FT News Briefing

Higher for even longer

Traders slashed bets on Federal Reserve interest rate cuts, the US audit regulator issued its biggest fine ever against KPMG, and the UK’s Lloyds Banking Group plans to cut jobs in risk management after an internal review found the function was a “blocker to our strategic transformation”. Mentioned in this podcast:<a href="https://on.ft.com/4414vA8" rel="noopener noreferrer" target="_blank">Markets slash rate cut bets after US inflation rises to 3.5%</a><a href="https://on.ft.com/3PW08QS" rel="noopener noreferrer" target="_blank">Investors lose hope of rapid US interest rate cuts this year</a><a href="https://on.ft.com/49wvG6P" rel="noopener noreferrer" target="_blank">KPMG fined $25mn over exam cheating scandal at firm’s Dutch arm</a><a href="https://on.ft.com/4aJRFIo" rel="noopener noreferrer" target="_blank">Lloyds Bank axes risk staff after executives complain they are a ‘blocker’</a><a href="https://usftweekendfestival.live.ft.com" rel="noopener noreferrer" target="_blank">Register for our FTWeekend Festival in the US! </a>Promo code for 10% off tickets: weekendpodcast The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Cara Shillenn, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. 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. <a href="https://www.ft.com/content/fc3e28db-89eb-4747-8f06-4a59901196d9" rel="noopener noreferrer" target="_blank">Read a transcript of this episode on FT.com</a> Hosted on Acast. See <a href="https://acast.com/privacy" rel="noopener noreferrer" style="color:grey;" target="_blank">acast.com/privacy</a> for more information.

A rundown of the most important global business stories you need to know for the coming day, from the newsroom of the Financial Times. Available every weekday morning. Hosted on Acast. See <a href="https://acast.com/privacy" rel="noopener noreferrer" style="color:grey;" target="_blank">acast.com/privacy</a> for more information.