Money Talks from The Economist

Hosts Alice Fulwood, Mike Bird and Tom Lee Devlin take to the road this week with a single aim: bring economics to life. The mission takes them to some unexpected corners of the world and forces them to don some interesting attire. Inspired by The Economist’s A-Z guide, Tom travels to one of the UK’s largest sandwich factories for a lesson in efficiency. Alice visit’s George Washington’s estate to understand how mercantilism made America the country it is today. And Mike learns how Singapore has overcome the limits of its sea border.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Few would have predicted that the demise of Silicon Valley Bank, a niche Californian lender, would be followed by the failure of Credit Suisse. But on March 19 the banking crisis reached Zurich, where regulators brokered a fire sale that saw the ailing 167-year-old bank sold to rival UBS.On this week’s podcast, hosts Alice Fulwood, Tom Lee-Devlin and Mike Bird chart the spread of the crisis and examine its fallout. Richard Berner, a former advisor to the Treasury Secretary, explains: “Silicon Valley Bank was not systemic in life, but proved to be systemic in death.” And Huw van Steenis, who used to advise the chief executive of UBS, explains how the crisis has roiled bond markets.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Until last week, most people beyond California and the tech world probably hadn’t heard of Silicon Valley Bank, but its swift collapse made headlines across the globe. On this week’s podcast, hosts Alice Fulwood, Tom Lee-Devlin and Mike Bird examine what brought the bank down and to what extent the panic has been contained–or might still be spreading. Peter Conti-Brown from University of Pennsylvania’s Wharton School says incompetence was behind the bank’s collapse. And former Treasury Secretary Larry Summers tells them the US government’s decision to guarantee deposits should be enough to restore confidence in the banks and prevent fear spreading.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Robots are getting better and cheaper—and that means they will play a much larger role in our lives. They are already reaching beyond the car plants and warehouses, where they have become commonplace, to turn their mechanised hands to making cocktails and cooking chicken. But what will that mean for the economy?On this week’s podcast, hosts Tom Lee-Devlin, Alice Fulwood and Mike Bird examine whether the rise of the machines is good for workers and hear from Korea, where there are more robots per factory worker than any other country on earth. Kim Povlsen, the boss of robot-maker Universal Robots, says greater automation is needed as populations age and labour shortages become increasingly severe. And Susanne Bieller from the International Federation of Robotics, a global industry group, gives a glimpse of what the future might have in store.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

China was the source of $1trn-worth of electronic goods and components in 2021, roughly a third of the global total. And it’s not just consumer electronics that begin their life in China. The country is the source of everything from childrens’ toys to medical equipment—it dominates the global supply chain. But manufacturers are increasingly looking elsewhere to make their products as China’s rising wages and growing tensions with the US make its factories less attractive than its neighbours.On this week’s podcast, hosts Mike Bird, Alice Fulwood and Tom Lee-Devlin look at Asia’s alternative manufacturing hubs. Manmohan Sodhi, professor of operations and supply chain management at Bayes business school in London, tells them that manufacturing requires more than just factories—it also needs universities, labs and designers. Former diplomat and trade negotiator Wendy Cutler, who is now vice president of the Asia Society Policy Institute, says today’s China-centric supply chain structure is no longer sustainable.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

The rise of Korea’s musicians from local celebrities to international superstars is credited to Lee Soo-man, the godfather of K-pop. The industry he developed gave rise to groups like BTS, which has been the biggest-selling band in the world for two years running. Now, Lee has sold most of his stake in SM Entertainment, the company he founded, to one of its biggest rivals.On this week’s podcast, hosts Mike Bird, Alice Fulwood and Tom Lee-Devlin delve into the world of K-pop and examine how the businesses making one of Korea's newest export industries operate. Author, Mark Russell, tells them how K-pop went global. Analyst, Bokyung Suh, breaks down the secret to its commercial success, and explains whether fans should fear a potential K-pop commercial monopoly.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Quantitative investors are known for their cool, mathematical approach to investing. They build models which search for patterns across huge data sets to discern where they should invest. The frenzied “bubble in everything” wrongfooted many quants in 2020–but the stock markets return to Earth, which crippled many traditional funds, generated huge returns for the quants in 2022. Nowhere was this clearer than in the performance of AQR Capital Management, a quant fund run by Cliff Asness. Its long-running strategy returned 43.5% last year, net of fees. On this week’s podcast, hosts Alice Fulwood, Tom Lee-Devlin and Mike Bird speak to Cliff Asness, the co-founder and chief investment officer of AQR, one of the world’s biggest quant fund managers. He tells them why he’s more open than his competitors and what still keeps him up at night. Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks  For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Just weeks ago, Gautam Adani was the third richest person in the world. But he was caught short when Hindenburg Research, a small American short-seller, issued a report that spooked investors, wiping $100bn from the value of Adani firms.On this week’s podcast, hosts Mike Bird, Alice Fulwood and Tom Lee-Devlin examine the allegations levelled at Adani’s firms, which the company has forcefully denied. The Economist’s Mumbai bureau chief, Tom Easton, talks them through Hindenburg’s report and Adani’s response. Analyst Mahesh Vyas considers the impact on Adani’s ability to borrow to fund infrastructure projects. And short-seller Andrew Left describes what it’s like to hit send on a report that’s intended to crash a firm’s stock price.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Goldman once dominated Wall Street. In 2009, after the financial crisis, when most financial institutions were left reeling, Goldman had its best year ever. It appeared an apex-predator, one that could outsmart its rivals in even the toughest environments. But the last decade has been humbling for Goldman.On this week’s podcast, hosts Alice Fulwood, Tom Lee-Devlin and Mike Bird ask what is going wrong with Goldman Sachs. We hear how the bank grew from a basement office selling promissory notes in downtown Manhattan to become the most revered name on Wall Street. Analyst Steven Chubak tells us when things changed for Goldman, and how it is trying to adapt. And The Economist's Patrick Foulis says the bank’s mystique is at odds with its “mediocre, pedestrian and humdrum” valuation.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

The Walt Disney Company turns 100 years old this week. But the silver screen success that helped it become the world’s biggest entertainment company will not be enough to keep it on top for another century. As households swap cable packages for streaming, and kids turn to gaming, rather than movies, Disney needs reanimating.On this week’s podcast, hosts Tom Lee-Devlin, Alice Fulwood and Mike Bird ask whether Disney has lost its touch. The Economist’s Tom Wainwright takes us on a tour of the Magic Kingdom, to assess its sprawling empire. Analyst Rich Greenfield explains why the company is losing billions on streaming. And Matthew Ball, former head of strategy for Amazon Studios, tells us about the big bet Disney needs to make if it wants to retain its crown.For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.