Some of the leading names in the US peer-to-peer lending industry have been hit by governance problems as well as a withdrawal of some of the big institutional investors. Martin Arnold, FT banking editor, asks Rhydian Lewis, chief executive of UK-based RateSetter, whether the bubble is bursting and how the US model differs from its UK counterpart. Music by Kevin MacLeod

 

Martin Arnold and guests discuss whether the US peer-to-peer bubble is bursting, rights issues in Europe, and the failings of US bank regulation.

 

The boss of Gunvor, one of the world’s biggest oil traders, has awarded himself a bumper $1bn dividend to sever his ties to a former Russian business partner who is the subject of US sanctions. Neil Hume, FT commodities editor, tells Emiko Terazono the story

 

With Jim Pickard, Robert Shrimsley and John Burn-Murdoch from the Financial Times, plus Matt Singh from Number Crunch Politics. Presented by Sebastian Payne.

 

As inequality grows, welfare costs soar and technological disruption escalates, many people are growing warmer to the idea of a guaranteed basic income for everyone, say John Thornhill and Ralph Atkins. Switzerland, which votes on the UBI in June, is not the only country considering a new social model

 

Written in a log cabin when Bon Iver had all but given up, “Skinny Love” was an unlikely pop hit. Richard Clayton investigates its rise, from covers by Birdy and Ed Sheeran to X Factor hopefuls the world over.

Credit: 4AD, Atlantic, Elle, Sunbiz Sessions, X Factor

 

Guy Debelle, assistant governor at the Reserve Bank of Australia, discusses with Cardiff Garcia and Matt Klein how decisions by the Federal Reserve have an effect on Australian monetary policy (and how they don’t), Australia’s experience with capital account liberalisation, fluctuations in the Chinese economy, and the foreign exchange code of conduct from the Bank of International Settlements.

 

A fall in the yuan’s daily fix to a five-year low has the market wondering whether China is heading for another bout of currency devaluation jitters. Paul McNamara of GAM tells Roger Blitz that a strong dollar is bound to cause problems for China, but not on the scale of previous episodes of FX volatility.

 

US-backed forces this week launched an attack on Raqqa in Syria, close to the de facto capital of the Islamic State, as the Iraqi government launched its own attack on Fallujah. Siona Jenkins asks the FT’s Middle East correspondent Erika Solomon if the two assaults on Isis-held territory were related.

 

Will another report criticising Hillary Clinton’s use of a private email server haunt her presidential campaign? Why is Bernie Sanders sticking out the rest of the Democratic race? The FT’s Demetri Sevastopulo and Courtney Weaver discuss this and more from Washington, D.C. Clips courtesy of Reuters.