money team, Leila Abboud, the FT’s Paris correspondent, and Gillian Tett, the FT’s US editor-at-large, tell the story of Emmanuel Faber, the former CEO of Danone who embraced environmental, social and governance (ESG) causes - and then was ousted eight years later. Turns out there was more to the story than first meets the eye.The fall from favour of Danone’s purpose-driven chiefCheck out stories and up-to-the-minute news from the Moral Money team here. Get 30 days of the premium Moral Money newsletter free, together with complimentary access to FT.com for the same period, visit www.ft.com/insideesgReview clips: CNBC, Danone, British Pathé, IMAGINE, France 24 Hosted on Acast. See acast.com/privacy for more information.

When Tariq Fancy joined BlackRock as its first chief investment officer for sustainable investing in 2018, he was convinced that with companies around the world, including the world’s biggest asset manager, embracing environmental, social and governance (ESG) causes, the stage was set to reform capitalism. As a former Wall Street banker, he’d been hired by Blackrock after setting up his own digital learning non-profit group in Canada. But just two years after joining Blackrock, he left his job. So what went wrong?In the first episode of our special five-part series produced in partnership with the FT’s Moral Money team, Gillian Tett, the FT’s US editor-at-large, and Andrew Edgecliffe-Johnson, the FT’s US business editor, explore the idea that the trillions of dollars that have flowed into ESG investments represent a once-in-a generation shift in the business consensus. Can it be true that ESG investing can address some of the world’s most-pressing problems, including climate change and inequality?  Check out stories and up-to-the-minute news from the Moral Money team here. Get 30 days of the premium Moral Money newsletter free, together with complimentary access to FT.com for the same period, visit www.ft.com/insideesgReview clips: AP, KPIX CBS, CNBC, CNN, The Telegraph, PayPal Hosted on Acast. See acast.com/privacy for more information.

Introducing the FT Tech Tonic podcast. You can subscribe and listen to the rest of the series here.From picking the best stocks to listening in on earnings calls, AI-powered systems are changing finance. But how big are the rewards, really? And what are the risks? In this episode Robin Wigglesworth tells us how AI has been used in investing, what happens when programs must adapt to new risks and what the robots could learn from watching children play. Alice Fordham is senior producer. Josh Gabert Doyon is assistant producer. Oluwakemi Aladesuyi and Liam Nolan are the development producers. Sound design and mixing by Breen Turner. Cheryl Brumley is the executive producer for this series. Original scoring composed by Metaphor Music. Review clips: Alphabet, Netflix, Amazon, Man Group. Hosted on Acast. See acast.com/privacy for more information.

The City of London is home to some of the world’s biggest banks and busiest exchanges but the UK is just weeks away from leaving the EU single market and many questions about access to the bloc are still unresolved. Philip Stafford, editor of FT Trading Room, and Stephen Morris, the FT’s banking editor, take a look at the future of financial services after Brexit.Review clips: BBC News, CNBC, EU 27Read more on the FT’s coverage of Brexit here: Brexit trade talks: the three big sticking points explainedEurope’s finance sector hits ‘peak uncertainty’ over Brexit Hosted on Acast. See acast.com/privacy for more information.

The Boston-based biotech eschewed a traditional approach to vaccine development, instead pitching its use of mRNA technology to investors. That pitch paid off this year as the company stands to be one of the first to bring a Covid-19 vaccine to market. Hannah Kuchler, the FT’s US pharma and biotech correspondent, reports on Moderna’s race to find an immunisation for the novel coronavirus.  The FT is making key coronavirus coverage free to read for everyone. Go to ft.com/coronavirusfree to read the latest.Read more here: Moderna’s Covid vaccine offers vindication of its unconventional approachReview clips: Yahoo Finance, CNBC Hosted on Acast. See acast.com/privacy for more information.

As protests following the killing of George Floyd in the US reverberated around the world this summer, Belgium, like many other countries, experienced its own reckoning: with a brutal colonial past, with the systemic racism that inhibits its black citizens today and with the question of what exactly it owes to the Democratic Republic of Congo, which it exploited for 75 years. The FT's Neil Munshi reports on the company at the heart of Belgium's colonial pursuit, the Union Minière.Read Neil's FT Magazine story here: https://www.ft.com/content/a17b87ec-207d-4aa7-a839-8e17153bcf51.Special thanks to Heleen Debeuckelaere, Elli Fernandes, Mohamed Barrie and Jeroen Laporte. Review clips: Deutsche Welle, CBS News, France 24, NBC News, Reuters, Al Jazeera English, Getty Images, British Pathé. Hosted on Acast. See acast.com/privacy for more information.

The IPO of Jack Ma's Ant Group would have been the largest in history: it was expected to raise $37bn at a valuation of $316bn. But just days before the stock market listing, China called it off. The FT's Ryan McMorrow and Hudson Lockett report on what led to Beijing pulling the plug, and what it means for China's private sector. Further reading: 'The party is pushing back': why Beijing reined in Jack Ma and Ant.Review clips: Reuters, World Economic Forum, CNA, Bloomberg, Yahoo Finance. Hosted on Acast. See acast.com/privacy for more information.

Tensions between Washington and Beijing are beginning to resemble a new cold war. Could the complex supply chains built up over a generation that produce Apple's iPhone and other electronics soon be untangled? In this episode Kathrin Hille, the FT’s greater China correspondent, and Richard Waters, the FT’s west coast editor, tell the story of how technology supply chains in the US and China became intertwined and the forces that are pulling them apart. Review Clips: CNBC, CSPAN, Washington Post, The Guardian, Reuters, Dallas Morning News, ZDF “Looking for Freedom” WMG (1989) Read more from Kathrin HilleThe great uncoupling: one supply chain for China, one for everywhere else Hosted on Acast. See acast.com/privacy for more information.

There is no episode of Behind the Money this week. Here is a preview of what we are working on for next week. Review Clips: C-SPAN, CNBC, Dallas Morning News Hosted on Acast. See acast.com/privacy for more information.

The pandemic docked Carnival’s cruise ships and grounded Bombardier’s planes. But when the companies were in need of cash, one went to the bond market and the other to a direct lender. Robert Smith, FT capital market correspondent and Nikou Asgari, FT corporate finance reporter, tell the story of the billion dollar private debt deals shaping who has the capital to weather the crisis. Review Clips: CNBC, Reuters, ABC NewsRead more from Nikou, Rob and the rest of the corporate finance teamCovid-linked debt rush ignites direct lending marketAsset managers in $300bn drive to build private lending funds Hosted on Acast. See acast.com/privacy for more information.

The market volatility of the past few months has been a boon for the trading divisions of many Wall Street banks, including Morgan Stanley. Laura Noonan, the FT’s US banking editor, explains how success in trading, and a focus on wealth management has positioned Morgan Stanley to make gains during the pandemic - and whether this trend is likely to last. --Review clips: CNBC, PBS, Federal ReserveRead more on Laura’s Noonan reporting on Morgan Stanley - https://www.ft.com/content/22d7c870-870d-4423-bd6f-6e384961f997Find out what the latest polls say about U.S. voter sentiment towards the economy with FT Washington correspondent Lauren Fedor, Peter Spiegel, the FT’s US managing editor and Michael Peterson of the Peter G. Peterson Foundation. The event takes place Monday, October 26 at 12 pm ET. Register here - https://nerpreelectioneconomy.live.ft.com/?segmentId=8f3615ce-4cbc-7122-a54d-8ed636f79675 Hosted on Acast. See acast.com/privacy for more information.

Bernard Arnault built a €210bn luxury empire through an unflinching acquisition strategy that earned him the “wolf in cashmere” moniker. Tiffany, famous for its robin-egg blue boxes and diamond engagement rings, was meant to be the jewel atop his LVMH luxury group. The takeover would have been the largest-ever in the luxury sector, until the pandemic hit. The FT’s Leila Abboud, Arash Massoudi and James Fontanella-Khan unwind the saga of how the $16.6bn deal has hit rocky ground and how the pandemic and the forthcoming legal battle could change the terms of M&A engagement globally.Review clips: CNBC, PBS, Viva TechnologyRead more from Leila, Arash and James - https://www.ft.com/content/72af09b4-12a4-45ad-86ca-919d38e279e8Find the FT’s Due Diligence newsletter - https://www.ft.com/due-diligence Hosted on Acast. See acast.com/privacy for more information.

While reporting on the coronavirus crisis in northern Italy this year, Rome correspondent Miles Johnson discovered an equally concerning story in the country’s south. Italy’s most powerful organised crime group, the ‘Ndrangheta, had infiltrated local hospitals and packaged millions of plundered euros into global investment funds and portfolios. In the first episode of Behind the Money’s fourth season, Miles follows the money trail in a cautionary tale for the era of ultra-low interest rates. Read Miles’ full investigation here: https://www.ft.com/content/8850581c-176e-4c5c-8b38-debb26b35c14. Hosted on Acast. See acast.com/privacy for more information.

In September 2014, the FT’s Dan McCrum received a tip about a fast-growing German fintech group, Wirecard. Over the next couple of years Dan and his colleagues uncovered the secret behind the payment company’s meteoric growth: many of the customers listed in company documents did not exist. In this episode Dan tells the story of the whistleblowers, shoe-leather reporting, hacking, suspected surveillance and legal threats that led to Wirecard’s downfall.  ---Review clips: CNBC, Deutsche Welle Further reading:The double life of Wirecard’s Jan Marsalek https://www.ft.com/content/511ecf86-ab40-486c-8f76-b8ebda4cc669Inside Wirecardhttps://www.ft.com/wirecardDan’s 2015 story for Alphavillehttps://ftalphaville.ft.com/2015/04/27/2127427/the-house-of-wirecard/ Hosted on Acast. See acast.com/privacy for more information.

In the US, commercial mortgage backed securities are a $1.2tn market, and an integral part of how banks lend to commercial property owners. But as the pandemic and subsequent lockdowns changed almost every sector of the economy, commercial real estate has changed too. Hotels and retailers have been hit hard by the shutdown, and mortgage and rent payments they have deferred are coming due. The FT’s Joe Rennison explains what this means for the CMBS market. We also hear from two people who are helping lenders and landlords deal with the upheaval. Hosted on Acast. See acast.com/privacy for more information.

When a Minneapolis police officer killed George Floyd, it was as if a fire was ignited. His death, along with the killings of Breonna Taylor and Ahmaud Arbery have sparked the most widespread protests in the US since 1968. Hundreds of thousands of people have marched under banners such as “Black Lives Matter”, “No Justice, No Peace” and “Say Their Names”. Now, the voices of activists are converging around a call to “defund the police”. In this episode, we hear from Rachel Harmon, a professor of law at the University of Virginia, and Vesla M Weaver, a professor of political science and sociology at Johns Hopkins University, about the role the federal government, and federal funding, have played in transforming policing in the US.---To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/behindthemoneycovid or https://www.ft.com/newsletter-signup/coronavirus?segmentId=12f1abd6-6f16-e2df-e4ff-7aaa9346f98e. Hosted on Acast. See acast.com/privacy for more information.

An update on this week's episode Hosted on Acast. See acast.com/privacy for more information.

Last December executives at the Carlyle Group worked into the night to sign what they imagined would be one of the private equity firm’s most enduring deals. In 2020, however, there may be no such thing as a stable business. Carlyle is now trying to walk away from a deal with American Express Global Business Travel before any money has changed hands. Our US private capital correspondent, Mark Vandevelde, reports on the ensuing legal row, and what it could mean for dealmaking during the pandemic.  To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/behindthemoneycovid or https://www.ft.com/newsletter-signup/coronavirus?segmentId=12f1abd6-6f16-e2df-e4ff-7aaa9346f98e.A few stories for further reading:Inside Carlyle’s ‘long-term’ Amex bet that coronavirus cut short (paywall): https://www.ft.com/content/e710b3dc-3eba-4227-9258-6a678d66f6e1Apollo: how a private equity giant is navigating the crisis (paywall): https://www.ft.com/content/6fce9808-84ab-11ea-b555-37a289098206Coronavirus: private equity’s bailout moment (paywall): https://www.ft.com/content/f7cc82d7-70b9-40c3-b4a0-815ebc5d99d5   Hosted on Acast. See acast.com/privacy for more information.

This was supposed to be a record year for the US meat industry. But when coronavirus hit the meat-packing plants, it exposed a vulnerable link in the supply chain. We take a look at how our meat gets from the farm to the supermarket, and ask what the fall in production could mean for the US-China trade truce. With the FT’s Gregory Meyer. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/behindthemoneycovid.Further reading:Coronavirus: return to work divides US meat industry (paywall) https://www.ft.com/content/f6e2b4ad-4a62-4c6f-8348-38704e3e81f6Tyson Foods warns of sales declines and rising costs (paywall)https://www.ft.com/content/f0b4f894-cd46-44f2-b7b0-10707de449dbJohn Tyson laments breakdown of meat system his family pioneered (paywall)https://www.ft.com/content/82c2f5fa-1070-4388-853b-a2ed430fbf04Pandemic accelerates shift to meat substitutes (paywall)https://www.ft.com/content/0127984a-6def-4040-9bca-002b6ffd4e0a---On 12-14 May, the Financial Times, in partnership with TNW, will gather the most senior global decision makers and leading minds in policy, business, tech and finance for three days of online conversations with top FT journalists, analysing the impact of the pandemic across global economies, industries and markets, and outlining what is required to shape the optimal conditions for recovery at this most challenging of times. Register at globalboardroom.ft.com. Hosted on Acast. See acast.com/privacy for more information.

The Trump administration’s small business bailout programme has been plagued by problems from the start, with complaints that large companies crowded out the kinds of small enterprises and independent contractors it was designed to help. With a fresh round of funding on offer from Washington, we hear from several business owners trying to get their share, as well as the FT’s Laura Noonan who has been reporting on the programme since it launched. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/behindthemoneycovid.A few stories for further reading:US small business rescue fund strained by rush of claimshttps://www.ft.com/content/0467d0e1-6814-4cc4-ad4b-e25c80169466Can Congress save US small businesses? FT reporters answer your questionshttps://www.ft.com/content/55b0f191-5ea2-4762-bf8c-13d6a11e61ed‘Where is my loan?’ Small businesses miss out on US rescue fundshttps://www.ft.com/content/e6a06f94-5d2f-43a0-8aac-c7adddca0b0e----You might also be interested in a three-day digital conference hosted by the Financial Times. On 12-14 May, the FT, in partnership with TNW, will gather the most senior global decision makers and leading minds in policy, business, tech and finance for three days of online conversations with top FT journalists, analysing the impact of the pandemic across global economies, industries and markets, and outlining what is required to shape the optimal conditions for recovery at this most challenging of times. Register at globalboardroom.ft.com. Hosted on Acast. See acast.com/privacy for more information.

Mauren Pereira's drapery business was on track for its most financially successful year to date. That was until the coronavirus outbreak reached Virginia. Behind the Money reports on how one small business owner is navigating the current economic crisis. With Brendan Greeley, US economics editor for the Financial Times. We want to hear from you. Please go to ft.com/behindthemoneysurvey and fill out our survey for a chance to win a pair of Bose QuietComfort Noise Cancelling headphones. Hosted on Acast. See acast.com/privacy for more information.

When credit markets seized up earlier in March, more than 130 companies rushed to their lenders to draw down at least $124bn of emergency credit lines to shore up cash, with Ford and General Motors drawing the largest amounts. We look at how the auto industry is preparing for the economic uncertainty that lies ahead. With the FT's Peter Campbell and Gillian Tett.We want to hear from you. Please go to ft.com/behindthemoneysurvey and fill out our survey for a chance to win a pair of Bose QuietComfort Noise Cancelling headphones.  Hosted on Acast. See acast.com/privacy for more information.

Behind the Money wants to hear from you, our listeners, about how the coronavirus pandemic is impacting your business and your work life. Email us at behindthemoney [at] ft.com Hosted on Acast. See acast.com/privacy for more information.

A costly investigation into the conduct of senior UK bankers during the financial crisis has raised questions about what it means to prosecute allegations of corporate crime, and whether Britain’s fraud laws need overhauling. With the FT’s Caroline Binham and Jane Croft. We want to hear from you. Please go to ft.com/behindthemoneysurvey and fill out our survey for a chance to win a pair of Bose QuietComfort Noise Cancelling headphones. Read more from Jane and Caroline here:Barclays: the legal fight over a company’s ‘controlling mind’https://www.ft.com/content/f666b592-5a4b-11ea-abe5-8e03987b7b20 (paywall)Review clip: Sky News Hosted on Acast. See acast.com/privacy for more information.

More than 10 years on from the early days of the US shale boom, bankruptcy risks are rising across the sector. The FT's US energy editor, Derek Brower, reports on what weak oil prices and tightening access to credit are doing to the outlook for some producers. Further reading:Bankruptcy risks rise for US shale (paywall)https://www.ft.com/content/76c15898-52a2-11ea-90ad-25e377c0ee1fUS energy sector, shunned by investors, has ‘Pearl Harbor’ moment (paywall)https://www.ft.com/content/254bf634-5677-11ea-abe5-8e03987b7b20Chesapeake Energy raises doubt over its ability to survive (paywall)https://www.ft.com/content/46ffa4fc-ffe6-11e9-be59-e49b2a136b8dThe US shale revolution (paywall)https://www.ft.com/content/2ded7416-e930-11e4-a71a-00144feab7deThe clip of Aubrey McClendon is credited to the Switch Energy Alliance. Hosted on Acast. See acast.com/privacy for more information.

Nearly one year after the grounding of Boeing's 737 Max jet, more than 700 of these planes remain on the ground, with costs to the US manufacturing giant estimated to reach nearly $20bn. The FT's Claire Bushey reports on how the crisis unfolded, and what it will take for the aerospace company to return business as usual.Further reading:Boeing tightens its belt as Max crisis drains cash (paywall)https://www.ft.com/content/949eea64-3e44-11ea-a01a-bae547046735Boeing faces Max hurdle as pilot confidence crumbles (paywall)https://www.ft.com/content/2c0419cc-3983-11ea-a6d3-9a26f8c3cba4Aviation: Boeing parks its 737 aspirations (paywall)https://www.ft.com/content/ad45dd3e-2314-11ea-92da-f0c92e957a96Grounding a global fleet: Boeing faces its greatest challenge (paywall)https://www.ft.com/content/53b2142a-4711-11e9-b168-96a37d002cd3 Hosted on Acast. See acast.com/privacy for more information.

Earlier this year, Facebook announced its digital currency project, Libra, to great fanfare. Just a few months later, the project has stalled amid pressure from regulators and lawmakers around the world. With the FT's Hannah Murphy and Kiran Stacey.Further reading:Where it all went wrong for Facebook’s Libra: https://www.ft.com/content/6e29a1f0-ef1e-11e9-ad1e-4367d8281195Zuckerberg warns blocking Libra will be boon to China tech: https://www.ft.com/content/28c600de-f5a1-11e9-9ef3-eca8fc8f2d65Federal Reserve sets out regulatory challenges facing Facebook’s Libra: https://www.ft.com/content/ef650f9a-f052-11e9-ad1e-4367d8281195 Hosted on Acast. See acast.com/privacy for more information.

A key short term lending market came under strain in September, raising concerns that the Federal Reserve's attempt to unwind post-financial crisis intervention may have gone too far. The FT's Joe Rennison explains what has been going on in the repo market. Further reading:How the Federal Reserve could fix the repo market:https://www.ft.com/content/33674380-e4f4-11e9-9743-db5a370481bcFed wrestles with role of regulation in repo squeeze:https://www.ft.com/content/45a9c196-e231-11e9-9743-db5a370481bcNew York Fed rejects Wall St criticism of response to repo turmoil:https://www.ft.com/content/c267a2f4-dd3e-11e9-9743-db5a370481bc Hosted on Acast. See acast.com/privacy for more information.

WeWork was long considered one of the most anticipated IPOs of 2019. For SoftBank, WeWork’s biggest outside investor, the listing would be the moment it made a return on the nearly $11bn it poured into the shared-office provider. Now, as WeWork struggles to take the company public, the spotlight is on SoftBank’s Masa Son and his billion-dollar bets.Further FT reading:SoftBank investors brace for Vision Fund writedownshttps://www.ft.com/content/ccdaa9c6-d60d-11e9-8367-807ebd53ab77WeWork postpones IPO after chilly response from investorshttps://www.ft.com/content/b869bc42-d8d9-11e9-8f9b-77216ebe1f17WeWork: the ‘hypothetical’ company at the heart of the property markethttps://www.ft.com/content/0e426c90-8c45-11e9-a1c1-51bf8f989972SoftBank: inside the ‘Wild West’ $100bn fund shaking up the tech worldhttps://www.ft.com/content/71ad7cda-6ef4-11e8-92d3-6c13e5c92914Some of Aimee’s favourite FT reads:Warren Buffett: ‘I’m having more fun than any 88-year-old int he world’https://www.ft.com/content/40b9b356-661e-11e9-a79d-04f350474d62The trillion-dollar taboo: why it’s time to stop ignoring mental health at workhttps://www.ft.com/content/1e8293f4-a1db-11e9-974c-ad1c6ab5efd1Finding my Armenia, a century after the genocidehttps://www.ft.com/content/2e2f38b0-e7a1-11e8-8a85-04b8afea6ea3How Purdue’s ‘one-two’ punch fuelled the market for opioidshttps://www.ft.com/content/8e64ec9c-b133-11e8-8d14-6f049d06439cAngola 3 inmate: from solitary cell to centre of the communityhttps://www.ft.com/content/72a0983a-9f7d-11e7-8cd4-932067fbf946 Hosted on Acast. See acast.com/privacy for more information.

The purpose of the US corporation has evolved over time, from Henry Ford's mission to benefit the carmaker's employees to Milton Friedman's essay on shareholder primacy. The FT's US business editor, Andrew Edgecliffe-Johnson, reports on the latest thinking, this time from America's largest business lobby, the Business Roundtable. Read more on the idea of sustainable investing at ft.com/moralmoney Hosted on Acast. See acast.com/privacy for more information.

Investors poured $17bn into agricultural food and technology startups in 2018, fuelled by threats to the world's food supply, including climate change and a growing global population. We visit one such startup, Indigo Ag, which is working with farmers to trial its microbial products for healthier crops. Indigo Ag provides microbial seed treatments to farmers for free in exchange for data. The company also sells the seed treatments through its standard commercial model. With guests Emiko Terazono, FT commodities correspondent, Ben Riensche, owner and manager, Blue Diamond Farming Company and Geoffrey von Maltzahn, co-founder and chief innovation officer, Indigo Ag. Read more from Emiko on agricultural food and technology at FT.com:https://www.ft.com/content/ee6fb294-edc3-11e8-8180-9cf212677a57 (paywall) Hosted on Acast. See acast.com/privacy for more information.

Amid concerns about a slowdown in global economic growth, there is one industry telling a completely different story: luxury goods. Aimee goes to Paris to find out why. With guests Harriet Agnew, Paris correspondent for the Financial Times, and Robert Burke, chairman and chief executive of the consultancy Robert Burke Associates. Hosted on Acast. See acast.com/privacy for more information.

About 10 years ago, two legendary private equity firms, Apollo Global Management and TPG, teamed up to carry out a leveraged buyout of one of the biggest and most iconic gaming companies, then known as Harrah’s. They financed the purchase by taking advantage of Harrah’s real estate. Now, an obscure regional casino group out of Reno, Nevada is set to scoop up what has become the Caesars Entertainment empire in a deal that is making use of a pretty similar kind of financing. The FT’s Sujeet Indap tells the story. Hosted on Acast. See acast.com/privacy for more information.

When Fiat Chrysler Automobiles withdrew its proposal for a €33bn merger with France’s Renault it reversed plans to create what could have been the world's third-largest carmaker. The FT's David Keohane, Leo Lewis and Rachel Sanderson tell the story of how the bid came together, how it eventually fell apart and what it means for the future of global carmakers.  Hosted on Acast. See acast.com/privacy for more information.

Over the past 54 years, shares in Berkshire Hathaway have outpaced the broader market. But now the conglomerate is holding onto more than $100bn in cash that it would rather be investing. The FT's Eric Platt guides us through the Berkshire Hathaway operation, and how its 88-year old chairman and chief executive is thinking about the company's future. Read more at FT.com.  Hosted on Acast. See acast.com/privacy for more information.

What it means for a generation of tech companies with huge valuations to be making the shift to the public markets, and why some are doing it by unconventional means.  Hosted on Acast. See acast.com/privacy for more information.

How did Denmark’s Danske Bank find itself at the centre of one of the largest money-laundering scandals the world has ever seen? The FT’s Richard Milne explains. This episode was originally published on October 30, 2018. Read the latest on the Nordic money-laundering scandal at FT.com. Hosted on Acast. See acast.com/privacy for more information.

The arrest of Meng Wanzhou, Huawei's chief financial officer, followed months of mounting scrutiny of the world's biggest telecoms equipment maker. The FT's Nic Fildes explains how Huawei grew to be such a big player, and why western intelligence officials are warning against working with the Chinese company on the next generation of mobile technology. This episode was originally published on December 18, 2018. Hosted on Acast. See acast.com/privacy for more information.

Sprint and T-Mobile have a long on-again, off-again history. Together the companies serve a combined total of about 30 per cent of the US mobile market. Now, after a third attempt at merging, the companies are awaiting regulatory approval from the Trump administration. The decision could shape the telecoms industry and American consumer options for decades to come.  Hosted on Acast. See acast.com/privacy for more information.

Two mid-sized American banks are joining forces in a $66bn merger - BB&T and Suntrust. It is the biggest US bank deal since the financial crisis, and analysts say the deal will up the ante on rival banks to consolidate. The FT's Robert Armstrong and James Fontanella Khan dig into the details of the deal, and what it means for the broader industry.  Hosted on Acast. See acast.com/privacy for more information.

Shares in the British bakery chain more than doubled from the time it listed on the London Stock Exchange in 2014 to late last year, just before it emerged that its accounts were largely fictitious. The FT's retail correspondent Jonathan Eley walks us through what happened. Hosted on Acast. See acast.com/privacy for more information.

There is a corner of the credit market that has started to worry regulators - leveraged loans. How does the $1.2tn leveraged loan market work and why do some say it could pose a risk to the financial system? The FT’s Colby Smith and Joe Rennison explain. Read more at FT.com/debtmachine. Hosted on Acast. See acast.com/privacy for more information.

The future is on the line again for the carmakers known as the "big three": Ford, GM and what is now Fiat Chrysler. Ten years ago the question was whether the carmakers would survive the financial crisis. Today, investors wonder if traditional car companies will be able to make the technological shift to an industry of self-driving, electric and service-focused cars. The FT’s Patti Waldmeir reports. Hosted on Acast. See acast.com/privacy for more information.

In the past month pharmaceutical companies have spent almost $100bn acquiring biotech companies. The FT's Sarah Neville explains why big pharma is raising its bet on the drug pipelines owned by biotechs, and why analysts expect more consolidation in 2019. Read more from Sarah at FT.com. Hosted on Acast. See acast.com/privacy for more information.

In 2017, the Chinese ride-hailing app was the highest valued start-up in the world at $56bn. But after a difficult period in 2018 following the murder of two passengers on its platform and a government crackdown, Didi has made a move to diversify by offering financial services. The FT's Yuan Yang reports.  Hosted on Acast. See acast.com/privacy for more information.

The arrest of Meng Wanzhou, Huawei's chief financial officer, followed months of mounting scrutiny of the world's biggest telecoms equipment maker. The FT's Nic Fildes explains how Huawei grew to be such a big player, and why western intelligence officials are warning against working with the Chinese company on the next generation of mobile technology.   Hosted on Acast. See acast.com/privacy for more information.

In October, IBM announced it would acquire open source software pioneer Red Hat for $34bn. The deal resonated with Wall Street, but making the two companies work together will be another challenge. The FT’s Richard Waters digs into IBM's history and what its tie-up with Red Hat signals about the future.  Hosted on Acast. See acast.com/privacy for more information.