Overheard in the newsroom

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There were plenty of big stories this week: the meltdown in relations between Canada and India, a pause in interest rate hikes in the US and UK, and a U-turn on net zero policies here in the UK.

But the story that lit up the newsroom came on Thursday, when Rupert Murdoch revealed he was stepping down as chair of Fox and News Corp and would be succeeded by his son Lachlan.

Immediately, everyone who has ever covered the media sector at the FT started making calls. Matthew Garrahan, one of those former media editors (he’s now head of digital platforms), wrote the first take as colleagues in London, New York and Los Angeles pitched in details

“Everyone was trying to put together a story,” said Garrahan. The big question: is this the end of the Rupert Murdoch era? “It’s a big moment, but it’s not the moment,” he predicted.

Nevertheless, as our team explained in yesterday’s analysis, the move will electrify Murdoch family politics. Just before the news broke, Garrahan was at a television conference in Cambridge, UK, where he ran into Elisabeth Murdoch, who is likely to be pivotal in shaping the future of the empire. “There could yet be more ructions to come,” predicted Garrahan.

Coming up next week

We have two new guest editors picking one article a day all the way through next week. Outside of FT Edit, actor Russell Tovey and gallerist Robert Diament are the hosts of Talk Art, the popular podcast featuring interviews with leading artists, curators and gallerists. Keep an eye out for their picks on fashion, interiors, photography and more.

Our favourite pieces

It’s not the biggest story of the week, but Madison Darbyshire’s quest to discover why people spend tens, or hundreds, of thousands of dollars on their mattress was a pure delight: a tumble down the rabbit hole into a world where beds are called “sleep instruments” and where show-offs only tuck the sheets into their mattress toppers so that everyone can see the brand they are sleeping on.
Malcolm Moore (@malcolmmoore)
Editor, FT Edit

This week brought us an eye-opening peek inside the much maligned world of consultancy. Post-pandemic and with the advent of AI, the $860bn industry is struggling to find its mojo. The FT spoke to hundreds of consultants around the world about their grievances — who doesn’t enjoy a bit of moaning about work?
Hannah Rock
Deputy editor, FT Edit (@HannahRockFT)

The US edition recently tested a daily news briefing over two weeks. We are often looking for new ways to grow our readership and experiments within the app allow us to test our hypotheses. If you were one of the lucky ones to see the daily news briefing, we’d love to speak with you about your experience. Register your interest in taking part in a video call with me or a team member by using this link. All participants receive $50 for their time.
Caryn Wilson
US editor, FT Edit (@CarynAWilson)

Something to listen to

Behind the Money — Here is the final part of our mini-series on Sergei Leontiev, a banker who was forced to flee Russia, where he is suspected of a massive fraud.

Unhedged — Just out in the US and soon to be released in the UK is Dumb Money, a movie about the incredible rise of Gamestop on the stock market. Here’s the FT’s review, complete with some nerdy notes on what the film gets wrong.

FT Weekend podcast — What makes a good dinner party? The FT’s Food and Drink editor Harriet Fitch Little shares her essential ingredients for hosting and having a good time.

Something to watch

Formula One has exploded in popularity in recent years, but there are very few women at the top of the sport. This FT film explores the launch of a new all-women championship, with the goal of producing the next generation of female drivers.