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FT News Briefing
A rundown of the most important global business stories you need to know for the coming day, from the newsroom of the Financial Times. Available every weekday morning.
12 hours ago
Europe eases lockdowns for holidays, G20 on Covid-19 vaccines, China’s crackdown on misconduct
European policymakers are preparing to relax Covid-19 lockdowns and “save Christmas”, G20 leaders pledged to “spare no effort” to ensure global access to Covid-19 vaccines, and Beijing has warned it will show “zero tolerance” for financial misconduct after several high-profile bond defaults by state-owned companies. Plus, the FT’s Peggy Hollinger explains how investors are handling Brexit. European nations plan cautious easing of lockdowns for Christmas https://www.ft.com/content/5068cfce-a2fa-4d85-9078-d1a1cd89c316 G20 leaders pledge to ensure global access to Covid vaccines https://www.ft.com/content/5f5e5a8c-1b94-438f-8f10-212126883e6c Beijing promises crackdown on misconduct after bond defaults ft.com/content/21af2731-0042-458c-9651-365459fa1e74? See acast.com/privacy for privacy and opt-out information.
3 days ago
WHO cautions against remdesivir, wildfires and wine, Venezuelan oil as a stranded asset
The World Health Organization has recommended that doctors do not prescribe Gilead's remdesivir to patients in hospital with coronavirus, US Treasury secretary Steven Mnuchin has decided against extending several of the Federal Reserve’s emergency lending facilities, and online wine retailer, Naked Wines, has said that worsening wildfires are becoming a challenge for the industry. Plus, the FT’s Michael Stott explains why Venezuelan oil could become the world’s biggest stranded asset. WHO recommends against prescribing remdesivir to Covid patients ft.com/content/cc8d2fc7-f7e9-441e-a33c-94b8f82ce110? US Treasury says no to extending some of Fed’s crisis-fighting tool https://www.ft.com/content/e4b3a063-db44-4e6c-b998-74a29d70b136? Wildfires pose threat to industry, warns Naked Wines https://www.ft.com/content/55daaf65-b233-47b8-b24a-b38b1b93f0f0 Venezuelan oil could become world’s biggest stranded asset, say experts https://www.ft.com/content/cafbd3c7-2434-4f23-8da8-1f7052efdc8e See acast.com/privacy for privacy and opt-out information.
4 days ago
EU auditor: Brussels too slow to tame Big Tech, FAA clears Boeing 737 Max, Johnson’s green economy
A new report from the EU’s external auditor has found Brussels failed to tame Big Tech because it moved too slowly, the US Federal Aviation Administration issues an order on Wednesday allowing Boeing’s 737 Max to fly again, and Wall Street analysts expect the arrival of a coronavirus vaccine will send the dollar sinking next year. Plus, the FT’s environment correspondent, Leslie Hook, explains why critics say Boris Johnson’s plan for a green economy falls short. EU has been too slow to tame Big Tech, says bloc’s auditor ft.com/content/abb8ebe1-99e1-4547-8c42-df265bf5125c? US regulator clears Boeing’s 737 Max to fly again https://www.ft.com/content/43bb3ab1-598d-4ee3-a83b-ea0c22f08d4a Vaccine arrival expected to trigger dollar slump in 2021 ft.com/content/d2a226b8-574a-4d1c-9205-fa076ed97055? Boris Johnson’s green plan a ‘far cry’ from hitting net zero targets ft.com/content/dbd944e6-48a2-42d7-829e-ae1d64616bfc See acast.com/privacy for privacy and opt-out information.
5 days ago
G20 nears funding boost for low-income countries, Amazon online pharmacy, FSB report
Saudi Arabia’s finance minister says the world’s richest countries are close to unlocking additional IMF funds for low-income nations, Amazon has launched an online delivery service offering big discounts for prescription medicine in the US, and Unilever is aiming to increase its annual sales of plant-based meat and dairy alternatives to €1bn in five to seven years. Plus, the FT’s US markets reporter, Colby Smith, explains why the Financial Stability Board is pinning hedge funds with some of the blame for the US Treasury market chaos in March. G20 nearing IMF funding boost for developing nations, Saudi minister says ft.com/content/f211194f-5c19-4ab1-b47f-a4d6caa88f36? Amazon launches online pharmacy in challenge to traditional retailers https://www.ft.com/content/f45c4956-108f-4b69-b115-c73cfc55f0e3 Unilever aims for €1bn sales from plant-based products by 2027 ft.com/content/0a1e5e3d-a34d-44bb-a350-75f3e8700673? Hedge funds under scrutiny over role in March bond market ructions https://www.ft.com/content/5bab4156-54fd-41ab-b067-794c3050c8cd See acast.com/privacy for privacy and opt-out information.
6 days ago
Biden’s coronavirus warning, Airbnb readies for IPO, Saudi Aramco bonds
US president-elect Joe Biden has warned that the country’s ability to handle Covid-19 could be hampered if Donald Trump does not allow a smooth transition of power, AirBnB published the prospectus for its long-awaited stock market listing on Monday, and the secretary general of the Basel committee of regulators has argued that shareholder payouts should remain on hold until the long-term impact of the pandemic is clear. Plus, the FT’s senior energy correspondent, Anjli Raval explains why Saudi Aramco is heading to the international bond market. Biden warns ‘more people may die’ if Trump refuses to co-ordinate ft.com/content/ee58360a-eca8-47aa-ac86-3665e918539a Airbnb woos investors with return to profit ahead of IPO ft.com/content/5f8aa041-3d1b-43f4-94fb-57a0639bfc76? Bank regulator calls for dividends to remain on hold ft.com/content/cd06ce1a-65cd-4543-8f80-cf1d577f0c68?edit=true Saudi Aramco to sell billions of dollars in international bonds https://www.ft.com/content/c10dcb3b-89cf-4fc4-a1b2-bd434f79258b Lawsuit tracker: Trump’s battle faces tough test this week https://www.ft.com/content/20b114b5-5419-493b-9923-a918a2527931 See acast.com/privacy for privacy and opt-out information.
Nov 16, 2020
UK’s weak household spending, Asia-Pacific trade deal, Biden’s Brexit impact
A Financial Times analysis has found the UK’s weakness in international economic league tables during the coronavirus crisis reflects stretched household finances and potentially wasteful public spending, leaders from 15 Asia-Pacific countries have signed one of the biggest trade deals in history, and US banks are concerned over one of their most profitable business segments as consumers pay down their credit cards. Plus, the FT’s Arthur Beesley explains how US president-elect Joe Biden’s Irish roots could affect Ireland’s Brexit outlook. UK’s poor GDP performance rooted in weak household spending ft.com/content/c5d72dea-50bc-4f1f-98d3-bc758aafa905? US surge in coronavirus cases darkens outlook for economy https://www.ft.com/content/f3a4f31b-85bc-450f-ac7a-f7dbbad3f6dc Asia-Pacific countries sign one of the largest free trade deals in history https://www.ft.com/content/2dff91bd-ceeb-4567-9f9f-c50b7876adce Bank credit card profits in question as US consumers pay down debt https://www.ft.com/content/fe591579-2202-45f1-8c83-a7e7dd1200c4 See acast.com/privacy for privacy and opt-out information.
Nov 13, 2020
Palantir sales growth cheers Wall Street, Poland threatens EU budget, Denmark mink culling
Data analytics company, Palantir, beat Wall Street forecasts in its first quarterly earnings since going public, the US Senate is preparing to vote on Judy Shelton, Donald Trump’s nominee to the Federal Reserve board, and Poland’s prime minister warns that his country’s parliament could shoot down the EU’s next seven-year budget. Plus, the FT’s Nordic and Baltic correspondent, Richard Milne, explains why Denmark is backtracking on its order to kill millions of mink. Palantir sales growth cheers Wall Street in debut earnings https://www.ft.com/content/9fdbf565-8be3-4972-8f8f-4cad3dda5101 Senate prepares to vote on Trump’s Fed board nominee Judy Shelton https://www.ft.com/content/4c146684-b364-4966-849a-acfcd7bd9ded Poland threatens EU budget over linking funding to rule of law https://www.ft.com/content/d8dfda2c-a811-4749-9bf2-3a0dde626fed? Denmark’s mink farmers count cost of botched cull https://www.ft.com/content/9e518316-6422-41f3-8873-8a75754b2eef See acast.com/privacy for privacy and opt-out information.
Nov 12, 2020
Key aide to Boris Johnson quits, ECB set to expand help, TikTok deadline, Turkish lira
Boris Johnson’s director of communications resigned on Wednesday night following a bitter Downing Street power struggle, the European Central Bank will keep financing costs exceptionally favourable in the eurozone until the economy recovers from the pandemic, and TikTok wrestles with its US divestment deadline. Plus, the FT’s Laura Pitel explains how Turkey hopes to boost its economy despite an overhaul of the country’s economic management. Key Johnson aide quits in Downing St power struggle https://www.ft.com/content/2c431395-021b-471d-878c-3ab342304745 ECB set to expand bond-buying and cheap loans, Lagarde signals https://www.ft.com/content/3fc692fe-a79d-447f-9dec-42c171dc9a53? TikTok challenges Trump order ahead of US divestment deadline https://www.ft.com/content/218bccaf-6b74-475c-a374-9a0a89ca3d29 Turkey’s Erdogan vows to win ‘trust’ of investors after lira plunge https://www.ft.com/content/fc0be85d-eba8-4172-9d38-d8b6f5fa0e8e See acast.com/privacy for privacy and opt-out information.
Nov 11, 2020
Trump’s resistance, Lyft weighs delivery business, EU hits Amazon with antitrust charges
Republicans have grown more assertive in giving cover to Donald Trump’s false claims that the US presidential election was stolen from him, Lyft has said it was in the “early days” of building a delivery business to take on Uber Eats and others, SoftBank is considering moving its Vision Fund unit to Abu Dhabi, and the European Union is hitting Amazon with antitrust charges. Plus, the FT’s Leila Abboud explains why European small shopkeepers are frustrated with the latest set of coronavirus lockdowns. As Joe Biden’s margin of victory grows, so does Republican resistance https://www.ft.com/content/d0c09d30-6f1c-4978-bbb7-44e1f93e9a39 Lyft weighs getting into delivery business as it works to bounce back ft.com/content/b340f34e-d16a-4388-99cf-eacb00df8389 SoftBank’s Vision Fund unit considers move to Abu Dhabi from UK https://www.ft.com/content/22eddefb-adab-4188-9de7-33533f6d571e EU accuses Amazon of breaching antitrust rules https://www.ft.com/content/4908995d-5ba4-4e14-a863-bcb8858e8bd2 Europe’s shopkeepers on the warpath over lockdowns https://www.ft.com/content/3fc8ba69-9a2c-4f19-ac79-ce310c8d6507 See acast.com/privacy for privacy and opt-out information.
Nov 10, 2020
Covid vaccine lifts stocks, Nikola’s legal bills pile up, India takes aim at Google
A breakthrough in the race to find a vaccine for Covid-19 fuelled a broad global equity rally on Monday. The FT’s Joe Miller explains what this means for managing the pandemic. Plus, India’s competition watchdog has ordered an in-depth investigation into the tight links between Google’s mobile app store and its payment service, and electric truck start-up Nikola has acknowledged for the first time that it is under investigation by the US Department of Justice in the wake of fraud allegations. Pfizer and BioNTech’s Covid-19 vaccine found to be 90% effective https://www.ft.com/content/9bde4bff-acf0-4c2a-a0d0-5ed597186496 Nikola reveals escalating legal bill after fraud claims https://www.ft.com/content/51c9de3f-7e08-4740-8a50-4f301d8ca9ae India’s competition watchdog orders Google investigation https://www.ft.com/content/f0709021-0fdb-4f0a-a85e-c807ab364ebe See acast.com/privacy for privacy and opt-out information.
Nov 9, 2020
Biden looks to unite Democrats, future of UK-US trade, Westfield threatens tenants
President-elect Joe Biden will face a power struggle between liberal and progressive Democrats, and how will a Biden administration handle a trade deal between the US and the UK? The FT’s Sebastian Payne and Aime Williams explain how the internal market bill plays an important role. Plus, shopping centre landlord Westfield is threatening tenants with legal action over unpaid rents. Biden faces power struggle between Democratic progressives and moderates https://www.ft.com/content/e922ddea-6665-4231-89a3-ffdbfd0fc009 Westfield threatens chains including Pret over rent arrears https://www.ft.com/content/40596f51-cef7-41b7-a36f-cddebb870be5 Lords defeat of Brexit bill will put government on track for Biden clash https://www.ft.com/content/874ef7b6-91f9-4f5e-b2ae-5a3def68e250 See acast.com/privacy for privacy and opt-out information.
Nov 6, 2020
Biden edges towards victory, Bank of England stimulus, Uber earnings miss
Joe Biden edged closer to a presidential victory on Thursday night while Donald Trump claimed without evidence that the Democrats were trying to “steal” the election. Plus, the Federal Reserve kept monetary policy steady, the Bank of England took more robust measures as the UK entered a second coronavirus lockdown, and Uber missed Wall Street’s expectations on earnings in the third quarter despite reporting an uptick in its ride-sharing business. Donald Trump calls for vote counting to stop as US awaits result https://www.ft.com/content/b922453a-166c-446f-a50e-6727309b8375 Federal Reserve keeps monetary policy steady as Covid cases rise https://www.ft.com/content/3b577f14-c638-4536-aeb0-f63508e7e295 Bank of England launches £150bn stimulus to boost consumer spending https://www.ft.com/content/18ade542-d2a9-438a-ba5c-37b51475993b Uber and Lyft in driving seat to remake US labour laws https://www.ft.com/content/78e619f4-fabe-4077-a51a-491e24492263 Uber claws back busine…
Nov 5, 2020
Biden holds lead over Trump, US leaves Paris climate agreement
Joe Biden won Wisconsin and Michigan on Wednesday in two critical victories that boosted his chances of winning the presidential election while the Trump campaign launched lawsuits to delay vote counting. Meanwhile, investors are now changing course after Democrats missed an opportunity for a blue wave. Plus, the FT’s environment correspondent, Leslie Hook, explains how the outcome of the election is crucial for global efforts to tackle climate change. Biden boosted by Wisconsin and Michigan wins as count drags on https://www.ft.com/content/874f4401-aa3f-46c0-b4ca-2d06066c1f7e Investors hold their poise in face of knife-edge US election result https://www.ft.com/content/732afbb8-af6f-4bfa-9cd2-e7dab82873af US formally withdraws from Paris climate agreement https://www.ft.com/content/54f600e0-183f-41fd-8d4b-69ab4403e331 See acast.com/privacy for privacy and opt-out information.
Nov 4, 2020
US ballot count continues, Ant IPO stalls
The US presidential election appeared to be headed towards prolonged uncertainty as critical battlegrounds continued to count mail-in ballots. The FT’s Peter Spiegel reports on the early morning results, and Andrew Edgecliffe-Johnson explains what it means for business. Plus, China has suspended the $37bn listing of Ant Group, which had been set to become the world’s largest IPO. Our Asia capital markets correspondent, Hudson Lockett, explains what happened. Follow the FT’s US election coverage https://www.ft.com/us-presidential-election-2020 Trump’s corporate trouble: CEOs keep their distance from the party of business https://www.ft.com/content/f74f00db-decc-4fb2-8c86-e95dd0b0d42e China halts $37bn Ant Group IPO, citing ‘major issues’ https://www.ft.com/content/c1ee03d4-f22e-4514-af46-2f8423a6842e See acast.com/privacy for privacy and opt-out information.
Nov 3, 2020
US election day voting, investors eye the candidates, Nvidia-Arm China deal in trouble
US election day begins as Americans brace themselves for what could be a drawn-out result, Nvidia’s $40bn deal for the UK-based chip designer Arm is facing fresh problems in China, and Volkswagen will be within only “a gram or so” of tough new EU carbon emission limits. Plus, the FT’s US capital markets correspondent, Richard Henderson, explains which policies from Mr Trump and Joe Biden are most appealing to investors. Democrats fight back as Trump pledges to challenge result in court https://www.ft.com/content/fd0ed792-2945-48a1-a896-efd0ecc7586f Trump vs Biden: 4 policy plans US stock investors are watching https://www.ft.com/content/4930af61-c51a-4782-a1cd-a0cd1a9a0cde?shareType=nongift Battle at Arm China threatens $40bn Nvidia deal ft.com/content/49889c43-70b8-45d7-b0b0-44e98d3bf89f? Volkswagen within ‘a gram’ of compliance with EU carbon targets ft.com/content/b8751714-fe99-4cd6-9935-2fb4ad9929f4? See acast.com/privacy for privacy and opt-out informati…
Nov 2, 2020
Eurozone economic forecast sinks, UK businesses plea support, aerospace and Brexit
Fresh lockdowns in Europe announced have triggered a flurry of downgrades to economic growth forecasts, and UK business leaders have called for more financial help from the government to support crisis-hit companies. Plus, the FT’s Peggy Hollinger explains how Brexit will affect an already hard hit aerospace industry. Eurozone economic forecasts slashed as fresh lockdowns imposed https://www.ft.com/content/3269f590-1cac-411f-8320-110c91c1f12e Business seeks state support as it faces England lockdown https://www.ft.com/content/adfebb62-2f01-4c4a-bdc6-8bf8ff621850 See acast.com/privacy for privacy and opt-out information.
Oct 30, 2020
Big tech earnings, US economic data, early voters pour in for US presidential election
Big tech companies reported mixed earnings for the most recent quarter, and Donald Trump is pointing to strong third-quarter GDP days before the US presidential election. Plus, the FT’s Washington Bureau chief Demetri Sevastopulo explains how early votes could affect election day. Google ad sales bounce back sharply from pandemic slump https://www.ft.com/content/07c22dcb-9747-4bd3-a01c-bb51d6e9e9bb Donald Trump touts economy to boost re-election bid https://www.ft.com/content/dbe15063-8955-42e2-a757-b8d9b4bd9c60 Early voting surge points to huge turnout in US election https://www.ft.com/content/8d8fa717-8923-4223-af75-bd6d31d25d9a See acast.com/privacy for privacy and opt-out information.
Oct 29, 2020
European lockdowns worry investors, China’s Five-Year plan
Stocks in Europe and the US dropped on Wednesday as Germany and France re-entered lockdowns to slow the spread of coronavirus. The FT’s Michael Peel explains how the European Commission is handling the latest wave of the virus. Plus, investors worry about its spread in Europe and the US, and China’s leadership discusses the country’s next Five-Year Plan. Germany and France impose fresh curbs to slow Covid-19 spread https://www.ft.com/content/cc928df5-8c4f-4b16-b5e8-78547069c9d5 US stocks close down 3.5% as Covid concern mounts https://www.ft.com/content/617f7ad3-6831-4e47-b66a-3efccd1972a6 Chinese leadership meets to set policy direction for next 5 years https://www.ft.com/content/91b74acd-15fc-402a-9644-3c662d3ba04c See acast.com/privacy for privacy and opt-out information.
Oct 28, 2020
Apple search, LVMH and Tiffany talk, social media testimony
Apple is stepping up efforts to develop its own search technology, Boris Johnson’s plan to flout international law over Brexit is set to be blocked by the House of Lords, LVMH is in talks to renegotiate its $16.6bn takeover of US jeweller Tiffany. Plus, the FT’s Kiran Stacey will explain why US Senators are going after big social media groups ahead of the US presidential election. Apple developing alternative to Google search ft.com/content/fd311801-e863-41fe-82cf-3d98c4c47e26 Boris Johnson faces Brexit defeat at key moment ft.com/content/807e1c15-7632-4a42-adc7-562ffc57e232? Zuckerberg backs reform of legal protections for social media https://www.ft.com/content/9e9b8a33-74af-4a42-9c6f-1e24958de46c? See acast.com/privacy for privacy and opt-out information.
Oct 27, 2020
US stocks drop on Monday on coronavirus fears, European banks, Alibaba’s push into grocery delivery
US stocks on Monday notched their biggest one-day drop in a month on fears that rising coronavirus infections will dampen business activity, and European banks get a lift from equities revenue. Plus, the FT’s China corporate tech reporter, Ryan McMorrow, explains how Alibaba is making a push into a crowded grocery delivery field. Alibaba to pay $3.6bn to take control of Chinese supermarket chain Sun Art https://www.ft.com/content/fb6dee7d-704e-444e-aa7f-32969296fb51 US stocks have worst day in a month as virus cases hit a record https://www.ft.com/content/770938ee-c511-4332-968c-c290dd89cc33 Barclays recovers as bad debt charges fall https://www.ft.com/content/8374dd0e-87c1-4b58-8c29-5cc4f45d3960 UBS pledges to boost payouts as pandemic impact diminishes https://www.ft.com/content/10005024-87dc-41b8-abc4-728261b34bf0 See acast.com/privacy for privacy and opt-out information.
Oct 26, 2020
EU member states hesitate on recovery fund loans, upbeat Oxford vaccine trials, Brexit borders
Pandemic-struck EU member states are worried about debt and are hesitant to reach for recovery fund loans, and a Covid-19 vaccine trial out of the University of Oxford and AstraZeneca has shown promise in a recent trial. Plus, the FT’s Peter Foster and Judith Evans explain what kind of complications will occur at the UK border after the Brexit transition period ends. Italy and Spain introduce new pandemic measures ft.com/content/8d14f560-427c-451f-90df-8b464901d190 EU capitals hesitate over recover fund loans ft.com/content/1621a33b-b05e-4b2d-b6d1-862a0455c1b9? Astrazeneca Oxford Covid vaccine trials offer hope for the elderly ft.com/content/b15446e5-66f7-4e6a-947a-1b638769ff79? British sausage makers face EU freeze after Brexit https://www.ft.com/content/a6b205e4-6171-4995-80d8-3f19b42d340a Private jets take off as wealthy flyers seek to avoid virus https://www.ft.com/content/17282807-ab86-4333-b6c2-b8128f87fd4f See acast.com/privacy for privacy and opt-out informa…
Oct 23, 2020
Final US presidential debate, FDA approves remdesivir, Intel data hit by pandemic
Donald Trump and his Democratic challenger, Joe Biden, clashed over issues from the pandemic to foreign policy in their final presidential election debate. Then, the FT’s Demetri Sevastopulo will explain why local races in Texas and around the US could dictate the political make-up of the country for years to come. Plus, Gilead has received the first US regulatory approval for a Covid-19 drug, and Intel reported a decline in data centre revenues and said its earnings fell by nearly a quarter from a year ago due to the pandemic. Donald Trump and Joe Biden clash over coronavirus in final debate https://www.ft.com/content/bef48683-9bde-4ac2-8906-797779593b22 Gilead secures FDA approval for remdesivir https://www.ft.com/content/07a321de-109b-46aa-99bc-f884e0ed7703 See acast.com/privacy for privacy and opt-out information.
Oct 22, 2020
US intelligence election warning, Apollo hit by Leon Black’s Epstein ties, report from Lagos
The US director of national intelligence has warned that Iran and Russia are attempting to influence American voters before the November 3 US election, Tesla delivered a fifth straight quarterly profit in the three months to the end of September, and one of the biggest US public pension funds has frozen new investments with Apollo Global Management over concerns regarding Leon Black’s connections to Jeffrey Epstein. Plus, the FT’s West Africa bureau chief,Neil Munshi, reports on the violent crackdown by security forces on peaceful demonstrators in Lagos. US official warns of Iranian and Russian election interference ft.com/content/82d92abf-2dd2-4fb6-8d0a-1f12f7aedcb4 Tesla delivers its fifth straight quarterly profit https://www.ft.com/content/e782cac4-cbdf-4d39-986e-8b7b7971de1d Apollo investor halts new commitments over Leon Black’s Epstein ties https://www.ft.com/content/7aa15cae-0baf-488b-8713-c4dc29bf193c Violent crackdown on Nigerian protests prompts outrage htt…
Oct 21, 2020
Snap Inc rises on advertising, US Department of Justice takes on Google, big tech regulation
Snap posted record revenues and attracted the highest-ever number of advertisers to its platform in the third quarter, and the US Department of Justice has accused Google of suppressing competition in internet search. Plus, the FT’s west coast editor, Richard Waters, explains how the US and Europe are handling the regulation of big tech in very different ways. Netflix subscriber growth slows as lockdown boost fades https://www.ft.com/content/de870037-4859-4660-87c8-b6bba656bd02 Snap reaps the benefits of Facebook boycott fallout ft.com/content/cb762955-10bb-4d1e-bfb3-87c4ecf9d915? US election: Facebook’s political balancing act https://www.ft.com/content/ebbf9be3-307b-4fdd-a582-069099e3096c Nick Clegg: Europe should tear down digital walls not build new ones https://www.ft.com/content/98cf847c-96f9-4558-9a30-7d72ea4e79c2 See acast.com/privacy for privacy and opt-out information.
Oct 20, 2020
Stimulus uncertainty, Conoco-Concho deal, China’s semiconductor push
US stocks slid on Monday as a deadline on US stimulus talks looms and coronavirus cases continue to rise, and ConocoPhillips is betting on a post-pandemic oil recovery with its plans to buy Concho Resources for $9.7bn. Plus, the FT’s greater China correspondent, Kathrin Hille, explains why Chinese companies of all stripes are rushing into the country’s semiconductor industry. US stocks slide as stimulus deadline looms https://www.ft.com/content/6c0fd8ae-618e-42e9-8537-b6f6a4558ac2 ConocoPhillips to buy rival Concho in $9.7bn deal https://www.ft.com/content/1da54146-244a-4e42-a90d-415298db3866 Chinese groups go from fish to chips in new ‘Great Leap Forward’ https://www.ft.com/content/46edd2b2-1734-47da-8e77-21854ca5b212 See acast.com/privacy for privacy and opt-out information.
Oct 19, 2020
European double-dip recession concerns, Sunak dangles lockdown money, Brexit market
Economists worry rising coronavirus infections and fresh government restrictions will cut short the region’s recent recovery, and UK chancellor Rishi Sunak is preparing to release tens of millions of pounds to end a coronavirus restriction deadlock with leaders in Greater Manchester. Plus, investors are keeping a close eye on sterling as the Brexit transition period nears the end. The FT’s Katie Martin will take a look at Brexit’s impact on sterling and the markets. Europe’s economy is sliding towards a double-dip recession https://www.ft.com/content/700355e2-362c-4f9f-a24e-ddc9f6ea9cb0 Sunak ready to release ‘tens of millions’ to secure Manchester Covid deal https://www.ft.com/content/68e8e775-e69c-492c-bef2-a1c2863f5167 See acast.com/privacy for privacy and opt-out information.
Oct 16, 2020
Remdesivir and Covid-19 deaths, Johnson set to force no deal, suburbanites in US election
The World Health Organization has found the Covid-19 treatment remdesivir does little to prevent deaths and Boris Johnson could push Brexit talks into crisis on Friday. Plus, the FT’s Washington bureau chief Demetri Sevastopulo explains why suburban women might be the key to victory when it comes to the US presidential election. Remdesivir has little effect on Covid-19 mortality, WHO study says https://www.ft.com/content/ee9b611f-2b4b-4572-afe1-b0b804d17a94 Summit ‘atmospherics not good’ as Brussels seen as dragging its feet on trade deal https://www.ft.com/content/252d3ea4-0ddf-498b-b993-59c13b0de004 See acast.com/privacy for privacy and opt-out information.
Oct 15, 2020
Investors unimpressed by US bank earnings, Paris and The Hague team up on EU tech, Amazon logistics
France and the Netherlands jointly issued a call for the bloc’s competition authorities to take pre-emptive measures against big tech companies, and investors have been unimpressed by recent US bank earnings despite lower loan loss provisions. Plus, the FT’s Dave Lee explains whether Amazon will be able to handle the logistical hurdles thrown its way this holiday season. Falling interest rates drag on Bank of America and Wells Fargo profits https://www.ft.com/content/8b8a4bec-6d28-462e-a18f-73b4856e1fc7 Amazon braces for winter of demand with relentless expansion https://www.ft.com/content/9cd8038e-b38c-40d6-b2db-8f6e01cd166a? France and Netherlands join forces to back EU move against tech giants ft.com/content/4a9ed79e-c8c8-4b47-8055-1cd029541c32 See acast.com/privacy for privacy and opt-out information.
Oct 14, 2020
WTO Boeing-Airbus ruling, IMF’s warning, short-sellers target pandemic winners
The EU has been given the green light to hit almost $4bn of US goods with punitive tariffs in retaliation for illegal state aid to Boeing, and the IMF said the coronavirus crisis will wreak “lasting damage” on people’s living standards across the world. Plus, some hedge funds are betting that the best days for the stock market’s coronavirus winners are in the past. EU given green light to hit US with tariffs in Airbus-Boeing ruling https://www.ft.com/content/3198d2ef-c3bb-44b9-a1e0-b27d9c1483de Pandemic will cause ‘lasting damage’ to living standards, IMF warns https://www.ft.com/content/8b286455-d9ed-42a9-b933-5a1d3f4f08b2 Hedge fund short sellers target pandemic winners ft.com/content/0a14e904-5fac-41bd-a9b4-a8a588db15c5? Apple enters the 5G market with new line of iPhones https://www.ft.com/content/eac7ed4b-5fb4-4f0e-944d-f5f61300bd12 See acast.com/privacy for privacy and opt-out information.
Oct 13, 2020
US equities taking election polling to heart, US banks kick off earnings season, UK lockdowns
US stocks built on last week’s rally with investors assessing US presidential election polls that show a strong lead for former vice-president Joe Biden, and unemployment looks set to hit the UK’s youth the hardest with the country’s economy facing a sharp slowdown. Plus, the FT’s US finance editor, Rob Armstrong, explains why US banks might suddenly be hoping for a Democratic wave and what their most recent earnings could look like. Wall Street rallies as angst over contested US election wanes https://www.ft.com/content/1dcbbed2-6d9e-4898-98bf-00e98a19eb5b Five things to watch in US bank earnings season https://www.ft.com/content/2604ab01-c562-4601-a8d6-921825a9e4ae UK’s youth count the cost of the Covid pandemic ft.com/content/1220ba66-de09-4507-8616-ef112cd2c109? Samuel Brittan, economics editor, 1933-2020 https://www.ft.com/content/b763bf06-3fc2-4e95-9fe6-a17acf3d8f3b See acast.com/privacy for privacy and opt-out information.
Oct 12, 2020
EU targets Big Tech with ‘hit list’, EM countries call for ambitious debt relief, EU countries on Brexit progress
EU regulators are drawing up a “hit list” of up to 20 large internet companies that will be subject to new and far more stringent rules, and government ministers of poor and indebted nations plead for more ambitious debt relief programmes. Plus, FT’s Brexit editor David Bond speaks with Sam Fleming and Victor Mallet about how European countries are viewing the progress of Brexit talks. EU targets Big Tech with ‘hit list’ facing tougher rules ft.com/content/c8c5d5dc-cb99-4b1f-a8dd-5957b57a7783? Emerging economies plead for more ambitious debt relief programmes ft.com/content/edb18d34-844b-43b5-a78a-fec73f1d0583? See acast.com/privacy for privacy and opt-out information.
Oct 9, 2020
A new cold war, whiskey in days
Tensions between Washington and Beijing reflect a shift in how America views Asia’s superpower. We'll look at how both Joe Biden and Donald Trump are handling China in the presidential campaign. Plus, why a Silicon Valley start-up has decided to disrupt whiskey. How the US elite became hawks on Xi’s China https://www.ft.com/content/75ce186e-41f7-4a9c-bff9-0f502c81e456 Silicon Valley start-up launches ‘Nespresso machine’ for whisky https://www.ft.com/content/3926e3bf-352b-4c47-8acb-d9b47dfa11cb See acast.com/privacy for privacy and opt-out information.
Oct 8, 2020
Lilly Covid drug, Vatican derivatives, UK mining corruption probe
Eli Lilly, a US drugmaker, has applied for an emergency authorisation of its Covid-19 antibody in the US. According to documents seen by the Financial Times, the Vatican invested donations for the needy in derivatives that bet on the creditworthiness of Hertz. And the FBI picks up the case of two men found dead in a hotel room in Missouri; British prosecutors had seen the men as potential witnesses in a corruption probe into the multibillion-dollar mining house, Eurasian Natural Resources Corporation. Lilly seeks emergency approval for Covid drug https://www.ft.com/content/dc7d2abf-1cd2-40db-b040-27b3d9031e8b Vatican used charity funds to buy Hertz credit derivatives https://www.ft.com/content/f966e8b4-945a-45d0-8391-a305b3d8f7f5 Silent witnesses: what do three corpses have to do with a corruption case? https://www.ft.com/content/7dc13ec9-721c-41a7-8423-daeb9a743e9a See acast.com/privacy for privacy and opt-out information.
Oct 7, 2020
US stimulus talks end, Macy’s buys stake in Swedish fintech
Donald Trump abruptly broke off talks with congressional Democrats on a new fiscal stimulus package until after next month’s presidential election, and economists estimate the coronavirus pandemic has put millions more workers across the developed world out of jobs than official unemployment statistics suggest. Plus, why US department store chain Macy’s is set to take a stake in Europe’s highest valued private fintech. Trump calls off stimulus talks https://www.ft.com/content/9f130c9c-fb1e-4d05-8864-1c8ac08c54bb Hidden joblessness threatens economic recovery in US and Europe https://www.ft.com/content/ec3d88dc-0dc1-4f6e-adf7-37e8f4316a22 Macy’s takes stake in Klarna as part of payment partnership https://www.ft.com/content/c2a26072-8c45-4ce3-9249-bd5b856bbe1c See acast.com/privacy for privacy and opt-out information.
Oct 6, 2020
Trump returns to White House, a fight over lithium batteries
Donald Trump returned to the White House on Monday evening after three days of hospital treatment for coronavirus, although his doctor warned that the president was not yet “out of the woods”. Plus, the IMF is instructing rich countries to spend on infrastructure, and a court case over trade secrets between two South Korean companies could affect the future of electric cars in the United States. Donald Trump returns to White House after three days in hospital https://www.ft.com/content/4909a63c-8f7d-4621-9fba-73b5dac2ee5c IMF calls on rich nations to boost public investment https://www.ft.com/content/fc7ad858-0fdd-401e-bce5-796a8353ba30 Stakes are high in bitter battle over battery secrets https://www.ft.com/content/98678ea4-7eba-4873-8815-47b0efe7c9df See acast.com/privacy for privacy and opt-out information.
Oct 5, 2020
Trump’s Covid-19 case prompts questions, financial services in a post-Brexit world
Donald Trump’s doctors said the president could be discharged from hospital today, after a weekend of mixed messages from the White House concerning Mr Trump’s health. Plus, the FT’s Brexit editor, David Bond, talks with the FT trading room editor Philip Stafford about what financial services will look like after Brexit. Trump’s doctor says he could be out of hospital on Monday https://www.ft.com/content/f331c9b9-6f2b-4cd5-831c-00cc10929940 Brexit and the City: Brussels’ new battle to rival London in finance https://www.ft.com/content/dd7e6828-f603-47bf-bdd7-61e9dcb5f9ac Brussels’ next financial policy chief warns of Brexit frictions https://www.ft.com/content/d80ccc42-9156-4f9f-a103-6a8faa33014b See acast.com/privacy for privacy and opt-out information.
Oct 2, 2020
Trump tests positive for Covid-19, EU sues UK over internal market bill, Trump & Biden compete over Ohio
Donald Trump and his wife Melania have tested positive for Covid-19 and will start quarantine barely a month before the US presidential election, US personal income dropped by 2.7 per cent in August after the lapse of emergency unemployment benefits, and Brussels is suing the UK over plans to violate last year’s Brexit withdrawal agreement. Plus, the FT’s Washington bureau chief Demetri Sevastopulo explains why Ohio might be the key to the US presidential election. US personal income falls after lapse of Covid benefits https://www.ft.com/content/314c74e3-984c-4bde-bb03-8a05622be305 Brussels launches legal action against UK over Brexit deal breach https://www.ft.com/content/8389cc9c-3ced-47f1-a85e-710ad20468a2 The battle for Ohio: Trump tries to retain edge with working class https://www.ft.com/content/8d3e2e6f-3f40-4d1c-905f-b2dd416d055d Biden vs Trump: who is leading the 2020 US election polls? https://ig.ft.com/us-election-2020/ Playboy returns to public markets thro…
Oct 1, 2020
Moderna CEO: no vaccine before US election, digitising Japan’s economy, west’s gold investment
Moderna Therapeutics’s chief executive told the Financial Times that the company would not have a vaccine ready before the US election, and Japan adjusts for a digital economy. Plus, the FT’s metals and mining correspondent, Henry Sanderson, explains how western investors’ interest in gold is driving up its price. Moderna chief says its vaccine won’t be ready before US election https://www.ft.com/content/9b242ecc-3dce-4534-9171-cdf624468a2a Japan’s digital leap forward — and about time too https://www.ft.com/content/5b8c7ee3-2981-4446-92af-6a8499302210 The new gold rush: western investors offset soft eastern demand https://www.ft.com/content/8a53dbaf-8210-4c60-8753-e3018fa1b1e1 See acast.com/privacy for privacy and opt-out information.
Sep 30, 2020
US presidential debate recap, EY’s Wirecard warning, JPMorgan spoofing settlement
The first presidential debate quickly turned chaotic, and JPMorgan Chase will have to pay $920m in the largest ever spoofing settlement. Plus, the FT’s Olaf Storbeck uncovers that EY was made aware of potential wrongdoing at Wirecard as far back as 2016. Joe Biden and Donald Trump clash in ill-mannered presidential debate https://www.ft.com/content/c77fa4ff-3278-4258-9033-8b62adcdbba5 EY whistleblower warned of Wirecard fraud four years before collapse ft.com/content/3b9afceb-eaeb-4dc6-8a5e-b9bc0b16959d? JPMorgan to pay $920m in largest-ever spoofing settlement https://www.ft.com/content/f2c918c2-2659-4513-8851-cc40379d4840 See acast.com/privacy for privacy and opt-out information.
Sep 29, 2020
Monday’s global equity market rebound, US voter suppression, 60/40 portfolio
European stocks lead a global rally on Monday driven by investors scooping up shares in beaten-down sectors, and Donald Trump is beating back allegations of tax avoidance and voter suppression ahead of tonight’s US presidential debate. Plus, the FT’s Michael MacKenzie will explain why investors are rethinking the traditional 60/40 portfolio. Financials lead global equity market rebound https://www.ft.com/content/f189b5b1-1e08-4ff1-9994-f1c89d9c1a79 Biden portrays Trump as tax dodger after new revelations https://www.ft.com/content/68c6f5a0-2080-4f60-8dec-9043a590c838 Investors wonder if the 60/40 portfolio has a future https://www.ft.com/content/fdb793a4-712e-477f-9a81-7f67aefda21a See acast.com/privacy for privacy and opt-out information.
Sep 28, 2020
Argentina bonds back in hot water, Swiss immigration vote, Scottish independence
Argentina’s newly restructured dollar bonds have slumped in value less than a month after a deal was finalised to postpone debt payments, and Swiss voters have defeated a nationalist initiative to tear up their free-movement agreement with Brussels. Plus, the FT’s Mure Dickie explains how Scotland’s push for independence is influencing Brexit talks. Argentina bonds ‘back in hot water’ just weeks after restructuring deal ft.com/content/fd786d9b-18b4-4ed3-a531-6af3d2eb5c24? Nicola Sturgeon revives plans for second Scottish independence vote https://www.ft.com/content/0f0ecf40-f30a-482e-9902-d74276bdc43f Swiss voters reject nationalist proposal to curb immigration ft.com/content/5a642ce6-1a76-460c-9857-b880b0fb7bc0 See acast.com/privacy for privacy and opt-out information.
Sep 25, 2020
US Supreme Court nomination, Trump will not commit to a peaceful transition of power
The FT’s DC bureau chief Demetri Sevastopulo explains the politics behind Donald Trump’s soon to be revealed Supreme Court justice nominee. Plus, why Donald Trump will not commit to a peaceful transition of power and a preview of next week’s first presidential debate between Trump and Democratic nominee Joe Biden How Trump’s Supreme Court pick could reshape law on abortion and guns https://www.ft.com/content/de654768-67f5-482d-893b-24107b45113b Donald Trump steps up fight over Supreme Court nominee https://www.ft.com/content/a08b21d4-3745-4aa2-83de-04a06013d026 See acast.com/privacy for privacy and opt-out information.
Sep 24, 2020
EU to crack down on sweetheart corporate tax deals, TikTok injunction, Turkey central bank
Brussels steps up its campaign against sweetheart corporate tax deals in the EU, TikTok has asked a federal judge to prevent the Trump administration from blocking downloads of the video-sharing app, and the pandemic caused workers around the globe to lose more than $3.5tn of income. Plus, Turkey’s lira is struggling despite the government’s best efforts to lift the currency. The FT’s Laura Pitel explains if the country’s central bank can do anything about it. Brussels ready to clamp down on sweetheart corporate tax deals ft.com/content/7c156756-57a1-4554-af78-d795a41d13f9?edit=true TikTok requests injunction against ban deadline https://www.ft.com/content/e8c5cb67-f16b-4790-8617-f142f4dc013a Pandemic knocks a tenth off incomes of workers worldwide https://www.ft.com/content/fabd4737-fa29-45ca-ad62-1b04c71d7b6a Lira sinks even as Turkey spends billions of dollars to prop it up https://www.ft.com/content/737b5d1a-64d0-4e2d-8ca1-e7bcd4ff4487 See acast.com/privacy fo…
Sep 23, 2020
Advertisers call truce with Facebook, coronavirus job toll, BoE on negative rates in near future
Facebook, YouTube and Twitter have reached a deal with big advertisers on harmful content, the Covid-19 pandemic will destroy at least 100m jobs worldwide this year and the Bank of England rules out negative interest rates in the near future. Plus, the FT’s Brussels bureau chief, Sam Fleming, explains how the European Union is preparing its financial centers once the UK leaves the bloc. Advertisers strike deal with Facebook and YouTube on harmful content ft.com/content/d7957f86-760b-468b-88ec-aead6a558902? Andrew Bailey rules out UK negative rates in near future https://www.ft.com/content/ecc4a23d-f175-41e9-8f07-852dbe03d062 Brexit and the City: Brussels’ new battle to rival London in finance https://www.ft.com/content/dd7e6828-f603-47bf-bdd7-61e9dcb5f9ac See acast.com/privacy for privacy and opt-out information.
Sep 22, 2020
Stocks dive on Monday, Tiffany gets speedy trial, Tesla’s annual stockholder meeting
Global stocks suffered a heavy hit on Monday in a rush of nerves about potential new Covid-19 lockdowns, and LVMH’s attempt to walk away from its $16.6bn takeover of Tiffany will go to trial in January. Plus, the FT’s Richard Waters will explain what is in store for Tesla’s Battery Day today and whether the car company can fight off the competition. Global stocks sink on fears of new Covid lockdowns https://www.ft.com/content/7da536fa-1e96-461c-8172-4aa6c5a8fa8e Tiffany gets speedy trial over LVMH’s bid to ditch takeover deal ft.com/content/e7b7f86b-28c7-4cec-a282-7e8dee63e425? Beyond the market hype: Tesla tries to expand its lead in batteries https://www.ft.com/content/2e5731a1-c7ac-4f3e-ba0a-d9bae5b7fa67 See acast.com/privacy for privacy and opt-out information.
Sep 21, 2020
UK weighs new lockdown, ECB measures bond buying program, Trump on Chinese tech
Rishi Sunak is set to extend the Treasury’s UK-wide programme of business support loans ahead of what’s expected to be a challenging winter for Covid-19, the European Central Bank has launched a sweeping review of its main pandemic crisis-fighting tool, and Donald Trump has said that the new Oracle-ByteDance partnership will finance a “patriotic” education fund. Plus, the FT’s US energy editor Derek Brower will explain whether the poisoning of Russian activist Alexei Navalny will affect the completion of the Nord Stream 2 pipeline. Sunak to extend business support loans as Covid-19 spread worsens ft.com/content/dfdff1fd-503a-4231-812f-40be4cc4c2b7? ECB to review flagship bond-buying tool in fighting Covid crisis https://www.ft.com/content/8ff55eff-ed3a-49db-b26a-2f49fa7822d4 Doubts surround ‘education fund’ at heart of US TikTok deal https://www.ft.com/content/4a9bb9aa-45e3-43b2-9759-3313751ffc8b EU gas groups exposed as pipeline politics threaten Nord Stream 2 h…
Sep 18, 2020
ByteDance pledges TikTok IPO, Mulvaney on Brexit, Biden tries to win with Latino voters
ByteDance has agreed to list TikTok on a US stock market at some point after its proposed partnership deal with American software group Oracle, and Donald Trump ’s special envoy to Northern Ireland has warned against creating a “hard border by accident”. Plus, the FT’s Demetri Sevastopulo explains why Democratic US presidential nominee Joe Biden is struggling with Latino voters. ByteDance proposes US IPO for TikTok to woo White House https://www.ft.com/content/8d2c74d6-d742-4fa9-b7cf-5af9bb85af6b Trump’s Northern Ireland envoy issues border warning ft.com/content/e71b7301-4b35-4a13-bee2-f9446b438e05 Biden struggles to close enthusiasm gap with Latino voters ft.com/content/a8d65f78-6656-4ed5-a908-695a8be54f48 See acast.com/privacy for privacy and opt-out information.
Sep 17, 2020
Fed eyes low rates until 2023, Trump calls for stimulus, Snowflake IPO
The Federal Reserve projects no interest rate increases until at least the end of 2023, and US President Donald Trump has urged Senate Republicans to increase the size of their stimulus proposal. Plus, the FT’s Miles Kruppa explains the excitement behind cloud computing company Snowflake's initial public offering. Fed signals rock-bottom rates until at least end of 2023 https://www.ft.com/content/827302da-4257-4bbc-a0fa-9bc98f65d661 Trump nudges Republicans to increase economic stimulus offer https://www.ft.com/content/e7228443-36ad-4fe9-aa2c-2d0ddefda12b Snowflake doubles in first trades after largest-ever software IPO https://www.ft.com/content/eb8e37c9-b4a5-4b4c-a3cf-2eeac98a8f2b See acast.com/privacy for privacy and opt-out information.
Sep 16, 2020
TikTok set to become standalone US company, central banks preview, Nikola fights off fraud claims
ByteDance will place TikTok’s global business in a new US-headquartered company with Oracle investing as a minority shareholder, FedEx delivered a forecast-beating fiscal first quarter on the back of strong demand for international shipping, and investors will look to the Federal Reserve’s policy-setting committee today for more detail on the central bank’s new inflation policy. Plus, the FT’s motor industry correspondent, Peter Campbell, explains how truckmaker start-up Nikola is defending itself after a short seller’s report claimed the business was an “intricate fraud”. TikTok set to become a standalone US company to satisfy White House https://www.ft.com/content/58eb7c26-2154-477f-af19-19157ae29261 FedEx results deliver as pandemic drives ecommerce boom https://www.ft.com/content/86e2dc79-e662-3d6f-8252-4ff5fe979fdd#post-54430 US Justice Department inquires into Nikola fraud claims https://www.ft.com/content/a45a6638-167b-4e27-a9fd-576e7229f959 Germany to take…
Sep 15, 2020
White House reviews TikTok deal, Nvidia’s Arm Holdings deal, VW on ‘Dieselgate’
The Trump administration will review the “technical partnership” deal struck between Oracle and ByteDance before deciding whether to approve the agreement, Nvidia’s $40bn agreed purchase of Arm Holdings gives the US company control over a technology that powers everything from mobile devices to data centres, and a Volkswagen executive claims scandals such as “Dieselgate” could no longer pass undetected at Volkswagen. Plus, the FT’s venture capital correspondent, Miles Kruppa, explains what the Trump Administration is considering as it reviews the partnership agreement between ByteDance and Oracle. Trump administration to review Oracle’s TikTok deal this week https://www.ft.com/content/0ccd4a25-381f-46a7-a9e6-ee12ecf1aa88 Nvidia secures control of key global tech with $40bn Arm deal https://www.ft.com/content/5bc5d0dc-24cd-407f-9fde-0d38c157d833 Dieselgate could not happen again, VW executive claims https://www.ft.com/content/777cee39-f811-47d5-9841-5952f9a8bab7?…
Sep 14, 2020
SoftBank take-private talks, Netflix to outspend on content, economic stimulus in Germany vs France
SoftBank executives have revived discussions about taking the technology group private, and Netflix is expected to outspend all its major rivals on entertainment content this year. Plus, the FT’s Europe editor, Ben Hall, explains why France and Germany took different approaches to Covid-19 stimulus and why France’s might be considered more of a gamble. SoftBank executives revive talks on taking Japanese group private ft.com/content/a83648a9-62fe-41d2-88e4-870fb2665b60? Netflix to take crown for spending on films and television ft.com/content/7d66dd4c-440c-44d3-a234-39346fb69a91? France launches €100bn coronavirus recovery plan ft.com/content/0921c871-17b5-4e2e-bdea-aab78c2d0090 Germany’s ‘ka-boom’ stimulus marks a surprising change https://www.ft.com/content/29ddcad4-aa2c-11ea-a766-7c300513fe47 Oracle wins bidding war for TikTok’s US operations https://www.ft.com/content/4860ec09-212b-45c2-9cc3-27f731816130? See acast.com/privacy for privacy and opt-out…
Sep 11, 2020
Brussels threatens UK with legal action, Citi’s new CEO, Japan PM favourite
Brussels has threatened legal action over the UK Brexit treaty breach, and Citigroup will become the first big Wall Street Bank to be run by a female chief executive after appointing Jane Fraser as Mike Corbat’s successor. Plus, the FT’s Tokyo Bureau chief, Robin Harding, will give us a glimpse of what Japan might look like under prime ministerial frontrunner Yoshihide Suga. Citi becomes first big Wall Street bank to be run by female CEO https://www.ft.com/content/029264f1-f9a6-44c4-aa3e-86c7d50e3b55 Suganomics’ from A to Z: policies of Japan’s PM frontrunner https://www.ft.com/content/4741f081-cc97-4a46-bdcf-50cdb6336808 Russian hackers are targeting both US parties, Microsoft says https://www.ft.com/content/29476d87-0eab-4d2b-b3a6-58e3536807ef See acast.com/privacy for privacy and opt-out information.
Sep 10, 2020
Wall Street keeps investing in China, ECB to discuss strong euro, LVMH vs Tiffany
Some of Wall Street’s most powerful financial institutions are striking deals in China even as relations sour between Beijing and the US, and the European Central Bank will address the strong euro situation...without using its most effective tool. Plus, the FT’s James Fontanella-Khan on why LVMH says it can no longer complete a $16.6bn deal with US jewelry company, Tiffany. Wall Street brushes off political tensions to dig deeper into China https://www.ft.com/content/01f92c8b-11dc-431c-adaf-c299e3964ff1? ECB will struggle to rein in the euro, say investors https://www.ft.com/content/5d935f19-9891-48bb-bfbf-482818de8b63 LVMH says it cannot complete Tiffany takeover after France intervenes https://www.ft.com/content/a3dcc777-ab12-4ee9-a147-54de1ac0f7e7 The FT’s New Economic Reality event https://nersciencemarkets.live.ft.com/home?segmentId=dc611fd0-c193-49f1-dc6a-217255a89d6c&utm_campaign=FEEAK See acast.com/privacy for privacy and opt-out information.
Sep 9, 2020
Apple countersues Epic Games, Slack revenue growth slowdown, Brexit friction
Workplace messaging app Slack forecast a sharp revenue slowdown in the current quarter from the loss of customers due to the economic downturn, Apple has countersued Epic Games and accused it of masquerading as a “modern corporate Robin Hood”, and a look at SoftBank’s role as the “Nasdaq whale”. Plus, the FT’s Peter Foster explains how the UK is in danger of jeopardizing its Brexit withdrawal agreement with the EU. See acast.com/privacy for privacy and opt-out information.
Sep 8, 2020
How the world has changed six months into the coronavirus pandemic
It has been about six months since coronavirus shook the west. We’ll talk to the FT’s Gillian Tett and Hannah Kuchler about how the pandemic has changed the global economy and the medical industry community in such a short amount of time. See acast.com/privacy for privacy and opt-out information.
Sep 4, 2020
US tech stocks volatility, Apple’s commits to free speech and human rights policy, US space weapons
The technology stocks that have powered US equities to record highs this summer went into sharp reverse on Thursday, and Apple has for the first time published a human rights policy that commits to respecting “freedom of information and expression”. Plus, the FT’s Katrina Manson will explain why the US military is eyeing a new generation of space weapons. US shares slide 3.5% as tech stocks go into sharp reverse https://www.ft.com/content/acbd4efd-e8ef-4d16-bf0c-83fc4df83601 Apple commits to freedom of speech after criticism of China censorship ft.com/content/a88f5d3d-0102-4616-8b3f-cb0661ba305d? US military officials eye new generation of space weapons https://www.ft.com/content/d44aa332-f564-4b4a-89b7-1685e4579e72 See acast.com/privacy for privacy and opt-out information.
Sep 3, 2020
ECB worries about strong euro, DHL warns of vaccine delivery issues, KKR eyes Japan
The euro’s rise has top policymakers at the European Central Bank worried, German logistics giant Deutsche Post DHL has warned that two-thirds of the world’s population is unlikely to have easy access to any Covid-19 vaccine that needs to be kept frozen, and KKR is doubling down on its operations in Japan. Plus, the FT’s Demetri Sevastopulo explains why US president Donald Trump is toning down his rhetoric on US-China trade issues. Rising euro has ECB worried about falling prices ft.com/content/c986281c-7154-48ac-939d-50e46d64c0ee? DHL warns of Covid-19 vaccine delivery problems ft.com/content/52d40ce8-4f6b-4068-8c48-b98fa0f7740b? KKR homes in on Japan as cash-strapped companies offload assets ft.com/content/d59ea8fd-549c-4b0f-b558-e34f53b18f7d? Why Trump no longer talks about the trade deficit with China ft.com/content/081e6d25-8d67-4caa-918a-2765a66f0052? See acast.com/privacy for privacy and opt-out information.
Sep 2, 2020
Investors brace for choppiness ahead of US election, Scottish independence, weak US dollar
Traders ratchet up bets on a particularly turbulent US presidential election and a potentially messy aftermath, Nicola Sturgeon revives plans for a possible second Scottish independence referendum, and black former McDonald’s franchisees are suing the fast-food group over discrimination allegations. Plus, the FT’s economics editor, Chris Giles, explains how a weak US dollar is affecting the global economy. Investors gird for choppy markets as race for White House heats up ft.com/content/9ed5be3b-ecfb-4485-a8ff-4b80ee40de5b Nicola Sturgeon revives plans for second Scottish independence vote https://www.ft.com/content/0f0ecf40-f30a-482e-9902-d74276bdc43f McDonald’s accused of discriminating against black franchisees https://www.ft.com/content/86b89841-4428-4031-9b6d-6341bf6f7cad Global economy unlikely to benefit from falling dollar https://www.ft.com/content/83c16626-f617-4bb3-872e-fd6723a36c11 Google and Apple build contact tracing app https://www.ft.com/content/0ed3…
Sep 1, 2020
Argentina debt holders greenlight restructuring, Lebanon’s new PM, European contact tracing woes
Argentina has succeeded in restructuring almost all of its $65bn debt with private creditors, global equities enjoy their best August since 1986, and Lebanon appoints Mustapha Adib as the country’s next prime minister as French president Emmanuel Macron visits Beirut. Plus, the FT’s Donato Paolo Mancini explains why Europe’s contact tracing efforts are struggling. Argentina clinches near-unanimous backing for debt restructuring ft.com/content/e3e8b783-9455-46f3-946f-15c31a29778b Global equities complete hottest August since 1986 ft.com/content/b37fc114-57e2-4f5e-b4b4-e373dbcd58cc Lebanon picks PM as Macron meets celebrated singer Fairuz https://www.ft.com/content/eea244c3-39f7-4827-876f-46e1e28c7d8b Europe’s fractured contact tracing linked to post-holiday Covid-19 surge ft.com/content/86a818bb-a5d7-495c-98c8-6209f019ca71? United Airlines scraps change fees for domestic tickets https://www.ft.com/content/a686e554-1e9e-424d-9b6e-0df841f68bb6 See acast.com/privacy…
Aug 31, 2020
EU’s raw materials warning, Abe replacement, why Wirecard’s auditors failed
The European Commission plans to warn member states that the EU is overly reliant on importing critical raw materials, and Japan is getting ready to pick a new prime minister after Shinzo Abe announced he is resigning. Plus, the FT’s tax and accountancy correspondent, Tabby Kinder, explains why - despite auditors’ promises to change after the Wirecard scandal - things in the industry might stay the same. EU sounds alarm on critical raw materials shortages ft.com/content/8f153358-810e-42b3-a529-a5a6d0f2077f? Japan set for new PM in weeks as Shinzo Abe’s party plans speedy vote https://www.ft.com/content/343dac7a-8260-46cc-a0b2-a4e37ba595e0 PwC pledges to review fraud detection after Wirecard scandal shakes industry https://www.ft.com/content/c7dfdff2-e834-434d-aa0c-7876dc04a9a5 See acast.com/privacy for privacy and opt-out information.
Aug 28, 2020
Walmart joins Microsoft in TikTok bid, Fed moves on inflation policy, US athletes sit out games
Walmart is partnering with Microsoft in its bid for the US operations of TikTok, and the Federal Reserve is adopting a new strategy for monetary policy that will be more tolerant of temporary increases in inflation. Plus, the FT’s Sara Germano explains how walkouts by professional US athletes are influencing the conversation about police brutality and racial injustice. Walmart enters race for TikTok US with Microsoft partnership https://www.ft.com/content/70551adb-7a6e-47a1-a6d1-070efaa957fd Fed to tolerate higher inflation in policy shift https://www.ft.com/content/e1e59faa-5005-4e1c-9d54-b1a8d4de9586 Black athletes boycott US sports leagues as protests escalate after Blake shooting https://www.ft.com/content/c7bb647a-e5fb-4644-8446-9afb69a8e363 See acast.com/privacy for privacy and opt-out information.
Aug 27, 2020
WHO skips Wuhan, Phil Hogan resigns, Hurricane Laura, Jackson Hole preview
Western governments are concerned that a World Health Organization team investigating the origins of coronavirus did not visit Wuhan, EU trade commissioner Phil Hogan has resigned after a Covid-19 misstep, and Hurricane Laura is expected to wreak havoc on US oil refinery hubs near the Gulf of Mexico. Plus, the FT’s James Politi previews what this year’s all-virtual Jackson Hole central bankers’ symposium will look like. Fears over virus probe rise after WHO team fails to visit Wuhan ft.com/content/f9dea077-66fb-4734-9d1d-076dc93568e1? EU trade commissioner set to resign after furore over Irish dinner https://www.ft.com/content/f53a2bbc-97d6-484d-92e0-7907759cdd93 Hurricane Laura threatens to bring ‘unsurvivable’ surge to US Gulf https://www.ft.com/content/86d7cac1-210e-49a9-a3ab-9b7b7bb5d8df Central bankers face virus hit to global economy at crisis forum https://www.ft.com/content/269eec67-1145-41b8-b97c-f43b293017fd Learn more about the FTWeekend Festival here: h…
Aug 26, 2020
Covid-19 vaccine makers seek protections, US homebuilder stocks rise, Ant IPO
European vaccine makers want EU exemptions that would protect them if there are problems with new Covid-19 vaccines, and low interest rates have helped US homebuilder stocks surge to record highs. Plus, the FT’s James Fontanella-Khan explains why Ant Group chose to list its potentially record setting IPO outside the US. Covid-19 vaccine makers lobby EU for legal protection https://www.ft.com/content/12f7da5b-92c8-4050-bcea-e726b75eef4d? Low rates help propel US homebuilder stocks to record highs https://www.ft.com/content/9b54ab06-2d57-44a1-85c2-47c114589c22 Ant Group reveals $2.6bn profit as it files for blockbuster IPO https://www.ft.com/content/b5f6fed2-2dcf-48dc-9097-a49bff5532dc See acast.com/privacy for privacy and opt-out information.
Aug 25, 2020
India to cut Huawei gear from network, insurers bet on pandemic, US vaccine row
India is phasing out equipment from Huawei and other Chinese companies for its telecoms networks due to an escalating border dispute, investors have quietly poured billions of dollars into insurance companies this year betting on pandemic-driven returns, and there is a brewing debate over who will get first access to a coronavirus vaccine in the US. Plus, the FT’s Washington bureau chief, Demetri Sevastopulo explains how the Republican Party will handle Donald Trump’s legacy. India moves to cut Huawei gear from telecoms network ft.com/content/55642551-f6e8-4f9d-b5ba-a12d2fc26ef9?edit=true Insurers bet that pandemic will usher in era of higher returns ft.com/content/eda1cdd1-3c0a-4fe5-b41e-173a85da79d8 US braced for political row over who gets first Covid-19 vaccines ft.com/content/13f40024-46d9-49d5-a1d9-4f5a68e674aa? US election: a divided Republican party questions Trump legacy ft.com/content/1521cb7b-44fe-47f3-bdac-92372a8ef129 Note: This episode has been updated. W…
Aug 24, 2020
Trump considers fast-tracking vaccine, dividends fall in pandemic, Neiman Marcus bankruptcy fallout
The Trump administration is considering fast tracking a UK Covid-19vaccine for use in America ahead of the presidential election, and new research shows global dividends have suffered the worst quarterly fall in a decade. Plus, the US editor of the FT’s Lex column, Sujeet Indap, explains why a hedge fund manager is in hot water over the Neiman Marcus bankruptcy case. Trump considers fast-tracking UK Covid-19 vaccine before US election https://www.ft.com/content/b053f55b-2a8b-436c-8154-0e93dcdb3c1a Global dividends suffer worst quarterly fall since 2009 ft.com/content/a136da68-4cc8-489f-9265-a719b11f75e6? Hedge fund manager admits ‘grave mistake’ in Neiman Marcus battle https://www.ft.com/content/084ba24b-a96b-4888-9bd4-c80001c0be07 See acast.com/privacy for privacy and opt-out information.
Aug 21, 2020
Huawei’s war, Chinese banks in Hong Kong, and the future of office workers
Huawei employees are becoming increasingly worried about lay-offs after the US announced “death sentence” sanctions, Hong Kong investment bankers employed by Chinese groups are on track to outnumber those in the territory from Wall Street and international banks, and working remotely could lead companies to outsource employees’ jobs. Huawei employees worry about lay-offs after tougher US sanctions https://www.ft.com/content/1fccedf5-bf88-45fe-9a39-2ac378571693 Chinese banks’ Hong Kong ranks on track to outnumber global rivals https://www.ft.com/content/abbbfcec-736c-47ba-b106-b1bdafebd099 If you can do your job anywhere, can anyone do your job? https://www.ft.com/content/fe5a7907-14b9-4e61-9938-ec3dd9d06831 Uber and Lyft win reprieve to keep operating in California https://www.ft.com/content/6b28cb8a-da35-4f02-87cd-780984e6a3ad See acast.com/privacy for privacy and opt-out information.
Aug 20, 2020
Apple hits $2tn, Germany fears zombie companies, Biden goes green
Apple has hit a $2tn market capitalisation just two years after it became the world’s first trillion-dollar company, concern is growing in Germany that a rule introduced as part of the country’s emergency response to coronavirus is fuelling the creation of thousands of so-called zombie groups that could end up sapping the economy for years to come. Plus, as Joe Biden prepares to accept the Democratic nomination for president, he’s putting green energy at the centre of his campaign. Apple market value hits $2tn https://www.ft.com/content/ef09a97a-fcea-44d7-a5c0-5dc67becf286 Germany haunted by spectre of zombie companies https://www.ft.com/content/5d5d1bc1-61a3-46a9-915c-1a1e6f2e5fd2 Biden gambles on placing climate change at heart of US energy policy https://www.ft.com/content/2ac477e7-34a4-4c0e-b9f4-018cef47d67d Airbnb files for initial public offering https://www.ft.com/content/a35a84b1-8177-40de-99d5-ca04d375cd3b See acast.com/privacy for privacy and opt-out infor…
Aug 19, 2020
Oracle considers TikTok, Putin and Belarus, and the rise of “blank-cheque companies”
Oracle has entered the race to acquire TikTok, EU leaders lined up to urge the Vladimir Putin to help steer Belarus out of its political crisis, and the US postmaster-general has reversed course on a series of controversial cost-cutting measures after Democrats claimed that they would hinder postal voting in the presidential election. Plus, a look at why special purpose acquisition companies are on the increase. Oracle enters race to buy TikTok’s US operations https://www.ft.com/content/272cfc69-b268-45ac-88d6-d55821f27e78 Putin warns western leaders over ‘meddling’ in Belarus https://www.ft.com/content/f96fdf91-6826-4af2-923d-ff14947fcd15 US postal service delays cutbacks over election fears https://www.ft.com/content/2fb59ebf-4e84-4ce6-ab8d-6f1a7dc1a058 Can Spacs shake off their bad reputation? https://www.ft.com/content/6eb655a2-21f5-4313-b287-964a63dd88b3 See acast.com/privacy for privacy and opt-out information.
Aug 18, 2020
Belarus protests intensify, Robinhood raises more funds, drilling in the Arctic
Alexander Lukashenko, the strongman president of Belarus, fought for his political future on Monday as protesters called on him to “resign”, stock-trading app Robinhood raised new equity that values the company at more than $11bn, and the Trump administration has moved to open part of the Arctic wildlife refuge for oil drilling. Plus, the FT’s Anna Gross on the human and economic toll of climate change. ‘Resign!’ Belarus president booed by striking workers https://www.ft.com/content/2b5d2e59-d50a-4a21-9708-605b1ddf90b1 Retail trading app Robinhood’s value tops $11bn on new fundraising https://www.ft.com/content/b208cbbe-579c-4cbf-9358-01ae02b4381b Trump moves to allow oil drilling in Arctic wildlife refuge https://www.ft.com/content/58b4228f-15ce-40d2-b9bf-688357045b29 Rise in coastal flooding poses threat to global economy https://www.ft.com/content/6f8fe212-b2e6-49f4-b6b5-c8143ac5392f See acast.com/privacy for privacy and opt-out information.
Aug 17, 2020
Democrats probe post office, Italy’s economy shows signs of life, chocolate sales slump
Senior Democrats have called the US postmaster general to testify before Congress amid election fears, pharmaceutical group CureVac has ruled out selling a vaccine at cost, and Italy's businesses enjoy a better than expected rebound from coronavirus. Plus, the FT’s Emiko Terazono on why the decline of travel is bad for the chocolate industry. Further reading: Democrats call postal chief to testify in US mail voting row https://www.ft.com/content/c0128915-ad28-4699-9d5b-9b0a65acaf2b CureVac vows ‘ethical margin’ on price of Covid-19 vaccine https://www.ft.com/content/83a418eb-96ae-4b71-b640-6873f315921f Italy’s businesses enjoy ‘better than expected’ virus rebound https://www.ft.com/content/73a36f20-bbd4-4d99-a1e9-685788cb9cd9 Choc waves: how coronavirus shook the cocoa market https://www.ft.com/content/37aa0ac8-e879-4dc2-b751-3eb862b12276 See acast.com/privacy for privacy and opt-out information.
Aug 14, 2020
Israel and UAE peace deal, Trump vows to block postal vote funds, China treads cautiously
Israel and the United Arab Emirates have reached a historic peace deal, Donald Trump has threatened to deprive the US post office of money needed for postal voting in November’s presidential race, and Wells Fargo’s chief compliance officer, Mike Roemer, is leaving after two years of attempting to overhaul the bank’s internal oversight operations. Plus, the FT’s Christian Shepherd explains why China is treading cautiously in the face of US sanctions. Israel and United Arab Emirates strike historic peace accord https://www.ft.com/content/2712a625-e2d4-41f3-9ef1-536d0700cbb8 Donald Trump vows to block funding for US postal voting https://www.ft.com/content/29dedf1b-a86e-4158-a41b-21bfe88585af Wells Fargo’s chief compliance officer quits in risk overhaul https://www.ft.com/content/ffeb7a3b-6908-4ea5-a848-841bad14297b China treads cautiously in the face of US sanctions https://www.ft.com/content/4084b0fb-6dc0-4090-a778-3e15694cfa1d See acast.com/privacy for privac…
Aug 13, 2020
SME’s lose big, UK GDP woes, remembering Sumner Redstone
Small and medium-sized US companies suffered a wipeout in profits in the second quarter amid the Covid-19 crisis, Lyft reported a 61 per cent drop in revenue in the same quarter but says it is seeing signs of a recovery, and Cisco warned of an even bigger drop-off in sales than it has experienced so far during the crisis. Plus, the FT’s Gavin Jackson reports on the UK’s latest GDP data. Then, we look back at the life of media mogul Sumner Redstone. Lyft clings to signs of recovery after pandemic dents revenue https://www.ft.com/content/938ea146-2699-4c2d-8511-e634d2d003f8?edit=true Cisco sales warning raises spectre of broad IT spending decline https://www.ft.com/content/f737c60e-d632-4eda-9e41-b181c3b5ca04? Coronavirus makes for a brutal quarter for smaller US companies https://www.ft.com/content/83d0c41f-be54-48e3-89fe-e78cda5f319c UK economy suffers worst slump in Europe in second quarter https://www.ft.com/content/c8b172e2-8f70-4118-9e81-423e9a4b6839 Sumner Redstone, m…
Aug 12, 2020
Biden chooses Kamala Harris as VP candidate, questions on Kodak loan, Russia’s Covid-19 vaccine
Democrat Joe Biden has named Kamala Harris as his vice-presidential running mate, an Eastman Kodak board member donated $116m in company shares to an Orthodox Jewish congregation just before the stock price collapsed, and McDonald’s is suing its former chief executive, Steve Easterbrook, over sexual conduct allegations. Plus, Russia has become the first country to grant regulatory approval to a vaccine against Covid-19. The FT’s Henry Foy explains what this means for the global race to treat coronavirus. Joe Biden names Kamala Harris as his running mate https://www.ft.com/content/6b975742-3200-4a5c-902c-e6303f55da03 McDonald’s gets tough with former chief over fresh sexual conduct claims https://www.ft.com/content/99718ee2-152f-4749-b8d7-db8065a20a39 Kodak board member donated $116m in shares to charity https://www.ft.com/content/6e7494c4-56cd-4121-8027-ecfc9586958c Russia to start mass use of its Covid-19 vaccine in coming weeks https://www.ft.com/content/219b973f-c50a…
Aug 11, 2020
Uber and Lyft told to reclassify drivers, Goldman vs Fed, Sweden’s pandemic
A judge in California has ordered Uber and Lyft to reclassify their drivers as employees, and the Federal Reserve has turned down Goldman Sachs’ request for less onerous treatment after the results of its annual stress test. Plus, the FT’s Richard Milne explains why any labelling of Sweden’s approach to coronavirus might be an oversimplification. Uber and Lyft told to treat drivers as employees in California https://www.ft.com/content/051a319c-e599-4975-90ea-40211b6a1417 Fed denies Goldman’s appeal against stress test results https://www.ft.com/content/ba208f8d-a388-4fe5-a01b-2cb030bb9a03 Sweden’s pandemic no longer stands out https://www.ft.com/content/7acfc5b8-d96f-455b-9f36-b70dc850428f? See acast.com/privacy for privacy and opt-out information.
Aug 10, 2020
Deals resurgence, aid to Beirut, internal pushback at Nike
A series of blockbuster deals has led a resurgence in M&A activity since the start of July, and international donors agreed to fund €250m in emergency aid for Beirut after a chemical explosion devastated Lebanon’s capital. Plus, the FT’s US sports business correspondent, Sara Germano, explains why a group of employees at Nike have asked management to publicly acknowledge the company’s own internal shortcomings on equality before promoting the ideal to consumers. Megadeals lead M&A revival as big companies bulk up ft.com/content/59378fea-79a9-4684-ae03-a41798a6245c? Future of Lebanon and entire region at stake, warns Macron https://www.ft.com/content/c44ff8e3-1715-499f-8d0e-6774a3d6b8aa Black employees at Nike object to company’s new ad https://www.ft.com/content/e8b4a2e3-e0cf-467a-890b-b64db664778a See acast.com/privacy for privacy and opt-out information.
Aug 7, 2020
Uber Eats fails to offset ride-sharing collapse, Quicken Loans IPO, Microsoft bids for all of TikTok
A surge in Uber’s food delivery business was unable to offset a 75 per cent drop in global ride-sharing, Quicken Loans stock jumped 20 per cent in its first day of trading on Thursday, and an FT analysis of data made public by the Trump administration makes it difficult to discern whether the US Paycheck Protection Program was effective at saving jobs. Plus, the FT’s deputy Beijing bureau chief, Yuan Yang, explains why Microsoft’s position in China might give it an advantage in its takeover talks for TikTok. Appetite for Uber Eats fails to offset ride-sharing collapse https://www.ft.com/content/0f0cd5f1-f88d-44e1-8b6a-7b50e48118aa Quicken Loans IPO: mortgage pioneer cashes in a big win https://www.ft.com/content/4f7e583a-3327-42fd-80cc-81bde2339a9b How many jobs were saved by the US small business bailout? https://www.ft.com/content/fd288b21-3391-4881-95a3-6b860c007ec0 TikTok deal tests Microsoft’s decades of China experience https://www.ft.com/content/b02d5324-07e6…
Aug 6, 2020
US lawmakers probe loan to Kodak, Zynga earnings, Biden spending
US lawmakers have launched an investigation into a $765m loan by the US government to Eastman Kodak, and two companies, Zynga and Etsy, reported strong quarterly earnings amid the pandemic. Plus, the FT’s Washington correspondent, Lauren Fedor, has some updates on how the campaign of presumptive Democratic presidential nominee Joe Biden is doing. House Democrats probe $765m government loan to Kodak ft.com/content/e4ab02ba-f8f7-4ca9-b881-9400ee612e18? Zynga earnings boosted by lockdown gaming habits https://www.ft.com/content/dfee19e3-1084-4d53-b522-99b6595281e7? Joe Biden aims to outspend Donald Trump on TV ads ahead of US election https://www.ft.com/content/012896c0-71ee-4081-a3a5-8b1ca864b214 See acast.com/privacy for privacy and opt-out information.
Aug 5, 2020
Beirut explosion, ETF gold spree, UK tax authority takes on General Electric
Dozens are dead and thousands injured after an explosion rocked Beirut, an income hit at Disney’s theme park has caused a knock on the company’s profits in the latest quarter, and an exchange traded fund holds more gold than some central banks. Plus, the FT’s Tabby Kinder explains why the UK tax authority, HM Revenue & Customs, is going after General Electric on fraud allegations. Beirut rocked by massive explosion https://www.ft.com/content/efb1426f-a80f-4b38-99c1-67a7a0823c4a ETF becomes one of world’s biggest gold owners as investors flock in ft.com/content/5316a714-6aa9-4919-ab29-96fab47cf2d4 Disney plans a digital debut for ‘Mulan’ https://www.ft.com/content/e39b07a9-edde-4dd3-9356-31bb11cd39e2 Why the UK tax authority is accusing General Electric of a $1bn fraud https://www.ft.com/content/02a6fa1b-8b62-4e1e-9100-fe620c8ec96c See acast.com/privacy for privacy and opt-out information.
Aug 4, 2020
Trump reverses on TikTok, WTO candidates on judicial system, oil earnings
US President Donald Trump reversed course and dropped his opposition to Microsoft’s bid for TikTok, two leading candidates to head the World Trade Organization say US legal criticisms over dispute resolution are valid, and foreign aid groups combatting the coronavirus pandemic in North Korea have been forced to borrow money from its government. Plus, the FT's senior energy correspondent, Anjli Raval, tells us how oil companies are surviving the pandemic shock. Register for the Energy Source talk, “Profit and Power in the Energy Industry” https://live.ft.com/Events/2020/Profit-and-Power-in-the-Energy-Industry?segmentId=b52e1504-1d03-48a4-76bc-38fb50ada64b&utm_us=JJYAAP Trump drops opposition to Microsoft bid for TikTok http://ft.com/content/a1162b60-977d-400c-9758-edc4aa006f72? Leading WTO candidates back US bid for dispute system reforms ft.com/content/f4830e2b-df7b-474a-8104-6336992ca193 Aid groups borrow money from N. Korea in coronavirus fight ft.com/content/05…
Aug 3, 2020
US vows action on Chinese tech, William Spriggs on US labour market
The Trump administration has vowed to “take action” against Chinese software companies that it perceives as a risk to security. Plus, William Spriggs, a professor of economics at Howard University and chief economist of the AFL-CIO, explains how the pandemic is changing the US labour market. US to widen action against Chinese tech groups beyond TikTok https://www.ft.com/content/2eb1859f-ea08-4c7e-9bdd-a6712389a389 The Rachman Review: US economist William Spriggs on scars of the pandemic https://www.ft.com/content/f80f8629-a84f-4ed8-abc2-bcf12cc92095 See acast.com/privacy for privacy and opt-out information.
Jul 31, 2020
US big tech companies report colossal earnings, US GDP down, companies cling to share buybacks
Facebook, Amazon, and Apple all reported stellar revenue increases in the latest quarter. The FT’s Richard Waters will explain what that means in the context of Wednesday’s US congressional big tech antitrust hearings. Then, FT US markets reporter Colby Smith will explain investor reaction to the worst contraction in the US economy in postwar history. Plus, corporate America is still clinging on to share buybacks despite the global recession. Register for the Energy Source talk, “Profit and Power in the Energy Industry” https://live.ft.com/Events/2020/Profit-and-Power-in-the-Energy-Industry?segmentId=b52e1504-1d03-48a4-76bc-38fb50ada64b&utm_us=JJYAAP Apple revenues defy expectations despite store closures https://www.ft.com/content/20d1ef26-2bf4-4900-85b2-08ef7c6d1ae1 US economy suffers sharpest postwar contraction in second quarter https://www.ft.com/content/3ff15dc7-be90-4676-8121-5a868016c4bb US companies cling to share buybacks despite collapse in profits ft.c…
Jul 30, 2020
Big tech hearings, Qualcomm-Huawei deal, 1MDB scandal
American lawmakers grill the chief executives of four US tech groups over unfair competition accusations, Qualcomm shares soared to a record high after the California chipmaker announced a royalty deal with Huawei on Wednesday, and the Federal Reserve extends measures to deal with the risk of an international shortage of dollars. Plus the FT’s opinion and analysis editor, Brooke Masters, explains how Goldman Sachs walked away from the 1MDB scandal relatively unscathed. Big Tech bosses told they have ‘too much power’ https://www.ft.com/content/7c291a12-b87c-42a6-bd35-be961693c3e7 Qualcomm shares surge on Huawei deal and 5G progress https://www.ft.com/content/0d266436-3377-49bb-867b-266939240685 Fed warns virus resurgence threatens economic recovery https://www.ft.com/content/938a5387-778d-4f9e-8aed-53d2a332c7af Goldman has done it again with its Malaysia deal https://www.ft.com/content/03d5f3c8-3d0c-4afb-b3c5-3c5ed1c7cfe6 See acast.com/privacy for privacy and opt-o…
Jul 29, 2020
Big tech antitrust hearings, Moderna prices vaccine, Fed extends emergency lending
Moderna is pitching its coronavirus vaccine at about $50 to $60 per course, the Federal Reserve has announced that it will extend emergency lending facilities, the European Central Bank has called on eurozone banks to continue to freeze dividend payments and Europe is bracing for another surge in coronavirus cases. Plus, the heads of Amazon, Apple, Alphabet and Facebook are set to appear together before Congress for the first time. The FT’s Lauren Fedor will explain what might come out of this hearing. Big tech goes to Washington https://www.ft.com/content/3e26d31f-9cff-4b3b-a971-02e16996c190 Moderna pitches virus vaccine at around $50-$60 per course https://www.ft.com/content/405c0d07-d15a-4f5b-8a77-3c2fbd5d4c1c Europe battles to contain surge in Covid-19 cases ft.com/content/bcddc297-b7f2-444d-908f-54e8ce6f4f98? See acast.com/privacy for privacy and opt-out information.
Jul 28, 2020
Investors fear US virus toll, MLB virus scare, European bank earnings
Senate Republicans unveiled a White House-backed plan for $1tn in new stimulus that would cut emergency unemployment benefits by two-thirds, the dollar weakened to a two-year low on Monday as coronavirus flare-ups weighed on investor confidence and Major League Baseball contends with a fresh coronavirus outbreak. Plus, the FT’s banking editor, Stephen Morris, will explain what lies ahead for European banks when it comes to loan losses and dividends. Republicans unveil $1tn stimulus plan cutting jobless benefits https://www.ft.com/content/3c6d86e9-93b4-41af-9803-046940cedf99? Dollar sinks to two-year low on concern over US virus toll https://www.ft.com/content/9d9fa97c-154f-46fb-affd-51f45a0de08a US baseball league postpones games after outbreak hits Miami team https://www.ft.com/content/12b00810-5b8c-4df0-b22d-cabe898770a3 Banks across Europe braced for further heavy loan-loss charges https://www.ft.com/content/d42d735a-9aa3-454e-955a-3e0b22eda03d See acast.com/priva…
Jul 27, 2020
Republicans to unveil US stimulus offer, coronavirus curbs European travel, Brexit talks
Republicans are set to unveil their proposals for a fresh round of stimulus today, US oil companies have increased production following the price crash earlier in the year, and a surge in coronavirus cases have forced countries to curb European travel. Plus, the FT’s political editor, George Parker, will have an update on the progress of future relationship talks between the UK and EU. Republicans prepare to unveil latest US stimulus offer ft.com/content/3ced1ea5-6070-46ee-a946-dc18ad212bf7 US oil production wells up after Covid price crash https://www.ft.com/content/9552bb8b-c23a-458d-b476-bbbbe4163bd2 Infection surges force countries to curb European travel https://www.ft.com/content/584ee262-d539-40ca-b145-e42865f2bc6b Michel Barnier warns ‘no progress’ made on key issues in Brexit talks https://www.ft.com/content/14e6c44f-5573-46c1-8f4c-224747562c42 See acast.com/privacy for privacy and opt-out information.
Jul 24, 2020
Goldman seeks capital relief, Intel delays launch of next generation chips, US jobs recovery stalls
Goldman Sachs is pointing to its strong second quarter results in a pitch to the Federal Reserve for relief on its capital requirements, Intel shares dropped after the company said it was pushing back the launch of its next generation of chips, and as US lawmakers wrangle over the next economic stimulus package the US jobs recovery appears to be stalling. Plus, the search for oil can cost hundreds of millions of dollars. The FT’s senior energy correspondent, Anjli Raval, explains why the industry is scaling back. Goldman touts ‘countercyclical’ trading in pitch for capital relief ft.com/content/91b19416-6f3b-4e67-a309-857a61c6d494? US labour market recovery appears to stall amid stimulus talks https://www.ft.com/content/c9290574-ceef-4638-baf1-d27323992129 Intel warns of delays to next generation chips ft.com/content/29e02e4f-df7f-49d7-8f94-00a5af481909? The last frontier: oil industry scales back exploration https://www.ft.com/content/85afd43a-cb3d-4e82-88b7-1f3a77dc2a…
Jul 23, 2020
Tesla profit milestone, US vs China, ex-Wirecard CEO rearrested
Tesla reported its fourth consecutive quarterly net profit on Wednesday, the fissure between the US and China continues to deepen with Washington ordering Beijing to shut its consulate in Houston over spying concerns, a group of US tech investors has launched an ambitious plan to buy TikTok from its Chinese parent company, ByteDance, and Wirecard’s former chief executive has been rearrested and accused of committing a long-running fraud. See acast.com/privacy for privacy and opt-out information.
Jul 22, 2020
UK-US trade talks, Trump warns of virus worsening, Latin American debt concerns
The British government has abandoned hopes of reaching a US-UK trade deal ahead of this autumn’s American presidential election, and Donald Trump told reporters the pandemic in the US will “get worse before it gets better”. Plus, the FT’s Latin America editor, Michael Stott, will explain why the region might be headed for another debt crisis. See acast.com/privacy for privacy and opt-out information.
Jul 21, 2020
EU leaders close in on recovery fund deal, Testing crunch warning, US economic rebound halted
EU leaders are closing in on a deal for a landmark coronavirus recovery package, the largest laboratory company in the US, Quest Diagnostics, has warned it will be impossible to increase coronavirus testing capacity in the event of a second wave in the autumn, and European banks are facing as much as €800bn in loan losses over the next three years as a result of the coronavirus crisis. Plus, the FT’s James Politi will explain why the US economic recovery from coronavirus was so short-lived and whether it will gather pace again. See acast.com/privacy for privacy and opt-out information.
Jul 20, 2020
Deadlock on EU recovery fund, Argentina’s plea to creditors, TikTok trouble
EU leaders spent the weekend locked in marathon summit talks over Europe’s proposed €750bn response to the coronavirus pandemic, and Albert Fernández, Argentina’s president, has made an impassioned appeal for the world to accept that he cannot budge from his final offer to restructure $65bn of foreign debt. Plus, the US is considering an effective ban on TikTok, the popular social media platform. The FT’s Beijing Bureau chief, Yuan Yang, will explain. See acast.com/privacy for privacy and opt-out information.
Jul 17, 2020
US considers blacklist for TikTok, Netflix pandemic surge wanes, FBI investigates Twitter hack
The US is considering putting TikTok on a blacklist that would effectively prevent Americans from using the popular video app, Netflix warns investors that its pandemic related growth spurt is waning, and the FBI and New York state launch investigations into Wednesday’s unprecedented hack of Twitter. Plus, the FT’s Dan Dombey explains how Spain is still struggling with its coronavirus recovery, and why so much of the country’s future hinges on the proposed EU recovery fund. See acast.com/privacy for privacy and opt-out information.
Jul 16, 2020
Twitter accounts hacked, US vs Nord Stream 2, Apple victorious in EU battle over Irish back taxes
Twitter experienced an unprecedented hack on Wednesday when bitcoin scammers sent a series of tweets from hundreds of accounts, Opec and Russia move to start unwinding the record oil supply cuts agreed earlier this year, and the US has threatened to impose sanctions on any companies helping Russia to build the Nord Stream 2 gas pipeline. Plus, the EU’s second-highest court rejected a European Commission order for Apple to pay back more than 14 billion euros in taxes to Ireland. The FT’s Javier Espinoza will have more on what this means for the EU as it tries to crack down on low-tax countries. See acast.com/privacy for privacy and opt-out information.
Jul 15, 2020
US steps up sanctioning powers against China, Moderna vaccine early results, US banks braced for loan losses
President Donald Trump signed legislation on Tuesday that gives his administration more power to impose sanctions on Chinese officials, the Trump administration reversed its rule that international students would have to return home if they are attending universities with online-only classes, Moderna’s potential Covid-19 vaccine produced immune responses in patients in the early stage trial, and technology groups are refusing a data sharing proposal with Hong Kong regulators. Plus, the FT’s US banking editor, Laura Noonan, examines why three of America’s biggest banks set aside a combined $28bn for current and future loan losses. See acast.com/privacy for privacy and opt-out information.
Jul 14, 2020
EU to go after low-tax countries, California rolls back reopening plans, European summer tourism
Brussels is planning to pursue low-tax member states over their advantageous corporate tax regimes, California is rolling back its reopening effort due to a surge in Covid-19 cases, and US technology groups and a group of state attorneys-general are joining the battle against a Trump administration rule that requires foreign students to return home if universities move to online-only courses. Plus, the FT’s leisure industries reporter Alice Hancock will explain what is becoming of the businesses reliant on European summer tourism in light of the pandemic. See acast.com/privacy for privacy and opt-out information.
Jul 13, 2020
UK to curb Huawei’s 5G role, WeWork says it’s on track for profits in 2021, OCC warning
Boris Johnson is set to unveil plans this week to phase Huawei out of the UK’s 5G mobile phone networks, WeWork’s executive chairman tells the Financial Times that the company is on track to have positive cash flow in 2021, and the new head of the US Office of the Comptroller of the Currency warns banks about using coronavirus as cover to shut branches or to win permanent concessions from regulators. Plus, the FT’s US banking editor, Laura Noonan, tells us what to expect when Wall Street banks report quarterly earnings this week. See acast.com/privacy for privacy and opt-out information.
Jul 10, 2020
Banks and the Hong Kong autonomy act, Wirecard’s Jan Marsalek, Boohoo scrutiny
US and European banks in Hong Kong are conducting emergency audits of their clients to identify officials and corporates that could face possible US sanctions over the new national security law, the FT reports that Wirecard executive Jan Marsalek touted secret documents about the use of a Russian chemical weapon in the UK as he bragged of ties to intelligence services to ingratiate himself with London traders, and coronavirus has spurred a global bicycle shortage. Plus, the FT’s consumer industries reporter Patricia Nilsson will explain how allegations of worker mistreatment brought on an investigation of online retailer Boohoo. See acast.com/privacy for privacy and opt-out information.
Jul 9, 2020
Interview with Christine Lagarde, UK business reacts to Sunak’s plan, US hits 3m Covid-19 cases
In an interview with the FT, European Central Bank president Christine Lagarde said that “women are the first victims” of events such as a pandemic and discussed the steps towards recovery. Plus, UK business leaders say that millions of jobs in some of the hardest hit sectors are still at risk despite chancellor Rishi Sunak’s £30bn jobs plan, and the US hits 3m confirmed coronavirus cases. See acast.com/privacy for privacy and opt-out information.
Jul 8, 2020
Trump withdrawing from WHO, Italian mafia bonds, US offshore wind power
The US has begun the process of leaving the World Health Organization, the FT reports that international investors bought bonds backed by the crime proceeds of Italy’s most powerful mafia group, and US investment in offshore wind power is predicted to rise to a level that nearly matches spending on offshore oil drilling this decade. Plus, the FT’s Claire Bushey will explain how coronavirus has triggered a conversation on the treatment and compensation of low-wage workers. See acast.com/privacy for privacy and opt-out information.
Jul 7, 2020
Social media groups block HK authorities, PPP loans, day trading dangers
Facebook, Google and Twitter have all said they would temporarily block Hong Kong’s authorities from accessing user data despite threats from the government, the US claims its small business bailout programme has kept 51.1 million people in work during the pandemic, and foreign students at US universities and schools will no longer be eligible to stay in the country if their courses move fully online due to coronavirus. Plus, the FT’s Eric Platt will report on the dangers associated with day trading. See acast.com/privacy for privacy and opt-out information.
Jul 6, 2020
Repairing the social and economic damage brought by the pandemic
Covid-19 has been a global shock. But will it be a transformative one? In this special edition of the FT News Briefing, the FT’s chief economics commentator, Martin Wolf, explains why the global free market era might soon be coming to an end for western democracies, and why he thinks politics, society and the economy should now revolve around the idea of citizenship. Read Martin Wolf’s essay at FT.com/BigRead. See acast.com/privacy for privacy and opt-out information.
Jul 3, 2020
UK wants final say on Virgin-O2 deal, retail goes digital in pandemic, US jobs
The UK’s Competition and Markets Authority is set to ask Brussels for full control over the review of the proposed £31bn merger between Virgin Media and O2, US consumers are expected to spend $710bn online in 2020, and American Airlines says it could have over 20,000 front-line employees more than it needs this autumn to operate its reduced flying schedule. Plus, the unemployment rate for black Americans remained higher in June than for all other groups. Economist Valerie Wilson explains why black workers are being disproportionately affected by coronavirus and what policy measures might help. See acast.com/privacy for privacy and opt-out information.
Jul 2, 2020
July 4 virus spread concerns, EU looks into Google Fitbit deal, Hong Kong under new national security law
US public health experts are warning of a heightened risk of coronavirus transmission during US Independence Day celebrations, EU regulators are asking more questions about Google’s proposed $2.1bn takeover of fitness tracker Fitbit, and the FT’s James Kynge explains how China’s national security law affects both Hong Kongers and foreigners living in the territory. Plus, the FT’s Judith Evans explains why consumers are changing their attitudes towards single-use plastic in the pandemic. See acast.com/privacy for privacy and opt-out information.
Jul 1, 2020
Dealmaking down, UK business warns on Brexit trade talks, Wirecard’s real business
Coronavirus has brought an end to one of the longest waves in mergers and acquisitions history, more than 100 UK company chiefs, entrepreneurs and business groups have written to Boris Johnson warning about the economic damage of a no-deal Brexit, and the FT has revealed that German payments company Wirecard relied on a small number of customers for the majority of its genuine sales according to an internal document. Plus, the FT’s Hannah Murphy looks at whether the advertising revolt against social media and hate speech policy will have a lasting effect. See acast.com/privacy for privacy and opt-out information.
Jun 30, 2020
Wall Street banks net record fees, Johnson channels FDR, remdesivir cost
Wall Street investment banks brought in a record amount of fees for fundraisings in the first six months of 2020 amid coronavirus, UK prime minister Boris Johnson plans to announce £5bn of infrastructure projects today, and Gilead Sciences has said it will charge governments $2,340 for a 5-day course of its coronavirus treatment, remdesivir. Plus, the FT’s Primrose Riordan explains why investors, economists, and analysts are growing concerned over China’s national security law in Hong Kong. See acast.com/privacy for privacy and opt-out information.
Jun 29, 2020
Chesapeake files for bankruptcy, Facebook ad boycott, Singapore’s new corporate structure
American shale pioneer Chesapeake Energy has filed for Chapter 11 bankruptcy, and dozens of brands are cancelling advertising on Facebook over the social media company’s handling of hate speech. Plus, Singapore is luring hedge funds and investors away from other low tax jurisdictions with a new corporate structure. The FT’s Stefania Palma explains how the country is trying to make itself Asia’s leading financial centre. See acast.com/privacy for privacy and opt-out information.
Jun 26, 2020
Wirecard insolvency, Brussels to probe German regulator, Federal Reserve bans buybacks
Wirecard filed for insolvency on Thursday, days after the German payments group revealed a multiyear fraud that led to the arrest of its former chief executive. The FT’s Dan McCrum has been following Wirecard for the past five years and will upack the company’s current position. Plus, the Federal Reserve has capped dividends and banned share buybacks by big US banks in an attempt to strengthen the financial system in the pandemic. See acast.com/privacy for privacy and opt-out information.
Jun 25, 2020
New Covid-19 cases hit US record, airlines tap debt markets, Bayer settlement
Global markets dropped on Wednesday as rising Covid-19 cases fuelled fears that the virus could derail an economic recovery, US airlines increased the size of their debt and equity fundraisings this week to nearly $10bn after receiving a warm welcome from investors, and Bayer will pay up to $10.9bn to settle a wave of lawsuits over the potential carcinogenic effects of its herbicide product Roundup. Plus, the FT’s currencies correspondent, Eva Szalay, explains why analysts at Bank of America say the British pound is an emerging-market currency in all but name. See acast.com/privacy for privacy and opt-out information.
Jun 24, 2020
Ex-Wirecard CEO arrested, Trump scales back environmental rules, the new bond monarch
Wirecard’s founder Markus Braun was arrested on suspicion of false accounting and market manipulation, and the Trump administration has eased Obama-era environmental rules during the pandemic. Plus, the FT’s global finance correspondent, Robin Wigglesworth, will explain why some investors say the Federal Reserve and other central banks have in practice nationalised the bond market with their coronavirus measures. See acast.com/privacy for privacy and opt-out information.
Jun 23, 2020
Trump expands US immigration restrictions, Apple pivots away from Intel, inside Wirecard
Donald Trump is set to extend a suspension of immigration into the US imposed in response to the coronavirus pandemic, and Apple is planning to transition away from Intel chips to an in-house design for processors. Plus, last week Wirecard warned that €1.9bn was missing from its accounts. It confirms reporting by the Financial Times, which has been investigating fraud suspicions at the German payments group. The FT’s investigations editor, Paul Murphy, will unpack the difficulties in reporting the story and the eventual downfall of the company. See acast.com/privacy for privacy and opt-out information.
Jun 22, 2020
Brexit optimism, coronavirus hits Senegal oil projects, targeting black unemployment in the US
Boris Johnson will hammer out a new plan with senior ministers this week aimed at unblocking talks on Britain’s future relationship with the EU, and the delay of oil and gas projects in Senegal signals the aftershocks from the coronavirus crisis are even hurting economies that have avoided the worst of the pandemic itself. Plus, some economists have suggested the Federal Reserve could target the black unemployment rate in its monetary policy as a means of addressing income inequality in the US. One such advocate, Janelle Jones of the Groundwork Collaborative, unpacks her proposal. See acast.com/privacy for privacy and opt-out information.
Jun 19, 2020
The inside story of a disgraced drugmaker
Executives from drugmaker Insys were the first from the pharmaceutical sector to be handed prison time for their role in America’s opioid epidemic earlier this year. The FT and the PBS series Frontline have investigated why the warning signs around the company were ignored for so long. FT pharmaceutical correspondent Hannah Kuchler tells Marc Filippino what they uncovered. Read the story at ft.com/insys. The PBS Frontline documentary, Opioids, Inc. is available for streaming online at PBS.org beginning Friday June 19, and will premiere on American PBS stations on Tuesday, June 23. For more information visit: https://www.pbs.org/wgbh/frontline/film/opioids-inc/. See acast.com/privacy for privacy and opt-out information.
Jun 18, 2020
US backs out of tech tax talks, PE’s spending spree, Hertz halts share sale
The US has suspended talks with European countries on a new global tax framework for technology companies, private equity groups in the US have been on a spending spree despite worldwide lockdowns due to the pandemic, and the bankrupt car rental company Hertz halted its controversial $500m share sale. Plus, the FT’s Seoul bureau chief Edward White explains how Donald Trump’s transactional approach to foreign policy is affecting America’s relationships with Asian countries. See acast.com/privacy for privacy and opt-out information.
Jun 17, 2020
Global stocks stay optimistic on central banks, Royalty Pharma IPO, US police reform
Wall Street rallied on expectations of new aid for the US economy from the federal government and central bank, while Royalty Pharma pulled off the biggest US listing of 2020. Plus, protesters are calling to defund police departments in the wake of George Floyd’s death. Alex Vitale, a sociology professor at Brooklyn College, explains what this might look like in practice. See acast.com/privacy for privacy and opt-out information.
Jun 16, 2020
LGBTQ rights at work, EU unemployment, oil’s transition to cleaner energy
The US Supreme Court ruled on Monday that LGBTQ workers are protected by federal civil rights laws in a landmark anti-discrimination decision, and Europe’s young workers are among the hardest hit by a frozen labour market. Plus, the FT’s senior energy correspondent, Anjli Raval, explains why coronavirus has big oil companies, such as BP, pivoting towards clean energy. See acast.com/privacy for privacy and opt-out information.
Jun 15, 2020
SoftBank financing, White House on unemployment benefits, French industry
SoftBank has quietly poured more than $500m into Credit Suisse investment funds that in turn made big bets on the debt of struggling start-ups backed by the Vision Fund, the White House is opposed to extending coronavirus-related federal unemployment payments because it believes the measure created a “disincentive” to work, and China is bracing for a second wave of coronavirus. Plus, the FT’s David Keohane reports on France’s efforts to save its aerospace industry. See acast.com/privacy for privacy and opt-out information.
Jun 12, 2020
Investors fear new Covid-19 wave, UK in border check U-turn, HSBC pressure
Investors in US and European equities were rattled on Thursday after the Federal Reserve’s dire assessment of the US economy and fresh concerns of an uptick in coronavirus cases, and the British government has abandoned its plan to introduce full border checks with the EU on January 1. Plus, the FT’s banking editor, Stephen Morris, unpacks the pressure HSBC is under after backing China’s Hong Kong national security law. See acast.com/privacy for privacy and opt-out information.
Jun 11, 2020
Fed predicts no rate increase until 2022, Brazil vs Covid-19, Bumper CEO stock awards
First, the FT’s Colby Smith explains why the Federal Reserve is predicting that it would keep interest rates close to zero until at least the end of 2022. Then, the FT’s Brazil bureau chief Bryan Harris examines how the country is handling the coronavirus pandemic. Plus, the FT’s US business editor, Andrew Edgecliffe-Johnson explains how company leaders have been awarded generous stock options that could more than make up for their temporary pandemic-related pay cuts. See acast.com/privacy for privacy and opt-out information.
Jun 10, 2020
Brexit and the EU’s recovery, Vroom’s strong IPO, Fed’s forecast
EU member states are urging Brussels to account for the shock of a hard Brexit in its coronavirus recovery plans, a former Goldman Sachs banker has avoided prison time for his role in a global insider trading ring, and US online car sales company Vroom more than doubled its price on the first day of trading as investors showed strong demand for newly listed stocks. Plus, the Federal Reserve is releasing its first economic forecast in six months. The FT’s James Politi explains what the US central bank could signal about the next stage of their recession response. See acast.com/privacy for privacy and opt-out information.
Jun 9, 2020
US stocks surge despite gloomy forecast, US police reform bill, oil industry’s cautious optimism
The US stock market has erased all of its losses from 2020, the World Bank has forecast that emerging economies will shrink for the first time in 60 years, and US Congressional Democrats have responded to protests against police brutality by proposing a bill to reform police practices. Plus, the FT’s Anjli Raval will explain the cautiously optimistic moves from the oil market. See acast.com/privacy for privacy and opt-out information.
Jun 8, 2020
Black Lives Matter protests go global, doubts over US jobs data
US civil rights groups have received a surge of corporate donations since Minneapolis police killed George Floyd, the head of Fidelity International has warned that asset managers will struggle to provide enough cash to keep businesses afloat, and global trade is under threat with up to 400,000 crew stranded either at sea or at home due to Covid-19. Plus, the FT’s James Politi explains why the US Bureau of Labor Statistics is having a hard time pinning down the country’s actual unemployment rate. See acast.com/privacy for privacy and opt-out information.
Jun 5, 2020
Grantham sells stocks, ECB buys bonds, ESG vows in a pandemic
Veteran market strategist Jeremy Grantham has cut back his holdings in global stocks. The FT’s Andrew Edgecliffe-Johnson recounts his conversation with the Boston fund manager. And, Frankfurt bureau chief Martin Arnold walks through the latest moves from the European Central Bank. Plus, the FT’s Attracta Mooney explains why wealth managers believe that investment with a sustainable focus will likely grow beyond the coronavirus pandemic. See acast.com/privacy for privacy and opt-out information.
Jun 4, 2020
Pentagon chief breaks with Trump, hydroxychloroquine, Warner Music IPO
US defence secretary Mark Esper breaks with Donald Trump on sending the army to clamp down on protests, and his predecessor James Mattis joins the president’s critics. The FT’s Katrina Manson explains why the rift is so significant. Plus, a study casts doubt on whether taking hydroxychloroquine is an effective treatment for Covid-19, and Warner Music scored the biggest US IPO of 2020 on Wednesday. See acast.com/privacy for privacy and opt-out information.
Jun 3, 2020
Companies react to protests, fear of Covid spike, Zoom’s surge
Many companies and chief executives have expressed solidarity with protests over the police killings of George Floyd and other black men and women. The FT’s Andrew Edgecliffe-Johnson explains what is different this time round. Plus, public health experts fear the demonstrations will hasten the spread of Covid-19, and Zoom has emerged as one of the biggest corporate winners from the pandemic. See acast.com/privacy for privacy and opt-out information.
Jun 2, 2020
Trump vows to deploy military to US streets
President Donald Trump threatened to send US soldiers on to American streets to tackle the most widespread unrest the country has seen in decades, following the killing of George Floyd by police. Meanwhile, Mark Zuckerberg is facing a backlash within Facebook over his stance on controversial posts by the US president related to the protests. See acast.com/privacy for privacy and opt-out information.
Jun 1, 2020
US protestors demonstrate against police violence, EU recovery, US pensions
Protests swept across US cities over the weekend as demonstrators responded to the death of George Floyd, another black man who died by police brutality. The FT’s Claire Bushey and Lauren Fedor explain what has been happening at the local and federal levels. Plus, the European Union budget commissioner is calling on member states to back new taxes to help fund the coronavirus recovery, and how seven US public pension plans risk running out of money by 2028. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid or go to https://www.ft.com/newsletter-signup/coronavirus?segmentId=9f398053-342f-c623-b5b3-1506d651696f. See acast.com/privacy for privacy and opt-out information.
May 29, 2020
Trump’s social media order, UK opens door to Hong Kong residents, AstraZeneca’s transformation
Donald Trump said he had ordered a wide-ranging review of the law that grants social media companies immunity from legal action for content on their platforms, and the UK government has opened a path to citizenship for more than 300,000 Hong Kong residents in response to China's security crackdown. Plus, the FT’s industry editor, Peggy Hollinger, unpacks the turnround that propelled pharmaceutical group AstraZeneca to the industry’s front ranks. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid or go to https://www.ft.com/newsletter-signup/coronavirus?segmentId=9f398053-342f-c623-b5b3-1506d651696f. See acast.com/privacy for privacy and opt-out information.
May 28, 2020
Pressure on Hong Kong finance, Boeing’s resumes 737 Max production, EU’s €750bn plan
Boeing said it will resume production of the troubled 737 Max, just hours after announcing plans to dismiss more than 12,000 US workers. Meanwhile, Brussels has unveiled a plan to borrow €750bn to bankroll recovery efforts after the coronavirus crisis. Now it faces a critical few weeks for corralling member states to back the plan. Plus, the US will no longer consider Hong Kong autonomous from China. The FT’s US managing editor, Peter Spiegel, explains what this could mean for the global financial hub. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid or go to https://www.ft.com/newsletter-signup/coronavirus?segmentId=9f398053-342f-c623-b5b3-1506d651696f. See acast.com/privacy for privacy and opt-out information.
May 27, 2020
Investors eye recovery, $1tn in corporate borrowing, SpaceX test flight
Hopes of a quick economic recovery gave global stocks a lift on Tuesday. The FT’s Philip Stafford explains whether that optimism can be sustained. Then, a look at the highly rated companies, including Disney, Apple and ExxonMobil, that have borrowed a trillion dollars in the first five months of this year. Plus, Elon Musk’s SpaceX will send two Nasa astronauts to space today. The FT’s West Coast Editor, Richard Waters, will explain what this means for commercial ambitions in the final frontier. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid or go to https://www.ft.com/newsletter-signup/coronavirus?segmentId=9f398053-342f-c623-b5b3-1506d651696f. See acast.com/privacy for privacy and opt-out information.
May 26, 2020
Japan’s birth rate, contact tracing in India
Japanese couples are putting off parenthood over coronavirus concerns. The FT’s Tokyo correspondent, Kana Inagaki, explains what this means for a country already suffering from population decline. Plus, countries around the world are aiming to roll out contact-tracing apps as they seek to reopen economies. The FT’s South Asia correspondent, Stephanie Findlay, reports on India’s mandatory system. Update: India’s contact-tracing policy has been loosened since our interview with Stephanie Findlay was recorded. Since then, India has issued clarifications saying that the Aarogya Setu app is not mandatory for plane travel, but passengers will have to fill out a declaration form when boarding a plane. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid or follow this link: https://www.ft.com/newsletter-signup/coronavirus?segmentId=9f398053-342f-c623-b5b3-1506d651696f. See acast.com/privacy for privacy and opt-…
May 22, 2020
Beijing’s legal force on Hong Kong, US retail, the future of higher education
The Chinese government is preparing to impose national security legislation on Hong Kong, and sales surged at the US retailers deemed “essential” by local authorities in the first quarter. Plus, the business of higher education is under threat because of coronavirus. The FT’s Andrew Jack explains. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid or follow this link: https://www.ft.com/newsletter-signup/coronavirus?segmentId=9f398053-342f-c623-b5b3-1506d651696f. See acast.com/privacy for privacy and opt-out information.
May 21, 2020
CDC director warns of second coronavirus flare-up, threat to mortgage-backed bonds
Robert Redfield, the director of the Centers for Disease Control and Prevention warns that the rapid spread of coronavirus in the southern hemisphere suggests it is likely to flare up in the US later this year. Then, the biggest shopping mall in America has fallen behind on mortgage payments that help underpin the $500bn mortgage-backed bond market. Plus, the FT’s Stephanie Findlay will explain how India’s pharma and chemical groups are jostling to take business from China. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid or follow this link: https://www.ft.com/newsletter-signup/coronavirus?segmentId=9f398053-342f-c623-b5b3-1506d651696f. See acast.com/privacy for privacy and opt-out information.
May 20, 2020
Facebook unveils online shopping venture, EU recovery fund, SoftBank’s future
Facebook has unveiled a shopping service that puts it in direct competition with Amazon and eBay, and a €500bn EU recovery fund put forward by Germany and France is facing some resistance. Plus, SoftBank announced a record $13bn annual loss earlier this week. The FT’s Tokyo correspondent, Kana Inagaki, explains what is next for founder Masayoshi Son. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid or follow this link: https://www.ft.com/newsletter-signup/coronavirus?segmentId=9f398053-342f-c623-b5b3-1506d651696f. See acast.com/privacy for privacy and opt-out information.
May 19, 2020
Moderna vaccine trial pleases investors, EBITDAC backlash, Huawei sanctions
Positive results from the first US Covid-19 trial raised investors’ hopes of an economic rebound, Chinese self-driving car start-ups have been accelerating pilot projects as US rivals sit idle, and bond investors have hit out at the growing trend of companies reporting “earnings before coronavirus”. Plus, the FT’s Kiran Stacey explains what the latest US sanctions against Huawei mean for the Chinese telecoms company’s survival. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid or follow this link: https://www.ft.com/newsletter-signup/coronavirus?segmentId=9f398053-342f-c623-b5b3-1506d651696f. See acast.com/privacy for privacy and opt-out information.
May 18, 2020
Powell on US recovery, Nomura to boost private market focus, Taiwan travel scheme
Federal Reserve chair Jay Powell has warned that the US economy may not “fully recover” until the end of 2021, Japan’s oldest brokerage firm, Nomura, is poised to unveil a new strategic focus on private markets, and the Taiwanese government and Stanford University are preparing a quarantine and testing regime for foreign travellers. Plus, the FT’s June Yoon explains how the hopeful era for South Korea’s film industry has been disrupted by the pandemic. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. See acast.com/privacy for privacy and opt-out information.
May 15, 2020
The race for a vaccine, the story behind EBITDAC, BoE’s Bailey
The hunt for a coronavirus vaccine is central to global efforts to restart economies. The FT’s US coronavirus correspondent, David Crow, explains how nationalism could slow the fight against the pandemic. Plus, some companies are presenting a new customised metric they are calling ebitdac: earnings before interest, tax, depreciation, amortisation — and coronavirus. The FT’s markets reporter, Nikou Asgari, looks into whether it will stick. Then, the governor of the Bank of England, Andrew Bailey on the central bank’s response to the crisis. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. You can watch the full Andrew Bailey interview from The FT’s Global Boardroom event here. See acast.com/privacy for privacy and opt-out information.
May 14, 2020
Jay Powell calls for more fiscal stimulus, BMW’s dividend plan, CLO vulnerability
Federal Reserve chair Jay Powell said on Wednesday that additional fiscal stimulus may be “worth it” to shield the US economy from long-term economic damage due to the pandemic, meanwhile, OECD secretary-general Angel Gurría warned that rising debt levels would “come back to haunt us”. Plus, BMW is facing criticism for plans to make a dividend payout to shareholders despite requesting subsidies from the German government. Then, collateralised loan obligations, or CLOs, have boomed over the past decade. The FT’s capital markets correspondent, Rob Smith, explains why they could be vulnerable during the recession. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. You can watch the full Angel Gurría interview from The FT’s Global Boardroom event here. See acast.com/privacy for privacy and opt-out information.
May 13, 2020
Global economic outlook worsening, dealmaking in the pandemic, looming EM debt crisis
The global economic outlook is still worsening, according to IMF managing director Kristalina Georgieva. Plus, the FT’s corporate finance and deals editor, Arash Massoudi, reports on the latest deal to collapse amid the pandemic and the FT’s Colby Smith explains why the looming emerging markets debt crisis is expected to be messy. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. See acast.com/privacy for privacy and opt-out information.
May 12, 2020
Flaw in mass testing, BP chief weighs in on oil, rental car groups under pressure
The head of an Italian biotech company that sells Covid-19 diagnostic and antibody tests told the FT that demand far exceeded supply as countries put mass testing at the centre of plans to ease lockdowns, BP’s new chief executive, Bernard Looney, said the coronavirus hit to crude consumption was likely to endure beyond the pandemic, and, as coronavirus takes a devastating toll on senior living homes, investors are being forced to recognise they are more than mere landlords. Plus, the FT’s motor industry correspondent, Peter Campbell, explains why fewer bookings is not the only reason rental car companies are hurting. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. See acast.com/privacy for privacy and opt-out information.
May 11, 2020
UK airlines seek government aid, WeWork rent, renewable energy defies market turmoil
UK airlines demanded “urgent additional government support” on Sunday warning that Boris Johnson’s plans to introduce a 14-day quarantine for people arriving in the UK by air will exacerbate the crisis facing the sector. Plus, US businesses resuming operations after coronavirus lockdowns are confronting uncertain legal terrain over whether they are required to pay workers for time spent on health checks, and WeWork’s move to skip rent payments and renegotiate hundreds of its leases is rippling into the commercial mortgage market. Then, renewable energy is one of the few sectors that has managed to weather the devastating effects of coronavirus, with new deals and new records being struck, even while the rest of the world has been grappling with the pandemic. The FT’s environment and clean energy correspondent, Leslie Hook, explains. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. -- You might also be in…
May 8, 2020
Food delivery boosts Uber sales, US jobs preview, the fashion industry under lockdown
Uber reported stronger than expected first-quarter revenues on Thursday thanks to a surge in food delivery; India’s richest man, Mukesh Ambani, has sold a stake in his digital services group Reliance Jio for a third time in three weeks. Plus, we will look at what to expect from the US jobs report for April. Then, without runways or retail, how is the fashion industry faring under lockdown? The FT’s fashion editor, Lauren Indvik, will explain. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. -- You might also be interested in a three-day digital conference hosted by the Financial Times. On 12-14 May, the FT will gather the most senior global decision makers and leading minds in policy, business, tech and finance for three days of online conversations with our top journalists – it's also free to join. Find out more at: https://globalboardroom.ft.com/ See acast.com/privacy for privacy and opt-out info…
May 7, 2020
US-China trade, ECB to resist pressure from German court, Airbnb’s outlook
Donald Trump is weighing up more aggressive economic measures against China, The European Central Bank is expected to resist recent pressure from Germany’s constitutional court over its bond-buying programme, and first-quarter results from Lyft showed promising signals for the company’s target of profitability until the disruption of the coronavirus pandemic. Plus, Airbnb was expected to make its stock market debut this year. The FT’s San Francisco correspondent, Dave Lee, will tell us how it is thinking about the future as the travel industry deals with the upheaval from the virus. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. See acast.com/privacy for privacy and opt-out information.
May 6, 2020
Disney’s $1.4bn hit, Beyond Meat boost, ECB called to justify bond-buying programme
Disney estimates that the coronavirus crisis wiped as much as $1.4bn from its quarterly operating profit, while Beyond Meat gears up for the price of its plant-based burgers to compete directly with real beef at the supermarket, and Germany’s constitutional court has called on the European Central Bank to justify its bond-buying programme. Plus, the FT’s global business columnist, Rana Foroohar, argues that economists will have to abandon their traditional way of thinking to deal with problems posed by the pandemic. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. See acast.com/privacy for privacy and opt-out information.
May 5, 2020
Aviation industry under pressure, Argentina’s debt deadline, why Silicon Valley is surviving the ad crash
The aviation industry took another hit from the coronavirus crisis on Monday as GE cut 10,000 aerospace jobs, and Argentina debt holders doubled down on their opposition to the government’s plan to restructure its debt. Plus, as the coronavirus pandemic rages on, advertising costs are being cut from many corporate budgets. The FT’s Tim Bradshaw explains why Silicon Valley is surviving the ad crash. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. See acast.com/privacy for privacy and opt-out information.
May 4, 2020
Banks get ready for bad loans, losses at Berkshire Hathaway, BlackRock’s influence
US and European banks are on track to book more than $50bn of charges on souring loans in the first quarter. Plus, the FT’s Eric Platt reports on Berkshire Hathaway’s annual general meeting, where Warren Buffett was the star of the show, and the FT’s deputy editor, Patrick Jenkins, explains how BlackRock’s small consultancy division came to have a growing influence on a number of governments. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. See acast.com/privacy for privacy and opt-out information.
May 1, 2020
Amazon Covid-19 costs, Boeing taps bond market, UK recruits fruit pickers
Amazon has warned that coronavirus measures could cost at least $4bn in the next quarter and wipe out any gain from a jump in sales during the pandemic, and Boeing has tapped the bond market for $25bn to help weather a cash drain this year. Plus, the FT’s Judith Evans reports on a crisis building in the UK fruit farming industry. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. See acast.com/privacy for privacy and opt-out information.
Apr 30, 2020
Fed’s ‘medium-term’ warning, Microsoft growth, Barclays loan provisions
The Federal Reserve has warned of lasting “medium-term” economic fallout from the coronavirus pandemic. The FT’s James Politi unpacks the central bank’s outlook. Plus, the White House praised Gilead’s remdesivir as a coronavirus treatment drug after the release of the findings from a new study, and Microsoft posted strong results in the latest quarter thanks to a jump in its cloud-related business. Then, the FT’s Stephen Morris reports on how Barclays fared in the first quarter as the bank announced a sharp increase in provisions for bad loans. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. See acast.com/privacy for privacy and opt-out information.
Apr 29, 2020
Alphabet’s signs of recovery, Trump’s meat plant order, measuring inflation
Google’s internet search business stabilised in April after a sharp downturn at the end of last month, Fitch has downgraded Italy’s credit rating to a single notch above junk, and US President Donald Trump orders meat-processing plants to remain open in the wake of coronavirus-related closures. Plus, the FT’s economics correspondent, Delphine Strauss, explains why statisticians are having such a hard time measuring inflation during the global pandemic. See acast.com/privacy for privacy and opt-out information.
Apr 28, 2020
European bank earnings, coronavirus threat to call centres
US oil prices fell sharply on Monday after the world’s largest oil-backed exchange traded fund began offloading all of its short-term contracts, and investors in European banks are braced for significant loan-loss provisions as the sector reports quarterly earnings this week. Plus, the FT’s John Reed will explain why the Philippines’ coronavirus lockdown is causing pain for the country’s vast outsourcing sector. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. See acast.com/privacy for privacy and opt-out information.
Apr 27, 2020
Covid-19 death toll, gap between financial markets and economy, Berlin’s reopening
An FT analysis found that the death toll from coronavirus may be almost 60 per cent higher than reported in official counts, and analysts are scrambling for explanations on the divergence between the flying stock market and the grim global economic picture. Plus, the FT’s Berlin bureau chief, Guy Chazan, explains how Berlin is fairing since the city’s shops reopened last week. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. See acast.com/privacy for privacy and opt-out information.
Apr 24, 2020
Germany backs EU recovery fund, Gilead drug flops, Rana Foroohar on US austerity
Germany is prepared to make a substantial financial contribution to help relaunch eurozone economies after the coronavirus pandemic, and the World Health Organization accidentally published documents yesterday showing that a potential antiviral drug for the coronavirus flopped in its first randomised clinical trial. Plus, the FT’s global business columnist, Rana Foroohar, argues that the economic ramifications of the coronavirus crisis will produce a new age of US austerity. See acast.com/privacy for privacy and opt-out information.
Apr 23, 2020
ECB to accept ‘fallen angel’ bonds as collateral, Covid-19 legal protections
The European Central Bank has changed its rules to accept bonds that lose their investment grade credit rating during the coronavirus crisis as collateral, oil prices rebounded on Wednesday after Donald Trump stoked Middle East tensions, and US business groups are calling on the federal government to shield companies from litigation if workers are exposed to the virus. Plus, the FT’s Moscow bureau chief, Henry Foy, explains why Vladimir Putin’s regime is leaning on tycoons to help the state in troubled times. See acast.com/privacy for privacy and opt-out information.
Apr 22, 2020
Oil market turmoil, Netflix adds 16m subscribers, future of aerospace
Global oil markets remained under intense pressure on Tuesday with the price of US crude oil for June delivery nearly halving and Brent dropping below $20 per barrel for the first time in 18 years. Meanwhile, the White House and congressional leaders agreed to a new coronavirus stimulus package which includes funds to replenish the small business rescue fund, and Netflix has emerged as one of the few corporate winners of the pandemic after adding more than twice as many subscribers as it had forecast last quarter. Plus, the FT’s industry editor, Peggy Hollinger, explains how the aerospace industry is being forced to adapt to a dramatic decline in air travel due to coronavirus. See acast.com/privacy for privacy and opt-out information.
Apr 21, 2020
US oil prices plummet, Singapore oil trader scandal
Yesterday, US oil prices crashed into negative territory for the first time in history. The FT’s US energy editor, Derek Brower, explains why and what is next for producers. Then, the FT’s natural resources editor, Neil Hume, explains how Singapore oil trader Hin Leong Trading suffered $800m in losses that were not reflected in its financial statements. Plus, the Trump administration is facing backlash over the terms of its small business loan programme, and more than 1m people were enrolled in the UK’s flagship staff furlough scheme during its first day in operation. See acast.com/privacy for privacy and opt-out information.
Apr 20, 2020
Small business aid deal, ECB bad bank idea, emerging market debt
The Trump administration is closing in on a deal with Congress to provide another $300bn to coronavirus-hit small businesses. Then, the FT’s US economics editor, Brendan Greeley, explains how state budgets are coping without their normal tax revenue. Plus, the European Central Bank has held high-level talks about creating a eurozone bad bank for non-performing loans, and investors have pushed back on pleas by the G20 group of big economies to allow emerging markets to pause their debt repayments. See acast.com/privacy for privacy and opt-out information.
Apr 17, 2020
Trump’s reopening plan, coronavirus drug report, Macron on EU solidarity
President Donald Trump backed away from threats to force a quick reopening of the US economy by unveiling guidelines for states, and US stock market futures rose 3 per cent late on Thursday after a report suggested a Gilead coronavirus drug had shown positive results in a clinical trial. Then, in an interview with the FT, French president Emmanuel Macron warned of the collapse of the EU as a “political project” unless richer states help economies such as Italy recover from the coronavirus pandemic. Plus, the FT’s Middle East editor, Andrew England, explains how Gulf sovereign wealth funds are mobilising to buy assets whose valuations have been hit hard by the outbreak. See acast.com/privacy for privacy and opt-out information.
Apr 16, 2020
Eurozone debt, US economic data, China cuts key lending rate
The coronavirus crisis is propelling Eurozone government debt towards 100 per cent of gross domestic product, three major US banks reported a total $12.8bn of charges in the first quarter for loan losses and warned there could be more to come, and data from all corners of the US economy published on Wednesday suggest the hit from coronavirus lockdowns has been deeper than feared. Plus, the FT’s Hudson Lockett explains why China’s central bank cut one of its most important lending rates to a record low. See acast.com/privacy for privacy and opt-out information.
Apr 15, 2020
Airline aid, banks braced for credit loss, grim IMF outlook
The US Treasury Department has reached an agreement with US airlines that paves the way for a $25bn bailout for the industry. Plus, JPMorgan Chase and Wells Fargo increased loan-loss provisions by $10bn from last year to prepare for the impact of the pandemic. Then, the IMF said on Tuesday that the coronavirus crisis will leave lasting scars on the global economy. The FT’s economics editor, Chris Giles, explains how the damage could continue long after lockdowns are lifted. See acast.com/privacy for privacy and opt-out information.
Apr 14, 2020
VC funding in China, Amazon jobs, oil under pressure
New figures show that venture capital funding in China rebounded in March after the country’s coronavirus outbreak, and Amazon has announced plans to hire 75,000 extra workers after hiring 100,000 new staff to handle coronavirus-induced demand. Plus, Anjli Raval explains why oil traders have doubts about the US-backed Opec deal to cut supply, and Rana Forhoohar argues that WeWork’s struggles illustrate what is to come in real estate markets in a post-coronavirus world. You can find Rana’s columns at FT.com/rana-foroohar See acast.com/privacy for privacy and opt-out information.
Apr 13, 2020
Inside Wuhan’s liberation, Japan on lockdown
The coronavirus’ place of origin, Wuhan, has emerged from the world’s largest mass quarantine. Meanwhile, Japan is gambling that it can control the spread of coronavirus without a full lockdown. The FT’s correspondents on the ground in China and Japan, Don Weinland and Robin Harding, look at the differing stages these two places are at when it comes to the pandemic and the road ahead. See acast.com/privacy for privacy and opt-out information.
Apr 9, 2020
Wall St worries, Europe funding, Singapore relapse
Wall Street banks are warning investors to brace for a new wave of stock market declines despite the recent relief rally, and eurozone finance ministers will reconvene today to work toward a deal on emergency lending to tackle the Covid-19 outbreak. The FT’s Mehreen Khan will explain the dispute between the Netherlands and Italy over the terms. Plus, Stefania Palma in Singapore explains how the country is handling its third wave of coronavirus infections. See acast.com/privacy for privacy and opt-out information.
Apr 8, 2020
US stimulus, WeWork v SoftBank, Carnival bonds
The Trump administration is in talks with Congress to secure an additional $250bn to fund loans for small businesses hit by the coronavirus pandemic, and a special committee of WeWork board members issued a legal challenge on Tuesday over SoftBank’s withdrawal from a $3bn deal. Plus, the FT’s capital market’s correspondent Rob Smith explains how Carnival Corporation managed to persuade investors to put their money into the ailing cruise company. See acast.com/privacy for privacy and opt-out information.
Apr 7, 2020
Investors gain hope, Italy isolated, Rana Foroohar
US stocks and global equities surged on Monday as investors took heart from signs that the coronavirus outbreak may be stabilising in some of the worst-affected countries. Plus, with a death count of more than 16,000 people and its economy on course to suffer the deepest recession in its modern history, Italy is wrestling with a lack of assistance from its European neighbours. The FT’s Miles Johnson explains that Italians are feeling betrayed by how some countries are responding to their plight.. Plus, the FT’s global business columnist, Rana Foroohar argues that private and public - but mostly private - sectors need to invest in broadband improvements as lockdowns cause internet usage to rise. See acast.com/privacy for privacy and opt-out information.
Apr 6, 2020
Covid-19 on emerging markets, possible oil tariffs
Emerging markets are scrambling to keep their economies afloat as the coronavirus pandemic deepens. The FT’s David Pilling will have more. Plus, America’s biggest banks will defend their plans to continue paying dividends in submissions to regulators today, and oil producers push back against the price war between Saudi Arabia and Russia. See acast.com/privacy for privacy and opt-out information.
Apr 3, 2020
Oil price war, vaccines, banks on stimulus
Oil soared nearly 50 per cent at one point on Thursday in its biggest ever one-day rally after US president Donald Trump stoked hopes of a supply cut deal, German biotech groups are urging regulators to ease restrictions when it comes to testing a coronavirus vaccine, and bankers are raising doubts about whether the US government’s small business loan programme will begin today, as scheduled. Plus, banks were admonished over their role in causing the 2008 financial crisis. The FT’s David Crow explains how banks can rehabilitate themselves in the coronavirus crisis by distributing unprecedented amounts of stimulus. See acast.com/privacy for privacy and opt-out information.
Apr 2, 2020
EU rescue fund, coronavirus hits rents
France is pushing for a common EU fund to help Europe through the coronavirus crisis. The FT’s Paris bureau chief, Victor Mallet, explains what the plan entails. Then, the rapid spread of the outbreak has pushed commercial landlords and their tenants to breaking point. FT property reporter George Hammond unpacks the brewing conflict between landlords and the tenants that are unable to pay rent. Plus, Amazon has said it is urgently investigating claims of “subhuman” conditions at a Philippines call centre, and SoftBank has pulled out of a $3bn purchase of WeWork stock. See acast.com/privacy for privacy and opt-out information.
Apr 1, 2020
Gillian Tett on Fed dollar scheme, Covid-19 testing
The FT’s Gillian Tett unpacks the Federal Reserve’s latest move to meet the global demand for dollars, and science editor Clive Cookson explains how different countries are handling coronavirus testing and how the private sector could step in. Plus, Donald Trump is set to suspend some tariffs for 90 days as he tries blunt the economic damage from the pandemic, the UK’s six biggest banks have bowed to pressure from Britain’s top financial regulator to suspend dividend payments, and as coronavirus reaches the developing world, a record 85 countries have approached the IMF for short-term relief in recent weeks. See acast.com/privacy for privacy and opt-out information.
Mar 31, 2020
Amazon during Covid-19, Rana on corporate interests
Amazon has pitched itself as an essential business to provide those sheltering in place with needed products. The FT’s Dave Lee reports on how the e-commerce group could emerge as a hero if deliveries remain on track, but only if it does so without pushing employees to take excessive health risks. Meanwhile, insurers are tightening the terms of their business coverage to make sure anything related to the pandemic is explicitly excluded. Plus, Rana Foroohar argues that 50 years of US policy in favour of private sector interests have come home to roost as the economy copes with coronavirus. See acast.com/privacy for privacy and opt-out information.
Mar 30, 2020
The ventilator challenge, stimulus questions
Manufacturers are working to produce the ventilators needed to help severely ill coronavirus patients breathe. The question is whether those inexperienced in the field can overcome the logistical and regulatory hurdles in time to deliver the life-saving machines. Plus, US companies have questions about how to access the $454bn of government funds set aside in the $2tn stimulus legislation, and Italy’s shadow workers are left out of the country’s safety net. See acast.com/privacy for privacy and opt-out information.
Mar 27, 2020
Market relief rally, ECB flexes, WeWork cash burn
US stocks were up for a third straight day after the Senate agreed to a $2.2tn stimulus package Wednesday. The bill comes as a report on Thursday showed that a record 3.3m Americans filed for unemployment last week from the coronavirus shutdown. Plus, the European Central Bank is giving itself a tremendous amount of flexibility in its plan to buy €750bn in additional bonds to contain the fallout from the virus. And, WeWork burnt through $1.4bn last quarter, almost all the cash injection its principal backer SoftBank had most recently provided. See acast.com/privacy for privacy and opt-out information.
Mar 26, 2020
Stimulus haggle, James Kynge on China, US oil talks
The US Senate has approved fiscal stimulus legislation worth $2tn after a week of intense negotiations, Ford suffers the biggest credit rating downgrade since 2005, and the FT’s James Kynge tells us how China could become an example of growth while the rest of the world deals with the coronavirus crisis. Plus, the US has raised the pressure on Saudi Arabia to end its oil price war with Russia as the shale industry faces a collapse. See acast.com/privacy for privacy and opt-out information.
Mar 25, 2020
Dash for cash, shutdown debate, Softbank talks
As traditional capital markets seize up, businesses are turning to emergency sources of funding. An FT analysis shows that more than 130 companies drew at least $124bn from their lenders in the past three weeks. Plus, Europe is facing a dilemma over whether to allow certain businesses to operate or shut the economy entirely to slow the spread of the coronavirus, and SoftBank explored an attempt to take the conglomerate private before deciding to sell some of its assets this week. See acast.com/privacy for privacy and opt-out information.
Mar 24, 2020
Wall Street awaits fiscal stimulus deal from Washington
The Federal Reserve announced a plan to buy corporate debt and unlimited amounts of government debt on Monday. But investors on Wall Street continue to wait for fiscal stimulus from the US government. Plus, The FT’s global business columnist, Rana Foroohar, argues that, when a bailout plan is agreed, small businesses and individuals should be first in line for the help. See acast.com/privacy for privacy and opt-out information.
Mar 23, 2020
US stimulus setback, tracking Covid-19 indicators
US lawmakers argue over a fiscal stimulus legislation worth nearly $2tn to help America weather the coronavirus pandemic. Plus, it could be weeks before official data reveals the full impact of the outbreak on the global economy. FT data journalists have compiled a set of alternative measures of economic activity, from restaurant bookings to traffic patterns, to give an early indication of what to expect. And, Occidental Petroleum chief executive Vicki Hollub looks set to keep her job as the embattled oil producer finalises a truce with activist investor Carl Icahn. See acast.com/privacy for privacy and opt-out information.
Mar 20, 2020
Friday, March 20
Republicans in the US Senate have introduced legislation to inject more than $1tn of fiscal stimulus into the economy as it grapples with the coronavirus outbreak. Sir Paul Tucker, the former deputy governor of the Bank of England and current chair of the Systemic Risk Council, says it’s time for policymakers and bankers to prepare for a wartime setting if conditions deteriorate. Plus, the only US drugmaker that makes a potential treatment for the coronavirus raised the price nearly 100 per cent in January as the outbreak wreaked havoc in China. See acast.com/privacy for privacy and opt-out information.
Mar 19, 2020
Thursday, March 19
The European Central Bank will buy an additional €750bn in bonds in response to the economic and financial upheaval caused by the coronavirus pandemic. Gillian Tett and Anjli Raval explain the dramatic market swings in markets that preceded the ECB’s emergency move. Plus, we will look at the bottlenecks in the healthcare supply chain as demand grows for testing and critical care equipment. See acast.com/privacy for privacy and opt-out information.
Mar 18, 2020
Wednesday, March 18
Western governments pledged trillions of dollars in stimulus measures to limit the economic fallout from the coronavirus pandemic on Tuesday. The FT’s global business columnist Rana Foroohar explains what it could mean for Wall Street and Main Street. Plus, Impossible Foods raises $500m in a round that will help the US-plant based burger group to see through the economic upheaval caused by the current crisis, and Joe Biden solidifies his status as the frontrunner to take on Donald Trump in November. See acast.com/privacy for privacy and opt-out information.
Mar 17, 2020
Tuesday, March 17
Governments in all large western economies took drastic measures to limit public movement on Monday in an urgent effort to arrest the spreading coronavirus pandemic while US stocks plunged despite a set of emergency measures laid out by the Federal Reserve on Sunday. Plus, an analysis by the Financial Times finds that the UK and the US have key weaknesses in their healthcare systems which could trigger a collapse if put to the test by the outbreak. See acast.com/privacy for privacy and opt-out information.
Mar 16, 2020
Monday, March 16
The Federal Reserve cut interest rates to zero and joined forces with other central banks in a bid to prevent a severe economic downturn caused by the coronavirus outbreak. The FT’s Gillian Tett unpacks the sweeping measures. Plus, the rapid spread of the coronavirus and the ensuing travel restrictions have led to one of the worst months on record for the airport industry, and French industrials group Air Liquide is asking would-be buyers of its hand sanitiser unit to offer a higher sum in the wake of the outbreak. See acast.com/privacy for privacy and opt-out information.
Mar 13, 2020
Friday, March 13
US stocks fell almost 10 per cent in their worst day since the 1987 market crash despite emergency action by the Federal Reserve. Meanwhile, following the US ban on travellers from Europe, airlines are demanding immediate government action to alleviate the industry’s deepening crisis. Plus, companies took on vast amounts of debt in the era of low interest rates. The FT’s US business editor, Andrew Edgecliffe-Johnson, explains the risk this debt poses now. We want to hear from you. Please go to FT.com/briefingsurvey, and fill out our survey for a chance to win a pair of Bose headphones. See acast.com/privacy for privacy and opt-out information.
Mar 12, 2020
Thursday, March 12
The Trump administration will suspend non-US citizens travelling from Europe for the next 30 days to reduce the spread of the coronavirus in America. This announcement came on the same day the World Health Organization labelled the coronavirus outbreak a pandemic for the first time, and the blue-chip Dow Jones Industrial Average tipped into bear market territory. Plus, Boeing lost close to a fifth of its market value on after news that it had tapped the full amount of a $13.8bn loan to deal with the financial effects of the coronavirus. Then, we will look at what to expect from Christine Lagarde and the European Central Bank today, now that the Federal Reserve and the Bank of England have made emergency rate cuts. We want to hear from you. Please go to FT.com/briefingsurvey, and fill out our survey for a chance to win a pair of Bose headphones. See acast.com/privacy for privacy and opt-out information.
Mar 11, 2020
Wednesday, March 11
Joe Biden cemented his lead as the frontrunner in the Democratic presidential race, winning several states including the battleground of Michigan. Plus, airlines cancel flights, withdraw earnings guidance and implement austerity measures to cope with the travel slump caused by the coronavirus outbreak, and the head of the International Energy Agency warns Russia and Saudi Arabia risk hurting efforts to stop the spread of coronavirus if they insist on continuing an oil price war. Then, the FT’s Chris Giles explains how the UK budget, to be unveiled today, is expected to set some money aside to deal with the outbreak. We want to hear from you. Please go to FT.com/briefingsurvey, and fill out our survey for a chance to win a pair of Bose headphones. See acast.com/privacy for privacy and opt-out information.
Mar 10, 2020
Tuesday, March 10
A crash in the price of oil rocked financial markets that were already reeling from the effects of the coronavirus. Meanwhile, Italy extended its quarantine to the entire country, two of the world’s largest medical research foundations are teaming up with a Mastercard-backed charity to commit $125m in “seed funding” to develop treatments for Covid-19, and US president Donald Trump says his administration will propose a relief package today to reduce the negative economic effects of the outbreak. Plus, EU leaders have vowed to work with Turkey to prevent renewed tensions at their shared border and revive a 2016 migration deal. And, the FT’s Derek Brower will explain how the oil price war has left US shale producers hanging on for survival. See acast.com/privacy for privacy and opt-out information.
Mar 9, 2020
Monday, March 9
Saudi Arabia has launched an aggressive oil price war after Russia refused to join production cuts with Opec, Italy locks down a huge swath of its wealthy northern area that is home to 16m people in order to contain the spread of coronavirus, and Citigroup confirmed that it is severing nearly two-thirds of the platforms it uses for currency trading as part of an effort to cut costs. Plus, Turkey is threatening to allow migrants to flow into Europe unless it gets more funding from the European Union. The FT’s Mehreen Khan and Laura Pitel explain the human tug-of-war. We want to hear from you! Please go to FT.com/briefingsurvey, and fill out our survey for a chance to win a pair of Bose QuietComfort Noise Cancelling headphones. See acast.com/privacy for privacy and opt-out information.
Mar 6, 2020
Friday, March 6
US stocks dropped as Treasury yields touched records lows on Thursday and bank share price falls led the way, struggling Chinese ride-hailing group Didi Chuxing is suffering a further blow due to the coronavirus, and ExxonMobil says it will avoid a “beauty match” on carbon emissions as rivals set out targets. Plus, the world’s biggest oil traders slashed global demand forecasts with growth falling to the weakest levels since the financial crisis. The FT’s Anjli Raval explains how this adds pressure on Opec to cut output. See acast.com/privacy for privacy and opt-out information.
Mar 5, 2020
Thursday, March 5
US stocks recovered more than 4 per cent on Wednesday, a day after the Federal Reserve cut interest rates by 50 basis points and spooked investors, Rupert Murdoch’s youngest son, James, is making a seven-figure investment in start-ups aimed at combating fake news, and the US is ready to invest $5bn in Ethiopia in an effort to counter China’s influence in one of Africa’s fastest-growing economies. Plus, banks are gearing up in the event that the coronavirus outbreak forces traders to work offsite. The FT’s Laura Noonan explains why it is not as simple as bringing home your laptop. See acast.com/privacy for privacy and opt-out information.
Mar 4, 2020
Wednesday, March 4
Joe Biden emerged as a major contender in Super Tuesday voting, despite Bernie Sanders winning in California. Meanwhile, the Federal Reserve failed to ease recession fears on Tuesday when it made an emergency interest rate cut. The FT’s Gillian Tett explains why. Plus, Tesla short sellers have reaped $2.8bn as US stocks tumbled, and Airbus is reviewing its 2020 delivery targets as the global spread of coronavirus hits demand from airlines. See acast.com/privacy for privacy and opt-out information.
Mar 3, 2020
Tuesday, March 3
US stocks ended a seven-day losing streak on Monday on expectations that central banks will soften the economic impact of the coronavirus outbreak and driverless car company Waymo raises $2.3bn from a group of outside investors. Plus, the FT’s George Parker explains the expectations of both the United Kingdom and the European Union as their trade talks begin. See acast.com/privacy for privacy and opt-out information.
Mar 2, 2020
Monday, March 2
Disruptions caused by the coronavirus are driving the global economy closer to a recession and triggering calls for fiscal and monetary intervention, activist hedge fund Elliott Management is pushing for big changes at Twitter after taking a $1bn stake, and the US state of Wyoming is in talks to buy millions of acres of land from Occidental Petroleum. Plus, if Bernie Sanders is elected US president, his policies have the potential to radically change the US financial system. The FT’s Robert Armstrong explains how Wall Street is weighing up the idea of a socialist in the White House. See acast.com/privacy for privacy and opt-out information.
Feb 28, 2020
Friday, February 28
US equities closed in correction territory on Thursday on coronavirus concerns, while Saudi Arabia is asking its Opec allies to agree to a substantial cut in oil production to deal with crippling demand. Plus, a report from Beijing on how China is trying to get its factories back to work, and the FT’s Gillian Tett unpacks how the outbreak is affecting the global economy. See acast.com/privacy for privacy and opt-out information.
Feb 27, 2020
Thursday, February 27
Donald Trump sought to defuse criticism of his handling of the coronavirus and predicted stock markets would be booming again, while investors are betting that central banks will respond to the financial fallout from the outbreak with stimulus, and Microsoft has warned that supply chain disruption due to the virus will cause the company to miss its revenue guidance for its Windows and Surface products. Plus, Walmart is exploring the sale of a stake in the UK supermarket chain Asda. See acast.com/privacy for privacy and opt-out information.
Feb 26, 2020
Wednesday, February 26
A fresh wave of selling pressure rippled across global markets on Tuesday as public health officials warned Americans to prepare for the spread of the coronavirus, Bob Iger has stepped down as chief executive of Walt Disney a year after extending his contract, and Virgin Galactic shares fall after the space tourism company reports that losses widened in the fourth quarter. Plus, there has been a wave of leadership change at European banks in the past few months. The FT’s David Crow explains why the lenders are scrambling to find a new generation of chief executives. See acast.com/privacy for privacy and opt-out information.
Feb 25, 2020
Tuesday, February 25
Global stocks had their worst day in two years on Monday as new coronavirus cases outside China dashed hopes that the outbreak had been contained, US energy stocks are now underperforming the main US stock market index by the biggest margin since 1941, disgraced film producer Harvey Weinstein was found guilty by a jury in New York of sex crimes including rape, and HP announced a $16bn buyback plan as it claims to be engaging with printer rival Xerox in deal talks. See acast.com/privacy for privacy and opt-out information.
Feb 24, 2020
Monday, February 24
Barclays is preparing to start a search for a new chief executive to replace Jes Staley, European buyout firm CVC Capital Partners is plotting an ambitious reshaping of one of the world’s most popular sports - rugby, and Italy has imposed a strict quarantine across at least 10 towns to contain the largest outbreak of coronavirus outside of Asia. Plus, the FT’s Benjamin Parkin previews Donald Trump’s visit to India. See acast.com/privacy for privacy and opt-out information.
Feb 21, 2020
Friday, February 21
EU leaders are deadlocked over how to finance the bloc’s next multi-annual budget, a judge handed down a 40 year sentence to Roger Stone on Thursday, saying the Republican political operative was prosecuted for covering up for President Donald Trump, and the luxury industry faces its biggest threat since the 2008 financial crisis with the coronavirus outbreak. Plus, wealthy Arab states have been pouring money into football as part of their effort to diversify the oil-dependent economies. But that money has caught the attention of one of football’s main governing bodies. The FT’s sports correspondent, Murad Ahmed, explains. See acast.com/privacy for privacy and opt-out information.
Feb 20, 2020
Thursday, February 20
UBS names Ralph Hamers from ING as its next chief executive, Boeing asks for a $100m a year tax break from Washington state to be suspended in order to avert retaliatory tariffs this summer, and the UN has teamed up with a New York start-up to develop technology that will attempt to gauge how people living in war zones feel about peace negotiations. Plus, billionaire Michael Bloomberg has made up for his late entry into the Democratic presidential race with an advertising spending spree of nearly half a billion dollars. The FT’s Brooke Fox and Anna Nicolaou report on the strategy that has caught the other campaigns off-guard. See acast.com/privacy for privacy and opt-out information.
Feb 19, 2020
Wednesday, February 19
The EU’s richest states have dug in their heels over the region’s budget as European Council president Charles Michel seeks to ease the blow of spending cuts on poorer countries, Donald Trump extended clemency to several high-profile white-collar criminals on Tuesday, including former Illinois governor Rod Blagojevich and financier Michael Milken, and US asset manager Franklin Templeton has agreed to buy rival Legg Mason for $6.5bn including debt. Plus, the FT’s David Crow reports on HSBC’s radical plan to downsize. See acast.com/privacy for privacy and opt-out information.
Feb 18, 2020
Tuesday, February 18
Apple has warned that disruption in China from the coronavirus will cause its revenues to fall short in the current quarter, Amazon founder Jeff Bezos has announced a $10bn fund to help fight climate change following intense criticism over the e-commerce group’s own environmental impact, and a start-up touted as the “Uber of dry cleaning” collapsed into administration on Friday, wiping out all of its investors, including British businessman Michael Spencer. Plus, the EU has rejected Facebook’s latest vision of how online content should be regulated. The FT’s Javier Espinoza reports on chief executive Mark Zuckerberg’s day in Brussels. See acast.com/privacy for privacy and opt-out information.
Feb 17, 2020
Monday, February 17
The head of SoftBank’s $100bn Vision Fund has lined up billions of dollars of outside investment for a new hedge fund-style vehicle, Goldman Sachs and a research boutique have constructed a “synthetic” way for investors to bet more cheaply against Chinese stocks, and Samsung has begun flying electronic components for its latest Galaxy phones from China to its factories in Vietnam as it grapples with sweeping supply chain disruptions caused by coronavirus. Plus, parts of the Middle East and Africa have some of the world’s youngest populations as well as its highest rates of youth unemployment. The FT’s Adrienne Klasa reports on the demographic pressures experts warn will only increase. See acast.com/privacy for privacy and opt-out information.
Feb 14, 2020
Friday, February 14
US attorney-general William Barr publicly rebuked Donald Trump, saying the president’s tweets about ongoing criminal cases had made it “impossible” to do his job, while the US Senate voted to limit Mr Trump’s military authority in Iran. Plus, US prosecutors accuse Huawei of stealing technology from several American companies and Amazon wins its request to temporarily block a $10bn US defence contract awarded to Microsoft. Plus, Sajid Javid abruptly quit as UK chancellor on Thursday after a brutal power struggle with prime minister Boris Johnson. The FT’s Robert Shrimsley explains what happened. See acast.com/privacy for privacy and opt-out information.
Feb 13, 2020
Thursday, February 13
Democrats in the US House of Representatives call on attorney-general William Barr to testify over claims of political influence in a case involving a friend of the president, Berkshire Hathaway vice-chairman Charlie Munger shares his pessimistic view of the future, and Europe’s largest telecoms conference has been forced to cancel this year’s event over fears of the spread of coronavirus. Plus, the US Department of Justice is backing Qualcomm as the chipmaker appeals against an antitrust fine from the Federal Trade Commission. The FT’s Kadhim Shubber explains how this complicates the relationship between the US regulators. See acast.com/privacy for privacy and opt-out information.
Feb 12, 2020
Wednesday, February 12
US senator Bernie Sanders declared victory in the New Hampshire Democratic presidential primary on Tuesday night, ride-sharing service Lyft disappointed investors who were looking for signs of an end to the losses, and electric scooter companies operating in Germany are braced for a setback on the streets as authorities push for a regulatory crackdown. Plus, the FT’s Hannah Kuchler explains why investors are bidding up companies that are working to alleviate the effects of the coronavirus. See acast.com/privacy for privacy and opt-out information.
Feb 11, 2020
Tuesday, February 11
A federal judge is poised to approve T-Mobile’s takeover of Sprint, according to sources briefed on the matter, Donald Trump has put forward a budget proposal that slashes key planks of the US social safety net while preserving his tax cut, and the woman who was long seen as Angela Merkel’s successor, Annegret Kramp-Karrenbauer, said she would not run for German chancellor. Plus, nearly 150m Americans were compromised in the 2017 Equifax data breach. The FT’s Kadhim Shubber reports on why the US has blamed China. See acast.com/privacy for privacy and opt-out information.
Feb 10, 2020
Monday, February 10
Google has been accused of unfairly promoting its own holiday rental search by more than 30 of its rivals, France’s Covéa is in exclusive talks to buy the Agnelli-owned PartnerRe for $9bn, and the result of Ireland’s general election was tied three ways on Sunday night. Plus, the FT’s San Francisco correspondent, Dave Lee, explains a new pilot programme from Airbnb after a series of shootings at its rentals. See acast.com/privacy for privacy and opt-out information.
Feb 7, 2020
Friday, February 7
Uber shares traded higher after hours on Thursday after the ride-hailing company promised profitability in the final quarter of this year, officials in London and Washington told the FT that Donald Trump vented in “apoplectic” fury at Boris Johnson over Britain’s decision to allow China’s Huawei a role in its 5G mobile networks, and activist hedge fund Elliott Management has built a stake worth $2.5bn in SoftBank Group and is pressing for changes. Plus, the FT’s Tom Hancock has been quarantined after reporting on the coronavirus in Wuhan. He explains how a crackdown on information about the virus in Wuhan allowed the disease to spread more widely. See acast.com/privacy for privacy and opt-out information.
Feb 6, 2020
Thursday, February 6
Donald Trump was acquitted on impeachment charges by the Senate on Wednesday, HSBC has decided to hold off on naming a permanent chief executive until after it unveils a strategy shake-up, and Chinese energy executives are projecting a 25 per cent fall in the country’s oil consumption this month due the effects of the coronavirus on demand. Plus, the FT’s Anna Nicolaou explains Spotify’s push into podcasts and what it means for the streaming giant’s music business. See acast.com/privacy for privacy and opt-out information.
Feb 5, 2020
Wednesday, February 5
US president Donald Trump claimed “incredible results in boosting the US economy in a State of the Union address to Congress and Pete Buttigieg took a narrow lead in the Iowa Democratic presidential caucuses based on partial results. Plus, sources tell the FT that New York Stock Exchange owner Intercontinental Exchange had held takeover talks with eBay, a top US executive at SoftBank’s $100bn Vision Fund is leaving after expressing concerns about “issues” at the technology conglomerate and Ford shares fell almost 10 per cent on Tuesday as it delivered a disappointing 2020 outlook. See acast.com/privacy for privacy and opt-out information.
Feb 4, 2020
Tuesday, February 4
Opec and its allies are preparing emergency cuts to oil production after the economic fallout of the coronavirus pushed the price of crude into a bear market on Monday, the pace of revenue growth at Google parent Alphabet slowed more sharply than expected in the final quarter of last year, and the German government has drafted a bill to clamp down on anti-competitive behaviour from the likes of Google and Amazon. Plus, results out of the Iowa caucus were delayed Monday night as the state Democratic party cited “quality control” issues. The FT’s Lauren Fedor reports. See acast.com/privacy for privacy and opt-out information.
Feb 3, 2020
Monday, February 3
UK prime minister Boris Johnson is expected to set out his vision for future relations with the EU in a speech today, Beijing is poised to pump extra cash into China’s financial system as part of a way to shield the economy from the effects of the deadly coronavirus outbreak, and American voters in Iowa will kick off the US Democratic presidential primary race. Plus, the FT’s Patrick McGee explains why Germany fears being left behind by Silicon Valley and Big Tech. See acast.com/privacy for privacy and opt-out information.
Jan 31, 2020
Friday, January 31
IBM has named Arvind Krishna as the new chief executive to take over from Ginni Rometty, Amazon’s one-day shipping delivered a bumper holiday sales season, and the World Health Organization has declared an international emergency over the new coronavirus epidemic. Plus, as the UK prepares to leave the European Union tonight, the FT’s George Parker says the British population is split between a state of vindication and of sadness. See acast.com/privacy for privacy and opt-out information.
Jan 30, 2020
Thursday, January 30
Shares in Facebook dropped by more than 7 per cent on Wednesday after the company posted the slowest pace of growth since 2012. Plus scientists race to develop a vaccine for the deadly coronavirus, the Federal Reserve leaves its main policy rate unchanged, and Tesla and Microsoft post better than expected quarterly revenues. Then, Claire Bushey reports on Boeing’s first annual loss in more than 20 years. See acast.com/privacy for privacy and opt-out information.
Jan 29, 2020
Wednesday, January 29
Apple recorded new records for both revenue and income for the holiday sales period, Starbucks has closed more than half of its 4,300 outlets in China over the coronavirus, Senate Republican leaders put pressure on colleagues to block witnesses in Donald Trump’s impeachment trial, and Mr Trump unveiled his long-delayed Middle East peace plan. Plus, Goldman Sachs chief executive David Solomon is taking a gamble on consumer banking. The FT’s Laura Noonan reports on the bank’s overhaul, and what has led to its first-ever investor day. See acast.com/privacy for privacy and opt-out information.
Jan 28, 2020
Tuesday, January 28
Airbus is on the brink of settling a bribery and corruption probe with regulators in the UK, France and the US, Boris Johnson feels increasing heat over Huawei’s role in the UK mobile phone network, and Donald Trump’s lawyers tried to shift the focus of his Senate impeachment trial away from revelations from former national security adviser John Bolton. Plus, global equity markets and oil prices fell sharply on Monday over concerns that the Coronavirus would slow China’s economic growth. The FT’s Tom Hancock reports from Wuhan, the city at the centre of the outbreak. See acast.com/privacy for privacy and opt-out information.
Jan 27, 2020
Monday, January 27
An internal probe showed that Deutsche Bank paid $1.1m to secure the wealth management business of a senior Saudi royal, Beijing has warned that the spread of the deadly coronavirus is expected to accelerate, and the Trump administration has warned that it would “react” with possible punitive measures against the EU for a carbon tax plan. Plus, more than three years after the Brexit referendum, the UK will leave the EU this week. The FT’s George Parker breaks down how the relationship might look after the separation. See acast.com/privacy for privacy and opt-out information.
Jan 24, 2020
Friday, January 24
A powerful rebound in Intel’s data centre division drove a stronger than expected recovery in the final quarter of 2019, former Wells Fargo chief executive John Stumpf has agreed to pay $17.5m as part of a settlement with US regulators over the bank’s fake accounts scandal, and the European Central Bank begins its first strategic review in 16 years. Plus, the founder of the opioid maker Insys has been sentenced to five-and-a-half years in prison. The FT’s Hannah Kuchler explains what this means for other US pharmaceutical executives. See acast.com/privacy for privacy and opt-out information.
Jan 23, 2020
Thursday, January 23
Chinese authorities have shut down Wuhan transport networks in its efforts to contain the outbreak of a deadly Sars-like virus. Plus, the stock market value of Tesla topped $100bn for the first time on Wednesday, and Boeing’s new chief executive, David Calhoun, insists the 737 Max will fly again. Plus, the FT’s Tim Bradshaw takes a look at the competitive market for food delivery apps, and which companies are fighting to take your order. See acast.com/privacy for privacy and opt-out information.
Jan 22, 2020
Wednesday, January 22
The US Senate rejected Democratic bids to subpoena documents on the first day of the impeachment trial of Donald Trump, a slowdown in the US continues to weigh on Netflix’s subscriber growth, and the UK is set to go ahead with plans to introduce a new digital tax against US companies despite the threat of tariffs. Plus, Saudi Crown Prince Mohammed bin Salman has been implicated in a hack involving Jeff Bezos’s phone, Boeing has told customers and suppliers that the 737 Max will now stay grounded until the middle of 2020, and US health officials have confirmed the first US case of the Sars-like coronavirus. See acast.com/privacy for privacy and opt-out information.
Jan 21, 2020
Tuesday, January 21
The US Senate impeachment trial of Donald Trump begins today. Republican Senate majority leader Mitch McConnell proposed rules on Monday evening that outraged Democrats. Plus, lawyers for Huawei’s Meng Wanzhou told a Canadian courtroom that the US extradition case against the executive amounted to “fiction”, France signals a breakthrough in talks to resolve a spat over digital taxes with the US, and the UK could be fined or lose preferential access to the European market if it violates the terms of a future relationship deal with the EU. See acast.com/privacy for privacy and opt-out information.
Jan 20, 2020
Monday, January 20
US government-funded technology companies have recorded an increase in the use of circumvention software in Iran in recent weeks, the UK’s pledge to diverge from EU rules after Brexit has provoked alarm in Brussels, and a successful emergency escape simulation puts SpaceX on track for a launch with Nasa astronauts. Plus, the FT’s Andrew Edgecliffe-Johnson explains how climate change and Big Tech will drive the agenda at this year’s World Economic Forum annual meeting in Davos. See acast.com/privacy for privacy and opt-out information.
Jan 17, 2020
Friday, January 17
Investors catapulted Alphabet’s stock market value above $1tn for the first time on Thursday, Comcast’s NBCUniversal unveils a new streaming service that will be free to many customers, and Italy’s collapsing birth rate raises alarm bells. Plus, a non-partisan government watchdog said the White House violated the law by withholding US military aid to Ukraine last year. The FT’s Kadhim Shubber explains what this means for Donald Trump’s impeachment trial. See acast.com/privacy for privacy and opt-out information.
Jan 16, 2020
Thursday, January 16
The US and China have signed an agreement to pause the trade war that has weighed on the global economy for nearly two years, flying taxi start-up Joby Aviation secures $590m in a new funding round led by Toyota, and legal costs from the 1MDB bribery scandal hit Goldman Sachs earnings. Plus, the FT’s Lionel Barber shares the highlights from his exclusive interview with German chancellor Angela Merkel. See acast.com/privacy for privacy and opt-out information.
Jan 15, 2020
Wednesday, January 15
The US House of Representatives will vote today on sending articles of impeachment against President Donald Trump to the Senate, Boeing has ceded the crown as the world’s biggest plane maker to rival Airbus, and investment in UK-based tech start-ups exceeded £10bn for the first time last year. Plus, JPMorgan Chase kicked off the Wall Street earnings season by posting a record profit. The FT’s Rob Armstrong will unpack the figures. See acast.com/privacy for privacy and opt-out information.
Jan 14, 2020
Tuesday, January 14
The UK government is trying to claw back some of the £10m paid to trade organisations to prepare for a no-deal Brexit, US officials have presented the UK with new intelligence challenging the claim that Britain would be able to mitigate the risks of adopting Huawei technology in its 5G network, and the US Treasury department has dropped the designation of China as a currency manipulator. Plus, tonight, six Democratic hopefuls will take part in the final US presidential primary debate before the crucial Iowa caucuses. The FT’s Lauren Fedor reports on how the candidates are doing in the 2020 race for the White House. See acast.com/privacy for privacy and opt-out information.
Jan 13, 2020
Monday, January 13
Nissan executives have accelerated secret contingency planning for a potential split from Renault, the head of MI5 says he has “no reason to think” that the UK’s intelligence-sharing relationship with the US would be hit if Britain adopted Huawei technology in its 5G mobile phone network, and JAB Holdings-owned Panera Bread is set to reduce the proportion of meat-based items on its menu by a third. Plus, the crisis at Boeing has deepened after the release of damning internal messages. The FT’s Claire Bushey reports on what it means for the company as the new chief executive, David Calhoun, begins today. See acast.com/privacy for privacy and opt-out information.
Jan 10, 2020
Friday, January 10
The US House of Representatives votes in favour of limiting president Donald Trump’s military powers against Iran, Western intelligence officials believe a plane that crashed in Iran killing 176 people was mistakenly brought down by an Iranian missile, and Britain is preparing to activate a new post-Brexit sanctions regime. Plus, the FT’s Patrick McGee breaks down both the outlandish and realistic ideas that came out of this year’s Consumer Electronics Show in Las Vegas. See acast.com/privacy for privacy and opt-out information.
Jan 9, 2020
Thursday, January 9
Donald Trump backs away from military action against Iran, European Commission president Ursula von der Leyen visits London in her first meeting with UK prime minister Boris Johnson, and Jeffrey Katzenberg and Meg Whitman promote their new mobile video start-up, Quibi. Plus, the FT’s Chloe Cornish reports on Carlos Ghosn’s first press conference since his escape from Japan. See acast.com/privacy for privacy and opt-out information.
Jan 8, 2020
Wednesday, January 8
Iran fires more than a dozen missiles at bases in Iraq hosting American troops in retaliation for the US killing of Qassem Soleimani. Plus, Bank of England governor Mark Carney says central banks are running low on ammunition to fight a recession, Venezuelan opposition leader Juan Guaidó reclaims his post as the head of congress, Boeing recommends simulator training for 737 Max pilots, and US Senate majority leader Mitch McConnell says Republicans have the votes to move ahead with Donald Trump’s impeachment trial. Then, Josh Chaffin reports on the Green Beret ex-con who allegedly helped Carlos Ghosn escape Japan. See acast.com/privacy for privacy and opt-out information.
Jan 7, 2020
Tuesday, January 7
The top US military official denied that America would be pulling troops out of Iraq, blaming a leaked “draft” letter indicating otherwise. Plus, Donald Trump’s former national security adviser, John Bolton, said he is willing to testify in the president’s Senate impeachment trial if subpoenaed, and disgraced movie mogul Harvey Weinstein faces new sexual assault charges in Los Angeles as he prepares for the start of a criminal trial in Manhattan. See acast.com/privacy for privacy and opt-out information.
Jan 6, 2020
Monday, January 6
France warns the US about the repercussions of imposing tariffs in response to the digital services tax on the likes of Google and Amazon, Boris Johnson is expected to pressure the European Commission to fast-track Brexit-related trade talks, and Spain is one step closer to its first coalition government in modern times after a parliamentary vote on Sunday. Plus, the FT’s Katrina Manson reports on the fallout from the US assassination of Qassem Soleimani. See acast.com/privacy for privacy and opt-out information.
Jan 3, 2020
Friday, January 3
US regulators unveil long-awaited restrictions on some flavoured e-cigarettes, Bernie Sanders notched up the biggest quarterly money haul so far of any Democratic US presidential candidate and Brussels is preparing a fresh push to create an EU-wide tax on plastic waste. Plus, the FT’s David Sheppard highlights what investors will be watching in the oil markets in 2020. See acast.com/privacy for privacy and opt-out information.
Jan 2, 2020
Thursday, January 2
Lebanon pressed for Carlos Ghosn’s return one week before the former Nissan chairman escaped from Tokyo and Google Health has created a system that can identify breast cancer more accurately than radiologists. Plus, the FT’s Robin Harding explains why employees are gaining more power in Japan’s changing labour market. See acast.com/privacy for privacy and opt-out information.
Dec 31, 2019
Tuesday, December 31
Private equity groups spent more on deals this year than at any time since the financial crisis, investors gear up for the final day of share trading in 2019, and former Nissan chief Carlos Ghosn leaves Japan, where he was on house arrest, for Beirut. Plus, the FT’s companies editor, Tom Braithwaite, breaks down the year in IPOs. See acast.com/privacy for privacy and opt-out information.
Dec 30, 2019
Monday, December 30
Fraudsters are milking companies of tens of billions of dollars a year with fake responses to online ads, new documents reveal that WeWork will have to pay $17m for some executives’ golden parachutes, and the number of small businesses being created in France has surged this year. Plus, why Warren Buffett says companies cannot be moral arbiters. See acast.com/privacy for privacy and opt-out information.
Dec 20, 2019
Friday, December 20
Andrew Bailey has been selected as the new governor of the Bank of England, Democrats and Republicans trade barbs over tactics in the delay to President Trump’s Senate impeachment trial and Uber’s former chief executive, Travis Kalanick, has sold the majority of his stake in the company. Plus the FT’s US markets editor, Jennifer Ablan, explains why investors have piled into some of the riskiest US debt as the year draws to a close. See acast.com/privacy for privacy and opt-out information.
Dec 19, 2019
Thursday, December 19
The Bank of England admits that high-speed traders have been able to listen in on market-sensitive press conferences, the man who came to be a symbol of corporate corruption is granted an early release from his 25-year sentence, and the challenge faced by European carmakers from electric vehicles sees Fiat Chrysler and PSA strike a deal to create the fourth-largest automaker in the world. Plus, the US House of Representatives voted to impeach president Donald Trump. The FT’s US managing editor, Peter Spiegel, explains what this means for the upcoming Senate trial. See acast.com/privacy for privacy and opt-out information.
Dec 18, 2019
Wednesday, December 18
FedEx cuts its annual earnings guidance for the second time in three months, a new report shows that Royal Dutch Shell paid no corporate income tax in the UK in 2018 and Sterling surrendered its post-election gains on Tuesday after Boris Johnson signalled he will try to push legislation that could cause a “cliff-edge” Brexit next year. Plus, like other countries in central Europe, Poland is facing a labour shortage. The FT’s James Shotter explains how some Polish manufacturers are replacing these workers. See acast.com/privacy for privacy and opt-out information.
Dec 17, 2019
Tuesday, December 17
Global stocks hit fresh record highs on Monday as the US and China hit pause on the long-running trade war, while Mexico and the US resolve a row over the enforcement of labour provisions in the USMCA trade pact, Netflix reveals how quickly it is growing outside of the US and Boeing plans to temporarily suspend production of the 737 Max in January. Plus, the FT’s Kiran Stacey explains why US technology companies are pushing back on a call from the Trump administration to cut Huawei out of their supply chains. See acast.com/privacy for privacy and opt-out information.
Dec 16, 2019
Monday, December 16
A deal to implement the new USMCA trade agreement was under threat after Mexico said it did not agree to certain provisions, Apple will face a shareholder vote next year calling for the iPhone maker to publicly commit to respecting freedom of expression as a human right and Boris Johnson plans to pour billions of pounds into the midlands and north of England after his election win. Plus, the FT’s Leslie Hook explains why UN climate delegates in Madrid could not reach a deal on the last article of the Paris climate accord. See acast.com/privacy for privacy and opt-out information.
Dec 13, 2019
Friday, December 13
Boris Johnson declared a powerful mandate for Brexit after a crushing UK election victory. The FT’s Sebastian Payne breaks down the results. Plus, the US House of Representatives judiciary committee pushes a critical vote on the impeachment process into Friday, and the US and China were closing in on a limited trade deal on Thursday night. Follow live updates on the UK election at FT.com/ukelection. See acast.com/privacy for privacy and opt-out information.
Dec 12, 2019
Thursday, December 12
The Federal Reserve leaves its policy rate unchanged and indicates that it has no plans to make changes through 2020, and the climate summit in Madrid could stall over the question of how to create a global carbon trading market. Plus, new findings show the US Federal Aviation Administration failed to ground Boeing’s fleet of 737 Max aircraft even after its analysis showed the plane was more accident-prone than most aircraft, Israel faces its third election in a year, and Harvey Weinstein reaches a tentative $45m settlement with a group of women who accused him of sexual assault. Then, the FT’s Michael Peel explains how Myanmar’s Aung San Suu Kyi went from human rights icon to a leader defending allegations of genocide. See acast.com/privacy for privacy and opt-out information.
Dec 11, 2019
Wednesday, December 11
UK prime minister Boris Johnson makes a final plea to voters in the “most important election in a lifetime”, Saudi Arabia renews its push for a $2tn valuation for Saudi Aramco, Democrats in the US House of Representatives unveil two articles of impeachment against president Donald Trump and trade negotiators from the US, Canada and Mexico sign changes to the USMCA trade pact. Plus, the FT’s Alan Beattie explains why European countries are turning to green trade policy and why some critics say it has more to do with protectionism than the planet. See acast.com/privacy for privacy and opt-out information.
Dec 10, 2019
Tuesday, December 10
Donald Trump says “a lot of strides” have been made on the USMCA trade deal, Morgan Stanley is cutting around 1,500 jobs worldwide, Amazon claims it was denied a $10bn US defence contract because of pressure from the president and SoftBank has agreed to sell its nearly 50 per cent stake in Wag back to the dog walking company. Plus, Paul Volcker has died at the age of 92. The FT’s Gillian Tett looks back on the life and legacy of the former Federal Reserve board chairman. See acast.com/privacy for privacy and opt-out information.
Dec 9, 2019
Monday, December 9
Beijing orders all government offices and public institutions to remove foreign computer equipment and software within three years, the FBI is treating a US naval base shooting as an apparent terrorist attack, even though the White House is not and UK officials are questioning Boris Johnson’s claims that Britain will make a clean break with the EU in December in 2020. Plus, the FT’s Laura Hughes lays out Northern Ireland’s role in the UK general election in the days leading up to the vote. See acast.com/privacy for privacy and opt-out information.
Dec 6, 2019
Friday, December 6
Dark money has made it way into political advertising in the UK general election, buyout group CVC Capital Partners holds talks with Fifa and Real Madrid about creating new global football tournaments and Speaker of the US House of Representatives, Uber releases its first-ever safety report and Nancy Pelosi, instructs fellow Democrats to draw up articles of impeachment against Donald Trump. Plus, the FT’s Anjli Raval breaks down Saudi Aramco’s $25.6bn IPO as Opec leaders meet in Vienna. See acast.com/privacy for privacy and opt-out information.
Dec 5, 2019
Thursday, December 5
Former World Bank president Robert Zoellick delivers a public rebuke of Donald Trump’s China policy, Boris Johnson vows not to involve Huawei in Britain’s 5G telecommunications networks if it compromises the country’s ability to work with security allies and the owners of the New York Mets are in talks to sell up to 80 per cent of the baseball club to hedge fund manager Steven Cohen. Plus, Saudi Arabia is pushing Opec to announce a deeper oil production cut. See acast.com/privacy for privacy and opt-out information.
Dec 4, 2019
Wednesday, December 4
Google co-founders Larry Page and Sergey Brin step back from their day-to-day roles at Alphabet, US senator Kamala Harris drops out of the 2020 presidential race and the 70th-anniversary summit of Nato begins on a fractious note. Plus, US House Democrats have accused Donald Trump of abusing his office for political gain. The FT’s Peter Spiegel unpacks the report that will pave the way for articles of impeachment and a trial in the Senate. See acast.com/privacy for privacy and opt-out information.
Dec 3, 2019
Tuesday, December 3
The Trump administration is on a tariff blitz, proposing levies on goods from France, the EU, Brazil and Argentina. In the UK, the Conservative party braces for what could be the most perilous week of the election campaign, and Sweden backs away from negative rates despite a weakening economy. See acast.com/privacy for privacy and opt-out information.
Dec 2, 2019
Monday, December 2
The Federal Reserve is considering letting inflation run above its 2 per cent target, UK politicians play a blame game after Friday’s tragedy at London Bridge and the EU’s ambitious new commission is likely to be overshadowed by a festering row over the budget. Plus, we will look at what Brussels is doing to retool industrial policy. See acast.com/privacy for privacy and opt-out information.
Nov 29, 2019
Friday, November 29
US political parties develop new technology that will access voters through the phone contacts of their supporters, OECD data shows the European Union is hit hard by the global trade slowdown and premium economy class overtakes business on several airline carriers as the most profitable seats. Plus, the latest on Japan South Korea tensions. The FT’s Edward White explains why South Korean forced labour victims are being lobbied to drop their claims for reparations. See acast.com/privacy for privacy and opt-out information.
Nov 28, 2019
Thursday, November 28
US President Donald Trump signs two bills supporting Hong Kong’s pro-democracy protesters, Christine Lagarde pushes for climate change to be part of a strategic review of the European Central Bank’s purpose and assets under management at Fisher Investments hit a record high of $115bn at the end of October despite lewd remarks by its founder, Ken Fisher. Plus, India’s growth numbers are due out Friday. The FT’s Benjamin Parkin explains what is behind the country’s deepening economic slowdown. See acast.com/privacy for privacy and opt-out information.
Nov 27, 2019
Wednesday, November 27
Xerox said it would take its proposal for a $33bn takeover of HP directly to the personal computer maker’s shareholders, Nasdaq’s listings business is on course to eclipse that of bitter rival the New York Stock Exchange this year and Manchester City’s owner has agreed to sell a $500m stake to private equity firm Silver Lake in a deal that breaks a record in sports valuations. Plus, the FT’s Leslie Hook explains why China’s commitment to renewable energy has lagged in recent years, and why it’s causing alarm ahead of the annual UN climate talks. See acast.com/privacy for privacy and opt-out information.
Nov 26, 2019
Tuesday, November 26
Companies unleash a wave of global takeovers, agreeing to more than $70bn in deals, famed investor Bill Gross warns that US stock and bond markets are set for a tougher time in 2020, a judge rules that Donald Trump cannot stop his most senior advisers testifying to Congress and revised official data show that Mexico’s economy has entered a technical recession. Plus, Uber has been stripped of its London licence. The FT’s Tim Bradshaw explains what it means for the ride-sharing company. See acast.com/privacy for privacy and opt-out information.
Nov 25, 2019
Monday, November 25
Pro-democracy candidates take more than half of seats in Hong Kong’s local council elections amid record voter turnout, UK prime minister Boris Johnson launches a low-risk Conservative manifesto and Michael Bloomberg officially announces he is running for US president. Plus, LVMH is set to buy Tiffany & Co for $16.7bn. The FT’s Eric Platt breaks down the latest offer. See acast.com/privacy for privacy and opt-out information.
Nov 22, 2019
Friday, November 22
Politicians and privacy campaigners call for Google’s $2.1bn deal for Fitbit to be blocked, Israeli prime minister Benjamin Netanyahu will be hit by prosecutors on bribery, fraud and breach of trust charges, and a subsidiary of China’s largest construction group has suspended work on one of the nation’s tallest skyscrapers. Plus, the FT’s Eric Platt explains why Charles Schwab is ready to put down $25bn to acquire TD Ameritrade. See acast.com/privacy for privacy and opt-out information.
Nov 21, 2019
Thursday, November 21
The US ambassador to the EU, Gordon Sondland, turns against Donald Trump in an explosive impeachment testimony, Saudi Arabia marginalises global banks in the final stage of Saudi Aramco’s flotation process and GM sues rival Fiat Chrysler, claiming FCA bribed officials of the UAW union during bargaining talks with GM. Plus, the FT’s Alistair Gray explains why Walmart is thriving once again. See acast.com/privacy for privacy and opt-out information.
Nov 20, 2019
Wednesday, November 20
Boris Johnson narrowly beats rival Jeremy Corbyn in a high-stakes televised duel, Lieutenant Colonel Alexander Vindman, a current White House official, testifies that Donald Trump made an ‘improper” demand in a July 25 phone call with the Ukrainian president, and the US National Transportation Safety Board says the main cause of a fatal accident involving a self-driving Uber was the back-up driver’s “failure” to monitor the road. Plus, the FT’s Anna Gross breaks down why the Brazilian president’s decision to allow sugarcane cultivation has become another roadblock in the way for a landmark trade deal between the EU and South America. See acast.com/privacy for privacy and opt-out information.
Nov 19, 2019
Tuesday, November 19
Alibaba is set to raise up to $13.4bn in a secondary listing in Hong Kong even as violence in the financial centre intensifies. Many see the IPO as a critical test of confidence in both Hong Kong and Beijing. Next, Coty buys a controlling stake in Kylie Jenner’s cosmetics company and UK prime minister Boris Johnson shelves a proposed cut to corporation tax at the CBI’s annual conference on Monday. Plus, Facebook declared that it had shut down 5.4bn fake accounts in the first nine months of this year. The FT’s Lex deputy editor, Elaine Moore, dives into the social network’s fake accounts problem. See acast.com/privacy for privacy and opt-out information.
Nov 18, 2019
Monday, November 18
Saudi Aramco scales back the initial public offering of its state oil giant, Nancy Pelosi, the Speaker of the US House of Representatives, says she will “make sure” President Donald Trump does not “intimidate” the whistleblower who sparked the impeachment inquiry, UK prime minister Boris Johnson is expected to pledge to reduce business rates and provide a series of tax breaks worth about £1bn a year and HP’s board of directors unanimously rejects a $22-a-share bid from rival Xerox. Plus, the FT’s Archie Hall explains why some yield-starved investors are piling into income share agreements with students looking to finance higher education. See acast.com/privacy for privacy and opt-out information.
Nov 15, 2019
Friday, November 15
The US and China are struggling to complete a ‘phase one’ deal to halt their trade war, former Goldman Sachs chief executive Lloyd Blankfein takes aim at US Democratic presidential candidate Elizabeth Warren, saying that “maybe tribalism is just in her DNA” and Amazon’s Jeff Bezos is fighting back against the Trump administration award of the $10bn Jedi military contract to Microsoft. Plus, the FT’s Madhumita Murgia reports on Google’s plan to lock down advertisers’ access to personal user data. See acast.com/privacy for privacy and opt-out information.
Nov 14, 2019
Thursday, November 14
WeWork said its losses more than doubled to $1.3bn in the third quarter of 2019, researchers say a smartphone app developed by the Home Office for EU citizens has serious vulnerabilities, Google is talking to US banks about offering checking accounts to its customers and outgoing European Council president Donald Tusk takes aim at Brexiters “longing for the Empire”. Plus, the FT’s Peter Spiegel analyses the first day of public impeachment hearings on the Trump administration’s dealings with Ukraine. See acast.com/privacy for privacy and opt-out information.
Nov 13, 2019
Wednesday, November 13
Some popular UK health websites are sharing people’s sensitive data to ad-targeting giants such as Google, Amazon and Facebook, and US president Donald Trump threatens to escalate the trade war with China if no truce is reached. Plus,Tesla has plans to bring its first European production site to Berlin and Spain’s Socialist party strikes a deal with the radical leftwing Podemos party in what could be the country’s first modern coalition government. Plus, Germany is on the brink of a recession, but the country’s services business and consumer spending are thriving. The FT’s Martin Arnold explains. See acast.com/privacy for privacy and opt-out information.
Nov 12, 2019
Tuesday, November 12
Sources tell the FT that US private equity firm Cerberus has lost faith in Deutsche Bank’s chairman Paul Achleitner and is pushing for him to be replaced, WeWork has held talks with T-Mobile US boss John Legere to become its new chief executive and KKR woos Walgreens with a $70bn buyout proposal. Plus, the FT’s political editor George Parker unpacks how the UK elections have unravelled and what to expect next. See acast.com/privacy for privacy and opt-out information.
Nov 11, 2019
Monday, November 11
Christine Lagarde is expected to face calls for an overhaul of how the European Central Bank decides monetary policy, Apple has piled on more than $400bn of market capitalisation so far this year, Bolivia’s socialist President Evo Morales has stepped down after almost 14 years in power and elections in Spain failed to break the country’s political impasse. Plus, the FT’s Anna Nicolaou explains why teens and media executives, alike, are taking note of TikTok. See acast.com/privacy for privacy and opt-out information.
Nov 9, 2019
Introducing FT Politics: UK Election Countdown
We have another FT podcast to share. With FT Politics: UK Election Countdown, you can keep up with the twists and turns of the December 12 poll. The first week of the election did not go to plan for the Conservatives, as their campaign was beset by gaffes and mistakes. Can Boris Johnson get back on track? Is Labour pleased with how its campaign is going? Plus, the politics team delves into the new fiscal rules pledged by both parties and what the spending splurge means. You can find FT Politics: UK Election Countdown wherever you listen to podcasts. See acast.com/privacy for privacy and opt-out information.
Nov 8, 2019
Friday, November 8
Bankers for Saudi Aramco’s initial public offering have dangled the possibility of bonus payouts that could take the company’s annual dividend past $100bn and Disney’s costs climb as it gets ready to debut its new streaming service. Meanwhile, billionaire and former mayor of New York City Michael Bloomberg has taken his first official steps to run for the Democratic presidential nomination in 2020, US stocks closed at record highs on Thursday following reports that Washington and Beijing agreed to remove some trade tariffs in phases and the Bank of England has given its clearest signal yet that it will be prepared to cut interest rates if the UK economy slows further. Plus, Spain will head to the polls on Sunday for the fourth time in as many years. The FT’s Daniel Dombey explains the political deadlock, and what to expect from the upcoming election. See acast.com/privacy for privacy and opt-out information.
Nov 7, 2019
Thursday, November 7
Airbnb is being valued at up to $42bn by investors buying indirect stakes ahead of an IPO next year and the US Department of Justice has charged two former Twitter employees with using the platform to spy for the Saudi government. Meanwhile, SoftBank founder Masayoshi Son admits turning a “blind eye” to governance lapses at WeWork, Uber shares hit a new low on Wednesday following the end of the early investors’ lock-up period and Xerox launches a bid to acquire its much larger rival HP for more than $30bn, including debt. Plus, the French government has pledged to “take back control” of its immigration policy. The FT’s Victor Mallet explains why the crackdown is coming now. See acast.com/privacy for privacy and opt-out information.
Nov 6, 2019
Wednesday, November 6
Donald Trump’s envoy to the EU acknowledges Ukraine aid was linked to a probe into Joe Biden, Ikea and H&M resist retail disruption by investing hundreds of millions of euros into venture capital investments and Germany’s finance minister, Olaf Scholz, offers hope of a breakthrough in plans to create a full eurozone banking union. Plus, an FT investigation shows that air pollution on the London Underground is as much as 10 times above health guidelines. See acast.com/privacy for privacy and opt-out information.
Nov 5, 2019
Tuesday, November 5
Uber’s rising revenue fails to stem a large loss in the third quarter and SoftBank tightens governance at companies it backs following the near collapse of WeWork. Meanwhile, Trump administration officials debate whether to remove some existing tariffs on Chinese goods to seal a partial deal, UK MPs vote in favor of Lindsay Hoyle as the next Speaker of the House of Commons, and a second senior executive leaves McDonald’s after the chief executive was fired over a relationship with an employee. Plus, are Americans better off financially than they were four years ago? A new FT-Peterson poll has some interesting answers. See acast.com/privacy for privacy and opt-out information.
Nov 4, 2019
Monday, November 4
The whistleblower who sparked the impeachment inquiry into Donald Trump agrees to answer questions by House Republicans, Saudi Aramco launches its long-awaited IPO, regulators call on Deutsche Bank’s Christian Sewing to give up his dual role as chief executive and investment bank head, and McDonald’s sacks its chief executive over a relationship the fast-food giant said is a violation of company policy. Plus, Facebook, Google and other big technology companies are facing several US investigations into their corporate power. The FT’s Kiran Stacey looks at which investigations the industry should worry about. See acast.com/privacy for privacy and opt-out information.
Nov 1, 2019
Friday, November 1
The US House of Representatives votes to begin a new public phase in the impeachment inquiry into Donald Trump, Adam Neumann’s former chief of staff accuses WeWork and its co-founder of discriminating against women, Shares in Pinterest fall after the company reported third-quarter revenues below expectations and Altria writes down the value of its investment in Juul by $4.5bn. Plus, the FT’s David Crow explains why European banks have run out of options to protect profits. See acast.com/privacy for privacy and opt-out information.
Oct 31, 2019
Thursday, October 31
The US Department of Justice strikes a deal with the Malaysian financier at the centre of the 1MDB scandal, Apple posts quarterly earnings showing strong accessory sales even as smartphone and Mac sales declined, and new documents reveal that Boeing pushed to limit expensive pilot training for its 737 Max jet. Plus, the Federal Reserve cut interest rates for the third time this year. The FT’s Jennifer Ablan explains what this signals about the central bank’s outlook for the US economy. See acast.com/privacy for privacy and opt-out information.
Oct 30, 2019
Wednesday, October 30
British MPs set a general election for December 12, the owner of French carmaker Peugeot is in merger talks with rival Fiat Chrysler Automobiles to create a company worth more than $47bn, and US senators lash out at Boeing chief executive Dennis Muilenburg in his first appearance before Congress since the two fatal crashes of its 737 max jet. Plus, the FT’s Mehul Srivastava reports on a WhatsApp hack that led to the targeting of 100 journalists and dissidents. See acast.com/privacy for privacy and opt-out information.
Oct 29, 2019
Tuesday, October 29
Alphabet revenues were hit by rising costs in the third quarter despite a strong performance by Google’s ad business, and UK prime minister Boris Johnson will push ahead with another attempt to set a December general election. Plus, the FT reports that TikTok parent company ByteDance is planning to go public in Hong Kong next year, Beyond Meat posts its first quarterly profit since going public and the US House of Representatives will vote to formalise its impeachment inquiry. Then, Sir Richard Branson’s Virgin Galactic made its trading debut on Monday, becoming the first space tourism company to launch on to public markets. See acast.com/privacy for privacy and opt-out information.
Oct 28, 2019
Monday, October 28
Alberto Fernández defeats Mauricio Macri to become the next president of Argentina, Lloyds Banking Group failed to pass on the wills of thousands of deceased customers to their families and President Donald Trump announces that Isis Leader, Abu Bakr al-Baghdadi, was killed by US special forces. Plus, the FT’s San Francisco correspondent Patrick McGee explains how Uber is trying to become the west’s first super-app. See acast.com/privacy for privacy and opt-out information.
Oct 25, 2019
Friday, October 25
Amazon shares dropped as much as 9 per cent in after-hours trading on Thursday after the company reported lower profits than a year ago, Boris Johnson makes a fresh push for a UK general election, the European Central Bank keeps rates on hold at president Mario Draghi’s last policy meeting and Paris overtakes Berlin in tech start-up activity. Plus, leftwing populists are poised to retake power in Argentine elections on Sunday. The FT’s Colby Smith explains what this could mean for the country’s debtholders. See acast.com/privacy for privacy and opt-out information.
Oct 24, 2019
Thursday, October 24
Tesla shares soar 20 per cent in after-hours trade after posting a net profit in the third quarter, and Donald Trump says he will remove sanctions imposed on Turkey a day ahead of a Nato defence ministers meeting. Plus, WeWork plans to axe 4,000 jobs, European Council president Donald Tusk is trying to persuade leaders to back a Brexit delay and Boris Johnson’s government and party are split on whether to push for a general election. Then, the FT’s Washington correspondent, Kiran Stacey, unpacks Mark Zuckerberg’s defence of the Libra digital currency project. See acast.com/privacy for privacy and opt-out information.
Oct 23, 2019
Wednesday, October 23
British MPs back Boris Johnson’s Brexit deal in principle, but derail his attempt to take the UK out of the EU by October 31, and US commerce secretary Wilbur Ross floats new talks with the EU as an alternative to imposing car tariffs next month. Plus, the top US diplomat in Kiev says Donald Trump withheld Ukraine aid over a request to investigate political rivals, Turkey and Russia agree to the removal of Kurdish fighters from a buffer zone in north-east Syria, the Chinese government is drawing up a plan to replace Hong Kong leader Carrie Lam, and Snapchat’s parent company says it expects to hit its target of turning a profit by the end of the year. Then, FT industry editor Peggy Hollinger tells us what Boeing has to do to regain trust as it tries to get its 737 Max plane back in the air. See acast.com/privacy for privacy and opt-out information.
Oct 22, 2019
Tuesday, October 22
Justin Trudeau’s Liberal party was set for a minority government win in Canada’s general election, SoftBank floats a $9.5bn proposal to take control of WeWork, Israeli prime minister Benjamin Netanyahu abandons attempts to build a governing coalition, researchers at IBM claim that Google is wrong to say it is the first to achieve “quantum supremacy” and three drug distributors, as well as two pharmaceutical companies, sketch out a $48bn proposal to settle lawsuits related to the US opioid epidemic. See acast.com/privacy for privacy and opt-out information.
Oct 21, 2019
Monday, October 21
Boris Johnson makes a new attempt to win parliament’s backing for his Brexit deal on Monday, UK officials say a Russian cyberattack unit “masqueraded” as Iranian hackers to lead attacks against 35 countries and Standard Chartered chief executive Bill Winters is planning to accept a voluntary pay cut in response to a dispute over his pension allowance. Plus, Canadians will go to the polls in a general election today. FT contributor Jason Kirby reports on what is at stake for prime minister Justin Trudeau. See acast.com/privacy for privacy and opt-out information.
Oct 18, 2019
Friday, October 18
Boris Johnson attempts to secure parliamentary support for his Brexit deal, Saudi Aramco postpones the launch of its long-awaited initial public offering and Facebook reveals a project to prevent minors from being exploited on its platforms. Plus, Turkey agrees to pause its military incursion in Syria as the US pledges to ease sanctions, and Mick Mulvaney, acting White House chief of staff, makes an admission regarding Donald Trump’s July phone call to Ukraine. With Lauren Fedor, FT Washington correspondent. See acast.com/privacy for privacy and opt-out information.
Oct 17, 2019
Thursday, October 17
Brexit negotiators wrangle over the terms of a deal ahead of the start of Thursday’s EU summit, Netflix missed its forecast for new subscribers for the second straight quarter, thousands of Hong Kong’s wealthy residents are opening bank accounts in Singapore and other financial centres as they try to protect themselves against the territory’s unrest, IBM came up short of Wall Street’s revenue expectations in the latest quarter, the US House of Representatives voted to condemn president Donald Trump over his move to withdraw troops from Syria and American shoppers curbed their spending last month according to weak Commerce Department data. See acast.com/privacy for privacy and opt-out information.
Oct 16, 2019
Wednesday, October 16
The US House of Representatives passed an act voicing strong support for Hong Kong pro-democracy protesters, and Boris Johnson was on Tuesday night locked in a race against time to secure a Brexit deal. Plus, the IMF slashes global growth forecasts, Rudy Giuliani refuses to comply with a congressional subpoena that is part of the impeachment inquiry investigating Donald Trump, and the price of WeWork’s bonds dropped to new lows on Tuesday. Then, the FT’s Laura Noonan tells us why some bankers are still optimistic about the IPO market, even after WeWork’s failed attempt to go public. See acast.com/privacy for privacy and opt-out information.
Oct 15, 2019
Tuesday, October 15
Donald Trump imposes sanctions against Turkish officials, hopes fade for a Brexit deal at a European summit this week, Facebook admits doubts about its digital currency, Libra, as regulatory hurdles loom and African swine fever drives up European pork prices. Plus, the FT’s James Politi explains why the US-China trade truce reached last week is still fragile. See acast.com/privacy for privacy and opt-out information.
Oct 14, 2019
Monday, October 14
UK prime minister Boris Johnson gears up for what could be a historic week for Brexit ahead of the EU leaders’ summit, US banks enter the earnings season with the Federal Reserve in rate-cutting mode and the FT’s Andrew Edgecliffe-Johnson explains how in Levi Strauss’s rebirth as a public company, it still manages to meet its ‘profits through principles’ mission. See acast.com/privacy for privacy and opt-out information.
Oct 11, 2019
Friday, October 11
Sterling had its biggest day since March on Thursday amid hopes for a Brexit deal, James Murdoch’s new holding company has agreed to buy a minority stake in Vice Media and the US and China are aiming to reach a trade war truce as early as this week. Plus, the FT’s Frankfurt bureau chief Martin Arnold explains how the European Central Bank’s divide over quantitative easing is affecting the global economy. See acast.com/privacy for privacy and opt-out information.
Oct 10, 2019
Thursday, October 10
US senators will propose sanctions on Turkey after President Recep Tayyip Erdogan launched an offensive in north-east Syria, EU leaders issue an ultimatum to UK prime minister Boris Johnson ahead of crucial Brexit talks with his Irish counterpart Leo Varadkar and leaked documents show the European Central Bank decided to restart its bond-buying programme last month over the objections of its own officials. Plus, the FT’s Kadhim Shubber explains what options are still on the table for US Congressional Democrats after the White House said it would not cooperate in an impeachment inquiry. See acast.com/privacy for privacy and opt-out information.
Oct 9, 2019
Wednesday, October 9
US stocks staged a late-session sell-off on Tuesday after the Trump administration ratcheted up pressure on China ahead of trade talks after it imposed visa restrictions on individuals, at least 50 conservative UK MPs threaten to revolt against a general election manifesto that pledges to pursue a no-deal Brexit, and the White House has declared that it will not co-operate with the inquiry into an impeachment of Donald Trump. Plus, the FT’s Kiran Stacey explains how the US standoff with China now sees it encouraging investment in Huawei rivals in Europe. See acast.com/privacy for privacy and opt-out information.
Oct 8, 2019
Tuesday, October 8
Hong Kong Exchanges and Clearing says it will not proceed with its £32bn offer for the London Stock Exchange Group, the president of the World Bank warns that global growth could fall short of the 2.6 per cent rate it predicted in June and fallout from the protracted strike by General Motors workers has seen the total number of temporary suspensions mount to almost 60,000. Plus, Donald Trump clears Turkey to launch an operation against US-backed Kurds in Syria. The FT’s Laura Pitel explains what this means for the region. See acast.com/privacy for privacy and opt-out information.
Oct 7, 2019
Monday, October 7
HSBC embarks on a cost-cutting drive that threatens up to 10,000 jobs, 2020 presidential hopeful Joe Biden accuses US president Donald Trump of spreading “flat-out lies”, and a post-Brexit trade deal with the US could “severely limit” Britain’s ability to negotiate an equivalent agreement with the EU, according to a leaked government paper. Plus, the FT’s Sarah Neville explains how Novo Nordisk tries to balance rising prices when it comes to insulin products with giving back to the diabetic community. See acast.com/privacy for privacy and opt-out information.
Oct 4, 2019
Friday, October 4
Donald Trump urges China to investigate former US vice president Joe Biden and the FT’s Washington bureau chief Demetri Sevastopulo explains how Mr Biden is handling the Ukrainegate fallout. Plus, the UK and the US agree to a deal where police and intelligence agencies are to be given expedited access to the electronic communications of terror and crime suspects, and PayPal is on the verge of quitting Facebook’s Libra cryptocurrency project. See acast.com/privacy for privacy and opt-out information.
Oct 3, 2019
Thursday, October 3
Global stocks fell heavily on Wednesday, with the UK market having its worst day in more than three years, while the Trump administration will move to impose tariffs on a wide range of imports from the EU later this month after prevailing in a WTO case over illegal aircraft subsidies, and Donald Trump says he will co-operate with congressional subpoenas related to the impeachment inquiry engulfing his presidency. Plus, the FT’s Sebastian Payne dissects Boris Johnson’s UK Conservative party conference speech and the prime minister’s new Brexit plan. See acast.com/privacy for privacy and opt-out information.
Oct 2, 2019
Wednesday, October 2
The US manufacturing sector contracted for the second consecutive month in September, falling to its lowest level since the recession, Charles Schwab escalates a war among stock-trading platforms by scrapping its fees, and a US appeals court rules that states can set their own standards over so-called “net neutrality”. Plus, the FT’s Sam Jones explains the deepening Credit Suisse spy scandal. See acast.com/privacy for privacy and opt-out information.
Oct 1, 2019
Tuesday, October 1
US Republican Senate majority leader Mitch McConnell said he would hold a trial in the Senate if the House of Representatives voted to impeach President Donald Trump, European central bankers put pressure on politicians to put limits on the mortgage market as house prices heat up, and WeWork has formally withdrawn its plan for an initial public offering. Plus, the FT’s Anjli Raval explains how oil companies such as Royal Dutch Shell are facing a dilemma as they try to move toward clean energy. See acast.com/privacy for privacy and opt-out information.
Sep 30, 2019
Monday, September 30
Global dealmaking eases to the slowest pace in more than two years and more than 400,000 German car owners sign up to a landmark collective lawsuit against Volkswagen over emissions test cheating. Plus, the FT’s George Parker reports from the UK Conservative party conference in Manchester and we hear from a protester in Hong Kong, five years after the territory’s last major pro-democracy campaign. See acast.com/privacy for privacy and opt-out information.
Sep 27, 2019
Friday, September 27
The White House faced accusations of a cover-up on Thursday after the publication of a whistleblower complaint, Peloton traded below the company’s float price after the fitness equipment company went public on Thursday and Hollywood talent agency owner Endeavor shelved its plans to list. Plus, the FT’s Mehreen Khan explains what a decision by Europe’s highest court means for search engines and the “right to be forgotten” online. See acast.com/privacy for privacy and opt-out information.
Sep 26, 2019
Thursday, September 26
A memo from the White House reveals that US president Donald Trump asked Ukraine president Volodymyr Zelensky to investigate former vice-president Joe Biden and his son and UK prime minister Boris Johnson paves the way for an acrimonious “people versus parliament” general election. Plus, fitness equipment start-up Peloton will seek an $8.2bn valuation when its shares begin trading on Thursday and Germany’s representative on the European Central Bank’s executive board quits over loose monetary policy. See acast.com/privacy for privacy and opt-out information.
Sep 25, 2019
Wednesday, September 25
House Democrats have launched impeachment proceedings against US president Donald Trump and Adam Neumann has been pushed out as chief executive of WeWork following the dramatic collapse of its initial public offering. Plus, the FT’s chief foreign affairs commentator, Gideon Rachman, sets out what is next for Boris Johnson and British politics following the Supreme Court’s rebuke of the prime minister’s suspension of parliament. See acast.com/privacy for privacy and opt-out information.
Sep 24, 2019
Tuesday, September 24
UK prime minister Boris Johnson calls for a new deal with Iran, Netflix sees its shares erase all gains for 2019 while Barclays analysts question if its valuation was too high, and Thomas Cook’s management faces a UK government-backed inquiry after the collapse of the travel group. Plus, the FT’s car industry correspondent Peter Campbell explains what a recent settlement with the Securities and Exchange Commission means for Carlos Ghosn and Nissan. See acast.com/privacy for privacy and opt-out information.
Sep 23, 2019
Monday, September 23
SoftBank moves to oust Adam Neumann as the chief executive of WeWork, US president Donald Trump and Indian prime minister Narendra Modi perform a double act at a rally of nearly 50,000 Indian-Americans in Texas and Jeremy Corbyn calls rumours he could soon step down as Labour leader “wishful thinking” during the party’s annual conference. Plus, world leaders will gather in New York City this week for the UN General Assembly and the UN climate summit. The FT’s Gillian Tett tells us what to expect. Sign up for the FT's Moral Money email newsletter at ft.com/moralmoney. See acast.com/privacy for privacy and opt-out information.
Sep 20, 2019
Friday, September 20
Saudi Arabia is pressuring wealthy families to buy in to the initial public offering of state oil giant Saudi Aramco, the Federal Reserve intervened in the US money markets for the third day in a row on Thursday and promised it would so again today, Sterling climbed back over the $1.25 mark on Thursday after European Commission president Jean-Claude Juncker said a Brexit deal was possible, and companies are racing to burnish their green credentials ahead of today’s global climate protest. Plus, the FT’s Anna Nicolaou tells us why Netflix is starting to look vulnerable. See acast.com/privacy for privacy and opt-out information.
Sep 19, 2019
Thursday, September 19
Canadian prime minister Justin Trudeau apologises for wearing brownface makeup at a private school party after Time magazine published a yearbook photo from 2001, Cisco chief executive Chuck Robbins dismisses fears of a breakdown in global supply chains, saying he expects Washington and Beijing to reach a deal ending their trade war, KPMG UK plans to cut hundreds of staff in a wave of cost-cutting, and shares in FedEx tumbled on Wednesday, a day after the company reported its weakest sales growth in a decade. Plus, the Federal Reserve cut US interest rates by a quarter point on Wednesday. Our US economics editor, Brendan Greeley, unpacks the move. See acast.com/privacy for privacy and opt-out information.
Sep 18, 2019
Wednesday, September 18
The Federal Reserve Bank of New York announces plans to inject another $75bn into the US financial system to alleviate funding pressures in short-term lending markets, researchers find that smart TVs are leaking sensitive user data to companies including Netflix and Google and Israeli prime minister Benjamin Netanyahu fails to clinch an outright majority for his Likud party in Tuesday’s general election. Plus, the FT’s chief economics commentator, Martin Wolf, says economies are not delivering for most citizens. He tells us what corporations can do to fix the damage. FT.com is free to read today for #FTOpenDay. You can read all of the stories linked below without hitting the paywall. Take a look at the stories we covered in today’s briefing: Fed plans second intervention to ease funding squeeze https://www.ft.com/content/2c11a972-d941-11e9-8f9b-77216ebe1f17 Benjamin Netanyahu left vulnerable by inconclusive Israel election https://www.ft.com/content/828ac962-d984-11e9…
Sep 17, 2019
Tuesday, September 17
WeWork postponed its initial public offering on Monday night after struggling to drum up investor interest, US president Donald Trump says he has struck an “initial” deal on tariff barriers with Japan, EU chiefs say that UK prime minister Boris Johnson brought no fresh proposals to the table during Monday’s Brexit talks in Luxembourg and billionaire philanthropist Bill Gates says the world is “nowhere near” hitting the United Nations’ Sustainable Development Goals. Plus, the FT’s Peter Wells explains how the attack on Saudi Arabia’s major crude processing plant over the weekend will have an effect on the global economy. See acast.com/privacy for privacy and opt-out information.
Sep 16, 2019
Monday, September 16
Saudi Arabia faces weeks without full crude production capacity after an attack on the world’s most important oil facility, China’s formerly acquisitive companies have become net sellers of global assets this year for the first time in a decade, thousands of General Motors workers are set to strike after talks broke down over pay and healthcare benefits at the company’s US factories and Brexit secretary Steve Barclay said that Britain could stay in a standstill transition deal with the EU until the end of 2022. Plus, the FT’s Mehul Srivastava tells us what is at stake Israel’s second election of the year. See acast.com/privacy for privacy and opt-out information.
Sep 13, 2019
Friday, September 13
WeWork’s executives, investors and advisers are discussing curbing the voting power of co-founder Adam Neumann, Speaker of the UK House of Commons John Bercow warns prime minister Boris Johnson that he will allow parliament to do whatever it takes to avoid a no-deal Brexit, British Airways cancels flights on September 27 because of a planned pilot strike, dentistry company SmileDirectClub sees price shares tumble in its public market debut and Hong Kong Exchanges and Clearing is prepared to sweeten the terms of its £32bn offer for the London Stock Exchange Group. Plus, the FT’s Frankfurt editor Martin Arnold explains how the European Central Bank’s historic package of rate cuts and economic stimulus will affect the eurozone economy. See acast.com/privacy for privacy and opt-out information.
Sep 12, 2019
Thursday, September 12
Purdue Pharma and its controlling Sackler family members strike a preliminary deal with several US states and local governments to resolve legal claims stemming from the opioid crisis, the FT reports that the Pentagon is compiling a list of companies with ties to the Chinese military and the UK government releases the controversial “Operation Yellowhammer” document that outlines the potential damage from a no-deal Brexit. Plus, the FT’s Philip Stafford explains why investors have given a cold shoulder to Hong Kong Exchanges and Clearing's £32bn bid for the London Stock Exchange. See acast.com/privacy for privacy and opt-out information.
Sep 11, 2019
Wednesday, September 11
Apple unveils the iPhone 11 and undercuts streaming rivals Netflix and Disney with a $4.99-a-month price tag for its TV+ service, and Uber cuts more than 400 engineering and product jobs in the second round of lay-offs since its May stock market listing. Plus, exercise start-up Peloton is eyeing a valuation of up to $8.2bn in its initial public offering and Margrethe Vestager holds on to a beefed-up competition role in the new European Commission. Also, the FT’s US managing editor, Peter Spiegel, unpacks the firing of US national security adviser John Bolton. See acast.com/privacy for privacy and opt-out information.
Sep 10, 2019
Tuesday, September 10
Softbank, the biggest outside shareholder in WeWork, is urging the lossmaking property group to shelve its hotly anticipated initial public offering, attorneys-general from 50 US states and territories launch an investigation into Google’s dominance in online search and advertising and UK prime minister Boris Johnson loses a second attempt to hold a snap election to break Britain’s Brexit impasse. Plus, the FT’s Nicholas Megaw explains how the mis-selling of payment protection insurance caused a £50bn British banking scandal. See acast.com/privacy for privacy and opt-out information.
Sep 9, 2019
Monday, September 9
A study found that nearly 40 per cent of worldwide foreign direct investment is used as a vehicle for financial engineering to minimise companies’ tax liabilities, and British Airways cancelled about 50 mostly UK-bound flights on Sunday as the airline braces for a two-day pilot strike. Plus, exports from China fell in August as the country’s trade dispute with the US took a heavier than expected toll on the manufacturing sector and Saudi Arabia has removed energy minister Khalid al-Falih, one of the most powerful figures in the global oil industry. Also, the FT’s Jim Pickard previews the week ahead in UK politics and what it could mean for Brexit. See acast.com/privacy for privacy and opt-out information.
Sep 6, 2019
Friday, September 6
UK Labour MPs appear set to reject Boris Johnson’s push for a snap election and US Treasury secretary Steven Mnuchin moves to return Fannie Mae and Freddie Mac to private ownership. Plus, WeWork expects to be valued at less than half of the $47bn figure reached in its last round of funding from Japan’s SoftBank and news that the US and China will resume trade negotiations sent Wall Street equities higher on Thursday. Also, the FT’s Shanghai correspondent, Tom Hancock, explains why China’s tech groups, including Alibaba, have poured money into physical retail and how that bet worked out for them. See acast.com/privacy for privacy and opt-out information.
Sep 5, 2019
Thursday, September 5
Boris Johnson suffered two major defeats on Wednesday as MPs backed legislation to stop a no-deal Brexit and then blocked the prime minister’s attempt to call an election to regain the initiative on Brexit. Plus, workplace chat app Slack posted strong revenue growth and predicted bigger losses during its debut results since going public, Hong Kong’s chief executive Carrie Lam withdrew the controversial extradition bill that sparked three months of protests, Apple returned to the bond market for the first time since 2017 and YouTube and its parent company, Google, agreed to pay $170m to US regulators after being accused of violating children’s privacy. Also, the FT’s Madhumita Murgia explains how Google has been accused of secretly feeding personal data to advertisers. See acast.com/privacy for privacy and opt-out information.
Sep 4, 2019
Wednesday, September 4
UK Conservative rebels inflict a Commons defeat on prime minister Boris Johnson’s Brexit policy, leaving Britain on the brink of a general election. Plus, Italy’s Five Star Movement votes heavily in favour of a coalition with a centre-left rival, Walmart introduces new restrictions on sales of ammunition a month after a mass shooting occurred at one of its stores, and the US manufacturing sector contracts for the first time since 2016 amid global trade tensions and fears of slowing domestic growth. See acast.com/privacy for privacy and opt-out information.
Sep 3, 2019
Tuesday, September 3
UK prime minister Boris Johnson threatens to call an October 14 general election if rebel Tory MPs join forces with Labour today, Germany’s export-dependent economy is suffering from a Brexit shock as a potential recession looms and the long-running merger talks between Allen & Overy and O’Melveny & Myers collapse. Plus, the FT’s Hannah Kuchler goes into the history of Verily, the health organisation spun out of Google’s secretive research facility. See acast.com/privacy for privacy and opt-out information.
Sep 2, 2019
Monday, September 2
In a Labor Day special episode, as Philip Morris International enters into merger talks with Altria, we take a look at the evolution of the tobacco industry. Plus, the World Bank estimates that in 2019, some 270m migrants globally will send a combined $689bn back home. We take a look at remittances and the way they are affecting economies. See acast.com/privacy for privacy and opt-out information.
Aug 30, 2019
Friday, August 30
US companies are unlikely to heed Donald Trump’s call to ditch their investments in China, Argentina’s request for more time to pay $101bn of debts meets a cool reception from the country’s creditors, and UK prime minister Boris Johnson is sending his chief Brexit negotiator to meet with EU counterparts to hammer out a revised exit deal. Plus, the FT’s James Politi walks us through the legacy Christine Lagarde leaves at the IMF and what it might say about her future as the incoming president of the European Central Bank. See acast.com/privacy for privacy and opt-out information.
Aug 29, 2019
Thursday, August 29
Italy appears to be heading towards a new government after the far-right is sidelined and two parties say they have reached a tentative coalition deal, Apple apologises for listening to the audio of recorded Siri conversations and Japan’s biggest internet auction site has banned trading in ivory. Plus, the FT’s Jim Pickard explains UK prime minister Boris Johnson’s move to suspend parliament and what happens next. See acast.com/privacy for privacy and opt-out information.
Aug 28, 2019
Wednesday, August 28
Opioid maker Purdue Pharma and members of the controlling Sackler family have offered to settle thousands of lawsuits against the company for $10bn-$12bn, Phillip Morris International is in talks to merge with Altria in a deal that would create the world’s largest tobacco group, UK opposition parties agree to pursue legislation to prevent a no-deal Brexit, the Federal Reserve is forced to re-assert that “political considerations play absolutely no role” in policymaking and Amazon and Microsoft go unchallenged in a $10bn Pentagon cloud computing contract. Plus, the FT’s global finance correspondent Robin Wigglesworth explains why investors are concerned that the world economy is succumbing to “Japanification”. See acast.com/privacy for privacy and opt-out information.
Aug 27, 2019
Tuesday, August 27
Drugmakers could decide to settle thousands of claims against them over the opioid crisis after a $572m court order against Johnson & Johnson, President Trump says China is seeking talks on a deal to end the ongoing trade war between the two countries and New York-based hedge fund manager, Autonomy Capital, saw its fund lose more than 16 per cent in the first two weeks of August as a result of Argentina’s financial market meltdown. Plus, the FT’s Brazil bureau chief Bryan Harris talks about a backlash against Brazilian business over the Amazon rainforest fires. See acast.com/privacy for privacy and opt-out information.
Aug 26, 2019
Monday, August 26
In a Summer Bank Holiday special episode, we look at Wall Street’s pressure on private prisons and why some of the top global cities are shrinking. See acast.com/privacy for privacy and opt-out information.
Aug 23, 2019
Friday, August 23
A harbinger of a recession, the yield on the two-year Treasury bill rose above that of the benchmark 10-year note again on Thursday as the world’s central bankers convened in Jackson Hole, Wyoming. Plus, intensifying regulatory scrutiny of Facebook’s Libra digital currency has spooked some of the project’s early backers, and Brazil’s environment minister says the solution to illegal logging in the Amazon is to “monetise” it. Then, the FT’s Victor Mallet previews what might come out of this weekend’s G7 summit. See acast.com/privacy for privacy and opt-out information.
Aug 22, 2019
Thursday, August 22
European Commission officials tell the FT they are planning news rules that will give EU citizens explicit rights over the use of their facial recognition data, the IMF backs the scrapping of a longstanding age restriction, clearing the way for Kristalina Georgieva to take the top spot, President Emmanuel Macron of France scraps the tradition of a joint final communiqué at the G7 summit and minutes from the Federal Reserve’s July meeting reveal a split among officials over the July interest rate cut. Plus, the FT’s US economics editor, Brendan Greeley, tells us what the world’s monetary policymakers will be discussing in Jackson Hole, Wyoming this weekend. See acast.com/privacy for privacy and opt-out information.
Aug 21, 2019
Wednesday, August 21
US president Donald Trump considers tax cuts to stimulate the economy and Italian prime minister Giuseppe Conte resigns. Also, US regulators rewrite the Volcker rule, Facebook launches a new privacy tool pilot and Walmart sues Tesla over solar panel fires. Plus, the FT’s Seb Payne unpacks the stand-off between Boris Johnson and European Council president Donald Tusk over Britain’s withdrawal agreement from the EU. See acast.com/privacy for privacy and opt-out information.
Aug 20, 2019
Tuesday, August 20
Apple commits more than $6bn for original shows and movies ahead of the launch of its new video streaming service and UK prime minister Boris Johnson intensifies his efforts to jettison the Irish border backstop from the Brexit withdrawal agreement. Also, Facebook and Twitter move to curb Chinese state-backed disinformation campaigns that target pro-democracy Hong Kong protesters, the Trump administration gives Huawei a temporary reprieve, the US trade commission head says it would be difficult to break up Facebook and court papers reveal that Jeffrey Epstein signed a will two days before he died. Plus, the FT’s Richard Henderson explains why the group of top US executives comprising the Business Roundtable are ditching “shareholder primacy”. See acast.com/privacy for privacy and opt-out information.
Aug 19, 2019
Monday, August 19
A body advising the European Central Bank warns that European banks and other financial institutions need to speed up their preparations for the phasing out of a key interest rate benchmark, top White House economic advisor Larry Kudlow says there is no recession coming, Donald Trump casts doubt on any Huawei reprieve and Hong Kong protesters rally in defiance of Beijing. Plus, the FT’s Madhumita Murgia explains how facial recognition software is creeping into security cameras in parts of London. See acast.com/privacy for privacy and opt-out information.
Aug 16, 2019
Friday, August 16
Gibraltar releases an Iranian tanker after a court sets aside a last-minute legal bid from the US to seize the vessel and Walmart raises its outlook for the US market while government data show unexpectedly strong retail sales for July in the country. Plus, the yield on 30-year US government bonds falls below 2 per cent for the first time on Thursday, China’s paramilitary police converge in a stadium near the Hong Kong border and Israel bars two US congresswomen from entering the country. Also, the FT’s Patrick McGee tests out the Apple Card, which will be rolled out to US users later this month. See acast.com/privacy for privacy and opt-out information.
Aug 15, 2019
Thursday, August 15
US equities fell 3 per cent on Wednesday on fears of slowing global growth, while bond markets signalled the chances of a mounting recession and WeWork unveiled its prospectus for a $3bn-$4bn initial public offering. Plus, UK Labour party leader Jeremy Corbyn sets out a proposal for a temporary government that would help delay Brexit, Canada’s ethics watchdog says Justin Trudeau violated conflict-of-interest law and PayPal targets growing demand from India’s mobile users. See acast.com/privacy for privacy and opt-out information.
Aug 14, 2019
Wednesday, August 14
US stocks and China’s currency rallied sharply on Tuesday after Washington announced a delay to some additional tariffs on Chinese imports, hundreds of flights out of Hong Kong are cancelled for the second day in a row after protesters clash with police, CBS and Viacom agree on an all-stock merger and Facebook has halted the “human review” of recorded voice messages. Plus, the FT’s Tim Bradshaw explains plans that SoftBank’s Masayoshi Son has in store for the group’s second Vision Fund. See acast.com/privacy for privacy and opt-out information.
Aug 13, 2019
Tuesday, August 13
Investors see the odds of an Argentine debt default soaring after opposition candidate Alberto Fernández’s victory in primary elections, the US yield curve flattened to levels not seen since before the financial crisis and consulting group KPMG ousted the head of its UK financial services unit after an investigation into his conduct involving messages sent on WhatsApp. Plus, the FT’s senior energy correspondent, Anjli Raval, unpacks Saudi Aramco’s first-ever earnings call in the lead up to its expected initial public offering. See acast.com/privacy for privacy and opt-out information.
Aug 12, 2019
Monday, August 12
Global investment banks are shedding almost 30,000 jobs as the outlook for the sector deteriorates, BlackRock buys an $870m stake in Authentic Brands, which owns the brand rights to Marilyn Monroe and Elvis Presley and British workers travelling to the EU will be unable to carry out even basic business tasks after a no-deal Brexit unless they navigate a complex web of work permits. Plus, money manager and accused sex trafficker Jeffrey Epstein was found dead in a New York jail cell on Saturday. The FT’s Kadhim Shubber explains what this might mean for the alleged victims. See acast.com/privacy for privacy and opt-out information.
Aug 9, 2019
Friday, August 9
Uber posts a $5.2 billion loss as costs from its initial public offering hit earnings, Italy’s prime minister Giuseppe Conte asks for parliament to be recalled so he can hold a vote of confidence and US stocks notched their biggest jump in two months on Thursday after upbeat Chinese data soothed investors’ nerves. Also, Broadcom agrees a deal to acquire Symantec’s enterprise security business for $10.7bn, Kraft Heinz takes another $1.2bn in writedowns, UK prime minister Boris Johnson eyes an election in the days after Brexit and sources tell the FT that at least nine senior figures have been removed from their posts at Turkey’s central bank. Plus, the FT’s US mergers and acquisitions correspondent, Eric Platt, tells us about WeWork’s corporate structure revamp as it prepares to go public. See acast.com/privacy for privacy and opt-out information.
Aug 8, 2019
Thursday, August 8
US stocks closed in positive territory on Wednesday as investors pushed back against deepening concerns over global growth, and the Trump administration is cracking down on Huawei and other Chinese companies seen as security threats. Plus, Broadcom revives talks with Symantec, Russia’s state-owned oil company becomes the last major supplier of petrol to Venezuela, US secretary of state Mike Pompeo said America would be ready to sign a new trade deal with the UK after it leaves the EU and Lyft raises its 2019 financial forecasts. Also, the FT’s Richard Waters tells us about the San Francisco-based research group pursuing the Holy Grail of artificial intelligence. See acast.com/privacy for privacy and opt-out information.
Aug 7, 2019
Wednesday, August 7
Disney shares fall as the company misses earnings estimates in its most recent quarter, Facebook sues two app developers for advertising fraud and Match Group raises earnings guidance for 2019 after a strong boost to Tinder subscribers in the second quarter. Plus, the FT’s US economics editor, Brendan Greely, explains why the Trump administration has few tools to weaken the dollar. See acast.com/privacy for privacy and opt-out information.