FT News Briefing

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 onhttps://www.ft.com/content/874f4401-aa3f-46c0-b4ca-2d06066c1f7eInvestors hold their poise in face of knife-edge US election resulthttps://www.ft.com/content/732afbb8-af6f-4bfa-9cd2-e7dab82873afUS formally withdraws from Paris climate agreementhttps://www.ft.com/content/54f600e0-183f-41fd-8d4b-69ab4403e331 Hosted on Acast. See acast.com/privacy for more information.

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 coveragehttps://www.ft.com/us-presidential-election-2020Trump’s corporate trouble: CEOs keep their distance from the party of businesshttps://www.ft.com/content/f74f00db-decc-4fb2-8c86-e95dd0b0d42eChina halts $37bn Ant Group IPO, citing ‘major issues’https://www.ft.com/content/c1ee03d4-f22e-4514-af46-2f8423a6842e Hosted on Acast. See acast.com/privacy for more information.

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 courthttps://www.ft.com/content/fd0ed792-2945-48a1-a896-efd0ecc7586fTrump vs Biden: 4 policy plans US stock investors are watchinghttps://www.ft.com/content/4930af61-c51a-4782-a1cd-a0cd1a9a0cde?shareType=nongiftBattle at Arm China threatens $40bn Nvidia dealft.com/content/49889c43-70b8-45d7-b0b0-44e98d3bf89f?Volkswagen within ‘a gram’ of compliance with EU carbon targetsft.com/content/b8751714-fe99-4cd6-9935-2fb4ad9929f4? Hosted on Acast. See acast.com/privacy for more information.

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 imposedhttps://www.ft.com/content/3269f590-1cac-411f-8320-110c91c1f12eBusiness seeks state support as it faces England lockdownhttps://www.ft.com/content/adfebb62-2f01-4c4a-bdc6-8bf8ff621850 Hosted on Acast. See acast.com/privacy for more information.

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 slumphttps://www.ft.com/content/07c22dcb-9747-4bd3-a01c-bb51d6e9e9bbDonald Trump touts economy to boost re-election bidhttps://www.ft.com/content/dbe15063-8955-42e2-a757-b8d9b4bd9c60Early voting surge points to huge turnout in US electionhttps://www.ft.com/content/8d8fa717-8923-4223-af75-bd6d31d25d9a Hosted on Acast. See acast.com/privacy for more information.

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 spreadhttps://www.ft.com/content/cc928df5-8c4f-4b16-b5e8-78547069c9d5US stocks close down 3.5% as Covid concern mountshttps://www.ft.com/content/617f7ad3-6831-4e47-b66a-3efccd1972a6Chinese leadership meets to set policy direction for next 5 yearshttps://www.ft.com/content/91b74acd-15fc-402a-9644-3c662d3ba04c Hosted on Acast. See acast.com/privacy for more information.

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 searchft.com/content/fd311801-e863-41fe-82cf-3d98c4c47e26Boris Johnson faces Brexit defeat at key momentft.com/content/807e1c15-7632-4a42-adc7-562ffc57e232?Zuckerberg backs reform of legal protections for social mediahttps://www.ft.com/content/9e9b8a33-74af-4a42-9c6f-1e24958de46c? Hosted on Acast. See acast.com/privacy for more information.

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 Arthttps://www.ft.com/content/fb6dee7d-704e-444e-aa7f-32969296fb51US stocks have worst day in a month as virus cases hit a recordhttps://www.ft.com/content/770938ee-c511-4332-968c-c290dd89cc33Barclays recovers as bad debt charges fallhttps://www.ft.com/content/8374dd0e-87c1-4b58-8c29-5cc4f45d3960UBS pledges to boost payouts as pandemic impact diminisheshttps://www.ft.com/content/10005024-87dc-41b8-abc4-728261b34bf0 Hosted on Acast. See acast.com/privacy for more information.

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 measuresft.com/content/8d14f560-427c-451f-90df-8b464901d190EU capitals hesitate over recover fund loansft.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 Brexithttps://www.ft.com/content/a6b205e4-6171-4995-80d8-3f19b42d340aPrivate jets take off as wealthy flyers seek to avoid virushttps://www.ft.com/content/17282807-ab86-4333-b6c2-b8128f87fd4f Hosted on Acast. See acast.com/privacy for more information.

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 debatehttps://www.ft.com/content/bef48683-9bde-4ac2-8906-797779593b22Gilead secures FDA approval for remdesivir https://www.ft.com/content/07a321de-109b-46aa-99bc-f884e0ed7703 Hosted on Acast. See acast.com/privacy for more information.

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 interferenceft.com/content/82d92abf-2dd2-4fb6-8d0a-1f12f7aedcb4Tesla delivers its fifth straight quarterly profit https://www.ft.com/content/e782cac4-cbdf-4d39-986e-8b7b7971de1dApollo investor halts new commitments over Leon Black’s Epstein ties https://www.ft.com/content/7aa15cae-0baf-488b-8713-c4dc29bf193cViolent crackdown on Nigerian protests prompts outragehttps://www.ft.com/content/1e06b3c1-f453-4e7e-b71b-b0dba31faaa3 Hosted on Acast. See acast.com/privacy for more information.

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 fadeshttps://www.ft.com/content/de870037-4859-4660-87c8-b6bba656bd02Snap reaps the benefits of Facebook boycott falloutft.com/content/cb762955-10bb-4d1e-bfb3-87c4ecf9d915?US election: Facebook’s political balancing acthttps://www.ft.com/content/ebbf9be3-307b-4fdd-a582-069099e3096cNick Clegg: Europe should tear down digital walls not build new oneshttps://www.ft.com/content/98cf847c-96f9-4558-9a30-7d72ea4e79c2 Hosted on Acast. See acast.com/privacy for more information.

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 loomshttps://www.ft.com/content/6c0fd8ae-618e-42e9-8537-b6f6a4558ac2ConocoPhillips to buy rival Concho in $9.7bn dealhttps://www.ft.com/content/1da54146-244a-4e42-a90d-415298db3866Chinese groups go from fish to chips in new ‘Great Leap Forward’ https://www.ft.com/content/46edd2b2-1734-47da-8e77-21854ca5b212 Hosted on Acast. See acast.com/privacy for more information.

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 recessionhttps://www.ft.com/content/700355e2-362c-4f9f-a24e-ddc9f6ea9cb0Sunak ready to release ‘tens of millions’ to secure Manchester Covid deal https://www.ft.com/content/68e8e775-e69c-492c-bef2-a1c2863f5167 Hosted on Acast. See acast.com/privacy for more information.

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 sayshttps://www.ft.com/content/ee9b611f-2b4b-4572-afe1-b0b804d17a94Summit ‘atmospherics not good’ as Brussels seen as dragging its feet on trade deal https://www.ft.com/content/252d3ea4-0ddf-498b-b993-59c13b0de004 Hosted on Acast. See acast.com/privacy for more information.

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 profitshttps://www.ft.com/content/8b8a4bec-6d28-462e-a18f-73b4856e1fc7Amazon braces for winter of demand with relentless expansionhttps://www.ft.com/content/9cd8038e-b38c-40d6-b2db-8f6e01cd166a?France and Netherlands join forces to back EU move against tech giantsft.com/content/4a9ed79e-c8c8-4b47-8055-1cd029541c32 Hosted on Acast. See acast.com/privacy for more information.

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 rulinghttps://www.ft.com/content/3198d2ef-c3bb-44b9-a1e0-b27d9c1483dePandemic will cause ‘lasting damage’ to living standards, IMF warnshttps://www.ft.com/content/8b286455-d9ed-42a9-b933-5a1d3f4f08b2Hedge fund short sellers target pandemic winners ft.com/content/0a14e904-5fac-41bd-a9b4-a8a588db15c5?Apple enters the 5G market with new line of iPhoneshttps://www.ft.com/content/eac7ed4b-5fb4-4f0e-944d-f5f61300bd12 Hosted on Acast. See acast.com/privacy for more information.

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 waneshttps://www.ft.com/content/1dcbbed2-6d9e-4898-98bf-00e98a19eb5bFive things to watch in US bank earnings seasonhttps://www.ft.com/content/2604ab01-c562-4601-a8d6-921825a9e4aeUK’s youth count the cost of the Covid pandemicft.com/content/1220ba66-de09-4507-8616-ef112cd2c109?Samuel Brittan, economics editor, 1933-2020https://www.ft.com/content/b763bf06-3fc2-4e95-9fe6-a17acf3d8f3b Hosted on Acast. See acast.com/privacy for more information.

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 rulesft.com/content/c8c5d5dc-cb99-4b1f-a8dd-5957b57a7783?Emerging economies plead for more ambitious debt relief programmesft.com/content/edb18d34-844b-43b5-a78a-fec73f1d0583? Hosted on Acast. See acast.com/privacy for more information.

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 Chinahttps://www.ft.com/content/75ce186e-41f7-4a9c-bff9-0f502c81e456Silicon Valley start-up launches ‘Nespresso machine’ for whiskyhttps://www.ft.com/content/3926e3bf-352b-4c47-8acb-d9b47dfa11cb Hosted on Acast. See acast.com/privacy for more information.

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 drughttps://www.ft.com/content/dc7d2abf-1cd2-40db-b040-27b3d9031e8bVatican used charity funds to buy Hertz credit derivativeshttps://www.ft.com/content/f966e8b4-945a-45d0-8391-a305b3d8f7f5Silent witnesses: what do three corpses have to do with a corruption case?https://www.ft.com/content/7dc13ec9-721c-41a7-8423-daeb9a743e9a Hosted on Acast. See acast.com/privacy for more information.

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 talkshttps://www.ft.com/content/9f130c9c-fb1e-4d05-8864-1c8ac08c54bbHidden joblessness threatens economic recovery in US and Europehttps://www.ft.com/content/ec3d88dc-0dc1-4f6e-adf7-37e8f4316a22Macy’s takes stake in Klarna as part of payment partnershiphttps://www.ft.com/content/c2a26072-8c45-4ce3-9249-bd5b856bbe1c Hosted on Acast. See acast.com/privacy for more information.

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 hospitalhttps://www.ft.com/content/4909a63c-8f7d-4621-9fba-73b5dac2ee5cIMF calls on rich nations to boost public investmenthttps://www.ft.com/content/fc7ad858-0fdd-401e-bce5-796a8353ba30Stakes are high in bitter battle over battery secretshttps://www.ft.com/content/98678ea4-7eba-4873-8815-47b0efe7c9df Hosted on Acast. See acast.com/privacy for more information.

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 Mondayhttps://www.ft.com/content/f331c9b9-6f2b-4cd5-831c-00cc10929940Brexit and the City: Brussels’ new battle to rival London in financehttps://www.ft.com/content/dd7e6828-f603-47bf-bdd7-61e9dcb5f9acBrussels’ next financial policy chief warns of Brexit frictionshttps://www.ft.com/content/d80ccc42-9156-4f9f-a103-6a8faa33014b Hosted on Acast. See acast.com/privacy for more information.

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-bb03-8a05622be305Brussels launches legal action against UK over Brexit deal breachhttps://www.ft.com/content/8389cc9c-3ced-47f1-a85e-710ad20468a2The battle for Ohio: Trump tries to retain edge with working classhttps://www.ft.com/content/8d3e2e6f-3f40-4d1c-905f-b2dd416d055dBiden vs Trump: who is leading the 2020 US election polls?https://ig.ft.com/us-election-2020/Playboy returns to public markets through Spac dealhttps://www.ft.com/content/d79065d3-b6d4-4991-9033-d48dcc383c68 Hosted on Acast. See acast.com/privacy for more information.

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 electionhttps://www.ft.com/content/9b242ecc-3dce-4534-9171-cdf624468a2aJapan’s digital leap forward — and about time toohttps://www.ft.com/content/5b8c7ee3-2981-4446-92af-6a8499302210The new gold rush: western investors offset soft eastern demand https://www.ft.com/content/8a53dbaf-8210-4c60-8753-e3018fa1b1e1 Hosted on Acast. See acast.com/privacy for more information.

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 debatehttps://www.ft.com/content/c77fa4ff-3278-4258-9033-8b62adcdbba5EY 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 settlementhttps://www.ft.com/content/f2c918c2-2659-4513-8851-cc40379d4840 Hosted on Acast. See acast.com/privacy for more information.

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 reboundhttps://www.ft.com/content/f189b5b1-1e08-4ff1-9994-f1c89d9c1a79Biden portrays Trump as tax dodger after new revelationshttps://www.ft.com/content/68c6f5a0-2080-4f60-8dec-9043a590c838Investors wonder if the 60/40 portfolio has a futurehttps://www.ft.com/content/fdb793a4-712e-477f-9a81-7f67aefda21a Hosted on Acast. See acast.com/privacy for more information.

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 dealft.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-d74276bdc43fSwiss voters reject nationalist proposal to curb immigrationft.com/content/5a642ce6-1a76-460c-9857-b880b0fb7bc0 Hosted on Acast. See acast.com/privacy for more information.

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 gunshttps://www.ft.com/content/de654768-67f5-482d-893b-24107b45113bDonald Trump steps up fight over Supreme Court nomineehttps://www.ft.com/content/a08b21d4-3745-4aa2-83de-04a06013d026 Hosted on Acast. See acast.com/privacy for more information.

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 dealsft.com/content/7c156756-57a1-4554-af78-d795a41d13f9?edit=trueTikTok requests injunction against ban deadlinehttps://www.ft.com/content/e8c5cb67-f16b-4790-8617-f142f4dc013aPandemic knocks a tenth off incomes of workers worldwidehttps://www.ft.com/content/fabd4737-fa29-45ca-ad62-1b04c71d7b6aLira sinks even as Turkey spends billions of dollars to prop it uphttps://www.ft.com/content/737b5d1a-64d0-4e2d-8ca1-e7bcd4ff4487 Hosted on Acast. See acast.com/privacy for more information.

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 contentft.com/content/d7957f86-760b-468b-88ec-aead6a558902?Andrew Bailey rules out UK negative rates in near futurehttps://www.ft.com/content/ecc4a23d-f175-41e9-8f07-852dbe03d062Brexit and the City: Brussels’ new battle to rival London in financehttps://www.ft.com/content/dd7e6828-f603-47bf-bdd7-61e9dcb5f9ac Hosted on Acast. See acast.com/privacy for more information.

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 lockdownshttps://www.ft.com/content/7da536fa-1e96-461c-8172-4aa6c5a8fa8eTiffany gets speedy trial over LVMH’s bid to ditch takeover dealft.com/content/e7b7f86b-28c7-4cec-a282-7e8dee63e425?Beyond the market hype: Tesla tries to expand its lead in batterieshttps://www.ft.com/content/2e5731a1-c7ac-4f3e-ba0a-d9bae5b7fa67 Hosted on Acast. See acast.com/privacy for more information.

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 crisishttps://www.ft.com/content/8ff55eff-ed3a-49db-b26a-2f49fa7822d4Doubts surround ‘education fund’ at heart of US TikTok dealhttps://www.ft.com/content/4a9bb9aa-45e3-43b2-9759-3313751ffc8bEU gas groups exposed as pipeline politics threaten Nord Stream 2https://www.ft.com/content/2c713b40-ae7f-47a7-b050-e91ca0879c8f Hosted on Acast. See acast.com/privacy for more information.

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 Househttps://www.ft.com/content/8d2c74d6-d742-4fa9-b7cf-5af9bb85af6bTrump’s Northern Ireland envoy issues border warningft.com/content/e71b7301-4b35-4a13-bee2-f9446b438e05Biden struggles to close enthusiasm gap with Latino votersft.com/content/a8d65f78-6656-4ed5-a908-695a8be54f48 Hosted on Acast. See acast.com/privacy for more information.

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 2023https://www.ft.com/content/827302da-4257-4bbc-a0fa-9bc98f65d661Trump nudges Republicans to increase economic stimulus offerhttps://www.ft.com/content/e7228443-36ad-4fe9-aa2c-2d0ddefda12bSnowflake doubles in first trades after largest-ever software IPOhttps://www.ft.com/content/eb8e37c9-b4a5-4b4c-a3cf-2eeac98a8f2b Hosted on Acast. See acast.com/privacy for more information.

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 Househttps://www.ft.com/content/58eb7c26-2154-477f-af19-19157ae29261FedEx results deliver as pandemic drives ecommerce boomhttps://www.ft.com/content/86e2dc79-e662-3d6f-8252-4ff5fe979fdd#post-54430US Justice Department inquires into Nikola fraud claimshttps://www.ft.com/content/a45a6638-167b-4e27-a9fd-576e7229f959Germany to take in 2,750 migrants from Greek campshttps://www.ft.com/content/50be2fb8-215e-4780-8ece-3163e9ed0819 Hosted on Acast. See acast.com/privacy for more information.

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 weekhttps://www.ft.com/content/0ccd4a25-381f-46a7-a9e6-ee12ecf1aa88Nvidia secures control of key global tech with $40bn Arm dealhttps://www.ft.com/content/5bc5d0dc-24cd-407f-9fde-0d38c157d833Dieselgate could not happen again, VW executive claimshttps://www.ft.com/content/777cee39-f811-47d5-9841-5952f9a8bab7?Carlos Ghosn’s deputy goes on trial in Japanhttps://www.ft.com/content/03d8a98b-07b1-4d33-b837-64f065446448? Hosted on Acast. See acast.com/privacy for more information.

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 privateft.com/content/a83648a9-62fe-41d2-88e4-870fb2665b60?Netflix to take crown for spending on films and televisionft.com/content/7d66dd4c-440c-44d3-a234-39346fb69a91?France launches €100bn coronavirus recovery planft.com/content/0921c871-17b5-4e2e-bdea-aab78c2d0090Germany’s ‘ka-boom’ stimulus marks a surprising changehttps://www.ft.com/content/29ddcad4-aa2c-11ea-a766-7c300513fe47Oracle wins bidding war for TikTok’s US operationshttps://www.ft.com/content/4860ec09-212b-45c2-9cc3-27f731816130? Hosted on Acast. See acast.com/privacy for more information.

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-86c7d50e3b55Suganomics’ from A to Z: policies of Japan’s PM frontrunnerhttps://www.ft.com/content/4741f081-cc97-4a46-bdcf-50cdb6336808Russian hackers are targeting both US parties, Microsoft sayshttps://www.ft.com/content/29476d87-0eab-4d2b-b3a6-58e3536807ef Hosted on Acast. See acast.com/privacy for more information.

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 Chinahttps://www.ft.com/content/01f92c8b-11dc-431c-adaf-c299e3964ff1?ECB will struggle to rein in the euro, say investorshttps://www.ft.com/content/5d935f19-9891-48bb-bfbf-482818de8b63LVMH says it cannot complete Tiffany takeover after France intervenes https://www.ft.com/content/a3dcc777-ab12-4ee9-a147-54de1ac0f7e7The FT’s New Economic Reality event  https://nersciencemarkets.live.ft.com/home?segmentId=dc611fd0-c193-49f1-dc6a-217255a89d6c&utm_campaign=FEEAK Hosted on Acast. See acast.com/privacy for more information.

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.  Hosted on Acast. See acast.com/privacy for more information.

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.  Hosted on Acast. See acast.com/privacy for more information.

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 reversehttps://www.ft.com/content/acbd4efd-e8ef-4d16-bf0c-83fc4df83601Apple commits to freedom of speech after criticism of China censorshipft.com/content/a88f5d3d-0102-4616-8b3f-cb0661ba305d?US military officials eye new generation of space weaponshttps://www.ft.com/content/d44aa332-f564-4b4a-89b7-1685e4579e72 Hosted on Acast. See acast.com/privacy for more information.

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 pricesft.com/content/c986281c-7154-48ac-939d-50e46d64c0ee? DHL warns of Covid-19 vaccine delivery problemsft.com/content/52d40ce8-4f6b-4068-8c48-b98fa0f7740b? KKR homes in on Japan as cash-strapped companies offload assetsft.com/content/d59ea8fd-549c-4b0f-b558-e34f53b18f7d?Why Trump no longer talks about the trade deficit with Chinaft.com/content/081e6d25-8d67-4caa-918a-2765a66f0052? Hosted on Acast. See acast.com/privacy for more information.

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-4b80ee40de5bNicola Sturgeon revives plans for second Scottish independence votehttps://www.ft.com/content/0f0ecf40-f30a-482e-9902-d74276bdc43fMcDonald’s accused of discriminating against black franchiseeshttps://www.ft.com/content/86b89841-4428-4031-9b6d-6341bf6f7cadGlobal economy unlikely to benefit from falling dollarhttps://www.ft.com/content/83c16626-f617-4bb3-872e-fd6723a36c11Google and Apple build contact tracing app https://www.ft.com/content/0ed38c49-fafe-4e7b-bd57-44c705ba52f7 Hosted on Acast. See acast.com/privacy for more information.

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 restructuringft.com/content/e3e8b783-9455-46f3-946f-15c31a29778bGlobal equities complete hottest August since 1986ft.com/content/b37fc114-57e2-4f5e-b4b4-e373dbcd58ccLebanon picks PM as Macron meets celebrated singer Fairuzhttps://www.ft.com/content/eea244c3-39f7-4827-876f-46e1e28c7d8bEurope’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 ticketshttps://www.ft.com/content/a686e554-1e9e-424d-9b6e-0df841f68bb6 Hosted on Acast. See acast.com/privacy for more information.

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 shortagesft.com/content/8f153358-810e-42b3-a529-a5a6d0f2077f?Japan set for new PM in weeks as Shinzo Abe’s party plans speedy votehttps://www.ft.com/content/343dac7a-8260-46cc-a0b2-a4e37ba595e0PwC pledges to review fraud detection after Wirecard scandal shakes industryhttps://www.ft.com/content/c7dfdff2-e834-434d-aa0c-7876dc04a9a5 Hosted on Acast. See acast.com/privacy for more information.

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 partnershiphttps://www.ft.com/content/70551adb-7a6e-47a1-a6d1-070efaa957fdFed to tolerate higher inflation in policy shifthttps://www.ft.com/content/e1e59faa-5005-4e1c-9d54-b1a8d4de9586Black athletes boycott US sports leagues as protests escalate after Blake shootinghttps://www.ft.com/content/c7bb647a-e5fb-4644-8446-9afb69a8e363 Hosted on Acast. See acast.com/privacy for more information.

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 Wuhanft.com/content/f9dea077-66fb-4734-9d1d-076dc93568e1?EU trade commissioner set to resign after furore over Irish dinnerhttps://www.ft.com/content/f53a2bbc-97d6-484d-92e0-7907759cdd93Hurricane Laura threatens to bring ‘unsurvivable’ surge to US Gulfhttps://www.ft.com/content/86d7cac1-210e-49a9-a3ab-9b7b7bb5d8dfCentral bankers face virus hit to global economy at crisis forumhttps://www.ft.com/content/269eec67-1145-41b8-b97c-f43b293017fdLearn more about the FTWeekend Festival here: https://ftweekend.live.ft.com/ Hosted on Acast. See acast.com/privacy for more information.