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The Federal Reserve has signalled that US borrowing costs are likely to remain higher for longer, and cruise operator Viking Holdings rose on its market debut. Plus the FT’s Owen Walker explains what the exit of HSBC chief executive Noel Quinn means for the bank’s China strategy. 

Mentioned in this podcast:

Federal Reserve signals that interest rates will remain higher for longer

Cruise line Viking rises after launching year’s second-largest US IPO

What triggered Noel Quinn’s shock exit from HSBC

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by 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

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On today's podcast:

1) Columbia Students Occupy Building as Campus Protests Continue

2) HSBC CEO Quinn Unexpectedly Steps Down After Almost 5 Years

3) Amazon Earnings on Tap 

See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) HSBC CEO Noel Quinn is unexpectedly stepping down after nearly 5 years in the job, triggering a search for a replacement at Europe's largest bank.

(2) The US Treasury ramped up its estimate for federal borrowing for the current quarter to $243 billion, more than most dealers had anticipated, in a move that largely reflected weaker cash receipts than officials had expected.

(3) A pair of traders in Hong Kong have left Societe Generale after the French bank discovered a batch of risky bets that went undetected by the firm's risk-management systems, according to people familiar with the matter.

(4) Surveying the fallout triggered by the resignation of Scotland's First Minister Humza Yousaf, one man appears set to be the biggest beneficiary: the leader of the UK's main opposition Labour Party, Keir Starmer.

(5) Elon Musk's net worth is soaring after it plunged to the lowest level in almost a year. In the past five days, the world's third-richest person has gained $37.3 billion in net worth, according to the Bloomberg Billionaires Index. 

See omnystudio.com/listener for privacy information.

Nvidia’s net income soared nearly 800 per cent in the latest quarter compared to the same period in 2022, HSBC reported an 80 per cent drop in quarterly profit, and Boeing is replacing the executive in charge of manufacturing its 737 Max aircraft. Plus, Indonesia’s incoming president is creating concerns for the country’s democracy. 

Mentioned in this podcast:

Nvidia declares AI ‘tipping point’ as quarterly revenues jump 265%

HSBC shares fall most since 2020 after profits plummet 80%

Boeing ousts head of 737 Max programme

What Prabowo Subianto’s presidential election win means for Indonesia

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by 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.

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1)  The US has told allies that Russia could deploy a nuclear weapon or a mock warhead into space as early as this year, according to people familiar with the matter.

(2) As Russia's war in Ukraine enters a third year, President Vladimir Putin's forces have shifted to the offensive and captured the eastern city of Avdiivka after months of fighting. In a conflict where momentum has ebbed and flowed, the mood is now noticeably darker in Kyiv.

(3) HSBC reported fourth-quarter profit fell 80% after taking unexpected charges on holdings in a Chinese bank and from selling its French retail operations.

 (4) Citigroup lifted Chief Executive Officer Jane Fraser's pay about 6% to $26 million for a year in which she kicked off a major overhaul of the Wall Street giant to simplify operations and boost profitability.

(5) UK Chancellor Jeremy Hunt will have £23 billion of headroom for pre-election tax cuts in his budget next month but any giveaways will be "sandwiched between far bigger past and future tax rises," according to the Resolution Foundation. 

See omnystudio.com/listener for privacy information.

Your morning briefing. The news you need in just 15 minutes.
On today's podcast:

1) A New Big Bull on Wall Street Sees S&P 500 at Record by Year-End

2) DeSantis-Allied PAC Tops Trump in Money Race

3) HSBC Plans New $2 Billion Buyback After Rate Rises Boost Profit  

See omnystudio.com/listener for privacy information.

HSBC's CEO Talks Bumper Profits & UK Shop Prices Drop
Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) HSBC plans to buy back up to $2 billion of stock after a Q2 pretax profit of $8.8 billion.

(2) UK shop prices drop for the first time in two years according to the British Retail Consortium.

(3) Nigel Farage says Coutts have offered to let him keep his account.

(4) The UK has dropped its bid to replace Europe's 'CE' quality mark post-Brexit. 

See omnystudio.com/listener for privacy information.

Your morning briefing. The news you need in just 15 minutes.

On today's podcast:

(1) The Chancellor gets set to announce a budget plan for business investment.

(2) A US drone collides with a Russian fighter jet over the Black Sea.

(3) HSBC cuts base pay for newly-promoted bankers as the UK prepares to scrap its bonus cap.

(4) Apple bites down on bonuses as Meta sheds thousands more jobs. 

See omnystudio.com/listener for privacy information.

A huge thank you to HSBC for powering this week's episode. Whether you’re at the very beginning of your wealth creation phase and taking your first steps in investing or you’re starting to think about passing your wealth and values to the next generation - HSBC can connect you to global opportunities at every stage of your wealth journey. Click here to find out more!

Today we discuss four predictions for the share market in 2023 - is the vibecession ever actually going to become a recession? Will we go into a full crash? Will we recover? How long is the current market kerfuffle going to drag on for? Listen in for Sim & Sonya's hot takes.  

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'Til next week, team!

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This message was left on a householder's voice mail - is it a genuine message from the bank or a scammer?

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