FT News Briefing

President Joe Biden has moved to have the US rejoin the Paris climate accord, but becoming a leader in lowering carbon emissions will not be so easy. Then, a look at how the European Central Bank is bracing for the latest phase of the pandemic-induced economic crisis. Plus, the FT’s art market columnist, Melanie Gerlis, explains how auction houses and galleries are surviving and adapting to the pandemic. The US will rejoin the Paris climate accord — what happens now?ft.com/content/81dd2826-55b6-44c2-b981-88717ec70314?ECB details bond-buying shift as it holds rates and stimulus steadyhttps://www.ft.com/content/14821fa0-0e3e-4a95-8414-53a257ee9142Art market: Predictions for 2021https://www.ft.com/content/86c27d1c-ff65-40a2-b6b2-d4add0209ffa Hosted on Acast. See acast.com/privacy for more information.

Company leaders have warned they will fight Biden Administration moves to raise corporate taxes and tighten regulation, and earnings reports show that big US banks had a strong end to 2020 thanks to trading. Plus, the FT’s Javier Espinoza continues his conversation with the European Commission’s competition and digital policy chief, Margrethe Vestager, about the future of big tech regulation. Business to Biden: prepare for a fight over tax and minimum wagehttps://www.ft.com/content/7027014e-9478-4320-97ee-a1c8144b4638Vestager warns Big Tech to cooperate or face patchwork of laws across EUhttps://www.ft.com/content/2bd619a2-dee0-492a-b397-73a0ba00e369Morgan Stanley posts record profit as trading boomshttps://www.ft.com/content/0f44d1b7-d79f-4c2a-b45e-d4c2d0ce4637 Hosted on Acast. See acast.com/privacy for more information.

Joe Biden faces a long list of challenges after he is sworn in as the 46th US president today, Mr Biden’s nominee to serve as Treasury secretary, Janet Yellen, told Congress to “go big” on stimulus during her Senate confirmation hearing on Tuesday, and a US court has struck down the pro-coal power sector rules set by the outgoing president, Donald Trump. Plus, the FT’s Javier Espinoza speaks with Margrethe Vestager, the EU’s executive vice-president in charge of digital policy, about the future of tech regulation. Joe Biden’s challenge: big, early victories in a toxic political climate https://www.ft.com/content/fa01bc64-a80c-4c32-abad-f8eb778c4fe6US court strikes down Trump’s pro-coal power sector ruleshttps://www.ft.com/content/fed06dac-7c84-47be-a137-0480518a9e98Vestager warns Big Tech to cooperate or face patchwork of laws across EUhttps://www.ft.com/content/2bd619a2-dee0-492a-b397-73a0ba00e369Netflix signals stock buybacks to come as subscribers hit 200mhttps://www.ft.com/content/ae6f0ad5-a685-4eab-86f5-a65e8c7021ef Hosted on Acast. See acast.com/privacy for more information.

The cost of shipping goods from China to Europe has more than tripled in the past eight weeks as the pandemic disrupts global trade, Russian opposition activist Alexei Navalny has been sent to prison just a day after returning to his home country despite international demands to release him, and Italian prime minister Guissepe Conte faces a crunch confidence vote by lawmakers today. Plus, the FT’s US investment editor, Michael MacKenzie, explains why the chief executive of Brookfield Asset management thinks the markets have undervalued real estate.   Tripling of China-Europe shipping costs threatens to hit goods supply ft.com/content/ad5e1a80-cecf-4b18-9035-ee50be9adfc6?Russia jails opposition activist Alexei Navalny for 30 dayshttps://www.ft.com/content/9c42f190-5ec2-4ad7-8bc6-f9e449200a9fItalian coalition parties back PM Conte after resignationshttps://www.ft.com/content/4cf07e94-d7ad-408c-bf08-1093318c8b48Markets are underestimating the lure of the office, says Brookfield chief https://www.ft.com/content/0316678b-664a-42f8-900a-5c5b5076e29e? Hosted on Acast. See acast.com/privacy for more information.

Thousands of National Guard troops are being deployed to Washington to safeguard the capital for the inauguration of Joe Biden. The president-elect is already planning which executive orders he will sign, but there is still time for President Trump’s secretary of state to leave his mark on foreign policy. Germany’s ruling party, the Christian Democratic Union, has a new leader to replace Angela Merkel. Plus, the FT’s Tim Bradshaw reports that the pandemic tech boom is leaving cities with better logistics networks.  Washington fortified for Biden’s inauguration amid fears of more violencehttps://www.ft.com/content/94db9b9b-243b-4ce8-9e10-452fadc523ecPompeo tries to pin Biden down with parting foreign policy blitzhttps://www.ft.com/content/2b4e9369-8da5-4d12-b720-59b68a2136e6Angela Merkel’s heir apparent: Armin Laschet’s rise to the summit of German politicshttps://www.ft.com/content/371d6d1b-d95e-4d69-a3b3-b89ae71c03d7The pandemic tech boom is reshaping our cities  https://www.ft.com/content/40c3a928-6faf-4746-903d-3a114aac3878Indonesia deploys social media influencers in vaccine drivehttps://www.ft.com/content/adb9d6c6-ab89-4fe4-aae9-4b226e5f879f Hosted on Acast. See acast.com/privacy for more information.

Joe Biden plans to ask Congress for a $1.9tn economic rescue package, Federal Reserve chairman Jay Powell assures markets that asset purchases will continue, four big US banks report quarterly earnings, and far-right groups find alternative internet platforms to rally for further unrest. Plus, the FT’s Guy Chazan on who is vying to replace Angela Merkel as leader of Germany’s ruling party. Biden to push $1.9tn stimulus for pandemic-battered US economyhttps://www.ft.com/content/05e07e0d-1f2a-45da-bafb-367f4100c26aPowell moves to stamp out market fear of exit from loose policyhttps://www.ft.com/content/21d89f6d-be8f-48dc-9085-1e9baabcbdbeTop US banks set for $10bn round of buybackshttps://www.ft.com/content/c2b155a3-8901-4011-be32-fde3f4bad740Far-right turns to alternative platforms to stoke further unresthttps://www.ft.com/content/f5c4679b-20c5-4b68-bb6d-958f17385183?After Merkel: the battle for the soul of the Christian Democratic Unionhttps://www.ft.com/content/ce034f34-cbc6-4ea9-8c16-41fc939fc0fe Hosted on Acast. See acast.com/privacy for more information.

Donald Trump has become the first US president in history to be impeached twice, New York City cuts business ties with the Trump Organization, and the City of London has a post-pandemic recovery plan. Plus, the FT’s Beijing bureau chief, Tom Mitchell, explains what the clash between Jack Ma and Beijing means for China’s private sector. Donald Trump is impeached for second timehttps://www.ft.com/content/fc81c3df-f6c0-47c2-8efc-5a14d511f7e7New York City is latest to cut ties with Trump businesseshttps://www.ft.com/content/11b92247-b405-4e03-808d-2b802c63ff38Jack Ma vs Xi Jinping: the future of private business in Chinahttps://www.ft.com/content/751c2500-f50d-47c9-8f04-a28ad62285fd?segmentId=6bf9295a-189d-71c6-18fb-d469f27d3523City of London sets out five year post-pandemic recovery planft.com/content/91c887fc-29ef-472f-8e3f-22cb7d21573a? Hosted on Acast. See acast.com/privacy for more information.

Facebook-owned WhatsApp is scrambling to stave off privacy concerns following a recent update to its terms of service; greenhouse gas emissions in the US rose less in 2020 than in any year since the second world war; China’s fast-growing tech industry is in the spotlight for harsh working conditions. Plus, the FT’s Richard Waters reports on the growth of Microsoft Teams and what it could mean for the future of online work.What’sApp fights back as users flee to Signal and Telegram https://www.ft.com/content/ee1b716d-4ed2-4b26-8da1-40c98db7b9b6?US emissions rise the least since second world war during pandemic ft.com/content/1b1dfaf0-4dfb-4788-9270-f880242b2a56?Pinduoduo hit by new allegations over working practiceshttps://www.ft.com/content/cc7aa0f0-ca28-4bf1-a3a1-823cc5e6fad1Microsoft looks to make 2021 the year of Teamshttps://www.ft.com/content/1bbe1b15-dde6-4a3b-9728-8991818b6c92 Hosted on Acast. See acast.com/privacy for more information.

U-S corporations are reviewing their political donations after the attack on the Capitol building, and research has found the huge global cyber espionage campaign discovered last month was carried out using tools similar to those developed by known Russian hacking group, Turla. Plus, the FT’s Turkey correspondent, Laura Pitel, explains how Recep Tayyip Erdogan’s aggressive foreign policy moves have left Ankara isolated from the west. Corporate American pulls political donations after assault on Capitol https://www.ft.com/content/be344816-3fab-42e2-99ed-38309d06a435SolarWinds cyber attack linked to tools used by Russian hacking grouphttps://www.ft.com/content/e1b247d5-ef53-4e82-afc3-9e3c2d7c5e2cErdogan’s great game: Soldiers, spies and Turkey’s quest for powerhttps://www.ft.com/content/8052b8aa-62b9-40c9-a40c-d7187d5cd98a? Hosted on Acast. See acast.com/privacy for more information.

Technology companies are blocking President Donald Trump from their platforms, renters fleeing U-S cities are straining the market for  mortgage-backed securities, and Europe tries to enforce its investment deal with China. Plus, the Consumer Electronics Show kicks off, virtually.Twitter vs Trump: has Big Tech gone too far?ft.com/content/6df12c33-e7a3-482b-92da-8c3549789a6b?Fading allure of urban life leaves dent on US mortgage bonds ft.com/content/67cb87c0-ef93-410f-90bc-60ffaf42af5e?EU and China agree new investment treatyhttps://www.ft.com/content/6a429460-4bfb-42d4-9191-73ba97dde130CES enters the pandemic era, taking a turn for the practicalhttps://www.ft.com/content/5c6b159c-da65-439f-8831-708cc0930aae Hosted on Acast. See acast.com/privacy for more information.

President Trump concedes power for the first time and calls for an orderly transition: the FT’s US managing editor Peter Spiegel looks at how Joe Biden can unite a divided nation; global markets have continued rising despite the chaos in Washington; Boeing agrees to pay $2.5bn to resolve a criminal charge stemming from the 737 Max crashes; and counter-culture icon Neil Young cashes in on the music streaming boom. Democratic leaders call on Pence to force Trump from White House https://www.ft.com/content/cecab0e3-ddb6-40fa-a78b-1d98fb3f7759Boeing to pay $2.5bn to resolve criminal case over 737 Max crashes https://www.ft.com/content/1e64a9ea-4659-4513-b82f-0a4b5e7cae1cBlue sweep of Congress will add pressure to weak dollar, analysts sayhttps://www.ft.com/content/9e58d2fb-37c5-432e-b4c6-dcf862d43b7dNeil Young joins music rights gold rush after striking Hipgnosis dealhttps://www.ft.com/content/dd67a2ab-d6e1-4334-ae45-ef1bf65f1e82Review clip: Silver Fiddle Music, Hipgnosis Hosted on Acast. See acast.com/privacy for more information.

Congressional leaders reconvened on Wednesday night to certify Joe Biden’s victory in November’s presidential election, defying pro-Trump rioters who attempted to scupper the process by storming the Capitol earlier in the day. The FT’s US managing editor, Peter Spiegel, reports on a frantic day in Washington. Further reading:Angry mobs of Trump supporters interrupt transfer of powerhttps://www.ft.com/content/9a37c259-f7c8-4cca-9a00-83e7e5b9287d‘Blue wave’ trade back on after Georgia Senate pollhttps://www.ft.com/content/15c8d75b-07dd-4382-8b98-bcc8fa0c900aNew York Stock Exchange reverse course again on China delistingshttps://www.ft.com/content/83cd59a9-05ba-4639-8ee4-2cb6c04e89e2 Hosted on Acast. See acast.com/privacy for more information.

Saudi Arabia pledged to cut an extra 1m barrels a day of oil output in February and March, and also has agreed to end its dispute with Qatar. Plus, the FT’s US business editor, Andrew Edgecliffe-Johnson, explains why businesses are making their voices heard when it comes to the Republican rebellion against the outcome of the presidential election. Saudis pledge to cut oil output despite Russian increasesft.com/content/c5468924-5383-4717-81c8-5d0658748f31?Saudi Arabia and allies to restore ties with Qatarhttps://www.ft.com/content/ad2eb477-b8f8-4dae-9e4c-a441759fc897Diehard Trump Republicans on collision course with US businessft.com/content/9fe61a5e-b57a-4a99-8985-ad7867a500b0? Hosted on Acast. See acast.com/privacy for more information.

US equities had their worst day since October as spiking coronavirus cases and lockdowns shook investors, nearly €6bn of EU share dealing shifted away from London in the first trading day after Brexit, and China’s currency has rallied to its highest level in more than two years. Plus, the FT’s economics editor, Chris Giles, explains why the OECD’s top economist wants governments to rethink their constraints on public spending. EU shares trading flees London on First day after full Brexithttps://www.ft.com/content/a434b756-afe0-454d-9d70-ef2d42ea8d55Wall Street suffers worst day since October on virus advance https://www.ft.com/content/82e8a6ee-78a3-4ed1-aa13-bf6a67e58d97Renminbi rallies past 6.5 per dollar for first time since 2018https://www.ft.com/content/c91a70d8-001c-4924-9bfa-9b5c21099112OECD warns governments to rethink constraints on public spendinghttps://www.ft.com/content/7c721361-37a4-4a44-9117-6043afee0f6b Hosted on Acast. See acast.com/privacy for more information.

Businesses face a wave of new bureaucracy and checks at ports now that the UK is officially outside of the EU’s single market and customs union, European countries debate more restrictions aimed at containing the spread of coronavirus, and law firms ditch their UK trophy offices. Plus, the FT’s deputy markets news editor, Ian Smith, tells us about Bitcoin’s latest milestone. European countries set to extend lockdowns as Covid cases surgehttps://www.ft.com/content/3292fc38-7945-4d7e-b8ed-582146ebe782Bitcoin tops $34,000 as record-breaking rally resumeshttps://www.ft.com/content/314f6c8a-ff7f-4a52-b5d1-98eb36a7bf40Law firms ditch trophy office moves as pandemic reshapes Cityft.com/content/e4f4e5f1-72b7-458a-a7bd-eb361cdc970b?Payne’s Politics: Brexit has arrivedhttps://www.ft.com/content/4006f4bc-508e-4f5d-bd76-f6db05ef10f1 Hosted on Acast. See acast.com/privacy for more information.

Britain and the EU were finalising a historic post-Brexit agreement on Wednesday night.  Plus, Beijing’s market regulator has announced an antitrust investigation into Alibaba, China’s ban on Australian coal exports is hurting its companies, and the FT’s US business editor, Andrew Edgecliffe-Johnson, looks at 2020’s corporate winners and losers as well as who might rebound in 2021. Britain and EU poised to announce Christmas Eve Brexit dealft.com/content/4993212f-25c8-479e-83d6-f7db3731d1be?China launches antitrust investigation into Alibabaft.com/content/bdcc073f-3b70-4411-92d7-ee36973a8b7aPolitics come first’ as ban on Australian coal worsens China’s power cutshttps://www.ft.com/content/e83fffeb-3ef2-4b67-8989-6d17f153d8d4Prospering in the pandemic: the top 100 companieshttps://www.ft.com/content/844ed28c-8074-4856-bde0-20f3bf4cd8f0 Hosted on Acast. See acast.com/privacy for more information.

France is set to reopen its borders with the UK to truck drivers who test negative for Covid-19, Boris Johnson and European Commission president Ursula von der Leyen aim for a Brexit trade deal by tonight, the US government sues Walmart for links to the opioid epidemic, and the botched launch of the video game Cyberpunk 2077 has prompted a shift by Sony. Plus, the FT’s consumer industries reporter, Patricia Nilsson, reveals how the dominant player in online porn operates its business.  France to reopen border with UKft.com/content/e2d2e680-752a-44a5-b014-60cd837532e7Johnson and Von der Leyen intensify ‘hotline talks in Brexit deal push ft.com/content/3576910f-6c51-4ad0-8ad1-75fb51641747US sues Walmart alleging role in country’s opioid crisisft.com/content/2d9484ee-64a7-4bb6-8287-587f94c34b43?Cyberpunk 2077 debacle prompts shift by Sony ft.com/content/8af5618d-ca83-43f9-9f51-56b75ff9f181MindGeek: the secretive owner of Pornhub and RedTubeft.com/content/b50dc0a4-54a3-4ef6-88e0-3187511a67a2 Hosted on Acast. See acast.com/privacy for more information.

Global stock markets slipped and the price of oil declined on fears over the new strain of coronavirus sweeping through parts of Britain. The FT’s science editor, Clive Cookson, explains what scientists know about the strain and how it will affect efforts to beat the pandemic. Plus, SoftBank has filed to raise up to $604m from investors for its first blank-cheque listing, and upscale sportswear company Lululemon is making a push into overseas markets.Global stocks slip as new Covid strain unsettles investorshttps://www.ft.com/content/58ce50e1-fb49-4743-8f82-0a7a5ff1e896What we know about the new coronavirus strainhttps://www.ft.com/content/a8cf7f88-7bfc-46c5-bb25-a914266f0377SoftBank launches Spac, says it may buy one of its own investmentsft.com/content/65fd4a73-f277-415f-83b5-a3a68a5d4e27Lululemon plans overseas expansion as yogawear boomsft.com/content/c3ae04c5-ea00-452b-a33f-6a02adb5ca34? Hosted on Acast. See acast.com/privacy for more information.

Several EU countries have banned travel from the UK as scientists identify a new strain of Covid that is 70 percent more transmissable, in the US, lawmakers reached a deal on Sunday night over a new round of stimulus, and shopping sites delivering from China are rushing to build their own global freight networks. Plus, our Brexit editor asks whether the UK’s stock market can ever get its mojo back.Scientists alarmed at spread of Covid mutant https://www.ft.com/content/a0bef737-c763-447a-b1f3-0649dc5989a0US lawmakers reach deal on $900bn stimulus packagehttps://www.ft.com/content/6c953f0e-b229-42c1-959e-ef62196ef4d6Shopping sites in China are building their own global freight networkshttps://www.ft.com/content/8af9c8f3-7ab3-4316-b014-c00e7d8ec83dCan the UK stock market get its mojo back?https://www.ft.com/content/ca6e6558-c55a-478b-a35d-81958d0c2890 Hosted on Acast. See acast.com/privacy for more information.

Dozens of states and territories have launched the first US antitrust challenge to Google’s core search engine, and a surge of stockpiling by UK companies before the end of the Brexit transition period on January 1 has triggered road congestion in southern England and France. Plus, the FT’s Laura Noonan explains what we can expect out of the Federal Reserve’s stress test today and what they will tell us about US banks’s ability to handle the panemic. Google accused of abusing search monopoly as antitrust cases mounthttps://www.ft.com/content/709849fc-4148-4687-9924-0c61f0447f2dBrexit trade talks hit by fresh dispute over state aidft.com/content/2f508f4d-22e2-4deb-8d42-77a7c31fc53cBrexit stockpiling triggers cross-Channel freight crunchhttps://www.ft.com/content/77443600-8b40-47af-a807-60612ef2d928Global regulators to examine banks’ lending caution during pandemichttps://www.ft.com/content/6a09e064-9b94-4080-b696-5d347067eb4e Hosted on Acast. See acast.com/privacy for more information.

The US central bank  says it will keep buying at least $120bn of debt a month until “substantial further progress has been made” in the recovery, US regulators have hit Luckin Coffee with a $180m penalty in an accounting fraud settlement, and Massachusetts launches legal action against the online trading app Robinhood. Plus, the FT’s global finance correspondent, Robin Wigglesworth, explains why there is an uneven recovery in the US corporate landscape. Fed to extend debt purchases to boost flagging US economyhttps://www.ft.com/content/74b6530e-9d69-43f0-a5d7-3cb363ed5398America’s two-track economy: the small business credit crunchhttps://www.ft.com/content/1ae439b1-75e7-4b55-876c-66533ac37db8Massachusetts takes legal action against Robinhoodhttps://www.ft.com/content/0e451231-fa4c-4686-bf2f-a5e107f337b9Luckin Coffee to pay $180m in accounting fraud settlement ft.com/content/4db3b074-829f-4f1c-a256-11c7e28a31d1 Hosted on Acast. See acast.com/privacy for more information.

Spanish blue-chips have positioned themselves for tens of billions of euros in EU coronavirus aid, the UK is drawing up plans to turn London into a rival to Singapore as a hub for shipping companies, and online brokers are scrambling to hold on to customers acquired during a surge in account openings amid the pandemic. Plus, the FT’s energy correspondent, Nathalie Thomas, explains what a possible new nuclear power plant in England means for the UK’s clean energy goalsSpanish companies jostle for EU recovery fund billionsft.com/content/e56d8c25-a978-424d-be77-752292e72059?UK draws up plans to rival Singapore with post-Brexit shipping regimeft.com/content/251ec582-1a9d-4af2-8b8c-4caa5cecd18bInvestment platforms scramble to retain new customersft.com/content/899c6908-25fc-4b71-9cc4-0224926306fa?UK enters formal EDF talks over £20bn Sizewell C nuclear planthttps://www.ft.com/content/ff25b5b5-5eec-4c81-a9b2-6ef5cad4d9b0 Hosted on Acast. See acast.com/privacy for more information.

Presidential electors confirmed Joe Biden as the winner of the 2020 US election, and the Federal Reserve is poised to issue new guidance extending its emergency bond-buying programme. Plus, the FT’s Hannah Murphy explains what the US is doing in response to an infiltration by “nation-state” hackers into secure IT systems. US orders emergency action after huge cyber security breachhttps://www.ft.com/content/3a635e09-221c-49af-a582-97bc4e803747Electoral College set to confirm Joe Biden as next US presidenthttps://www.ft.com/content/fb5e17ae-7a15-4a88-b871-1db4036186feFederal reserve poised to extend crisis bond-buying programmehttps://www.ft.com/content/28db9e0a-9b6b-4e95-99e6-615ffcbdbaf8 Hosted on Acast. See acast.com/privacy for more information.

US doctors could administer the first authorised coronavirus shot as soon as today, an EY anti-fraud team warned in 2018 that “red-flag indicators” at Wirecard pointed to potential accounting manipulation, and Europe’s top financial regulators are set to approve lender payouts within strict limits. Plus, Boris Johnson and Ursula von der Leyen agreed to extend negotiations for a UK-EU trade agreement. The FT’s Brexit editor, David Bond, explains how that might play out over the next few weeks. Join us this Tuesday 15 December at 3pm GMT, for an essential webinar, hosted by expert FT journalists, to understand in 50 minutes what a Deal or a No Deal means for you and your business. Regardless of the outcome, learn how all the key areas may be impacted. Register free today at: https://webinars.on24.com/ftdigitaldialogues/brexitbriefingEU and UK still ‘far apart’ but Brexit deal hopes risehttps://www.ft.com/content/6a6d5960-3e44-48c8-b33a-ee583b314ee3Doctors set to give first authorised US doses of Covid-19 vaccinehttps://www.ft.com/content/c06fed50-715c-4d2b-995c-b37a52254081EY fraud unit found ‘red-flag indicators’ Wirecard in 2018ft.com/content/3c0a0999-b434-4cad-9d9e-80cb85bf9cfd?Eurozone banks set to restart dividend payments under strict limits https://www.ft.com/content/2ffeb47f-cb88-478e-9819-f22ccd8b9668? Hosted on Acast. See acast.com/privacy for more information.

Boris Johnson has warned Britain to prepare for a no-deal Brexit, and Airbnb shares more than doubled on their first day of trading on Thursday. Plus, the FT’s Brussels correspondent, Javier Espinoza, explains why the EU is giving Big Tech companies an ultimatum when it comes to policing the internet. Correction: A previous version of this episode referred to Netscape as Microsoft's browser when it was in fact a rival. Internet Explorer is Microsoft's browser.Boris Johnson warns Britain to prepare for no-deal Brexithttps://www.ft.com/content/c112b53b-9dc7-462d-b50a-523ce1d42b23Airbnb soars on debut in latest IPO bouncehttps://www.ft.com/content/a1c5cc26-b224-470a-84fe-8a6575fd33dcEU to tell Big Tech to police internet or face large fineshttps://www.ft.com/content/72371610-4820-44c0-a955-4a19e430d343 Hosted on Acast. See acast.com/privacy for more information.

Boris Johnson and the EU have set a Sunday deadline for a “firm decision” on the fate of their future-relationship negotiations, the US Federal Trade Commission and 46 states have brought antitrust cases against Facebook, and DoorDash reached a market value close to $60bn in its public trading debut. Plus the FT’s global media editor, Alex Barker, looks at whether Disney’s push into streaming is enough to save the business. Sunday deadline set for ‘firm decision’ on Brexit talksft.com/content/fb655185-c89e-4a1b-948f-fbe97176c891US sues Facebook for ‘years-long’ abuse of monopoly power ft.com/content/5c03ac0f-7122-4c31-97a5-ecab3928a038DoorDash shares open up 80% amid IPO frenzyft.com/content/c9f8f03f-6b82-4828-84e2-7ac25966b7d1Disney faces digital dilemma despite streaming successft.com/content/cf22ac6b-c065-4657-bbe6-6689c625461d Hosted on Acast. See acast.com/privacy for more information.

Starbucks chief executive Kevin Johnson says the company will continue to grow despite the pandemic, Congress looks to approve the first overhaul of US anti-money laundering laws in decades, and Japan has launched a stimulus package to help speed up the country’s recovery from Covid-19. Plus, the FT’s senior energy correspondent, Anjli Raval, discusses the recent executive exodus at Royal Dutch Shell. Shell executives quit amid discord over green pushft.com/content/053663f1-0320-4b83-be31-fefbc49b0efc?As thousands of small coffee shops shut, Starbucks’ boss is bullishft.com/content/ab959c91-7ef2-44d7-bf8c-d03718ae5393US to shift burden from banks in overhaul of money laundering lawsft.com/content/498493c4-a138-4e5d-b926-a86ae317b8f4Suga launches $294bn stimulus to boost Japan’s coronavirus recoveryft.com/content/2c927471-849c-4635-8844-31b12b91b613 Hosted on Acast. See acast.com/privacy for more information.

Boris Johnson is to travel to Brussels for make-or-break talks on a UK-EU trade deal, Uber will swap its self-driving car operations for a minority stake in Aurora, and China has drastically curtailed the overseas lending programme of its two largest policy banks. Plus, the FT’s Guy Chazan explains why there is so much at stake for Europe and German chancellor Angela Merkel during this week’s EU summit. Johnson to go to Brussels in search of way out of Brexit stalematehttps://www.ft.com/content/0317430c-015c-4848-8689-8ec4066dad52?Uber abandons effort to develop own self-driving vehiclehttps://www.ft.com/content/e55ce767-0ede-4096-aa3b-1d26671f3772?China curtails overseas lending in face of geopolitical backlashft.com/content/1cb3e33b-e2c2-4743-ae41-d3fffffa4259?Angela Merkel faces final challenge at EU summithttps://www.ft.com/content/58866070-51df-4386-be3f-58738a23996c? Hosted on Acast. See acast.com/privacy for more information.

Britain’s trade talks with the EU were on “a knife-edge” on Sunday, Brussels has been urged to stick to climate science when drawing up rules on sustainable finance, and doses of the coronavirus vaccine developed by AstraZeneca and the University of Oxford could be available for purchase in India as soon as March. Plus, the FT’s Brussels bureau chief, Sam Fleming explains how the UK’s departure from the EU will affect Europe. UK trade talks with EU on knife edge, says Irish premierhttps://www.ft.com/content/af0a4b76-66ad-4166-b743-e190327fe42eBrussels urged to heed climate science in sustainable finance ruleshttps://www.ft.com/content/3b017b2b-e8a5-4ea0-b7d0-c96337e33e5fCovid vaccines will be available for private purchase in Indiaft.com/content/224b13fb-1d7d-4250-a6c6-1535b30496bc?edit=true Hosted on Acast. See acast.com/privacy for more information.

EU budget commissioner Johannes Hanes has warned Poland and Hungary that Brussels could cut them out of its recovery fund, British officials accused France of making new Brexit demands at the eleventh hour on Thursday, and Boeing clinched its first firm order for the 737 Max since the aircraft was grounded 20 months ago. Plus, the FT’s global financial correspondent, Robin Wigglesworth, explains what has been fuelling the rally in global equities and whether it can be stopped.Brussels warns Poland and Hungary they cannot stop EU recovery fundft.com/content/50d9731d-c5cd-4fa7-9626-7a0f2f2d62d8Tough Macron stance leaves Brexit deal hanging in balance ft.com/content/7a679982-abef-4f9a-8a55-e06588e7b770Boeing clinches first firm order for 737 Max since aircraft’s groundinghttps://www.ft.com/content/2c32696e-56fc-43a5-b3d4-49daa169bcbdThe ‘everything rally’: vaccines prompt wave of market exuberanceft.com/content/d785632d-d9a0-45ae-ae57-7b98bb2fb8d6 Hosted on Acast. See acast.com/privacy for more information.

Top Democrats have expressed support for a $908bn stimulus plan offered by a bipartisan group of US senators, the UK has become the first country to approve a Covid-19 vaccine, and Chinese state-backed funds are still scouring the US for investments in critical technologies despite stiffer restrictions on such deals. Plus, the FT’s West Africa correspondent, Neil Munshi, explains why Nigeria’s richest residents are investing heavily in Africa’s biggest economy.  Top Democrats signal willingness to compromise on stimulushttps://www.ft.com/content/8787eb59-642e-4a93-af5b-59f13afa3e6dUK set for Covid vaccinations ‘next week’ after regulatory approvalhttps://www.ft.com/content/c60f49c1-34c8-4cd0-b295-87f35c70bc04Chinese state-backed funds invest in US tech despite Washington curbsft.com/content/745abeca-561d-484d-acd9-ad1caedf9e9eNigeria’s richest plough money into Africa’s biggest economyhttps://www.ft.com/content/c5b98699-a5bb-49b2-8436-4a7edf314b87 Hosted on Acast. See acast.com/privacy for more information.

Airbnb disclosed on Tuesday that it could raise as much as $2.5bn in its initial public offering, and Brussels is still holding back on granting Britain a whole collection of Brexit rights and regulatory waivers. Plus, the FT’s Latin America editor, Michael Stott, explains why Jair Bolsonaro’s monthly subsidy to Brazilians is a double-edged sword. Airbnb looks to raise up to $2.5bn in IPOft.com/content/c5450812-c45d-4833-a99f-22a390e5d3e4EU keeps UK guessing on post-Brexit rightsft.com/content/e7c12053-c9d7-42c8-965f-731257cde644? Hosted on Acast. See acast.com/privacy for more information.

The cost of many popular goods and services in the eurozone is rising far faster than the bloc’s overall depressed level of inflation, the video conferencing company Zoom continued to ride the boom in working and learning from home, and Eurozone finance ministers have struck an agreement to revamp the bloc’s bailout fund. Plus, the FT’s James Politi explains what is in store as Federal Reserve chair Jay Powell and US Treasury secretary Steven Mnuchin appear before the US Congress. Eurozone consumers hit by rising goods costs despite negative inflationhttps://www.ft.com/content/e8a10dff-ca00-4bd0-8909-a62b51e498af?Zoom sales up fourfold as pandemic keeps workers at homehttps://www.ft.com/content/3f388aac-9e41-4ce4-bc30-187bad688d8a?Eurozone finance ministers strike deal over bailout reform https://www.ft.com/content/827f3d0c-ff1d-417e-bdc9-afd55be003b0Jay Powell frets over US economy despite good news on a vaccineft.com/content/0b526c01-67e2-411c-ad8c-5ab362515047 Hosted on Acast. See acast.com/privacy for more information.

The EU will call on the US to seize a “once-in-a-generation” opportunity to forge a new global alliance, the first coronavirus vaccine is on track for international deployment within weeks, and Hong Kong’s leader has said she is being forced to receive her salary in cash because of US sanctions. Plus, the FT’s Helen Warrell explains how the UK is trying to position itself as a global leader in defence. EU pitches new post-Trump alliance with US in face of China challengehttps://www.ft.com/content/e8e5cf90-7448-459e-8b9f-6f34f03ab77aInternational rollout of Covid-19 vaccine on track for next monthhttps://www.ft.com/content/093d5005-ea9f-4c87-8db3-bae0e93d5102Hong Kong’s leader has ‘piles of cash’ at home after US sanctions https://www.ft.com/content/0f9f0e98-faac-4ecd-8896-8cda3746a920 Hosted on Acast. See acast.com/privacy for more information.

The company OpenAI has developed an extremely powerful machine-learning system that can rapidly generate text with minimal human input. The system is known as GPT-3 and it does everything from crafting an email to writing advanced fiction. However, the FT’s innovation editor, John Thornhill, explains, there are barriers and even a dark side to this tool. Hosted on Acast. See acast.com/privacy for more information.

Europe’s financial sector has reached “peak uncertainty” as regulators and banks rush to stave off the harshest effects of Brexit, cloud software company Salesforce is in talks to buy Slack, and Facebook allowed several thousand adverts and posts that violated UK law earlier this year. Plus, the FT’s economics editor, Chris Giles, explains why UK chancellor Rishi Sunak is warning of an ‘economic emergency’.Europe's finance sector braced for 'peak uncertainty' ahead of January Salesforce in talks to buy Slack in huge cloud software dealFacebook allowed thousands of illegal ads in UK until they were reported Sunak warns of ‘economic emergency’ as borrowing hits record £394bn  Hosted on Acast. See acast.com/privacy for more information.

US stocks surged to new highs on Tuesday, alongside global equities, as the path for a smooth transition of power in the US cleared, French tax authorities have begun demanding millions of euros in extra tax from US tech giants, and an ECB executive says that eurozone banks could be allowed to pay dividends again if their balance sheets are in order. Plus, the FT’s Robin Harding explains why Japanese stamps are getting in the way of the country’s digitisation efforts. US stocks set record high as investors look to new administrationhttps://www.ft.com/content/433048a5-c489-4ddd-aebd-d56fb8f3edfcUS tech companies get digital tax demands from French authoritiesft.com/content/2cfe3d07-7e69-4f57-b634-8b6002f967cb ECB to lift ban on bank dividends next year if balance sheets strong enoughft.com/content/62c9e91e-ce88-41cb-aa23-de67687cdeef?edit=trueJapan to ditch ‘hanko’ seal in drive to digitise bureaucracyhttps://www.ft.com/content/e05b0e61-1aa6-4e96-822b-538f1a33d806 Hosted on Acast. See acast.com/privacy for more information.

US president-elect Joe Biden is poised to choose former Federal Reserve chair Janet Yellen as his Treasury secretary, Peru joins a select group of countries that has issued century bonds, and the number of US air travellers has ticked up ahead of US Thanksgiving. Plus, the FT’s Donato Paolo Mancini explains how the vaccine produced by Oxford University and AstraZeneca will play into the larger fight against the pandemic. Joe Biden poised to pick Janet Yellen as Treasury secretary https://www.ft.com/content/1351b4db-9181-4afe-875f-acf9d5a6799aPeru joins elite club of nations selling century bonds https://www.ft.com/content/2676b8b3-dcf7-4200-9031-cc0f4f6a504e?shareType=nongiftUS air travel rises despite Thanksgiving pandemic warnings https://www.ft.com/content/ec2de8b7-30e9-403c-9016-ddb41796c9e8Oxford-AstraZeneca vaccine results raise hopes for Covid fighthttps://www.ft.com/content/2da97a56-23df-4345-9157-6dc8ec322c69 Hosted on Acast. See acast.com/privacy for more information.

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 Christmashttps://www.ft.com/content/5068cfce-a2fa-4d85-9078-d1a1cd89c316G20 leaders pledge to ensure global access to Covid vaccineshttps://www.ft.com/content/5f5e5a8c-1b94-438f-8f10-212126883e6cBeijing promises crackdown on misconduct after bond defaultsft.com/content/21af2731-0042-458c-9651-365459fa1e74? Hosted on Acast. See acast.com/privacy for more information.

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 toolhttps://www.ft.com/content/e4b3a063-db44-4e6c-b998-74a29d70b136?Wildfires pose threat to industry, warns Naked Wineshttps://www.ft.com/content/55daaf65-b233-47b8-b24a-b38b1b93f0f0Venezuelan oil could become world’s biggest stranded asset, say experts https://www.ft.com/content/cafbd3c7-2434-4f23-8da8-1f7052efdc8e Hosted on Acast. See acast.com/privacy for more information.

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 againhttps://www.ft.com/content/43bb3ab1-598d-4ee3-a83b-ea0c22f08d4aVaccine arrival expected to trigger dollar slump in 2021ft.com/content/d2a226b8-574a-4d1c-9205-fa076ed97055?Boris Johnson’s green plan a ‘far cry’ from hitting net zero targetsft.com/content/dbd944e6-48a2-42d7-829e-ae1d64616bfc Hosted on Acast. See acast.com/privacy for more information.

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 retailershttps://www.ft.com/content/f45c4956-108f-4b69-b115-c73cfc55f0e3Unilever aims for €1bn sales from plant-based products by 2027ft.com/content/0a1e5e3d-a34d-44bb-a350-75f3e8700673?Hedge funds under scrutiny over role in March bond market ructionshttps://www.ft.com/content/5bab4156-54fd-41ab-b067-794c3050c8cd Hosted on Acast. See acast.com/privacy for more information.

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-ordinateft.com/content/ee58360a-eca8-47aa-ac86-3665e918539aAirbnb 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 holdft.com/content/cd06ce1a-65cd-4543-8f80-cf1d577f0c68?edit=trueSaudi Aramco to sell billions of dollars in international bondshttps://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 Hosted on Acast. See acast.com/privacy for more information.

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 spendingft.com/content/c5d72dea-50bc-4f1f-98d3-bc758aafa905?US surge in coronavirus cases darkens outlook for economyhttps://www.ft.com/content/f3a4f31b-85bc-450f-ac7a-f7dbbad3f6dcAsia-Pacific countries sign one of the largest free trade deals in history  https://www.ft.com/content/2dff91bd-ceeb-4567-9f9f-c50b7876adceBank credit card profits in question as US consumers pay down debt https://www.ft.com/content/fe591579-2202-45f1-8c83-a7e7dd1200c4 Hosted on Acast. See acast.com/privacy for more information.

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 earningshttps://www.ft.com/content/9fdbf565-8be3-4972-8f8f-4cad3dda5101Senate prepares to vote on Trump’s Fed board nominee Judy Sheltonhttps://www.ft.com/content/4c146684-b364-4966-849a-acfcd7bd9dedPoland threatens EU budget over linking funding to rule of lawhttps://www.ft.com/content/d8dfda2c-a811-4749-9bf2-3a0dde626fed?Denmark’s mink farmers count cost of botched cullhttps://www.ft.com/content/9e518316-6422-41f3-8873-8a75754b2eef Hosted on Acast. See acast.com/privacy for more information.

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 strugglehttps://www.ft.com/content/2c431395-021b-471d-878c-3ab342304745ECB set to expand bond-buying and cheap loans, Lagarde signalshttps://www.ft.com/content/3fc692fe-a79d-447f-9dec-42c171dc9a53?TikTok challenges Trump order ahead of US divestment deadlinehttps://www.ft.com/content/218bccaf-6b74-475c-a374-9a0a89ca3d29Turkey’s Erdogan vows to win ‘trust’ of investors after lira plungehttps://www.ft.com/content/fc0be85d-eba8-4172-9d38-d8b6f5fa0e8e Hosted on Acast. See acast.com/privacy for more information.

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-bbb7-44e1f93e9a39Lyft weighs getting into delivery business as it works to bounce back ft.com/content/b340f34e-d16a-4388-99cf-eacb00df8389SoftBank’s Vision Fund unit considers move to Abu Dhabi from UKhttps://www.ft.com/content/22eddefb-adab-4188-9de7-33533f6d571eEU accuses Amazon of breaching antitrust ruleshttps://www.ft.com/content/4908995d-5ba4-4e14-a863-bcb8858e8bd2Europe’s shopkeepers on the warpath over lockdownshttps://www.ft.com/content/3fc8ba69-9a2c-4f19-ac79-ce310c8d6507 Hosted on Acast. See acast.com/privacy for more information.

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-a0d0-5ed597186496Nikola reveals escalating legal bill after fraud claimshttps://www.ft.com/content/51c9de3f-7e08-4740-8a50-4f301d8ca9aeIndia’s competition watchdog orders Google investigationhttps://www.ft.com/content/f0709021-0fdb-4f0a-a85e-c807ab364ebe Hosted on Acast. See acast.com/privacy for more information.

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 moderateshttps://www.ft.com/content/e922ddea-6665-4231-89a3-ffdbfd0fc009Westfield threatens chains including Pret over rent arrearshttps://www.ft.com/content/40596f51-cef7-41b7-a36f-cddebb870be5Lords defeat of Brexit bill will put government on track for Biden clashhttps://www.ft.com/content/874ef7b6-91f9-4f5e-b2ae-5a3def68e250 Hosted on Acast. See acast.com/privacy for more information.

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 resulthttps://www.ft.com/content/b922453a-166c-446f-a50e-6727309b8375Federal Reserve keeps monetary policy steady as Covid cases risehttps://www.ft.com/content/3b577f14-c638-4536-aeb0-f63508e7e295Bank of England launches £150bn stimulus to boost consumer spendinghttps://www.ft.com/content/18ade542-d2a9-438a-ba5c-37b51475993bUber and Lyft in driving seat to remake US labour lawshttps://www.ft.com/content/78e619f4-fabe-4077-a51a-491e24492263Uber claws back business as lockdowns ease but misses Wall Street targethttps://www.ft.com/content/933458fc-4bd8-407f-be0f-6467e83b6173 Hosted on Acast. See acast.com/privacy for more information.