Federal Reserve officials discussed the need to keep interest rates at levels that would constrain the economy “for some time” to try to contain inflation, the UK’s short-term borrowing costs rose to highest since 2008 and Tencent posts its first quarterly revenue decline. . Also, the collapse of Chinese food delivery app Miss Fresh could be a cautionary tale for other tech giants in China.
Mentioned in this podcast:
Fed officials say tighter rates may be needed ‘for a while’
UK bonds sell off as hot inflation boosts expectations of a BoE rate hike
Tencent hurt by slowing Chinese economy and halt in game approvals
What Missfresh’s Collapse Means for China’s Tech Sector
Latest alcohol tips from Japan: Drink more
The FT News Briefing is produced by Sonja Hutson, Fiona Symon and Marc Filippino. The program editor is Jess Smith. Additional help from 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 main theme of the show is by Metaphor Music.
Read a transcript of this episode on FT.com