FT News Briefing

Why the energy crisis won’t save western oil refineries

· PT12M11S

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Investors have warned that Treasury secretary Scott Bessent’s attempts to slash long-term US borrowing costs are doomed to fail, and European oil refinery capacity is set to shrink by a fifth over the next decade.

Plus, Shanghai’s answer to the Nasdaq index is benefiting from an investor frenzy for Chinese technology stocks, and a Chinese court has sentenced Evergrande founder Hui Ka Yan to life in prison.

Mentioned in this podcast: Scott Bessent takes on the bond vigilantes Western oil refinery closures set to continue despite war shock Shanghai’s answer to Nasdaq outstrips Hong Kong amid Chinese tech frenzy Founder of collapsed Chinese property giant given life sentence Credit: CNBC  Want to get in touch?

Email us at podcasts@ft.com Note: The FT does not use generative AI to voice its podcasts  The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, and Katya Kumkova.

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