FT News Briefing

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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