Category: 3. Business

Viking Holdings (VIK) just logged its highest quarterly Adjusted EBITDA on record, supported by strong advanced bookings and high utilization for 2025 and 2026. This performance puts its ROI focused growth strategy firmly in the spotlight.

See our latest analysis for Viking Holdings.

The market has taken notice of this momentum, with a roughly 54 percent year to date share price return and a 1 year total shareholder return of about 47 percent reinforcing the idea that confidence in Viking’s growth story is building rather than fading.

If Viking’s performance has you rethinking where growth could come from next, it might be worth exploring fast growing stocks with high insider ownership as another way to spot under the radar opportunities.

With the shares now hovering just below analyst targets and trading at a premium to some valuation models, the key question is whether Viking is still mispriced, presenting a buying opportunity, or if the market is already discounting its next leg of growth.

With the narrative fair value sitting just above Viking Holdings’ last close, the story hinges on whether today’s premium can power tomorrow’s earnings.

Consistent investment in standardized, modern, and energy-efficient fleet across ocean and river segments enables tight operational control, better shipyard pricing, and scalable cost efficiencies that are expected to support ongoing margin expansion and improved long-term profitability.

Read the complete narrative.

Want to see what kind of revenue engine and margin climb could justify this near premium pricing? The narrative leans on ambitious growth, disciplined profitability, and a future earnings multiple that might surprise you. Curious how those moving parts combine into a fair value just ahead of today’s price? Read on to unpack the full blueprint behind this call.

Result: Fair Value of $68.32 (ABOUT RIGHT)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, this outlook could be challenged if stricter environmental rules or sustained cost inflation squeeze margins faster than Viking’s efficiency gains can offset them.

Find out about the key risks to this Viking Holdings narrative.

Step away from narratives and the numbers look less forgiving. On a price to earnings basis, Viking trades around 32 times earnings, well above the US Hospitality average of 21.2 times and its own 37.1 times fair ratio anchor, leaving less room for error if growth stumbles.

See what the numbers say about this price — find out in our valuation breakdown.

If this perspective does not fully align with your own or you prefer digging into the numbers yourself, you can build a custom thesis in minutes: Do it your way.

A great starting point for your Viking Holdings research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include VIK.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Strong investment in energy infrastructure drove a 2.2% rise in energy jobs last year, nearly double the rate of employment growth for the wider global economy, according to a new IEA report, which highlights the dynamic trends across the sector as well as bottlenecks for skilled labour in key areas.

The World Energy Employment 2025 report released today finds that global energy sector employment reached 76 million people worldwide in 2024, up more than 5 million from 2019. The sector has contributed 2.4% of all net jobs created across the global economy over the past five years.

The power sector is leading the way on job creation, accounting for three-quarters of recent employment growth, and is now the largest employer in energy, overtaking fuel supply. Solar PV is a key driver of growth, complemented by rapid expansions in hiring in nuclear power, grids and storage. Increasing electrification of other sectors of the economy is also reshaping employment trends, with jobs in EV manufacturing and batteries surging by nearly 800,000 in 2024.

Fossil fuel employment remained resilient in 2024. Coal jobs rebounded in India, China and Indonesia, pushing employment in the coal industry 8% above its 2019 levels despite steep declines in advanced economies. The oil and gas industry has also regained most of the jobs lost in 2020, although low prices and economic uncertainties have triggered job cuts in 2025. Based on early data, energy employment growth is expected to moderate to 1.3% in 2025, reflecting persistently tight labour markets and heightened trade and geopolitical tensions that are making some firms more cautious about hiring.

Despite the strong recent performance of the overall energy sector, the report warns of deepening skilled labour shortages. Out of 700 energy-related companies, unions and training institutions participating in the IEA’s Energy Employment Survey, more than half of them reported critical hiring bottlenecks that threaten to slow the building of energy infrastructure, delay projects and raise system costs.

“Energy has been one of the strongest and most consistent engines of job creation in the global economy during a period marked by significant uncertainties,” said IEA Executive Director Fatih Birol. “But this momentum cannot be taken for granted. The world’s ability to build the energy infrastructure it needs depends on having enough skilled workers in place. Governments, industry and training institutions must come together to close the labour and skills gap. Left unaddressed, these shortages could slow progress, raise costs and weaken energy security.”

Applied technical roles such as electricians, pipefitters, line workers, plant operators and nuclear engineers are in especially short supply. These occupations alone have added 2.5 million positions since 2019 and now represent over half of the entire global energy workforce, more than double their share of total employment in the broader economy.

An ageing workforce is intensifying the pressure, with 2.4 energy workers in advanced economies nearing retirement for every new entrant under 25. Nuclear- and grid-related professions face some of the steepest demographic challenges, with retirements outnumbering new entrants by ratios of 1.7 and 1.4 to 1 respectively.

At the same time, the supply of newly qualified workers is not keeping pace with the sector’s needs. To prevent the skills gap from widening further by 2030, the number of new qualified entrants into the energy sector globally would need to rise by 40%. The report shows that this would require an additional $2.6 billion per year of investment globally, representing less than 0.1% of spending on education worldwide.

Policy measures can make a major difference. According to the IEA’s Energy Employment Survey, the main barriers preventing people from entering energy-related training include costs, foregone wages and limited awareness of available programmes. Effective policy tools include targeted financial incentives for learners, expanded apprenticeships, greater private-sector involvement in curriculum design, and investment in training facilities. Reskilling within the energy sector itself is also essential. Some regions already face declines in fossil fuel employment, but targeted retraining could help workers transfer into other parts of the energy system that are growing.

Grundon

Meta is shifting some of its investments in the metaverse to AI glasses and wearables, hoping to capitalise on the “momentum” in that segment, a company spokesperson has said.

Over the last decade, Meta has poured billions of dollars to build the metaverse, which lets people to interact in a virtual reality. However, the tech giant has struggled to convince investors of the viability of the nascent technology.

Bloomberg first reported on Thursday that Meta would cut its metaverse investment by as much as 30%. Its shares climbed more than 3.4% following the news.

The strategic shift to the Metaverse was the reason why Facebook changed its name to Meta in 2011.

“We aren’t planning any broader changes than that,” said Meta’s spokesperson, without commenting on whether the shift in investments will result in layoffs.

Now, the company is seeking to build on an early advantage on AI-enabled glasses, after the positive reception to the latest models launched in September.

The glasses feature a small display within the lens that can describe what it sees and even translate text. That feature is widely seen as a breakthrough that enhances the technology’s usefulness while making the design more compact.

Many players in the industry, including firms in China, have also joined the race to build smart glasses and wearable technology.

Meta has struggled in recent years to convince investors about the metaverse. Many have been sceptical over its vision for an immersive digital space and the demand for virtual reality (VR) headsets, which are key to that technology.

The company has invested heavily in such headsets and its metaverse platform, Horizon Worlds, where users can interact as avatars.

Demand for other technologies, especially artificial intelligence (AI), have also surged ahead while Meta prioritised the metaverse.

The firm has recently shifted its focus to building large AI models, like the software integrated into WhatsApp, and developing smart gadgets like its new glasses.

December 5, 2025

NTT DATA Group Corporation

TOKYO and LONDON, December 5, 2025 – NTT DATA, a global leader in AI, digital business and technology services, announced that it has been named a recipient of the Salesforce Partner Innovation Award in Automotive for delivering Agentic Enterprise Transformation in sales and customer experience using Agentforce and Salesforce platform.

NTT DATA announced that it has helped Volkswagen Group España Distribución transform its business by implementing Agentforce 360 for Automotive processes, including automated call summaries, email drafts, and case content summaries. These tools support agent productivity by providing quicker, more consistent, and higher-quality customer interactions.

Comments on the News

• “In collaboration with Salesforce, NTT DATA’s Smart AI Agent Ecosystem delivers innovative solutions that help clients overcome challenges and reach ambitious goals. This agreement drives growth, innovation, and business success” Minoru Umehara, Head of Consulting and Business Acceleration Headquarters, NTT DATA.
• “We are truly honored to receive this recognition from Salesforce. Moving forward, we remain committed to strengthening our collaboration and expanding our service portfolio, including innovative AI-driven solutions, to empower our clients’ business growth, value creation, and digital transformation” Joaquin Barrau, Partner, Head of CRM Solutions for the Iberia and LATAM regions, NTT DATA.
• “Thanks to automated summaries and real-time assistance, our teams resolve cases with greater quality and consistency, enhancing the experience across all channels.” Anna Sánchez, CIO and CDO, Volkswagen Group España Distribución.
• “Salesforce partners are helping customers build their digital labor with Agentforce and realize the full value of their agent implementations,” said Jim Steele, President, Global Strategic Customers and Partners, Salesforce. “The Salesforce 2025 Partner Innovation Awards recognize partners like NTT DATA that are driving agentic enterprise transformations for customers by delivering industry-specific Agentforce implementations and innovative agentic solutions.”

Agentic AI represents a $6-trillion dollar opportunity that Salesforce partners like NTT DATA are helping to drive by enabling agent-first businesses. By leveraging the full power of the Salesforce ecosystem to solve complex business challenges, innovate with new technologies, and drive customer transformation, NTT DATA is a prime example of a partner delivering creative solutions to help customers navigate their biggest hurdles.

The 13th annual Partner Innovation Awards recognize the significant contribution Salesforce partners have made through AI agent implementations, measurable Agentforce success stories, and the broader partner program – including consulting firms, digital agencies, resellers, and ISV partners. For a full list of this year’s Partner Innovation Award winners, please see here.

Salesforce, and others are among the trademarks of Salesforce, Inc.

About NTT DATA

NTT DATA is a $30+ billion business and technology services leader, serving 75% of the Fortune Global 100. We are committed to accelerating client success and positively impacting society through responsible innovation. We are one of the world’s leading AI and digital infrastructure providers, with unmatched capabilities in enterprise-scale AI, cloud, security, connectivity, data centers and application services. Our consulting and industry solutions help organizations and society move confidently and sustainably into the digital future. As a Global Top Employer, we have experts in more than 70 countries. We also offer clients access to a robust ecosystem of innovation centers as well as established and start-up partners. NTT DATA is part of NTT Group, which invests over $3 billion each year in R&D. Visit us at nttdata.com

There are some jobs human bodies just weren’t meant to do. Unloading trucks and shipping containers is a repetitive, grueling task — and a big reason warehouse injury rates are more than twice the national average.

The Pickle Robot Company wants its machines to do the heavy lifting. The company’s one-armed robots autonomously unload trailers, picking up boxes weighing up to 50 pounds and placing them onto onboard conveyor belts for warehouses of all types.

The company name, an homage to The Apple Computer Company, hints at the ambitions of founders AJ Meyer ’09, Ariana Eisenstein ’15, SM ’16, and Dan Paluska ’97, SM ’00. The founders want to make the company the technology leader for supply chain automation.

The company’s unloading robots combine generative AI and machine-learning algorithms with sensors, cameras, and machine-vision software to navigate new environments on day one and improve performance over time. Much of the company’s hardware is adapted from industrial partners. You may recognize the arm, for instance, from car manufacturing lines — though you may not have seen it in bright pickle-green.

The company is already working with customers like UPS, Ryobi Tools, and Yusen Logistics to take a load off warehouse workers, freeing them to solve other supply chain bottlenecks in the process.

“Humans are really good edge-case problem solvers, and robots are not,” Paluska says. “How can the robot, which is really good at the brute force, repetitive tasks, interact with humans to solve more problems? Human bodies and minds are so adaptable, the way we sense and respond to the environment is so adaptable, and robots aren’t going to replace that anytime soon. But there’s so much drudgery we can get rid of.”

Finding problems for robots

Meyer and Eisenstein majored in computer science and electrical engineering at MIT, but they didn’t work together until after graduation, when Meyer started the technology consultancy Leaf Labs, which specializes in building embedded computer systems for things like robots, cars, and satellites.

“A bunch of friends from MIT ran that shop,” Meyer recalls, noting it’s still running today. “Ari worked there, Dan consulted there, and we worked on some big projects. We were the primary software and digital design team behind Project Ara, a smartphone for Google, and we worked on a bunch of interesting government projects. It was really a lifestyle company for MIT kids. But 10 years go by, and we thought, ‘We didn’t get into this to do consulting. We got into this to do robots.’”

When Meyer graduated in 2009, problems like robot dexterity seemed insurmountable. By 2018, the rise of algorithmic approaches like neural networks had brought huge advances to robotic manipulation and navigation.

To figure out what problem to solve with robots, the founders talked to people in industries as diverse as agriculture, food prep, and hospitality. At some point, they started visiting logistics warehouses, bringing a stopwatch to see how long it took workers to complete different tasks.

“In 2018, we went to a UPS warehouse and watched 15 guys unloading trucks during a winter night shift,” Meyer recalls. “We spoke to everyone, and not a single person had worked there for more than 90 days. We asked, ‘Why not?’ They laughed at us. They said, ‘Have you tried to do this job before?’”

It turns out warehouse turnover is one of the industry’s biggest problems, limiting productivity as managers constantly grapple with hiring, onboarding, and training.

The founders raised a seed funding round and built robots that could sort boxes because it was an easier problem that allowed them to work with technology like grippers and barcode scanners. Their robots eventually worked, but the company wasn’t growing fast enough to be profitable. Worse yet, the founders were having trouble raising money.

“We were desperately low on funds,” Meyer recalls. “So we thought, ‘Why spend our last dollar on a warm-up task?’”

With money dwindling, the founders built a proof-of-concept robot that could unload trucks reliably for about 20 seconds at a time and posted a video of it on YouTube. Hundreds of potential customers reached out. The interest was enough to get investors back on board to keep the company alive.

The company piloted its first unloading system for a year with a customer in the desert of California, sparing human workers from unloading shipping containers that can reach temperatures up to 130 degrees in the summer. It has since scaled deployments with multiple customers and gained traction among third-party logistics centers across the U.S.

The company’s robotic arm is made by the German industrial robotics giant KUKA. The robots are mounted on a custom mobile base with an onboard computing systems so they can navigate to docks and adjust their positions inside trailers autonomously while lifting. The end of each arm features a suction gripper that clings to packages and moves them to the onboard conveyor belt.

The company’s robots can pick up boxes ranging in size from 5-inch cubes to 24-by-30 inch boxes. The robots can unload anywhere from 400 to 1,500 cases per hour depending on size and weight. The company fine tunes pre-trained generative AI models and uses a number of smaller models to ensure the robot runs smoothly in every setting.

The company is also developing a software platform it can integrate with third-party hardware, from humanoid robots to autonomous forklifts.

“Our immediate product roadmap is load and unload,” Meyer says. “But we’re also hoping to connect these third-party platforms. Other companies are also trying to connect robots. What does it mean for the robot unloading a truck to talk to the robot palletizing, or for the forklift to talk to the inventory drone? Can they do the job faster? I think there’s a big network coming in which we need to orchestrate the robots and the automation across the entire supply chain, from the mines to the factories to your front door.”

“Why not us?”

The Pickle Robot Company employs about 130 people in its office in Charlestown, Massachusetts, where a standard — if green — office gives way to a warehouse where its robots can be seen loading boxes onto conveyor belts alongside human workers and manufacturing lines.

This summer, Pickle will be ramping up production of a new version of its system, with further plans to begin designing a two-armed robot sometime after that.

“My supervisor at Leaf Labs once told me ‘No one knows what they’re doing, so why not us?’” Eisenstein says. “I carry that with me all the time. I’ve been very lucky to be able to work with so many talented, experienced people in my career. They all bring their own skill sets and understanding. That’s a massive opportunity — and it’s the only way something as hard as what we’re doing is going to work.”

Moving forward, the company sees many other robot-shaped problems for its machines.

“We didn’t start out by saying, ‘Let’s load and unload a truck,’” Meyers says. “We said, ‘What does it take to make a great robot business?’ Unloading trucks is the first chapter. Now we’ve built a platform to make the next robot that helps with more jobs, starting in logistics but then ultimately in manufacturing, retail, and hopefully the entire supply chain.”

This is an audio transcript of the FT News Briefing podcast episode: ‘Big Four maintains stranglehold on UK audits’

Marc Filippino
Good morning from the Financial Times. Today is Friday, December 5th, and this is your FT News Briefing. The Big Four auditors continue to reign supreme in the UK. Plus, higher interest rates in Japan are doing interesting things to currency trades and the bond market. I’m Marc Filippino, and here’s the news you need to start your day.

[MUSIC PLAYING]

Big Four accounting firms continue to dominate the UK’s largest audits. That’s according to the industry watchdog, the Financial Reporting Council. So what does the stranglehold mean for the rest of the market? The FT’s accountancy correspondent Ellesheva Kissin reported on this and joins me now. Hi, Ellesheva.

Ellesheva Kissin
Hi. 

Marc Filippino
So this report from the Financial Reporting Council, what did it find? 

Ellesheva Kissin
So it found that non-Big Four firms had increased their share of audits for public interest entities by one percentage point, but that’s pretty small for an entire year of effort from the regulator. So the Big Four accounting firms, Deloitte, EY, KPMG and PwC, they’ve maintained a stranglehold on major audits for years. They took 98 per cent, with the fees paid by the FTSE 350 this year. Smaller firms really struggle to break into that market, partly because it’s more hazardous, they’re more difficult, complex audits, and partly because major companies prefer to have the big brand of a Big Four firm doing their audits for them.

Marc Filippino
And why is this a big deal? I mean, they are called the Big Four for a reason, right? 

Ellesheva Kissin
Having just four firms do all the major audits for the FTSE 350 is a problem, because when you have too few firms, the issue is what happens if one of those firms goes bust or something happens? There have been efforts by regulators and successive governments to try and change the state of affairs. We’ve seen an audit reform bill from the previous government, in this government, which was trying to introduce more competition into the audit marketplace, and we’ve seen regulators calling for change successively.

Marc Filippino
But based on this report from the Financial Reporting Council, those efforts haven’t worked.

Ellesheva Kissin
Those efforts haven’t worked well, no. The Big Four still keep their share of audits of large listed companies. The only change that we really see year on year is the Big Four shuffling positions within themselves, so KPMG used to be bottom and now EY is bottom in terms of FTSE 350 audit fees.

Marc Filippino
So is there anything these smaller firms can do to drum up more business in the UK or are they always going to be overshadowed by the Big Four?

Ellesheva Kissin
Well, it’s tricky because some of the smaller firms don’t want to do that type of work, because as soon as you engage with more high profile audits, you are opening the door to much more regulatory criticism. Grant Thornton, for example, is a major mid firm in the UK. It cut its number of public interest clients by about 70 per cent, between 2016 and 2022, largely because of that more rigorous supervision.

There’s also the problem that most major clients wouldn’t really look outside of the Big Four for an auditor. HSBC, for example in 2021, it needed to rotate its auditor ’cause there are rules that regulate that type of thing. And it basically had four choices, and it was really difficult to find a new auditor because of conflicts, which meant that HSBC couldn’t easily hire some of the Big Four firms as its auditor if they were doing consulting work for them, so that’s another tricky thing. 

Marc Filippino
So it sounds like it’s very unlikely that these types of firms will be anywhere near the Big Four anytime soon?

Ellesheva Kissin
The FRC is trying to coach small firms by reducing the inspections and permissions that they need in order to do so. So you know, the regulator is trying to help them move their way up, but yeah, it doesn’t look likely anytime soon. 

Marc Filippino
That’s the FT’s Ellesheva Kissin. Thanks, Ellesheva. 

Ellesheva Kissin
Thank you.

[MUSIC PLAYING]

Marc Filippino
US Senators are trying to block sales of advanced Nvidia chips to China. A bipartisan bill introduced in Congress late yesterday looks to make it harder for Beijing to acquire American artificial intelligence technology. The Secure and Feasible Exports Chips Act would block tech giant Nvidia from selling its most advanced Blackwell and H200 chips to China. It would also require the commerce secretary to deny export licenses for advanced chips to China for 2.5 years. One Republican who co-sponsored the bill said that denying China these chips was essential to keep its lead in the artificial intelligence race. The move comes as the White House weighs whether to allow Nvidia to export those H200 chips. US officials say the Trump administration did not plan to enact new export controls on China for the time being.

[MUSIC PLAYING]

Japanese bond yields rose to their highest level since 2007 yesterday. Investors are bracing themselves for an interest rate increase. This is all a reversal of how things used to work in Japan, and it’s looking like the country’s economic normalisation could actually hurt bond markets in the rest of the world. Here to explain why is the FT’s Elettra Ardissino. Hi, Elettra.

Elettra Ardissino
Hi, Marc.

Marc Filippino
So can you give us a sense of what Japan’s economy and monetary policy used to look like and how bond and currency traders behaved as a result? 

Elettra Ardissino
Yeah, sure. For many years the Bank of Japan kept short-term interest rates very low and even negative, and so the net effect of that was that bond yields across the yield curve were just very low. That kind of created two different effects. The first was that Japanese institutional investors that need yield income, like pension funds, had to go look for that abroad. And second, investors were also able to start borrowing cheaply in yen and then investing in higher yielding assets abroad. And that is known as the carry trade. And both these dynamics were enabled by the fact that Japan had very low interest rates. 

Marc Filippino
All right, let’s break this investor behaviour down into two parts. The ‘yen carry trade’, and domestic bond investor behaviour. Let’s start with the carry trade. How is that changing right now? 

Elettra Ardissino
Well, I would say that the carry trade needs a high differential in the cost of borrowing between two different currencies, and so what you’re seeing now is that that’s slightly breaking down. On the BoJ side, governor Kazuo Ueda has recently hinted that the Bank of Japan is on course to deliver another interest rate increase soon, potentially as soon as the December meeting. While on the Fed side, there have been suggestions that the FOMC is on course to deliver an interest rate cut at its December meeting, and so that’s narrowing the rate differential between Japan and the US, and all other things equal, that makes the carry trade less lucrative for traders.

Marc Filippino
And then what about domestic bond investors? What changes could they be making? 

Elettra Ardissino
So one other effect of the Bank of Japan’s interest rate increases over the past few years has been that the yield curve has returned to normality in the sense that yields are now higher across the different maturities, and they’re also higher for longer-dated maturities. Now that has led some market participants to posit that domestic investors may be on course to repatriate their capital back home. The thinking goes, no longer need to be in foreign bond markets, they can bring their money back to take advantage of the higher yields domestically. Now, if that happens, that could be potentially a problem for the foreign bond markets that have a big Japanese investor footprint, such as the UK, France and it would increase government’s borrowing costs further. 

Marc Filippino
Is there anything that might prevent this from happening? 

Elettra Ardissino
Yeah, there’s a couple of reasons why that might not happen, at least immediately. Some Japanese institutional investors have very long asset allocation plans, so to some extent institutional investors’ money is locked in to foreign bond markets for the longer term. There is also another reason: the Takaichi administration’s fiscal plans so far have been a little bit unnerving for markets as a whole. We’ve seen that she intends to increase deficit spending. Japan is a very indebted economy already, and so we’ve seen that the yen has sold off at the same time as yields have increased, and that is a combination of moves that usually tells you that investors are losing confidence in a country’s assets. And so, as far as Japanese domestic investors are concerned, they might be worried if they bring their money back home, they might be exposed to losses if this happens again.

Marc Filippino
Elettra Ardissino is a reporter for the FT’s Monetary Policy Radar. Thanks, Elettra. 

Elettra Ardissino
Thank you.

[MUSIC PLAYING]

Marc Filippino
Hope you’re not fed up with US central bank chat after this week, because we’ve got just a little more for you before we go. My colleague, Victoria Craig, who hosts the Monday edition of the briefing is here to preview the week ahead, including the Federal Reserve. Hey, Victoria.

Victoria Craig
Hey, Marc.

Marc Filippino
So if we look at our Fed bingo card, we’ve talked this week about the timing for the announcement of the next Fed chair and Wall Street’s jitters over that frontrunner, Kevin Hassett. What can we cross off next week? 

Victoria Craig
Yeah, well, pop the caps off those ink stamps, Marc, because we’ve got the last Fed decision of the year that is on tap Wednesday, and nothing is really certain, but expectations are for another rate cut in December, and that’s despite a persistent lack of data that we’ve talked about lots on the show because of the government shutdown. We did get a little trickle of fresh data this week, and that included weekly jobless claims, which fell to the lowest level in three years. We did also hear from New York Fed President John Williams the week before last, who expressed his support for another rate cut. So that makes a small majority of the Fed’s rate-setting committee that seems ready to move the benchmark rate lower, heading into the new year. 

Marc Filippino
The Fed, though, isn’t providing us with the only central bank action next week. What else is lined up Victoria? 

Victoria Craig
Yep, that’s right. So in addition to the rate decision here, we also have decisions in Brazil, Canada and in Turkey. And for some bonus content, we’ve got a central banker trifecta at the FT Global Boardroom event next week. The governors of the Banks of Japan and England, as well as the European Central Bank are gonna be in conversation with our colleague Martin Wolf. If any of our listeners are keen to join, you can still register for that event online. Of course, as always, we will pop a link to that in our show notes. 

Marc Filippino
Yes, we’ll be watching that with great interest.

Victoria Craig
Overwhelming interest.

Marc Filippino
(Laughter) Thanks, Victoria. 

Victoria Craig
Thanks, Marc. 

Marc Filippino
You can read more on all these stories for free when you click the links in our show notes. This has been your daily FT News Briefing. Check back next week for the latest business news.

The FT News Briefing was produced this week by Nisha Patel, Victoria Craig, Sonja Hutson and Fiona Symon. I’m your host and editor, Marc Filippino. Our show is mixed by Alex Higgins, Kent Militzer and Kelly Gary. We had help this week from Peter Barber, Michael Lello, Gavin Kallmann and David da Silva. Our acting co-head of audio is Topher Forhecz, and our theme song is by Metaphor Music.