Ping An requires HSBC break-up

Description: Turkish authorities have raised the strain on the nation’s banks to restrict company shoppers’ purchases of overseas foreign money, US client costs rose at an annual tempo of 8.3 per cent final month, and the EU should spend near €200bn within the subsequent 5 years to safe power independence from Russia. Plus, the FT’s Tabby Kinder explains why HSBC’s largest shareholder is pressuring the financial institution to separate up. 

Talked about on this podcast:

Turkey dials up the pressure on banks as lira slides

US inflation stays at 40-year high defying expectations of bigger drop

EU warns of €195bn cost to free bloc from Russian energy

Peter Ma: China’s shy insurance tycoon bursts into the limelight

Saudi Aramco overtakes Apple as the world’s most valuable company

The FT Information Briefing is produced by Fiona Symon and Marc Filippino. The present’s editor is Jess Smith. Extra assist by Peter Barber, Michael Lello, David da Silva, and Gavin Kallmann. The present’s theme music is by Metaphor Music. Topher Forhecz is the FT’s government producer. The FT’s world head of audio is Cheryl Brumley. 

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