Behind the Money

• How Indonesia cornered the nickel market

  A decade ago, Indonesia produced only 6% of the world’s supply of refined nickel. Now, it has a de facto monopoly on the market. How did it happen? The FT’s Jakarta correspondent A. Anantha Lakshmi and FT’s commodities correspondent Camilla Hodgson examine what propelled this explosive growth and how China helped it happen. - - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:‘The Opec of nickel’: Indonesia’s control of a critical metal‘Production first, safety later’: inside the world’s largest nickel siteWestern miner Eramet sees no profits in nickel processing without Chinese partners- - - - - - - - - - - - - - - - - - - - - - - - - - Follow A. Anantha Lakshmi and Camilla Hodgson on X (@AnanthalakshmiA) (@CamillaHodgson). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

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• Coming soon: The Wolf-Krugman Exchange

  In a special six-part series of The Economics Show, Martin Wolf, the FT’s chief economics commentator, and Nobel Prize-winning economist Paul Krugman discuss the economic events reshaping the world in the wake of US President Donald Trump’s election. Subscribe and listen to this series on The Economics Show on Apple Podcasts, Spotify, Pocket Casts or wherever you listen to podcasts. Episodes will also be available on the FT’s YouTube channel.If you’d like to get in touch and ask Martin and Paul a question, please email [email protected] Read Martin’s FT column hereSubscribe to Paul’s substack here Hosted on Acast. See acast.com/privacy for more information.

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• Why Blackstone, KKR and Apollo are moving in different directions

  Blackstone, Apollo and KKR. Although they have similar origins, these three top private capital groups are moving in different directions amid tumultuous markets. What do these approaches look like? And will they hold up in a potential downturn? The FT’s Antoine Gara, US private equity and deals editor, breaks down each approach and who’s most likely to perform best in the future.- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:How Blackstone and its biggest rivals are drifting apart Should ordinary US retirement accounts be investing in private assets?Private equity industry shrinks for the first time in decades - - - - - - - - - - - - - - - - - - - - - - - - - - Follow Antoine Gara on X (@AntoineGara), or on Bluesky (@antoinegara.bsky.social‬). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

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• Swamp Notes: Trump’s next 100 days

  This week, Swamp Notes goes to London for a live recording. Katie Martin, host of the Unhedged podcast, and Chris Giles, author of the FT’s Central Banks newsletter, discuss what Trump’s next few months might be like. Have markets truly recovered from the “liberation day” shock? What happens after the 90-day tariff pause is over? Our guests weigh in. Subscribe to the new Swamp Notes feed here.Mentioned in this podcast:Read the latest Chris Giles on Central Banks column hereListen to the Unhedged podcast hereSign up for the FT’s Swamp Notes newsletter hereSwamp Notes is produced by Katya Kumkova. Topher Forhecz is the acting co-head of audio. Special thanks to Mischa Frankl-Duval and Pierre Nicholson.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

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• How Trump’s tariffs threaten Ireland’s pharma fortune

  Ireland has become a major base for US pharma companies, including Pfizer, Eli Lilly and Johnson & Johnson. That’s bolstered the economies of individual towns and played a role in the country’s massive budget surplus. Now, US President Donald Trump’s tariff threats are bringing a dose of uncertainty. The FT’s Ireland correspondent Jude Webber traveled to the town where the world’s supply of Botox is produced to see what impact potential pharmaceutical tariffs might have on the country. Clips from WKYC, The Journal, Bloomberg- - - - - - - - - - - - - - - - - - - - - - - - - - For further reading:Trump tariffs bring furrowed brows to Ireland’s Botox townTrump’s tariffs threaten Ireland’s pharma fortuneIreland’s luxury problem: what to do with its €8.6bn surplus- - - - - - - - - - - - - - - - - - - - - - - - - - Follow Jude Webber on X (@jude_webber), or on Bluesky (@judewebber.bsky.social). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

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