Eurozone economists warn the European Central Bank has been too slow to cut interest rates, and US Steel faces a bleak outlook after President Biden’s decision to block its sale. UK businesses plan price increases as the Budget drives up costs, and CrowdStrike has more than recovered the $30bn in market value it shed last year. Plus, China’s movie theatres are in crisis.

Mentioned in this podcast:

ECB has been too slow to cut rates, Eurozone economists warn

Joe Biden blocks Nippon Steel’s $15bn takeover of US Steel

UK businesses plan price increases as Budget drives up costs

CrowdStrike bounces back after triggering largest IT outage in history

China’s box office takings drop by a quarter as viewers turn to streaming

The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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What’s next for US Steel?

FT News Briefing