<description>&lt;p&gt;Raids by the US Immigration and Customs Enforcement have made national headlines. But behind ICE’s operations, a sprawling web of private companies – from global powerhouses to niche family-run businesses – have secured hundreds of millions of dollars in government contracts. Peter Andringa from the FT’s visual investigations team spent months crawling through federal documents and data sets to put together a picture of the companies that make up this web.&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Clips from ABC7 News Bay Area, CBS 6 Albany, C-SPAN, Donald J Trump, Fox 26 Houston, Fox Nashville, Fox News, NBC Connecticut, The New York Times&lt;/p&gt;&lt;br&gt;&lt;p&gt;The FT does not use generative AI to voice its podcasts.&lt;/p&gt;&lt;br&gt;&lt;p&gt;- - - - - - - - - - - - - - - - - - - - - - - - - -&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;strong&gt;For further reading:&amp;nbsp;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/c74170d3-237d-459c-8642-bfd71530897d" rel="noopener noreferrer" target="_blank"&gt;Companies reap $22bn from Trump’s immigration crackdown&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://ig.ft.com/us-ice-surveillance" rel="noopener noreferrer" target="_blank"&gt;Trump’s immigration data dragnet&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://ig.ft.com/us-deportation-flights" rel="noopener noreferrer" target="_blank"&gt;The booming business of Trump’s deportation flights&lt;/a&gt;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;strong&gt;For further listening:&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/33e43b0b-c004-4ed2-b2db-8874b41ac275" rel="noopener noreferrer" target="_blank"&gt;Palantir’s relentless rise&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/540dd0d5-a3b2-4482-adde-f88a734260ad" rel="noopener noreferrer" target="_blank"&gt;US uses private data to track immigrants&lt;/a&gt;&lt;/p&gt;&lt;br&gt;&lt;p&gt;- - - - - - - - - - - - - - - - - - - - - - - - - -&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Follow Peter Andringa on X (&lt;a href="https://x.com/peterjandringa" rel="noopener noreferrer" target="_blank"&gt;@peterjandringa&lt;/a&gt;), or on Bluesky (&lt;a href="https://bsky.app/profile/peter.andringa.me" rel="noopener noreferrer" target="_blank"&gt;@peter.andringa.me&lt;/a&gt;)&amp;nbsp;&lt;a href="https://www.ft.com/michela-tindera" rel="noopener noreferrer" target="_blank"&gt;Michela Tindera&lt;/a&gt; is on X (&lt;a href="https://twitter.com/mtindera07" rel="noopener noreferrer" target="_blank"&gt;@mtindera07&lt;/a&gt;) and Bluesky (&lt;a href="https://bsky.app/profile/mtindera.ft.com" rel="noopener noreferrer" target="_blank"&gt;@mtindera.ft.com&lt;/a&gt;), or follow her on LinkedIn for updates about the show and more.&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/e866adaf-07c6-4be1-b543-e3aafc2ef116" rel="noopener noreferrer" target="_blank"&gt;&lt;strong&gt;Read a transcript of this episode on FT.com&lt;/strong&gt;&lt;/a&gt;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;hr&gt;&lt;p style='color:grey; font-size:0.75em;'&gt; Hosted on Acast. See &lt;a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'&gt;acast.com/privacy&lt;/a&gt; for more information.&lt;/p&gt;</description>

Behind the scenes of ICE operations and the companies benefiting the most

Raids by the US Immigration and Customs Enforcement have made national headlines. But behind ICE’s operations, a sprawling web of private companies – from global powerhouses to niche family-run businesses – have secured hundreds of millions of dollars in government contracts. Peter Andringa from the FT’s visual investigations team spent months crawling through federal documents and data sets to put together a picture of the companies that make up this web.&nbsp; Clips from ABC7 News Bay Area, CBS 6 Albany, C-SPAN, Donald J Trump, Fox 26 Houston, Fox Nashville, Fox News, NBC Connecticut, The New York Times The FT does not use generative AI to voice its podcasts. - - - - - - - - - - - - - - - - - - - - - - - - - -&nbsp; For further reading:&nbsp;<a href="https://www.ft.com/content/c74170d3-237d-459c-8642-bfd71530897d" rel="noopener noreferrer" target="_blank">Companies reap $22bn from Trump’s immigration crackdown</a><a href="https://ig.ft.com/us-ice-surveillance" rel="noopener noreferrer" target="_blank">Trump’s immigration data dragnet</a><a href="https://ig.ft.com/us-deportation-flights" rel="noopener noreferrer" target="_blank">The booming business of Trump’s deportation flights</a> For further listening:<a href="https://www.ft.com/content/33e43b0b-c004-4ed2-b2db-8874b41ac275" rel="noopener noreferrer" target="_blank">Palantir’s relentless rise</a><a href="https://www.ft.com/content/540dd0d5-a3b2-4482-adde-f88a734260ad" rel="noopener noreferrer" target="_blank">US uses private data to track immigrants</a> - - - - - - - - - - - - - - - - - - - - - - - - - -&nbsp; Follow Peter Andringa on X (<a href="https://x.com/peterjandringa" rel="noopener noreferrer" target="_blank">@peterjandringa</a>), or on Bluesky (<a href="https://bsky.app/profile/peter.andringa.me" rel="noopener noreferrer" target="_blank">@peter.andringa.me</a>)&nbsp;<a href="https://www.ft.com/michela-tindera" rel="noopener noreferrer" target="_blank">Michela Tindera</a> is on X (<a href="https://twitter.com/mtindera07" rel="noopener noreferrer" target="_blank">@mtindera07</a>) and Bluesky (<a href="https://bsky.app/profile/mtindera.ft.com" rel="noopener noreferrer" target="_blank">@mtindera.ft.com</a>), or follow her on LinkedIn for updates about the show and more.&nbsp; <a href="https://www.ft.com/content/e866adaf-07c6-4be1-b543-e3aafc2ef116" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a> <hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

Companies reap $22bn from Trump’s immigration crackdown

<description>&lt;p&gt;Partners Group pursued an innovative approach to private equity: The firm built a business serving a market of individual investors. Now, a recent executive order from US President Donald Trump is set to unlock that marketplace on an even grander scale.&lt;/p&gt;&lt;br&gt;&lt;p&gt;The only thing is, Partners might not be the one to reap the rewards. The FT’s US private equity and deals editor Antoine Gara and private capital reporter Alexandra Heal explain how the pioneer is struggling to keep up with its rivals.&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Clips from CBS, CBS19&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;The FT does not use generative AI to voice its podcasts&lt;/p&gt;&lt;br&gt;&lt;p&gt;- - - - - - - - - - - - - - - - - - - - - - - - - -&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;strong&gt;For further reading:&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/7b9e7575-f35b-4bd8-a901-f3af3525d753" rel="noopener noreferrer" target="_blank"&gt;How private equity’s pioneer in tapping retail money lost its edge&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/6647ad13-0954-4257-8112-cb02e9515cf6" rel="noopener noreferrer" target="_blank"&gt;Donald Trump exposes US retirees to new world of risk with 401k order&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/f25fbd07-273b-4af4-9e5c-0f80ea004bfe" rel="noopener noreferrer" target="_blank"&gt;Buyout executive warns private equity push into US savings risks bailouts&amp;nbsp;&lt;/a&gt;&lt;/p&gt;&lt;br&gt;&lt;p&gt;- - - - - - - - - - - - - - - - - - - - - - - - - -&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Follow Antoine Gara on X (&lt;a href="https://x.com/AntoineGara" rel="noopener noreferrer" target="_blank"&gt;@AntoineGara&lt;/a&gt;) and Bluesky (&lt;a href="https://bsky.app/profile/antoinegara.bsky.social" rel="noopener noreferrer" target="_blank"&gt;@antoinegara.bsky.social&lt;/a&gt;). Alexandra Heal is on X (&lt;a href="https://x.com/alexandraheal" rel="noopener noreferrer" target="_blank"&gt;@alexandraheal&lt;/a&gt;) and Bluesky (&lt;a href="https://bsky.app/profile/alexandraheal.bsky.social" rel="noopener noreferrer" target="_blank"&gt;@alexandraheal.bsky.social&lt;/a&gt;). &lt;a href="https://www.ft.com/michela-tindera" rel="noopener noreferrer" target="_blank"&gt;Michela Tindera&lt;/a&gt; is on X (&lt;a href="https://twitter.com/mtindera07" rel="noopener noreferrer" target="_blank"&gt;@mtindera07&lt;/a&gt;) and Bluesky (&lt;a href="https://bsky.app/profile/mtindera.ft.com" rel="noopener noreferrer" target="_blank"&gt;@mtindera.ft.com&lt;/a&gt;), or follow her on LinkedIn for updates about the show and more.&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/dd546473-8edd-4a3f-8aa5-b97716c4a64c" rel="noopener noreferrer" target="_blank"&gt;&lt;strong&gt;Read a transcript of this episode on FT.com&lt;/strong&gt;&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;br&gt;&lt;/p&gt;&lt;hr&gt;&lt;p style='color:grey; font-size:0.75em;'&gt; Hosted on Acast. See &lt;a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'&gt;acast.com/privacy&lt;/a&gt; for more information.&lt;/p&gt;</description>

Partners Group built a business by serving individual investors, but US rivals have the market in their sights

Partners Group pursued an innovative approach to private equity: The firm built a business serving a market of individual investors. Now, a recent executive order from US President Donald Trump is set to unlock that marketplace on an even grander scale. The only thing is, Partners might not be the one to reap the rewards. The FT’s US private equity and deals editor Antoine Gara and private capital reporter Alexandra Heal explain how the pioneer is struggling to keep up with its rivals.&nbsp; Clips from CBS, CBS19&nbsp;&nbsp; The FT does not use generative AI to voice its podcasts - - - - - - - - - - - - - - - - - - - - - - - - - -&nbsp; For further reading:<a href="https://www.ft.com/content/7b9e7575-f35b-4bd8-a901-f3af3525d753" rel="noopener noreferrer" target="_blank">How private equity’s pioneer in tapping retail money lost its edge</a><a href="https://www.ft.com/content/6647ad13-0954-4257-8112-cb02e9515cf6" rel="noopener noreferrer" target="_blank">Donald Trump exposes US retirees to new world of risk with 401k order</a><a href="https://www.ft.com/content/f25fbd07-273b-4af4-9e5c-0f80ea004bfe" rel="noopener noreferrer" target="_blank">Buyout executive warns private equity push into US savings risks bailouts&nbsp;</a> - - - - - - - - - - - - - - - - - - - - - - - - - -&nbsp; Follow Antoine Gara on X (<a href="https://x.com/AntoineGara" rel="noopener noreferrer" target="_blank">@AntoineGara</a>) and Bluesky (<a href="https://bsky.app/profile/antoinegara.bsky.social" rel="noopener noreferrer" target="_blank">@antoinegara.bsky.social</a>). Alexandra Heal is on X (<a href="https://x.com/alexandraheal" rel="noopener noreferrer" target="_blank">@alexandraheal</a>) and Bluesky (<a href="https://bsky.app/profile/alexandraheal.bsky.social" rel="noopener noreferrer" target="_blank">@alexandraheal.bsky.social</a>). <a href="https://www.ft.com/michela-tindera" rel="noopener noreferrer" target="_blank">Michela Tindera</a> is on X (<a href="https://twitter.com/mtindera07" rel="noopener noreferrer" target="_blank">@mtindera07</a>) and Bluesky (<a href="https://bsky.app/profile/mtindera.ft.com" rel="noopener noreferrer" target="_blank">@mtindera.ft.com</a>), or follow her on LinkedIn for updates about the show and more.&nbsp; <a href="https://www.ft.com/content/dd546473-8edd-4a3f-8aa5-b97716c4a64c" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a> <hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

How a private equity pioneer lost its grip on the market it invented

<description>&lt;p&gt;When the hedge fund Elliott Management pursued the acquisition of the oil refinery business Citgo a few years ago, the deal was already a complicated one. A US court had ordered its current owner, Venezuela, to sell the business, and the country was not happy about it. But, things only got thornier after the US President Donald Trump removed the Caribbean nation’s leader Nicolás Maduro. The FT’s US investment correspondent Amelia Pollard and hedge fund correspondent Costas Mourselas explain how Elliott often thrives pursuing complex deals, and how they might navigate closing this one.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Clips from Citgo, CNN, Norges Bank Investment Management, The White House, VTV&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;The FT does not use generative AI to voice its podcasts.&lt;/p&gt;&lt;br&gt;&lt;p&gt;- - - - - - - - - - - - - - - - - - - - - - - - - -&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;strong&gt;For further reading:&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/27387730-f26d-4e0b-a8d2-62e4f12d1821" rel="noopener noreferrer" target="_blank"&gt;Donald Trump’s removal of Maduro clouds fate of Elliott’s Citgo deal&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/6f0f7b92-e6dc-45d1-b065-58acf314e8a9" rel="noopener noreferrer" target="_blank"&gt;How Venezuela lost Citgo&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/2c04228d-2f2b-49d7-bbed-974053e285b9" rel="noopener noreferrer" target="_blank"&gt;Hedge funds hunt for Venezuela’s unpaid financial claims&lt;/a&gt;&lt;/p&gt;&lt;br&gt;&lt;p&gt;- - - - - - - - - - - - - - - - - - - - - - - - - -&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Follow Costas Mourselas on X (&lt;a href="https://x.com/CostasMourselas" rel="noopener noreferrer" target="_blank"&gt;@CostasMourselas&lt;/a&gt;) and Bluesky (&lt;a href="https://bsky.app/profile/costasmourselas.bsky.social" rel="noopener noreferrer" target="_blank"&gt;@costasmourselas.bsky.social&lt;/a&gt;). Amelia Pollard is on X (&lt;a href="https://x.com/ameliajpollard" rel="noopener noreferrer" target="_blank"&gt;@ameliajpollard&lt;/a&gt;) and Bluesky (&lt;a href="https://bsky.app/profile/pollard.bsky.social" rel="noopener noreferrer" target="_blank"&gt;@pollard.bsky.social&lt;/a&gt;). &lt;a href="https://www.ft.com/michela-tindera" rel="noopener noreferrer" target="_blank"&gt;Michela Tindera&lt;/a&gt; is on X (&lt;a href="https://twitter.com/mtindera07" rel="noopener noreferrer" target="_blank"&gt;@mtindera07&lt;/a&gt;) and Bluesky (&lt;a href="https://bsky.app/profile/mtindera.ft.com" rel="noopener noreferrer" target="_blank"&gt;@mtindera.ft.com&lt;/a&gt;), or follow her on LinkedIn for updates about the show and more.&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/c8364bbb-4555-47dc-85d3-fc75f21ea6a3" rel="noopener noreferrer" target="_blank"&gt;&lt;strong&gt;Read a transcript of this episode on FT.com&lt;/strong&gt;&lt;/a&gt;&lt;/p&gt;&lt;hr&gt;&lt;p style='color:grey; font-size:0.75em;'&gt; Hosted on Acast. See &lt;a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'&gt;acast.com/privacy&lt;/a&gt; for more information.&lt;/p&gt;</description>

Elliott Management’s acquisition of a Venezuela-owned oil business collides with geopolitics

When the hedge fund Elliott Management pursued the acquisition of the oil refinery business Citgo a few years ago, the deal was already a complicated one. A US court had ordered its current owner, Venezuela, to sell the business, and the country was not happy about it. But, things only got thornier after the US President Donald Trump removed the Caribbean nation’s leader Nicolás Maduro. The FT’s US investment correspondent Amelia Pollard and hedge fund correspondent Costas Mourselas explain how Elliott often thrives pursuing complex deals, and how they might navigate closing this one.&nbsp;&nbsp;&nbsp;&nbsp; Clips from Citgo, CNN, Norges Bank Investment Management, The White House, VTV&nbsp;&nbsp;&nbsp; The FT does not use generative AI to voice its podcasts. - - - - - - - - - - - - - - - - - - - - - - - - - -&nbsp; For further reading:<a href="https://www.ft.com/content/27387730-f26d-4e0b-a8d2-62e4f12d1821" rel="noopener noreferrer" target="_blank">Donald Trump’s removal of Maduro clouds fate of Elliott’s Citgo deal</a><a href="https://www.ft.com/content/6f0f7b92-e6dc-45d1-b065-58acf314e8a9" rel="noopener noreferrer" target="_blank">How Venezuela lost Citgo</a><a href="https://www.ft.com/content/2c04228d-2f2b-49d7-bbed-974053e285b9" rel="noopener noreferrer" target="_blank">Hedge funds hunt for Venezuela’s unpaid financial claims</a> - - - - - - - - - - - - - - - - - - - - - - - - - -&nbsp; Follow Costas Mourselas on X (<a href="https://x.com/CostasMourselas" rel="noopener noreferrer" target="_blank">@CostasMourselas</a>) and Bluesky (<a href="https://bsky.app/profile/costasmourselas.bsky.social" rel="noopener noreferrer" target="_blank">@costasmourselas.bsky.social</a>). Amelia Pollard is on X (<a href="https://x.com/ameliajpollard" rel="noopener noreferrer" target="_blank">@ameliajpollard</a>) and Bluesky (<a href="https://bsky.app/profile/pollard.bsky.social" rel="noopener noreferrer" target="_blank">@pollard.bsky.social</a>). <a href="https://www.ft.com/michela-tindera" rel="noopener noreferrer" target="_blank">Michela Tindera</a> is on X (<a href="https://twitter.com/mtindera07" rel="noopener noreferrer" target="_blank">@mtindera07</a>) and Bluesky (<a href="https://bsky.app/profile/mtindera.ft.com" rel="noopener noreferrer" target="_blank">@mtindera.ft.com</a>), or follow her on LinkedIn for updates about the show and more.&nbsp; <a href="https://www.ft.com/content/c8364bbb-4555-47dc-85d3-fc75f21ea6a3" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a><hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

A hedge fund’s $8bn bet on Venezuela’s Citgo

<description>&lt;p&gt;US President Donald Trump on Friday made his pick to lead the Federal Reserve: Kevin Warsh. The former central bank governor with ties to Wall Street is seen as a mainstream pick. Still, some economists say if Warsh is confirmed, he will trigger a sweeping rethink of the Fed’s role at the centre of the world’s biggest economy. The FT’s US economics editor Claire Jones explains who Warsh is, what he wants to do at the Fed, and how it might go.&lt;/p&gt;&lt;br&gt;&lt;p&gt;Clips from Fox Business, Group of Thirty&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;The FT does not use generative AI to voice its podcasts.&lt;/p&gt;&lt;br&gt;&lt;p&gt;- - - - - - - - - - - - - - - - - - - - - - - - - -&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;strong&gt;For further reading:&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/5c1af439-a1a1-4684-b27e-21a527abe676" rel="noopener noreferrer" target="_blank"&gt;Kevin Warsh’s nomination as Fed chair to spark rethink of bank’s role&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/2030acc1-4026-4ad1-81bc-12754389f71d" rel="noopener noreferrer" target="_blank"&gt;Kevin Warsh, the Fed chair nominee shaped by the 2008 financial crisis&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/e29721dc-2a70-42b8-9fdc-c1e93792c359" rel="noopener noreferrer" target="_blank"&gt;How Kevin Warsh won the race to become Donald Trump’s new Federal Reserve chair&lt;/a&gt;&lt;/p&gt;&lt;br&gt;&lt;p&gt;- - - - - - - - - - - - - - - - - - - - - - - - - -&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Follow Claire Jones on X (&lt;a href="https://x.com/senoj_erialc?lang=en" rel="noopener noreferrer" target="_blank"&gt;@senoj_erialc&lt;/a&gt;).&amp;nbsp;&lt;a href="https://www.ft.com/michela-tindera" rel="noopener noreferrer" target="_blank"&gt;Michela Tindera&lt;/a&gt; is on X (&lt;a href="https://twitter.com/mtindera07" rel="noopener noreferrer" target="_blank"&gt;@mtindera07&lt;/a&gt;) and Bluesky (&lt;a href="https://bsky.app/profile/mtindera.ft.com" rel="noopener noreferrer" target="_blank"&gt;@mtindera.ft.com&lt;/a&gt;), or follow her on LinkedIn for updates about the show and more.&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/4f1fce06-c267-4b4b-8545-78a883af8c3c" rel="noopener noreferrer" target="_blank"&gt;&lt;strong&gt;Read a transcript of this episode on FT.com&lt;/strong&gt;&lt;/a&gt;&lt;/p&gt;&lt;hr&gt;&lt;p style='color:grey; font-size:0.75em;'&gt; Hosted on Acast. See &lt;a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'&gt;acast.com/privacy&lt;/a&gt; for more information.&lt;/p&gt;</description>

What Warsh’s central bank may look like

US President Donald Trump on Friday made his pick to lead the Federal Reserve: Kevin Warsh. The former central bank governor with ties to Wall Street is seen as a mainstream pick. Still, some economists say if Warsh is confirmed, he will trigger a sweeping rethink of the Fed’s role at the centre of the world’s biggest economy. The FT’s US economics editor Claire Jones explains who Warsh is, what he wants to do at the Fed, and how it might go. Clips from Fox Business, Group of Thirty&nbsp; The FT does not use generative AI to voice its podcasts. - - - - - - - - - - - - - - - - - - - - - - - - - -&nbsp; For further reading:<a href="https://www.ft.com/content/5c1af439-a1a1-4684-b27e-21a527abe676" rel="noopener noreferrer" target="_blank">Kevin Warsh’s nomination as Fed chair to spark rethink of bank’s role</a><a href="https://www.ft.com/content/2030acc1-4026-4ad1-81bc-12754389f71d" rel="noopener noreferrer" target="_blank">Kevin Warsh, the Fed chair nominee shaped by the 2008 financial crisis</a><a href="https://www.ft.com/content/e29721dc-2a70-42b8-9fdc-c1e93792c359" rel="noopener noreferrer" target="_blank">How Kevin Warsh won the race to become Donald Trump’s new Federal Reserve chair</a> - - - - - - - - - - - - - - - - - - - - - - - - - -&nbsp; Follow Claire Jones on X (<a href="https://x.com/senoj_erialc?lang=en" rel="noopener noreferrer" target="_blank">@senoj_erialc</a>).&nbsp;<a href="https://www.ft.com/michela-tindera" rel="noopener noreferrer" target="_blank">Michela Tindera</a> is on X (<a href="https://twitter.com/mtindera07" rel="noopener noreferrer" target="_blank">@mtindera07</a>) and Bluesky (<a href="https://bsky.app/profile/mtindera.ft.com" rel="noopener noreferrer" target="_blank">@mtindera.ft.com</a>), or follow her on LinkedIn for updates about the show and more.&nbsp; <a href="https://www.ft.com/content/4f1fce06-c267-4b4b-8545-78a883af8c3c" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a><hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

How the Federal Reserve might change under Kevin Warsh

<description>&lt;p&gt;For more than 170 years, Wells Fargo built a reputation as an all-American Main Street lender. Now, it is charting a new path and pushing into investment banking, something that many other banks have tried and failed to do. The FT’s US banking editor Joshua Franklin and US banking correspondent Akila Quinio discuss what Wells Fargo does — and doesn’t have — going for it as it pursues this strategy.&lt;/p&gt;&lt;br&gt;&lt;p&gt;Clips from, CNN, CBS News, CNBC, CNN, HBO, KPIX, KRON4, NBC News, Wells Fargo&lt;/p&gt;&lt;br&gt;&lt;p&gt;The FT does not use generative AI to voice its podcasts.&lt;/p&gt;&lt;br&gt;&lt;p&gt;- - - - - - - - - - - - - - - - - - - - - - - - - -&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;strong&gt;For further reading:&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/f5ac8471-184e-4425-bd4e-8c2d0197c3d7" rel="noopener noreferrer" target="_blank"&gt;Wells Fargo wants to be taken seriously as an investment bank. Will it succeed?&lt;/a&gt;&amp;nbsp;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/d2753189-89d0-495f-9490-345d47412615" rel="noopener noreferrer" target="_blank"&gt;Wells Fargo has finally shed its dunce cap&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/f82583ba-03ec-4cca-9560-a7a2e1d55574" rel="noopener noreferrer" target="_blank"&gt;Netflix leans on $59bn bank loan to fund Warner Bros takeover&lt;/a&gt;&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;- - - - - - - - - - - - - - - - - - - - - - - - - -&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;Follow Joshua Franklin on X (&lt;a href="https://x.com/ftjfranklin" rel="noopener noreferrer" target="_blank"&gt;@ftjfranklin&lt;/a&gt;). Akila Quinio is on X (&lt;a href="https://www.ft.com/akila-quinio" rel="noopener noreferrer" target="_blank"&gt;@akilazoe&lt;/a&gt;). &lt;a href="https://www.ft.com/michela-tindera" rel="noopener noreferrer" target="_blank"&gt;Michela Tindera&lt;/a&gt; is on X (&lt;a href="https://twitter.com/mtindera07" rel="noopener noreferrer" target="_blank"&gt;@mtindera07&lt;/a&gt;) and Bluesky (&lt;a href="https://bsky.app/profile/mtindera.ft.com" rel="noopener noreferrer" target="_blank"&gt;@mtindera.ft.com&lt;/a&gt;), or follow her on LinkedIn for updates about the show and more.&amp;nbsp;&lt;/p&gt;&lt;br&gt;&lt;p&gt;&lt;a href="https://www.ft.com/content/fb4ceda7-cb58-4160-a2dc-eae488f36754" rel="noopener noreferrer" target="_blank"&gt;&lt;strong&gt;Read a transcript of this episode on FT.com&lt;/strong&gt;&lt;/a&gt;&lt;/p&gt;&lt;hr&gt;&lt;p style='color:grey; font-size:0.75em;'&gt; Hosted on Acast. See &lt;a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'&gt;acast.com/privacy&lt;/a&gt; for more information.&lt;/p&gt;</description>

Free from a punitive asset cap, Wells Fargo’s making a bet on Wall Street

For more than 170 years, Wells Fargo built a reputation as an all-American Main Street lender. Now, it is charting a new path and pushing into investment banking, something that many other banks have tried and failed to do. The FT’s US banking editor Joshua Franklin and US banking correspondent Akila Quinio discuss what Wells Fargo does — and doesn’t have — going for it as it pursues this strategy. Clips from, CNN, CBS News, CNBC, CNN, HBO, KPIX, KRON4, NBC News, Wells Fargo The FT does not use generative AI to voice its podcasts. - - - - - - - - - - - - - - - - - - - - - - - - - -&nbsp; For further reading:<a href="https://www.ft.com/content/f5ac8471-184e-4425-bd4e-8c2d0197c3d7" rel="noopener noreferrer" target="_blank">Wells Fargo wants to be taken seriously as an investment bank. Will it succeed?</a>&nbsp;<a href="https://www.ft.com/content/d2753189-89d0-495f-9490-345d47412615" rel="noopener noreferrer" target="_blank">Wells Fargo has finally shed its dunce cap</a><a href="https://www.ft.com/content/f82583ba-03ec-4cca-9560-a7a2e1d55574" rel="noopener noreferrer" target="_blank">Netflix leans on $59bn bank loan to fund Warner Bros takeover</a>&nbsp; - - - - - - - - - - - - - - - - - - - - - - - - - -&nbsp; Follow Joshua Franklin on X (<a href="https://x.com/ftjfranklin" rel="noopener noreferrer" target="_blank">@ftjfranklin</a>). Akila Quinio is on X (<a href="https://www.ft.com/akila-quinio" rel="noopener noreferrer" target="_blank">@akilazoe</a>). <a href="https://www.ft.com/michela-tindera" rel="noopener noreferrer" target="_blank">Michela Tindera</a> is on X (<a href="https://twitter.com/mtindera07" rel="noopener noreferrer" target="_blank">@mtindera07</a>) and Bluesky (<a href="https://bsky.app/profile/mtindera.ft.com" rel="noopener noreferrer" target="_blank">@mtindera.ft.com</a>), or follow her on LinkedIn for updates about the show and more.&nbsp; <a href="https://www.ft.com/content/fb4ceda7-cb58-4160-a2dc-eae488f36754" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a><hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

Can Wells Fargo make it in investment banking?

Behind the Money takes you inside the business and financial stories of the moment with reporting from Financial Times journalists around the world. <hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

Behind the Money

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