Volkswagen’s U-turn

Stockpiles of some of the world’s most important industrial metals have dropped to critically low levels, US banks start reporting quarterly earnings today and Boris Johnson has become the first British prime minister to commit a criminal offence. Plus, the FT’s Frankfurt correspondent, Joe Miller, explains why Volkwagen is pivoting its strategy away from growth and toward profit. Mentioned in this podcast:Metal stockpiles shrink as energy prices hit productionUS banks set for big hit to revenues as dealmaking dries upVW to scrap dozens of models to focus on profitabilityThe FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.