FT News Briefing

Investors have injected almost $170bn into global stocks over the past month, Broadway’s theatre workers are still waiting for curtains to lift, and India’s job shortage prompts the northern state of Haryana to adopt new rules that require companies to hire residents from that state.   Investors inject almost $170bn into global stocks in 4 week https://www.ft.com/content/88ab1525-02d3-4cf7-83ef-cfc00322d2b3? Outlook darkens for Europe’s virus-stricken economy https://www.ft.com/content/e818cea3-998f-4eef-ac0f-8f11894ac9af A year without Broadway  https://www.ft.com/content/e79fa5e2-146a-4112-99d6-410f5d40778f Hiring quotas the latest headache for companies investing in India https://www.ft.com/content/e09ccb12-57bc-414d-9318-8ed48dfffe6f Berlin theatres stage comeback with Covid-compliant initiative https://www.ft.com/content/a728eafd-e595-46d8-a568-2fdee4fde01d  See acast.com/privacy for privacy and opt-out information.

Europe’s biggest countries are set to resume using the Oxford/AstraZeneca coronavirus vaccine after the EU drugs regulator said the jab was safe, and the US is taking a tough stance as members from the Biden administration meet with Chinese officials in Alaska. Plus, the FT’s markets editor, Katie Martin, explains why investors are reboarding airline stocks.  EU drugs regulator backs ‘safe and effective’ AstraZeneca vaccine https://www.ft.com/content/c83944d5-ad26-415f-bf34-1eba428beeb9 US signals tough stance ahead of first meeting with China https://www.ft.com/content/b8af8a5b-591d-4721-8a6c-4da5481f3348? Airlines tap stock and bond markets as they prepare for surge in bookings https://www.ft.com/content/2a4d69a9-3f3d-4e0e-8e82-6794bca1888a  See acast.com/privacy for privacy and opt-out information.

Federal Reserve officials sharply upgraded their growth forecasts for the world’s largest economy, and Microsoft is investigating a recent cyber attack and whether security companies that it works with leaked details about vulnerabilities in its software. Plus, the FT’s global tech correspondent, Tim Bradshaw, explains how Stripe became Silicon Valley’s most valuable private company.  Fed sharply upgrades US growth forecast to 6.5% for 2021 https://www.ft.com/content/3d7704d3-a312-4294-95bc-90233f469ccd Microsoft investigating security groups for leaks to hackers https://www.ft.com/content/171e9ea6-96d7-4ffa-ad9f-6ed6a7ddb118? How Stripe became Silicon Valley’s most prized asset https://www.ft.com/content/9bfda026-df9d-42e4-8679-c26a072e0522  See acast.com/privacy for privacy and opt-out information.

Brussels is to propose the creation of a Covid-19 certificate to allow EU citizens to travel inside the bloc, and the UK’s Financial Conduct Authority is bringing money laundering charges against NatWest. Plus, the FT’s Frankfurt bureau chief, Martin Arnold, explains how the economies of the US and EU are drifting apart.  Brussels to propose Covid certificate to allow EU-wide travel https://www.ft.com/content/ed6e9de4-f48e-4d74-97d1-ee80ab8f1a2f FCA brings money laundering charges against NatWest https://www.ft.com/content/df2aea12-265e-4a71-aead-bef65eb78ec7 Mind the economic gap: Europe and the US are drifting further apart https://www.ft.com/content/0e9396cf-13b2-4034-ab09-c2366c264f91  See acast.com/privacy for privacy and opt-out information.

US airlines are optimistic about the industry after more people flew in the US this past weekend than any time since the start of the pandemic, and companies are turning to tree planting to appeal to eco-conscious consumers.  Plus, the FT’s Patrick McGee explains why some of China’s biggest technology companies  are testing a tool to bypass Apple’s new privacy rules.   China’s tech giants test way around Apple’s new privacy rules https://www.ft.com/content/520ccdae-202f-45f9-a516-5cbe08361c34 US airline chiefs express optimism after busy spring travel weekend https://www.ft.com/content/08f16182-a8ef-495a-a249-90b68f096e36 Saplings fly off the shelves as consumer brands turn green https://www.ft.com/content/522e9f1e-711d-40c0-b265-2998c9194fd3?  See acast.com/privacy for privacy and opt-out information.

The payments provider, Stripe, is now worth $95bn after its latest round of fundraising, and more than 4.4m Americans have created businesses during the pandemic. Plus, the FT’s innovation editor, John Thornhill, gives highlights from the latest episode of his Tech Tonic podcast, which looks at two countries where citizens have been comfortable with how their government used some of their private data during the pandemic.  Stripe valuation soars to $95bn after latest fundraising https://www.ft.com/content/b9949a88-6c09-4de5-92e7-73994bb2b62f The Covid entrepreneurs: Americans start millions of new businesses https://www.ft.com/content/400ae372-0cb2-48bb-8767-7986848ed9a6  See acast.com/privacy for privacy and opt-out information.

Canberra is contemplating investing in a A$1bn biopharmaceutical plant to reduce its dependence on imports of critical medicines, China’s state-backed pharmaceutical group, Sinopharm, wants more governments to buy its Covid-19 vaccine, and Spain is set to become the first EU country to amend its laws to give some gig economy workers employee rights. Plus, the FT’s markets editor, Katie Martin, explains why the European Central Bank will accelerate its bond buying programme.   Australia considers funding vaccine maker to curb reliance on imports https://www.ft.com/content/483e6275-6d27-433c-9cbc-6918f2c916c6?edit=true Spain to grant gig delivery workers employee rights https://www.ft.com/content/73be294b-a43d-4387-aced-7b5cb0d91007? Sinopharm faces battle to turn Covid vaccine into a global success https://www.ft.com/content/99c7a9de-fc11-45ab-890b-f6733ccb4186 ECB pledges to step up pace of stimulus to counter market sell-off https://www.ft.com/content/bd7ccf1d-3b07-4f13-9a14-68692ef84e95 Rise of the retail army: the amateur traders transforming markets https://www.ft.com/content/7a91e3ea-b9ec-4611-9a03-a8dd3b8bddb5  See acast.com/privacy for privacy and opt-out information.

President Joe Biden is eyeing a multi-trillion-dollar infrastructure package for the US. Plus, the FT’s chief economics commentator, Martin Wolf, examines how well governments and economic policymakers have handled the economic crisis stemming from the coronavirus pandemic.   See acast.com/privacy for privacy and opt-out information.

The OECD said on Tuesday that president Joe Biden’s $1.9tn US stimulus programme will boost the global economic recovery, the pandemic is being blamed for lower birth rates across Europe, and the IPO of South Korean ecommerce group, Coupang, is being clouded by worker deaths. Plus, the FT’s energy correspondent, Nathalie Thomas, explains the current surge of interest in green hydrogen as an alternative to fossil fuels.  Biden stimulus will boost global recovery, says OECD https://www.ft.com/content/7f7d4b7d-028a-41a6-b11e-8320173ae4bc Covid pandemic blamed for falling birth rates across much of Europe https://www.ft.com/content/bc825399-345c-47b8-82e7-6473a1c9a861? Coupang’s New York listing clouded by worker deaths https://www.ft.com/content/a90749a2-5f5d-4789-8215-fd4168a50813 The race to scale up green hydrogen https://www.ft.com/content/7eac54ee-f1d1-4ebc-9573-b52f87d00240 Curaleaf bets on more liberal Europe with $300m deal for cannabis producer https://www.ft.com/content/8dffd932-0ecb-444f-9cc0-079466c7b997?  See acast.com/privacy for privacy and opt-out information.

Stocks declined on Monday with shares of technology companies leading Wall Street lower, and the stricken supply chain financier, Greensill Capital, files for administration. Plus, the FT’s private capital correspondent, Mark Vandevelde, breaks down the $29bn merger between Apollo Global Capital and Athene Holding.  Wall Street dragged lower by tech stocks and pandemic beneficiaries https://www.ft.com/content/e4420f17-c0ac-4cd4-807d-4549f5de9bfa? Apollo to merge with Athene creating $29bn conglomerate https://www.ft.com/content/e9ba5f23-9777-4730-a59b-d0c4d1fb510c Greensill files for administration and warns of GFG ‘defaults’ https://www.ft.com/content/db5bc46a-57cc-4c7d-a6fe-47f5a59412d4  See acast.com/privacy for privacy and opt-out information.

The European Central Bank has asked lenders for details of their exposure to Greensill Capital and its key client GFG Alliance, US president Joe Biden will hold a summit with Japan, India, and Australia to find ways to counter China’s influence, and TikTok is removing videos uploaded by Myanmar soldiers. Plus, the FT’s New York correspondent, Josh Chaffin, explains why lenders have been lenient towards commercial property owners during the pandemic.  ECB quizzes banks over exposure to Greensill and Gupta https://www.ft.com/content/68ea9df2-aa69-4a0b-9462-d3ed6491cee6? Joe Biden enlists ‘Quad’ allies to counter China https://www.ft.com/content/a481167f-c362-4bd9-a9e9-7fd5944e5ea4 TikTok on alert after it becomes outlet for Myanmar soldiers https://www.ft.com/content/73847311-2aec-4555-ada0-56833da6bdf4 Property and the pandemic: the great reckoning that never seems to arrive https://www.ft.com/content/084f94e8-84a8-4966-a38b-fcb0b5e6171e  See acast.com/privacy for privacy and opt-out information.

 Federal Reserve chair Jay Powell triggered a sudden sell-off in long-term US Treasury debt and equities Thursday, and Opec and Russia have decided against unleashing a flood of crude on to the market. Plus, the FT’s markets editor, Katie Martin, explains how the UK is going about attracting new companies to the London stock exchange.  Powell inflation comments send US stocks and bonds lower  https://www.ft.com/content/1feb5449-76f0-4f67-85b2-ab03f05d5a65 Oil jumps as Opec and allies decide against big rise in output https://www.ft.com/content/771ebf3a-cff0-4ff3-ab9a-0bbd01a33f55 UK looks at new rules to attract companies to London stock exchange  https://www.ft.com/content/a9e9de26-7f44-41e1-9dd6-3721a52c7d9c  See acast.com/privacy for privacy and opt-out information.

Democratic leaders have reached a compromise on a deal that would limit who is eligible for $1,400 stimulus cheques. Plus, the FT’s capital markets correspondent Robert Smith unpacks the rapidly unfolding saga behind Greensill Capital and why the supply chain financier is on the verge of filing for insolvency.  See acast.com/privacy for privacy and opt-out information.

President Joe Biden announced on Tuesday that the US would have enough doses of coronavirus vaccines for every adult by the end of May, global energy-related carbon emissions have rebounded from coronavirus lockdown levels, and Ant Group has shared just a fraction of its consumer data with China’s central bank, defying Beijing. Plus, the FT’s Berlin bureau chief, Guy Chazan, explains why Germany’s vaccine rollout has gone slower than expected.   Biden says US will have enough jabs to vaccinate all adults by end of May https://www.ft.com/content/89442c1b-8295-4682-9f09-c040b9017882? Global carbon emissions rebound to pre-lockdown levels https://www.ft.com/content/600ad91f-79d4-451c-97c1-ab9a0daf4d3e Jack Ma’s Ant defies pressure from Beijing to share more customer data https://www.ft.com/content/1651bc67-4112-4ce5-bf7a-d4ad7039e7c7 Germany loses Covid crown as vaccine campaign falters https://www.ft.com/content/33f8ffd6-066b-449c-bf7e-edd51d661b19  See acast.com/privacy for privacy and opt-out information.

Two senior Democratic lawmakers have warned the Federal Reserve that it would be a “grave error” to extend looser capital requirements for US banks. ExxonMobil appointed two new board directors on Monday to placate activist shareholders and the former French president Nicolas Sarkozy was sentenced to three years in prison on Monday. Plus, the FT’s global media editor Alex Barker looks back on Rupert Murdoch’s media empire and what succession looks like for the mogul.  Democratic senators call for tougher capital requirements for US banks https://www.ft.com/conent/44792b80-c331-44e3-b02c-41a151f4cb6c? Exxon adds two board directors in wake of activist pressure  https://www.ft.com/content/be866c6f-bbff-4500-927b-49e02b7b9023 Nicolas Sarkozy sentenced to jail for corruption https://www.ft.com/content/1f2fe078-34f7-4665-afd7-a829082c7874 Rupert Murdoch at 90: Fox, succession and ‘one more big play’ https://www.ft.com/content/d9719c27-5e95-49c3-a534-2796196c6af7  See acast.com/privacy for privacy and opt-out information.