Behind the Money Financial Times
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- Business
From hostile takeovers to C-suite intrigue, Behind the Money takes you inside the business and financial stories of the moment with reporting from Financial Times journalists around the world.
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Can anyone afford an NBA team?
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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Best Of: Inside a hedge fund disaster
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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Why auditors are missing red flags
Episode description:
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 Untold: Power for Sale
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.
Subscribe and listen on: Apple Podcasts, Spotify or wherever you get your podcasts.
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Dispatch from Omaha: Berkshire after Warren Buffett
Late last year, Warren Buffett’s close business confidant Charlie Munger died at 99. Munger’s death and Buffett’s upcoming 94th birthday have renewed questions about the future of Berkshire Hathaway. What will the empire he’s built look like after he’s no longer at the helm?
Behind the Money and the FT’s senior corporate finance correspondent Eric Platt travel to Omaha, Nebraska for Berkshire Hathaway’s annual shareholder meeting, to get a better sense of how the next generation will lead America’s “last great” conglomerate.
Clips from CNBC
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For further reading:
Berkshire after Buffett: is Greg Abel up to the top job?
Berkshire after Buffett: prized energy business faces upheaval
Berkshire after Buffett: the risk ‘genius’ pulling the insurance strings
Berkshire after Buffett: can any stockpicker follow the Oracle?
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On X, follow Eric Platt (@ericgplatt) 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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Coming soon: China, the new tech superpower
In a new season of Tech Tonic, longtime FT China reporter Jame Kynge travels around the world to see how China is pushing towards tech supremacy. Will China be able to get an edge in crucial technological areas? What does China’s attempt to leapfrog the west look like on the ground? A 6-part series looking at China’s tech industry.
Presented by James Kynge. Edwin Lane is the senior producer. The producer is Josh Gabert-Doyon. Executive producer is Manuela Saragosa. Sound design by Breen Turner and Samantha Giovinco, with original music from Metaphor Music. The FT’s head of audio is Cheryl Brumley.
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