FT News Briefing - Financial Times

Latest Episodes:

Is AI finally closing in on human intelligence? Nov 27, 2020

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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.

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Brexit financial services woes, Salesforce eyes Slack, Facebook’s ad troubles Nov 26, 2020

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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 deal

Facebook allowed thousands of illegal ads in UK until they were reported

Sunak warns of ‘economic emergency’ as borrowing hits record £394bn

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Markets rise on White House transition, France taxes US tech giants, bank dividends Nov 25, 2020

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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 administration

https://www.ft.com/content/433048a5-c489-4ddd-aebd-d56fb8f3edfc

US tech companies get digital tax demands from French authorities

ft.com/content/2cfe3d07-7e69-4f57-b634-8b6002f967cb

ECB to lift ban on bank dividends next year if balance sheets strong enough

ft.com/content/62c9e91e-ce88-41cb-aa23-de67687cdeef?edit=true

Japan to ditch ‘hanko’ seal in drive to digitise bureaucracy

https://www.ft.com/content/e05b0e61-1aa6-4e96-822b-538f1a33d806

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Yellen likely choice for US Treasury, Peru’s century bonds, Oxford-AstraZeneca vaccine Nov 24, 2020

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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-acf9d5a6799a

Peru joins elite club of nations selling century bonds

https://www.ft.com/content/2676b8b3-dcf7-4200-9031-cc0f4f6a504e?shareType=nongift

US air travel rises despite Thanksgiving pandemic warnings

https://www.ft.com/content/ec2de8b7-30e9-403c-9016-ddb41796c9e8

Oxford-AstraZeneca vaccine results raise hopes for Covid fight

https://www.ft.com/content/2da97a56-23df-4345-9157-6dc8ec322c69

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Europe eases lockdowns for holidays, G20 on Covid-19 vaccines, China’s crackdown on misconduct Nov 23, 2020

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European policymakers are preparing to relax Covid-19 lockdowns and “save Christmas”, G20 leaders pledged to “spare no effort” to ensure global access to Covid-19 vaccines, and Beijing has warned it will show “zero tolerance” for financial misconduct after several high-profile bond defaults by state-owned companies. Plus, the FT’s Peggy Hollinger explains how investors are handling Brexit.

European nations plan cautious easing of lockdowns for Christmas

https://www.ft.com/content/5068cfce-a2fa-4d85-9078-d1a1cd89c316

G20 leaders pledge to ensure global access to Covid vaccines

https://www.ft.com/content/5f5e5a8c-1b94-438f-8f10-212126883e6c

Beijing promises crackdown on misconduct after bond defaults

ft.com/content/21af2731-0042-458c-9651-365459fa1e74?

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WHO cautions against remdesivir, wildfires and wine, Venezuelan oil as a stranded asset Nov 20, 2020

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The World Health Organization has recommended that doctors do not prescribe Gilead's remdesivir to patients in hospital with coronavirus, US Treasury secretary Steven Mnuchin has decided against extending several of the Federal Reserve’s emergency lending facilities, and online wine retailer, Naked Wines, has said that worsening wildfires are becoming a challenge for the industry. Plus, the FT’s Michael Stott explains why Venezuelan oil could become the world’s biggest stranded asset.

WHO recommends against prescribing remdesivir to Covid patients

ft.com/content/cc8d2fc7-f7e9-441e-a33c-94b8f82ce110?

US Treasury says no to extending some of Fed’s crisis-fighting tool

https://www.ft.com/content/e4b3a063-db44-4e6c-b998-74a29d70b136?

Wildfires pose threat to industry, warns Naked Wines

https://www.ft.com/content/55daaf65-b233-47b8-b24a-b38b1b93f0f0

Venezuelan oil could become world’s biggest stranded asset, say experts

https://www.ft.com/content/cafbd3c7-2434-4f23-8da8-1f7052efdc8e

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EU auditor: Brussels too slow to tame Big Tech, FAA clears Boeing 737 Max, Johnson’s green economy Nov 19, 2020

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A new report from the EU’s external auditor has found Brussels failed to tame Big Tech because it moved too slowly, the US Federal Aviation Administration issues an order on Wednesday allowing Boeing’s 737 Max to fly again, and Wall Street analysts expect the arrival of a coronavirus vaccine will send the dollar sinking next year. Plus, the FT’s environment correspondent, Leslie Hook, explains why critics say Boris Johnson’s plan for a green economy falls short.

EU has been too slow to tame Big Tech, says bloc’s auditor

ft.com/content/abb8ebe1-99e1-4547-8c42-df265bf5125c?

US regulator clears Boeing’s 737 Max to fly again

https://www.ft.com/content/43bb3ab1-598d-4ee3-a83b-ea0c22f08d4a

Vaccine arrival expected to trigger dollar slump in 2021

ft.com/content/d2a226b8-574a-4d1c-9205-fa076ed97055?

Boris Johnson’s green plan a ‘far cry’ from hitting net zero targets

ft.com/content/dbd944e6-48a2-42d7-829e-ae1d64616bfc

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G20 nears funding boost for low-income countries, Amazon online pharmacy, FSB report Nov 18, 2020

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Saudi Arabia’s finance minister says the world’s richest countries are close to unlocking additional IMF funds for low-income nations, Amazon has launched an online delivery service offering big discounts for prescription medicine in the US, and Unilever is aiming to increase its annual sales of plant-based meat and dairy alternatives to €1bn in five to seven years. Plus, the FT’s US markets reporter, Colby Smith, explains why the Financial Stability Board is pinning hedge funds with some of the blame for the US Treasury market chaos in March.

G20 nearing IMF funding boost for developing nations, Saudi minister says

ft.com/content/f211194f-5c19-4ab1-b47f-a4d6caa88f36?

Amazon launches online pharmacy in challenge to traditional retailers

https://www.ft.com/content/f45c4956-108f-4b69-b115-c73cfc55f0e3

Unilever aims for €1bn sales from plant-based products by 2027

ft.com/content/0a1e5e3d-a34d-44bb-a350-75f3e8700673?

Hedge funds under scrutiny over role in March bond market ructions

https://www.ft.com/content/5bab4156-54fd-41ab-b067-794c3050c8cd

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Biden’s coronavirus warning, Airbnb readies for IPO, Saudi Aramco bonds Nov 17, 2020

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US president-elect Joe Biden has warned that the country’s ability to handle Covid-19 could be hampered if Donald Trump does not allow a smooth transition of power, AirBnB published the prospectus for its long-awaited stock market listing on Monday, and the secretary general of the Basel committee of regulators has argued that shareholder payouts should remain on hold until the long-term impact of the pandemic is clear. Plus, the FT’s senior energy correspondent, Anjli Raval explains why Saudi Aramco is heading to the international bond market.

Biden warns ‘more people may die’ if Trump refuses to co-ordinate

ft.com/content/ee58360a-eca8-47aa-ac86-3665e918539a

Airbnb woos investors with return to profit ahead of IPO

ft.com/content/5f8aa041-3d1b-43f4-94fb-57a0639bfc76?

Bank regulator calls for dividends to remain on hold

ft.com/content/cd06ce1a-65cd-4543-8f80-cf1d577f0c68?edit=true

Saudi Aramco to sell billions of dollars in international bonds

https://www.ft.com/content/c10dcb3b-89cf-4fc4-a1b2-bd434f79258b

Lawsuit tracker: Trump’s battle faces tough test this week

https://www.ft.com/content/20b114b5-5419-493b-9923-a918a2527931

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UK’s weak household spending, Asia-Pacific trade deal, Biden’s Brexit impact Nov 16, 2020

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A Financial Times analysis has found the UK’s weakness in international economic league tables during the coronavirus crisis reflects stretched household finances and potentially wasteful public spending, leaders from 15 Asia-Pacific countries have signed one of the biggest trade deals in history, and US banks are concerned over one of their most profitable business segments as consumers pay down their credit cards. Plus, the FT’s Arthur Beesley explains how US president-elect Joe Biden’s Irish roots could affect Ireland’s Brexit outlook.

UK’s poor GDP performance rooted in weak household spending

ft.com/content/c5d72dea-50bc-4f1f-98d3-bc758aafa905?

US surge in coronavirus cases darkens outlook for economy

https://www.ft.com/content/f3a4f31b-85bc-450f-ac7a-f7dbbad3f6dc

Asia-Pacific countries sign one of the largest free trade deals in history

https://www.ft.com/content/2dff91bd-ceeb-4567-9f9f-c50b7876adce

Bank credit card profits in question as US consumers pay down debt

https://www.ft.com/content/fe591579-2202-45f1-8c83-a7e7dd1200c4

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