From Alipay’s QR codes to PayPal, it’s never been easier to move money around. Central banks are even considering their own digital currencies. And all that cross-border cashlessness has some wondering about the dollar’s international dominance.On this week’s podcast, hosts Mike Bird and Tom Lee-Devlin examine the risks to the world’s reserve currency. The Economist’s Arjun Ramani explains how far digital payments have come; Mairead McGuinness, European Commissioner for financial services, discusses ambitions for a digital euro; and Michael Pettis from Peking University explains the costs inherent in hosting a reserve currency.We would love to hear from you. Please fill out our listener survey at economist.com/moneytalkssurveySign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks from The Economist

Money Talks: Another way, another dollar?

Housing in America has never been this unaffordable. The pandemic set off skyrocketing prices; then the Fed began to rapidly increase interest rates, pushing up borrowing costs. Many predicted this might result in a crash. But after dropping 10% from all-time highs, home prices in America are picking up again. What is going on?On this week’s podcast, hosts Alice Fulwood, Tom Lee-Devlin and Mike Bird ask if anything can take the heat out of the American housing market. Skylar Olsen, chief economist at property app Zillow, tells them that interest rate rises have added $800 a month to the typical American household’s mortgage bill. And Domonic Purviance from the Federal Reserve Bank of Atlanta explains how central bankers are thinking about the impact on the affordability of those loans.We would love to hear from you. Please fill out our listener survey at economist.com/moneytalkssurveySign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: Why house prices are so stubbornly high

Buying a car used to be about two things: style and performance. But as motorists trade in their petrol or diesel cars for electric vehicles, manufacturers are increasingly focusing on experience by adding features like karaoke machines and mood lighting. Those drivers also have a lot more choices. The ditching of internal combustion engines in favour of battery-power has allowed new car makers to enter the market. But rather than thinking like BMW or Ford, they are looking to firms like Apple for their inspiration.On this week’s podcast, hosts Mike Bird, Alice Fulwood and Tom Lee-Devlin examine the remaking of the auto industry. The Economist’s Simon Wright explains that software, rather than hardware, will define car brands in the future. Henrik Fisker, the founder of one of those new brands, tells them that a history of making petrol-powered cars doesn’t necessarily qualify established car makers to make electric vehicles. And advisor Tu Le explains why Western car makers are worried about competition from China.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: Is the car industry running out of gas?

Around a third of Americans now listen to at least one podcast a week. That fact has not escaped the attention of advertisers, who spent nearly $2bn on podcast ads last year. But with more than 4m podcasts for listeners to choose from, the industry is facing a reckoning. On this week’s podcast, hosts Tom Lee-Devlin and Mike Bird ask what the future holds for the business of podcasts. Michael Mignano, who used to manage Spotify’s podcasting arm, tells them that companies have realised they can be much leaner. And Nick Hilton, a podcast production company founder, explains why he thinks 2022 is the year when podcasting died.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: A business podcast on the business of podcasts

Time may be running short for TikTok. In the US, both Democrats and Republicans view the Chinese-owned app as a national security threat and would like to ban it. It’s practically the only policy issue that the two parties agree on. And yet the politicians in Washington DC have left it very late to act. TikTok has already reached 150 million users in the US, half the country’s population, and every day it adds more.  On this week’s podcast, hosts Alice Fulwood, Tom Lee-Devlin and Mike Bird look at whether the fears about TikTok are well grounded, and what the options are for addressing them. The Economist’s Alexandra Suich Bass explains why alternatives short of an outright ban have gone nowhere. China security analyst Matthew Johnson says his biggest concern is that Beijing could use the app to spread pro-Chinese propaganda. Meanwhile, Nazak Nikakhtar, a former secretary of the US Commerce Department, suggests a way of neutralising the app without upsetting users.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: Last dance for TikTok?

The professional services firm EY reportedly spent hundreds of millions of dollars preparing to split itself into separate audit and advisory companies. Then earlier this month it abruptly called the divorce off. EY is not unique. All of the "big four" accounting firms - including PwC, KPMG and Deloitte - combine the stodgy traditional business of audit with a fast-growing free-wheeling consultancy wing. On this week’s podcast, hosts Tom Lee-Devlin, Alice Fulwood and Mike Bird ask whether all four firms find themselves stuck in unhappy marriages. Professor Laura Empson of Bayes Business School retells how these one-time frumpy low-margin audit firms were beguiled by the glamour and big fees of corporate advisory work. Meanwhile Tom Rodenhauser, managing partner at Kennedy Research Reports, explains why the consulting units have now outgrown their auditing counterparts, and would do well to ditch them and go it alone.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: Why oh why EY?

Fans of the popular television show “Succession” have been gripped by the family battle to take control of the fictional patriarch Logan Roy’s sprawling media empire. But across Asia family businesses are worried about their own, very real, succession battles as a new generation of plutocrats look to take over from their fathers.On this week’s podcast, hosts Mike Bird, Alice Fulwood and Tom Lee-Devlin delve into the challenges facing some of Asia’s wealthiest families. Author, Joe Studwell, talks about some of the characters worrying about their legacy and Kevin Au from the Chinese University of Hong Kong explains how succession challenges can be overcome.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: Succession Asia

Video game makers used to look to Hollywood for their inspiration. But in recent years, the market for games has grown to nearly $200bn, five times more than people spend at the box office and more, even, than they spend on streaming services like Netflix or Disney+. And that has caught the attention of the movie industry, which is now looking to game makers for its ideas.On this week’s podcast, hosts Tom Lee-Devlin, Alice Fulwood and Mike Bird examine how gaming took over media. Bad Robot is one of the film and television production companies that has expanded into gaming. Tanya Watson, president of Bad Robot Games, explains what game makers can learn from cinematographers but also what she has to teach them. And former Spotify executive Nick Lightle discusses why it could take some time before the streamers take over gaming.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: Will video games eat Hollywood?

Hosts Alice Fulwood, Mike Bird and Tom Lee Devlin take to the road this week with a single aim: bring economics to life. The mission takes them to some unexpected corners of the world and forces them to don some interesting attire. Inspired by The Economist’s A-Z guide, Tom travels to one of the UK’s largest sandwich factories for a lesson in efficiency. Alice visit’s George Washington’s estate to understand how mercantilism made America the country it is today. And Mike learns how Singapore has overcome the limits of its sea border.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: The A to Z of economics

Few would have predicted that the demise of Silicon Valley Bank, a niche Californian lender, would be followed by the failure of Credit Suisse. But on March 19 the banking crisis reached Zurich, where regulators brokered a fire sale that saw the ailing 167-year-old bank sold to rival UBS.On this week’s podcast, hosts Alice Fulwood, Tom Lee-Devlin and Mike Bird chart the spread of the crisis and examine its fallout. Richard Berner, a former advisor to the Treasury Secretary, explains: “Silicon Valley Bank was not systemic in life, but proved to be systemic in death.” And Huw van Steenis, who used to advise the chief executive of UBS, explains how the crisis has roiled bond markets.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: Discredit Suisse

Until last week, most people beyond California and the tech world probably hadn’t heard of Silicon Valley Bank, but its swift collapse made headlines across the globe. On this week’s podcast, hosts Alice Fulwood, Tom Lee-Devlin and Mike Bird examine what brought the bank down and to what extent the panic has been contained–or might still be spreading. Peter Conti-Brown from University of Pennsylvania’s Wharton School says incompetence was behind the bank’s collapse. And former Treasury Secretary Larry Summers tells them the US government’s decision to guarantee deposits should be enough to restore confidence in the banks and prevent fear spreading.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: What went wrong at SVB?

Robots are getting better and cheaper—and that means they will play a much larger role in our lives. They are already reaching beyond the car plants and warehouses, where they have become commonplace, to turn their mechanised hands to making cocktails and cooking chicken. But what will that mean for the economy?On this week’s podcast, hosts Tom Lee-Devlin, Alice Fulwood and Mike Bird examine whether the rise of the machines is good for workers and hear from Korea, where there are more robots per factory worker than any other country on earth. Kim Povlsen, the boss of robot-maker Universal Robots, says greater automation is needed as populations age and labour shortages become increasingly severe. And Susanne Bieller from the International Federation of Robotics, a global industry group, gives a glimpse of what the future might have in store.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: The rise of the robots

China was the source of $1trn-worth of electronic goods and components in 2021, roughly a third of the global total. And it’s not just consumer electronics that begin their life in China. The country is the source of everything from childrens’ toys to medical equipment—it dominates the global supply chain. But manufacturers are increasingly looking elsewhere to make their products as China’s rising wages and growing tensions with the US make its factories less attractive than its neighbours.On this week’s podcast, hosts Mike Bird, Alice Fulwood and Tom Lee-Devlin look at Asia’s alternative manufacturing hubs. Manmohan Sodhi, professor of operations and supply chain management at Bayes business school in London, tells them that manufacturing requires more than just factories—it also needs universities, labs and designers. Former diplomat and trade negotiator Wendy Cutler, who is now vice president of the Asia Society Policy Institute, says today’s China-centric supply chain structure is no longer sustainable.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: Not made in China

The rise of Korea’s musicians from local celebrities to international superstars is credited to Lee Soo-man, the godfather of K-pop. The industry he developed gave rise to groups like BTS, which has been the biggest-selling band in the world for two years running. Now, Lee has sold most of his stake in SM Entertainment, the company he founded, to one of its biggest rivals.On this week’s podcast, hosts Mike Bird, Alice Fulwood and Tom Lee-Devlin delve into the world of K-pop and examine how the businesses making one of Korea's newest export industries operate. Author, Mark Russell, tells them how K-pop went global. Analyst, Bokyung Suh, breaks down the secret to its commercial success, and explains whether fans should fear a potential K-pop commercial monopoly.Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: Could K-pop become a monopoly?

Quantitative investors are known for their cool, mathematical approach to investing. They build models which search for patterns across huge data sets to discern where they should invest. The frenzied “bubble in everything” wrongfooted many quants in 2020–but the stock markets return to Earth, which crippled many traditional funds, generated huge returns for the quants in 2022. Nowhere was this clearer than in the performance of AQR Capital Management, a quant fund run by Cliff Asness. Its long-running strategy returned 43.5% last year, net of fees. On this week’s podcast, hosts Alice Fulwood, Tom Lee-Devlin and Mike Bird speak to Cliff Asness, the co-founder and chief investment officer of AQR, one of the world’s biggest quant fund managers. He tells them why he’s more open than his competitors and what still keeps him up at night. Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at www.economist.com/moneytalks  For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer Hosted on Acast. See acast.com/privacy for more information.

Money Talks: The king of quants

Our editors and correspondents give their authoritative take on the markets, the economy and the world of business. Published every Wednesday by Economist Podcasts. Hosted on Acast. See acast.com/privacy for more information.

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Money Talks from The Economist

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