FT News Briefing - Financial Times

Latest Episodes:

US lawmakers probe loan to Kodak, Zynga earnings, Biden spending Aug 06, 2020

Show notes

US lawmakers have launched an investigation into a $765m loan by the US government to Eastman Kodak, and two companies, Zynga and Etsy, reported strong quarterly earnings amid the pandemic. Plus, the FT’s Washington correspondent, Lauren Fedor, has some updates on how the campaign of presumptive Democratic presidential nominee Joe Biden is doing.

House Democrats probe $765m government loan to Kodak

ft.com/content/e4ab02ba-f8f7-4ca9-b881-9400ee612e18?

Zynga earnings boosted by lockdown gaming habits

https://www.ft.com/content/dfee19e3-1084-4d53-b522-99b6595281e7?

Joe Biden aims to outspend Donald Trump on TV ads ahead of US election

https://www.ft.com/content/012896c0-71ee-4081-a3a5-8b1ca864b214

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Beirut explosion, ETF gold spree, UK tax authority takes on General Electric Aug 05, 2020

Show notes

Dozens are dead and thousands injured after an explosion rocked Beirut, an income hit at Disney’s theme park has caused a knock on the company’s profits in the latest quarter, and an exchange traded fund holds more gold than some central banks. Plus, the FT’s Tabby Kinder explains why the UK tax authority, HM Revenue & Customs, is going after General Electric on fraud allegations.

Beirut rocked by massive explosion

https://www.ft.com/content/efb1426f-a80f-4b38-99c1-67a7a0823c4a

ETF becomes one of world’s biggest gold owners as investors flock in

ft.com/content/5316a714-6aa9-4919-ab29-96fab47cf2d4

Disney plans a digital debut for ‘Mulan’

https://www.ft.com/content/e39b07a9-edde-4dd3-9356-31bb11cd39e2

Why the UK tax authority is accusing General Electric of a $1bn fraud https://www.ft.com/content/02a6fa1b-8b62-4e1e-9100-fe620c8ec96c

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Trump reverses on TikTok, WTO candidates on judicial system, oil earnings Aug 04, 2020

Show notes

US President Donald Trump reversed course and dropped his opposition to Microsoft’s bid for TikTok, two leading candidates to head the World Trade Organization say US legal criticisms over dispute resolution are valid, and foreign aid groups combatting the coronavirus pandemic in North Korea have been forced to borrow money from its government. Plus, the FT's senior energy correspondent, Anjli Raval, tells us how oil companies are surviving the pandemic shock.

Register for the Energy Source talk, “Profit and Power in the Energy Industry”

https://live.ft.com/Events/2020/Profit-and-Power-in-the-Energy-Industry?segmentId=b52e1504-1d03-48a4-76bc-38fb50ada64b&utm_us=JJYAAP

Trump drops opposition to Microsoft bid for TikTok

http://ft.com/content/a1162b60-977d-400c-9758-edc4aa006f72?

Leading WTO candidates back US bid for dispute system reforms

ft.com/content/f4830e2b-df7b-474a-8104-6336992ca193

Aid groups borrow money from N. Korea in coronavirus fight

ft.com/content/057ec3d5-77ba-4db3-a1cc-1b2e60617094?edit=true

Shell and Total escape underlying losses on strong oil trading

https://www.ft.com/content/5df3596c-6b42-4270-85c4-c10834e80975

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US vows action on Chinese tech, William Spriggs on US labour market Aug 03, 2020

Show notes

The Trump administration has vowed to “take action” against Chinese software companies that it perceives as a risk to security. Plus, William Spriggs, a professor of economics at Howard University and chief economist of the AFL-CIO, explains how the pandemic is changing the US labour market.

US to widen action against Chinese tech groups beyond TikTok

https://www.ft.com/content/2eb1859f-ea08-4c7e-9bdd-a6712389a389

The Rachman Review: US economist William Spriggs on scars of the pandemic

https://www.ft.com/content/f80f8629-a84f-4ed8-abc2-bcf12cc92095

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US big tech companies report colossal earnings, US GDP down, companies cling to share buybacks Jul 31, 2020

Show notes

Facebook, Amazon, and Apple all reported stellar revenue increases in the latest quarter. The FT’s Richard Waters will explain what that means in the context of Wednesday’s US congressional big tech antitrust hearings. Then, FT US markets reporter Colby Smith will explain investor reaction to the worst contraction in the US economy in postwar history. Plus, corporate America is still clinging on to share buybacks despite the global recession.

Register for the Energy Source talk, “Profit and Power in the Energy Industry”

https://live.ft.com/Events/2020/Profit-and-Power-in-the-Energy-Industry?segmentId=b52e1504-1d03-48a4-76bc-38fb50ada64b&utm_us=JJYAAP

Apple revenues defy expectations despite store closures

https://www.ft.com/content/20d1ef26-2bf4-4900-85b2-08ef7c6d1ae1

US economy suffers sharpest postwar contraction in second quarter

https://www.ft.com/content/3ff15dc7-be90-4676-8121-5a868016c4bb

US companies cling to share buybacks despite collapse in profits

ft.com/content/1c924be0-5bc0-4eba-a088-b98b13080c04?

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Big tech hearings, Qualcomm-Huawei deal, 1MDB scandal Jul 30, 2020

Show notes

American lawmakers grill the chief executives of four US tech groups over unfair competition accusations, Qualcomm shares soared to a record high after the California chipmaker announced a royalty deal with Huawei on Wednesday, and the Federal Reserve extends measures to deal with the risk of an international shortage of dollars. Plus the FT’s opinion and analysis editor, Brooke Masters, explains how Goldman Sachs walked away from the 1MDB scandal relatively unscathed.

Big Tech bosses told they have ‘too much power’

https://www.ft.com/content/7c291a12-b87c-42a6-bd35-be961693c3e7

Qualcomm shares surge on Huawei deal and 5G progress

https://www.ft.com/content/0d266436-3377-49bb-867b-266939240685

Fed warns virus resurgence threatens economic recovery

https://www.ft.com/content/938a5387-778d-4f9e-8aed-53d2a332c7af

Goldman has done it again with its Malaysia deal

https://www.ft.com/content/03d5f3c8-3d0c-4afb-b3c5-3c5ed1c7cfe6

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Big tech antitrust hearings, Moderna prices vaccine, Fed extends emergency lending Jul 29, 2020

Show notes

Moderna is pitching its coronavirus vaccine at about $50 to $60 per course, the Federal Reserve has announced that it will extend emergency lending facilities, the European Central Bank has called on eurozone banks to continue to freeze dividend payments and Europe is bracing for another surge in coronavirus cases. Plus, the heads of Amazon, Apple, Alphabet and Facebook are set to appear together before Congress for the first time. The FT’s Lauren Fedor will explain what might come out of this hearing.

Big tech goes to Washington

https://www.ft.com/content/3e26d31f-9cff-4b3b-a971-02e16996c190

Moderna pitches virus vaccine at around $50-$60 per course

https://www.ft.com/content/405c0d07-d15a-4f5b-8a77-3c2fbd5d4c1c

Europe battles to contain surge in Covid-19 cases

ft.com/content/bcddc297-b7f2-444d-908f-54e8ce6f4f98?

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Investors fear US virus toll, MLB virus scare, European bank earnings Jul 28, 2020

Show notes

Senate Republicans unveiled a White House-backed plan for $1tn in new stimulus that would cut emergency unemployment benefits by two-thirds, the dollar weakened to a two-year low on Monday as coronavirus flare-ups weighed on investor confidence and Major League Baseball contends with a fresh coronavirus outbreak. Plus, the FT’s banking editor, Stephen Morris, will explain what lies ahead for European banks when it comes to loan losses and dividends.

Republicans unveil $1tn stimulus plan cutting jobless benefits

https://www.ft.com/content/3c6d86e9-93b4-41af-9803-046940cedf99?

Dollar sinks to two-year low on concern over US virus toll

https://www.ft.com/content/9d9fa97c-154f-46fb-affd-51f45a0de08a

US baseball league postpones games after outbreak hits Miami team

https://www.ft.com/content/12b00810-5b8c-4df0-b22d-cabe898770a3

Banks across Europe braced for further heavy loan-loss charges

https://www.ft.com/content/d42d735a-9aa3-454e-955a-3e0b22eda03d

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Republicans to unveil US stimulus offer, coronavirus curbs European travel, Brexit talks Jul 27, 2020

Show notes

Republicans are set to unveil their proposals for a fresh round of stimulus today, US oil companies have increased production following the price crash earlier in the year, and a surge in coronavirus cases have forced countries to curb European travel. Plus, the FT’s political editor, George Parker, will have an update on the progress of future relationship talks between the UK and EU.

Republicans prepare to unveil latest US stimulus offer

ft.com/content/3ced1ea5-6070-46ee-a946-dc18ad212bf7

US oil production wells up after Covid price crash

https://www.ft.com/content/9552bb8b-c23a-458d-b476-bbbbe4163bd2

Infection surges force countries to curb European travel

https://www.ft.com/content/584ee262-d539-40ca-b145-e42865f2bc6b

Michel Barnier warns ‘no progress’ made on key issues in Brexit talks

https://www.ft.com/content/14e6c44f-5573-46c1-8f4c-224747562c42

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Goldman seeks capital relief, Intel delays launch of next generation chips, US jobs recovery stalls Jul 24, 2020

Show notes

Goldman Sachs is pointing to its strong second quarter results in a pitch to the Federal Reserve for relief on its capital requirements, Intel shares dropped after the company said it was pushing back the launch of its next generation of chips, and as US lawmakers wrangle over the next economic stimulus package the US jobs recovery appears to be stalling. Plus, the search for oil can cost hundreds of millions of dollars. The FT’s senior energy correspondent, Anjli Raval, explains why the industry is scaling back.

Goldman touts ‘countercyclical’ trading in pitch for capital relief

ft.com/content/91b19416-6f3b-4e67-a309-857a61c6d494?

US labour market recovery appears to stall amid stimulus talks

https://www.ft.com/content/c9290574-ceef-4638-baf1-d27323992129

Intel warns of delays to next generation chips

ft.com/content/29e02e4f-df7f-49d7-8f94-00a5af481909?

The last frontier: oil industry scales back exploration

https://www.ft.com/content/85afd43a-cb3d-4e82-88b7-1f3a77dc2acb

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