62 episodes

From hostile takeovers to C-suite intrigue, Behind the Money takes you inside the big business and financial stories of the moment with reporting from Financial Times journalists around the world. Hosted by Aimee Keane.

Behind the Money Financial Times

    • Business News
    • 5.0, 4 Ratings

From hostile takeovers to C-suite intrigue, Behind the Money takes you inside the big business and financial stories of the moment with reporting from Financial Times journalists around the world. Hosted by Aimee Keane.

    Wirecard: how to find a €2bn hole

    Wirecard: how to find a €2bn hole

    In September 2014, the FT’s Dan McCrum received a tip about a fast-growing German fintech group, Wirecard. Over the next couple of years Dan and his colleagues uncovered the secret behind the payment company’s meteoric growth: many of the customers listed in company documents did not exist. In this episode Dan tells the story of the whistleblowers, shoe-leather reporting, hacking, suspected surveillance and legal threats that led to Wirecard’s downfall.  


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    Review clips: CNBC, Deutsche Welle 


    Further reading:


    The double life of Wirecard’s Jan Marsalek https://www.ft.com/content/511ecf86-ab40-486c-8f76-b8ebda4cc669


    Inside Wirecard
    https://www.ft.com/wirecard


    Dan’s 2015 story for Alphaville
    https://ftalphaville.ft.com/2015/04/27/2127427/the-house-of-wirecard/
     
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    • 22 min
    Rent, real estate and the commercial mortgage market in the age of coronavirus

    Rent, real estate and the commercial mortgage market in the age of coronavirus

    In the US, commercial mortgage backed securities are a $1.2tn market, and an integral part of how banks lend to commercial property owners. But as the pandemic and subsequent lockdowns changed almost every sector of the economy, commercial real estate has changed too. Hotels and retailers have been hit hard by the shutdown, and mortgage and rent payments they have deferred are coming due. The FT’s Joe Rennison explains what this means for the CMBS market. We also hear from two people who are helping lenders and landlords deal with the upheaval.
     
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    • 16 min
    A history of police funding

    A history of police funding

    When a Minneapolis police officer killed George Floyd, it was as if a fire was ignited. His death, along with the killings of Breonna Taylor and Ahmaud Arbery have sparked the most widespread protests in the US since 1968. Hundreds of thousands of people have marched under banners such as “Black Lives Matter”, “No Justice, No Peace” and “Say Their Names”. Now, the voices of activists are converging around a call to “defund the police”. In this episode, we hear from Rachel Harmon, a professor of law at the University of Virginia, and Vesla M Weaver, a professor of political science and sociology at Johns Hopkins University, about the role the federal government, and federal funding, have played in transforming policing in the US.






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    To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/behindthemoneycovid or https://www.ft.com/newsletter-signup/coronavirus?segmentId=12f1abd6-6f16-e2df-e4ff-7aaa9346f98e.
     
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    • 22 min
    A programming note

    A programming note

    An update on this week's episode
     
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    • 18 sec
    The private equity bet that coronavirus cut short

    The private equity bet that coronavirus cut short

    Last December executives at the Carlyle Group worked into the night to sign what they imagined would be one of the private equity firm’s most enduring deals. In 2020, however, there may be no such thing as a stable business. Carlyle is now trying to walk away from a deal with American Express Global Business Travel before any money has changed hands. Our US private capital correspondent, Mark Vandevelde, reports on the ensuing legal row, and what it could mean for dealmaking during the pandemic.  


    To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/behindthemoneycovid or https://www.ft.com/newsletter-signup/coronavirus?segmentId=12f1abd6-6f16-e2df-e4ff-7aaa9346f98e.


    A few stories for further reading:
    - Inside Carlyle’s ‘long-term’ Amex bet that coronavirus cut short (paywall): https://www.ft.com/content/e710b3dc-3eba-4227-9258-6a678d66f6e1
    - Apollo: how a private equity giant is navigating the crisis (paywall): https://www.ft.com/content/6fce9808-84ab-11ea-b555-37a289098206
    - Coronavirus: private equity’s bailout moment (paywall): https://www.ft.com/content/f7cc82d7-70b9-40c3-b4a0-815ebc5d99d5  
     
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    • 19 min
    When coronavirus hit America's meat industry

    When coronavirus hit America's meat industry

    This was supposed to be a record year for the US meat industry. But when coronavirus hit the meat-packing plants, it exposed a vulnerable link in the supply chain. We take a look at how our meat gets from the farm to the supermarket, and ask what the fall in production could mean for the US-China trade truce. With the FT’s Gregory Meyer. 


    To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/behindthemoneycovid.


    Further reading:
    Coronavirus: return to work divides US meat industry (paywall) 
    https://www.ft.com/content/f6e2b4ad-4a62-4c6f-8348-38704e3e81f6


    Tyson Foods warns of sales declines and rising costs (paywall)
    https://www.ft.com/content/f0b4f894-cd46-44f2-b7b0-10707de449db


    John Tyson laments breakdown of meat system his family pioneered (paywall)
    https://www.ft.com/content/82c2f5fa-1070-4388-853b-a2ed430fbf04


    Pandemic accelerates shift to meat substitutes (paywall)
    https://www.ft.com/content/0127984a-6def-4040-9bca-002b6ffd4e0a


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    On 12-14 May, the Financial Times, in partnership with TNW, will gather the most senior global decision makers and leading minds in policy, business, tech and finance for three days of online conversations with top FT journalists, analysing the impact of the pandemic across global economies, industries and markets, and outlining what is required to shape the optimal conditions for recovery at this most challenging of times. Register at globalboardroom.ft.com.
     
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    • 18 min

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