China deals a blow to Blackstone’s ambitions

Read a transcript of this episode on FT.com

https://www.ft.com/content/24c2b733-9dca-4dcf-81d2-ca90583a3ac9

US consumer prices in August rose at a more moderate pace in a sign that inflationary pressures associated with the end of Covid-19 lockdowns are easing, and bank executives say consumer spending is outpacing pre-pandemic levels as shoppers shrug off the Delta variant, and Blackstone abandoned a large deal in China after Beijing’s antitrust regulators refused to sign off on it within the agreed time frame, and big Chinese cities suspended land auctions in response to rules aimed at lowering housing prices.

Pace of US consumer price rises cools slightly in August

https://www.ft.com/content/eaf6d095-1531-4458-a504-c110d4101469

US consumers still spending despite Delta risk, banks say

https://www.ft.com/content/5189f544-c7ff-4564-8b46-1fb74b70dfd5

Blackstone drops $3bn takeover of property developer Soho China

https://www.ft.com/content/b732381e-61ea-4bab-8260-5048ff737047

Chinese land auction blunder undercuts Xi’s inequality crusade

https://www.ft.com/content/40187a8f-9776-4036-91ca-665b44cec086?

Call of the great outdoors fades for advertisers during muted commuting

https://www.ft.com/content/037b6d79-b9e9-4dc1-8224-413a7f613332

The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.

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