FT News Briefing

TikTok plans to expand into ecommerce in the US to compete with Facebook, Cuba has announced it will open most of the economy to private business, and Mercedes-Benz says by 2030 it will make as much from its electric cars as it does from its luxury combustion engine models. Plus, the FT’s environment and clean energy correspondent, Leslie Hook, looks at the global shift to renewable energy and how it could change the geopolitical landscape. TikTok takes on Facebook with US ecommerce push https://www.ft.com/content/629c1c17-3daa-46af-8177-1814baaa2bed? Cuba lifts ban on most private business  https://www.ft.com/content/3956b50f-621a-4289-90c3-247a2762fae2 Mercedes’ electric profits to match those for combustion models by end of decade https://www.ft.com/content/6021706c-4f00-4547-9082-20e1d1d2d540? How the race for renewable energy is reshaping global politics https://www.ft.com/content/a37d0ddf-8fb1-4b47-9fba-7ebde29fc510  See acast.com/privacy for privacy and opt-out information.

German carmakers are considering their own semiconductor stockpiles to avoid supply chain troubles, the UK government could soon hold directors personally liable for the accuracy of their companies’ financial statements, and CVC Capital Partners eyes a minority stake in one of the NBA’s most valuable teams. Plus, the FT’s Asia business editor, Leo Lewis, explains how robots in Japan are boosting employment.   Carmakers consider supply chain overhaul to avert more chip crises www.ft.com/content/3ecd3ccd-18d1-45a0-afb6-84719bdadf52 UK directors face tough new liability rules under major audit reform https://www.ft.com/content/d4dd13a9-903e-4ff7-9fc3-d30ffdf764be Japan’s love of robots is paying off https://www.ft.com/content/72268b41-9731-4ee9-a32d-a9b463e362c1  See acast.com/privacy for privacy and opt-out information.

The EU and the UK are set to open probes into Nvidia’s $40bn acquisition of chip designer Arm, Microsoft looks to capitalise on Google’s threat to shut its search engine in Australia, and Mario Draghi accepts the mandate to form Italy’s next government. Plus, the FT’s retail correspondent, Jonathan Eley, explains how bargain retail is surging during the pandemic.  UK and EU to open in-depth probes into Nvidia’s $40bn acquisition of Arm www.ft.com/content/a3adccc9-678e-44ef-bdb5-e847ecb7de8c Australia media law push undeterred by Google search exit threat www.ft.com/content/5d656fa3-9278-4528-9edf-514ddfd29c1d? Mario Draghi accepts mandate to form new Italian government https://www.ft.com/content/9022639f-9b88-40fe-9875-1d4a282ac5e4 Bagging bargains: the unexpected rise of the discount megastore https://www.ft.com/content/554984ba-c010-4956-9125-6a7fc6806295  See acast.com/privacy for privacy and opt-out information.

Amazon chief executive Jeff Bezos will step aside later this year to become executive chairman of the ecommerce group, Italy’s president is expected to ask former European Central Bank president, Mario Draghi, to begin talks to form a new Italian government of national unity, and the price of silver retreated on Tuesday after a surge last week. Plus, the FT’s John Reed, explains what the military coup in Myanmar means for the country.  Amazon’s Jeff Bezos to step aside as chief executive this year https://www.ft.com/content/b100100e-48d9-4b06-86e0-ed81dd9eee92 Mario Draghi set to form new Italian government https://www.ft.com/content/36a84f52-7287-4062-a150-24f58d9b053a Silver price retreats rapidly in blow to new retail buyers https://www.ft.com/content/77e6fef6-37ff-4f8e-abd6-4c2d65ac120c Myanmar coup blindsides the West https://www.ft.com/content/cee63a22-4796-48bb-bcc3-0e3c95114ee0  See acast.com/privacy for privacy and opt-out information.

Joe Biden has threatened to impose sanctions on Myanmar after the military seized power in a coup, and Robinhood raises another $2.4bn to shore up finances strained by turbulent trading. Plus, the FT’ Beijing bureau chief, Ryan McMorrow, explains the popularity of TikTok’s big rival in China, Kuaishou, which goes public this week.  US threatens sanctions on Myanmar after military coup ft.com/content/1934605c-ecf1-4e7b-aac7-45ad8031b879? Robinhood raises $2.4bn in second cash injection in four days https://www.ft.com/content/790324e0-8526-4d9e-9717-a4430e1be034 Robinhood’s bid to ‘democratise trading’ checked by Wall Street realties www.ft.com/content/9e69faf0-09c4-42ca-8c5f-78dc9568c18f Kuaishou IPO boosts biggest rival to China’s TikTok’s  https://www.ft.com/content/2b7a8bec-7f01-45b8-ac9f-1fe3f1cbd1f4 Wheels Up set to go public via Spac merger https://www.ft.com/content/ec08b822-e022-41d1-8252-0a04b2772031  See acast.com/privacy for privacy and opt-out information.

Reddit traders have targeted silver markets after piling into GameStop shares last week, and Republicans in the US Senate float a stimulus deal a third the size of president Joe Biden’s plan. Plus, the FT’s chief features writer, Henry Mance, spoke with the founder of the internet investigative group Bellingcat and shines a light on the trailblazing group.  Reddit traders switch sights to silver after equities attack ft.com/content/d46e8623-09af-4a1f-b7e5-207616388b0f? GameStop mania: why Reddit traders are unlikely to face prosecution https://www.ft.com/content/8caa3c75-944a-468e-8a68-9deeec8b67d8 Republican senators float compromise $600bn stimulus deal https://www.ft.com/content/20859a91-cadc-42c2-b97b-a994efd65ec1 Bellingcat’s Eliot Higgins: ‘We’re on the precipice of the misinformation age’ https://www.ft.com/content/0f31590f-74cf-4cfa-b0d6-92e8f27d6d34  See acast.com/privacy for privacy and opt-out information.

The EU’s Covid-19 vaccination plan is nearing a crisis point after several regions suspended inoculations over the shortage of jabs, and amateur day traders are challenging the financial establishment. Plus, the FT’s Seoul correspondent, Ed White, tells us how a North Korean defector is exposing the effect that sanctions are having on Kim Jong Un's regime" Shortfall in jabs pushes EU vaccine drive to crisis point https://www.ft.com/content/1b2afe60-b5e6-456d-98e0-313fe664d0b9 Occupy Wall Street spirit returns as traders upset the elites https://www.ft.com/content/bcfb2252-f752-4177-a860-07dc66b0b9e8 North Korea defection exposes pressure on NK Diplomates  https://www.ft.com/content/7330790c-9630-44a5-9fa7-b446aa94e872  See acast.com/privacy for privacy and opt-out information.

The Biden administration says it is “monitoring the situation” as shares in companies including GameStop, AMC and BlackBerry surged in trading on Wednesday. Meanwhile, Wall Street’s big indexes dropped after Federal Reserve chairman Jay Powell described a weakening in the recovery of the US economy, and China’s Covid-19 vaccine makers are having no problem meeting demand. Plus, the FT’s investment correspondent, Attracta Mooney, has been following BlackRock’s sustainability efforts and reports on how well the world’s largest asset manager is keeping its promises.  ‘Short squeeze’ spreads as day traders hunt next GameStop https://www.ft.com/content/acc1dbfe-80a4-4b63-90dd-05f27f21ceb2 Wall Street notches its worst day since October https://www.ft.com/content/570f7453-fb9b-4c73-845e-a33178f4942e Lex Letter from Seoul: China’s vaccines and efficacy rates https://www.ft.com/content/768f7e3a-0a10-47a5-9f0d-ea1927ebb4ec BlackRock’s sustainability ‘report card’ one year from Fink’s annual letter https://www.ft.com/content/d7e83ba0-c90b-46c0-9233-ad06187606c1 Walmart turns to robot-staffed warehouses to handle online orders https://www.ft.com/content/1b1b11c8-200c-4f7c-a431-6460f90bb95d?  See acast.com/privacy for privacy and opt-out information.

Facing a shortfall in vaccine supplies and slow pace of vaccinations, the EU is debating how to restrict exports of coronavirus vaccines, India’s farmers are angry about agricultural reforms that could erode the state-run model and boost private agribusiness, and the plant-based food company Beyond Meat partners with Pepsico. Plus, a serious look at silly prices in the stock market with the FT’s markets editor, Katie Martin.  Germany presses Brussels for powers to block vaccine exports https://www.ft.com/content/ed0059c9-1ea5-4ba9-a1ff-88004b59e71d Investor anxiety mounts over prospect of stock market ‘bubble’ https://www.ft.com/content/a790c796-f0c4-4cf9-8c7a-3b52daff89e4 IMF expects US, China to recover most strongly from the virus economic hit https://www.ft.com/content/341577c5-92f2-4bd3-a235-331d0db5dbbd Farmers flood into New Delhi to vent anger over agriculture reforms https://www.ft.com/content/0312fd46-b47e-4c55-b007-c56f5e6f24be Narendra Modi’s ‘noble’ wait for a Covid jab makes him camera shy https://www.ft.com/content/c86afc76-f49b-432d-b2c0-5aa3655903bd  See acast.com/privacy for privacy and opt-out information.

Companies have launched a $400bn fundraising blitz in the first three weeks of 2021 as government and central bank stimulus cascades across capital markets. Leon Black is to retire as chief executive of Apollo Global Management; the announcement came as Apollo revealed the conclusion of a review into Mr Black’s relationship with the late paedophile Jeffrey Epstein. Plus, Henry Foy on what’s fuelling Russia’s Navalny protests and Tom Mitchell on Zoom’s warning for other companies in China.  Companies raise $400bn over three weeks in blistering start to 2021 https://www.ft.com/content/45770ddb-29e0-41c2-a97a-60ce13810ff2 Leon Black steps down as chief executive of Apollo https://www.ft.com/content/97fdc05b-d3cd-45b7-b155-5f4ab525c59a Zoom spy claims a warning for multinationals in China https://www.ft.com/content/75ca2308-a192-4118-8283-fa8147ec39ce San Francisco 49ers lift stake in Leeds United https://www.ft.com/content/da10082e-5723-4783-8820-76f58d98d1af  See acast.com/privacy for privacy and opt-out information.

The US has signalled a more confrontational stance toward Russia after Moscow cracked down on protesters over the weekend. In Congress, Democrats have said they want a deal on President Biden’s $1.9tn stimulus plan before taking up Donald Trump’s impeachment trial in the Senate. The WHO warns richer countries that they face a hit to their own recoveries if they fail to help the developing world roll out vaccines, and the technology for self-driving cars continues to be a grind.  US demands release of Navalny after Russia cracks down on protesters https://www.ft.com/content/3bacc3d7-b1ea-41ef-a949-0f60db7b8243 What effect will Biden Stimulus have on Fed policy https://www.ft.com/content/e54712dd-bb35-43e4-8533-f1ae28fec054 Vaccine delays in poorer nations threaten advanced economies https://www.ft.com/content/53c668bc-1066-4d8c-8c8d-5d29ba34a06e Rolling out driverless cars is “extraordinary grind,” says Waymo boss https://www.ft.com/content/6b1b11ea-b50b-4dd5-802d-475c9731e89a  See acast.com/privacy for privacy and opt-out information.

President Joe Biden has moved to have the US rejoin the Paris climate accord, but becoming a leader in lowering carbon emissions will not be so easy. Then, a look at how the European Central Bank is bracing for the latest phase of the pandemic-induced economic crisis. Plus, the FT’s art market columnist, Melanie Gerlis, explains how auction houses and galleries are surviving and adapting to the pandemic.  The US will rejoin the Paris climate accord — what happens now? ft.com/content/81dd2826-55b6-44c2-b981-88717ec70314? ECB details bond-buying shift as it holds rates and stimulus steady https://www.ft.com/content/14821fa0-0e3e-4a95-8414-53a257ee9142 Art market: Predictions for 2021 https://www.ft.com/content/86c27d1c-ff65-40a2-b6b2-d4add0209ffa  See acast.com/privacy for privacy and opt-out information.

Company leaders have warned they will fight Biden Administration moves to raise corporate taxes and tighten regulation, and earnings reports show that big US banks had a strong end to 2020 thanks to trading. Plus, the FT’s Javier Espinoza continues his conversation with the European Commission’s competition and digital policy chief, Margrethe Vestager, about the future of big tech regulation.  Business to Biden: prepare for a fight over tax and minimum wage https://www.ft.com/content/7027014e-9478-4320-97ee-a1c8144b4638 Vestager warns Big Tech to cooperate or face patchwork of laws across EU https://www.ft.com/content/2bd619a2-dee0-492a-b397-73a0ba00e369 Morgan Stanley posts record profit as trading booms https://www.ft.com/content/0f44d1b7-d79f-4c2a-b45e-d4c2d0ce4637  See acast.com/privacy for privacy and opt-out information.

Joe Biden faces a long list of challenges after he is sworn in as the 46th US president today, Mr Biden’s nominee to serve as Treasury secretary, Janet Yellen, told Congress to “go big” on stimulus during her Senate confirmation hearing on Tuesday, and a US court has struck down the pro-coal power sector rules set by the outgoing president, Donald Trump. Plus, the FT’s Javier Espinoza speaks with Margrethe Vestager, the EU’s executive vice-president in charge of digital policy, about the future of tech regulation.  Joe Biden’s challenge: big, early victories in a toxic political climate  https://www.ft.com/content/fa01bc64-a80c-4c32-abad-f8eb778c4fe6 US court strikes down Trump’s pro-coal power sector rules https://www.ft.com/content/fed06dac-7c84-47be-a137-0480518a9e98 Vestager warns Big Tech to cooperate or face patchwork of laws across EU https://www.ft.com/content/2bd619a2-dee0-492a-b397-73a0ba00e369 Netflix signals stock buybacks to come as subscribers hit 200m https://www.ft.com/content/ae6f0ad5-a685-4eab-86f5-a65e8c7021ef  See acast.com/privacy for privacy and opt-out information.

The cost of shipping goods from China to Europe has more than tripled in the past eight weeks as the pandemic disrupts global trade, Russian opposition activist Alexei Navalny has been sent to prison just a day after returning to his home country despite international demands to release him, and Italian prime minister Guissepe Conte faces a crunch confidence vote by lawmakers today. Plus, the FT’s US investment editor, Michael MacKenzie, explains why the chief executive of Brookfield Asset management thinks the markets have undervalued real estate.    Tripling of China-Europe shipping costs threatens to hit goods supply ft.com/content/ad5e1a80-cecf-4b18-9035-ee50be9adfc6? Russia jails opposition activist Alexei Navalny for 30 days https://www.ft.com/content/9c42f190-5ec2-4ad7-8bc6-f9e449200a9f Italian coalition parties back PM Conte after resignations https://www.ft.com/content/4cf07e94-d7ad-408c-bf08-1093318c8b48 Markets are underestimating the lure of the office, says Brookfield chief https://www.ft.com/content/0316678b-664a-42f8-900a-5c5b5076e29e?  See acast.com/privacy for privacy and opt-out information.