Behind the Money Financial Times

Banks in the US are locked in a bitter fight with regulators. It’s all about a proposed set of rules with an unusual name, Basel III Endgame. Regulators say the rules will help avoid future banking crises. Banks say they’re overkill and could hurt everyday Americans. The FT’s US banking editor Joshua Franklin explains how the industry is pushing back.
Clips from Bloomberg, CNBC
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For further reading:
The US pushback against ‘Basel Endgame’
The bank argument on the Basel III endgame is bunk
EU to delay Basel bank trading reforms as US revisits plans
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On X, follow Joshua Franklin (@FTJFranklin) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. 
Read a transcript of this episode on FT.com

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In November, online fast-fashion giant Shein filed paperwork to go public in the US. Since then the process has not moved forward at all — and it looks like Shein’s ties to Beijing could be to blame. The FT’s China tech correspondent Eleanor Olcott explains how Shein has tried to distance itself from China to appease US regulators, and where it might go public instead. 
Clips from Reuters, Bloomberg, Yahoo Finance
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For further reading:
Shein switches focus to London after New York IPO stalls
Shein’s London IPO flirtation
Shein profits double to over $2bn ahead of planned listing
Fund managers give cool reception to prospect of Shein London IPO
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On X, follow Eleanor Olcott (@EleanorOlcott) and Saffeya Ahmed (@saffeya_ahmed).
Read a transcript of this episode on FT.com

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The 2024 NBA Playoffs are in full swing, but eyes are still on a team that was knocked out last week. The Minnesota Timberwolves are caught up in an ownership dispute that’s gone south pretty fast, after two prospective buyers attempted to finance their purchase of the team in an unconventional way. The FT’s US sports business correspondent Sara Germano breaks down how the deal came together, fell apart, and the can of worms it’s since opened about owning US sports teams. 
Clips from Bleacher Report, FOX 9 Minneapolis-St. Paul, KARE 11, House of Highlights, The Dane Moore NBA Podcast
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For further reading:
The off-the-court fight for one of the NBA’s hottest teams
Private equity gears up for potential National Football League investments
Michael Jordan agrees to sell majority stake in NBA’s Charlotte Hornets
Mark Cuban’s Mavericks bet
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On X, follow Sara Germano (@germanotes) and Saffeya Ahmed (@saffeya_ahmed).
Read a transcript of this episode on FT.com

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This week, we’re revisiting an episode from last November, about a Wall Street saga that lost shareholders more than $10bn. In 2007, when Dan Och took his hedge fund public, he was making a bet that his company would stand the test of time. More than 15 years, a bribery scandal, and a feud with his protégé later, the FT’s Ortenca Aliaj and Sujeet Indap explain how things did not work out as planned. 
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For further reading:
Sculptor Capital: grey areas cause grey hairs in messy bidding war
Fight over Sculptor hedge fund sale entwined in Daniel Och’s tax affairs
Sale of Sculptor Capital on cusp of approval after hedge fund brawl
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On X, follow Ortenca Aliaj (@OrtencaAl), Sujeet Indap (@sindap) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. 
Read a transcript of this episode on FT.com

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Audit firms are supposed to put a company’s books under the microscope. But these days, regulators are finding an increasing number of flaws in the audits that they inspect. The FT’s US accounting editor Stephen Foley explains what’s going wrong, and how regulators around the world plan to fix these shortcomings. 
Clips from CNN, NBC News 
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For further reading:
Why don’t auditors find fraud?
Auditors failed to raise alarm before 75% of UK corporate collapses
Big Four firms rethink governance after year of mis-steps and scandals 
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On X, follow Stephen Foley (@stephenfoley) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.
Read a transcript of this episode on FT.com

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Introducing Power for Sale, a new season of Untold from the Financial Times. In Untold: Power for Sale, host Valentina Pop and a team of FT correspondents from all over Europe investigate what happened in the Qatargate scandal, where EU lawmakers were accused of accepting payments from Qatar to whitewash its image.
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