FT News Briefing

US property industry braces for downturn

Britain’s largest global law firms are struggling to attract and retain staff in the US after the sterling’s drop in value, and the European Commission’s vice-president warned the Federal Reserve’s interest rate rises could lead to a global recession. Plus, the FT’s Taylor Nicole Rogers reports that higher mortgage rates are weighing on the US property industry. Mentioned in this podcast:<a href="https://www.ft.com/content/fab70e6e-52fb-4f70-ba82-5f4880545426" rel="noopener noreferrer" target="_blank">Sterling slump threatens US expansion plans of 'magic circle' law firms</a><a href="https://www.ft.com/content/0619b1e6-6afb-4705-9f4a-133102520d49" rel="noopener noreferrer" target="_blank">Fed-led dash for higher rates risks ‘world recession’, warns EU’s top diplomat</a><a href="https://www.ft.com/content/f60c20bd-1cd4-48d9-aed5-682beb7475fd" rel="noopener noreferrer" target="_blank">US property sector braces for job cuts as rate rises crush home sales</a> The 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.  <a href="https://www.ft.com/content/11807781-42d8-4eb6-9bdb-2d34f7a1ac1a" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a> Hosted on Acast. See <a href="https://acast.com/privacy" rel="noopener noreferrer" style="color:grey;" target="_blank">acast.com/privacy</a> for more information.

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 <a href="https://acast.com/privacy" rel="noopener noreferrer" style="color:grey;" target="_blank">acast.com/privacy</a> for more information.