Inflation, the Hamptons and an $800 grocery cart

China’s local government financing vehicles are bailing out cities and provinces that are struggling for cash, and UK prime minister Liz Truss is making a last-ditch effort to convince SoftBank to list its British chip maker, Arm, in the UK. Plus, the FT’s global business columnist Rana Foroohar argues that America’s wealthiest are making bad inflation worse. Mentioned in this podcastChina’s local government financing vehicles go on land buying spreeLiz Truss prepares fresh bid to persuade SoftBank to list Arm in LondonEveryone pays the cost as the rich keep spendingVladimir Putin acknowledges Chinese “concerns” over Ukraine The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.