FT News Briefing

Thousands of National Guard troops are being deployed to Washington to safeguard the capital for the inauguration of Joe Biden. The president-elect is already planning which executive orders he will sign, but there is still time for President Trump’s secretary of state to leave his mark on foreign policy. Germany’s ruling party, the Christian Democratic Union, has a new leader to replace Angela Merkel. Plus, the FT’s Tim Bradshaw reports that the pandemic tech boom is leaving cities with better logistics networks.    Washington fortified for Biden’s inauguration amid fears of more violence https://www.ft.com/content/94db9b9b-243b-4ce8-9e10-452fadc523ec Pompeo tries to pin Biden down with parting foreign policy blitz https://www.ft.com/content/2b4e9369-8da5-4d12-b720-59b68a2136e6 Angela Merkel’s heir apparent: Armin Laschet’s rise to the summit of German politics https://www.ft.com/content/371d6d1b-d95e-4d69-a3b3-b89ae71c03d7 The pandemic tech boom is reshaping our cities   https://www.ft.com/content/40c3a928-6faf-4746-903d-3a114aac3878 Indonesia deploys social media influencers in vaccine drive https://www.ft.com/content/adb9d6c6-ab89-4fe4-aae9-4b226e5f879f  See acast.com/privacy for privacy and opt-out information.

Joe Biden plans to ask Congress for a $1.9tn economic rescue package, Federal Reserve chairman Jay Powell assures markets that asset purchases will continue, four big US banks report quarterly earnings, and far-right groups find alternative internet platforms to rally for further unrest. Plus, the FT’s Guy Chazan on who is vying to replace Angela Merkel as leader of Germany’s ruling party.  Biden to push $1.9tn stimulus for pandemic-battered US economy https://www.ft.com/content/05e07e0d-1f2a-45da-bafb-367f4100c26a Powell moves to stamp out market fear of exit from loose policy https://www.ft.com/content/21d89f6d-be8f-48dc-9085-1e9baabcbdbe Top US banks set for $10bn round of buybacks https://www.ft.com/content/c2b155a3-8901-4011-be32-fde3f4bad740 Far-right turns to alternative platforms to stoke further unrest https://www.ft.com/content/f5c4679b-20c5-4b68-bb6d-958f17385183? After Merkel: the battle for the soul of the Christian Democratic Union https://www.ft.com/content/ce034f34-cbc6-4ea9-8c16-41fc939fc0fe  See acast.com/privacy for privacy and opt-out information.

Donald Trump has become the first US president in history to be impeached twice, New York City cuts business ties with the Trump Organization, and the City of London has a post-pandemic recovery plan. Plus, the FT’s Beijing bureau chief, Tom Mitchell, explains what the clash between Jack Ma and Beijing means for China’s private sector.  Donald Trump is impeached for second time https://www.ft.com/content/fc81c3df-f6c0-47c2-8efc-5a14d511f7e7 New York City is latest to cut ties with Trump businesses https://www.ft.com/content/11b92247-b405-4e03-808d-2b802c63ff38 Jack Ma vs Xi Jinping: the future of private business in China https://www.ft.com/content/751c2500-f50d-47c9-8f04-a28ad62285fd?segmentId=6bf9295a-189d-71c6-18fb-d469f27d3523 City of London sets out five year post-pandemic recovery plan ft.com/content/91c887fc-29ef-472f-8e3f-22cb7d21573a?  See acast.com/privacy for privacy and opt-out information.

Facebook-owned WhatsApp is scrambling to stave off privacy concerns following a recent update to its terms of service; greenhouse gas emissions in the US rose less in 2020 than in any year since the second world war; China’s fast-growing tech industry is in the spotlight for harsh working conditions. Plus, the FT’s Richard Waters reports on the growth of Microsoft Teams and what it could mean for the future of online work. What’sApp fights back as users flee to Signal and Telegram  https://www.ft.com/content/ee1b716d-4ed2-4b26-8da1-40c98db7b9b6? US emissions rise the least since second world war during pandemic ft.com/content/1b1dfaf0-4dfb-4788-9270-f880242b2a56? Pinduoduo hit by new allegations over working practices https://www.ft.com/content/cc7aa0f0-ca28-4bf1-a3a1-823cc5e6fad1 Microsoft looks to make 2021 the year of Teams https://www.ft.com/content/1bbe1b15-dde6-4a3b-9728-8991818b6c92  See acast.com/privacy for privacy and opt-out information.

U-S corporations are reviewing their political donations after the attack on the Capitol building, and research has found the huge global cyber espionage campaign discovered last month was carried out using tools similar to those developed by known Russian hacking group, Turla. Plus, the FT’s Turkey correspondent, Laura Pitel, explains how Recep Tayyip Erdogan’s aggressive foreign policy moves have left Ankara isolated from the west.  Corporate American pulls political donations after assault on Capitol  https://www.ft.com/content/be344816-3fab-42e2-99ed-38309d06a435 SolarWinds cyber attack linked to tools used by Russian hacking group https://www.ft.com/content/e1b247d5-ef53-4e82-afc3-9e3c2d7c5e2c Erdogan’s great game: Soldiers, spies and Turkey’s quest for power https://www.ft.com/content/8052b8aa-62b9-40c9-a40c-d7187d5cd98a?  See acast.com/privacy for privacy and opt-out information.

Technology companies are blocking President Donald Trump from their platforms, renters fleeing U-S cities are straining the market for  mortgage-backed securities, and Europe tries to enforce its investment deal with China. Plus, the Consumer Electronics Show kicks off, virtually. Twitter vs Trump: has Big Tech gone too far? ft.com/content/6df12c33-e7a3-482b-92da-8c3549789a6b? Fading allure of urban life leaves dent on US mortgage bonds  ft.com/content/67cb87c0-ef93-410f-90bc-60ffaf42af5e? EU and China agree new investment treaty https://www.ft.com/content/6a429460-4bfb-42d4-9191-73ba97dde130 CES enters the pandemic era, taking a turn for the practical https://www.ft.com/content/5c6b159c-da65-439f-8831-708cc0930aae  See acast.com/privacy for privacy and opt-out information.

President Trump concedes power for the first time and calls for an orderly transition: the FT’s US managing editor Peter Spiegel looks at how Joe Biden can unite a divided nation; global markets have continued rising despite the chaos in Washington; Boeing agrees to pay $2.5bn to resolve a criminal charge stemming from the 737 Max crashes; and counter-culture icon Neil Young cashes in on the music streaming boom.  Democratic leaders call on Pence to force Trump from White House https://www.ft.com/content/cecab0e3-ddb6-40fa-a78b-1d98fb3f7759 Boeing to pay $2.5bn to resolve criminal case over 737 Max crashes https://www.ft.com/content/1e64a9ea-4659-4513-b82f-0a4b5e7cae1c Blue sweep of Congress will add pressure to weak dollar, analysts say https://www.ft.com/content/9e58d2fb-37c5-432e-b4c6-dcf862d43b7d Neil Young joins music rights gold rush after striking Hipgnosis deal https://www.ft.com/content/dd67a2ab-d6e1-4334-ae45-ef1bf65f1e82 Review clip: Silver Fiddle Music, Hipgnosis  See acast.com/privacy for privacy and opt-out information.

Congressional leaders reconvened on Wednesday night to certify Joe Biden’s victory in November’s presidential election, defying pro-Trump rioters who attempted to scupper the process by storming the Capitol earlier in the day. The FT’s US managing editor, Peter Spiegel, reports on a frantic day in Washington.  Further reading: Angry mobs of Trump supporters interrupt transfer of power https://www.ft.com/content/9a37c259-f7c8-4cca-9a00-83e7e5b9287d ‘Blue wave’ trade back on after Georgia Senate poll https://www.ft.com/content/15c8d75b-07dd-4382-8b98-bcc8fa0c900a New York Stock Exchange reverse course again on China delistings https://www.ft.com/content/83cd59a9-05ba-4639-8ee4-2cb6c04e89e2  See acast.com/privacy for privacy and opt-out information.

Saudi Arabia pledged to cut an extra 1m barrels a day of oil output in February and March, and also has agreed to end its dispute with Qatar. Plus, the FT’s US business editor, Andrew Edgecliffe-Johnson, explains why businesses are making their voices heard when it comes to the Republican rebellion against the outcome of the presidential election.  Saudis pledge to cut oil output despite Russian increases ft.com/content/c5468924-5383-4717-81c8-5d0658748f31? Saudi Arabia and allies to restore ties with Qatar https://www.ft.com/content/ad2eb477-b8f8-4dae-9e4c-a441759fc897 Diehard Trump Republicans on collision course with US business ft.com/content/9fe61a5e-b57a-4a99-8985-ad7867a500b0?  See acast.com/privacy for privacy and opt-out information.

US equities had their worst day since October as spiking coronavirus cases and lockdowns shook investors, nearly €6bn of EU share dealing shifted away from London in the first trading day after Brexit, and China’s currency has rallied to its highest level in more than two years. Plus, the FT’s economics editor, Chris Giles, explains why the OECD’s top economist wants governments to rethink their constraints on public spending.  EU shares trading flees London on First day after full Brexit https://www.ft.com/content/a434b756-afe0-454d-9d70-ef2d42ea8d55 Wall Street suffers worst day since October on virus advance  https://www.ft.com/content/82e8a6ee-78a3-4ed1-aa13-bf6a67e58d97 Renminbi rallies past 6.5 per dollar for first time since 2018 https://www.ft.com/content/c91a70d8-001c-4924-9bfa-9b5c21099112 OECD warns governments to rethink constraints on public spending https://www.ft.com/content/7c721361-37a4-4a44-9117-6043afee0f6b  See acast.com/privacy for privacy and opt-out information.

Businesses face a wave of new bureaucracy and checks at ports now that the UK is officially outside of the EU’s single market and customs union, European countries debate more restrictions aimed at containing the spread of coronavirus, and law firms ditch their UK trophy offices. Plus, the FT’s deputy markets news editor, Ian Smith, tells us about Bitcoin’s latest milestone.  European countries set to extend lockdowns as Covid cases surge https://www.ft.com/content/3292fc38-7945-4d7e-b8ed-582146ebe782 Bitcoin tops $34,000 as record-breaking rally resumes https://www.ft.com/content/314f6c8a-ff7f-4a52-b5d1-98eb36a7bf40 Law firms ditch trophy office moves as pandemic reshapes City ft.com/content/e4f4e5f1-72b7-458a-a7bd-eb361cdc970b? Payne’s Politics: Brexit has arrived https://www.ft.com/content/4006f4bc-508e-4f5d-bd76-f6db05ef10f1  See acast.com/privacy for privacy and opt-out information.

Britain and the EU were finalising a historic post-Brexit agreement on Wednesday night.  Plus, Beijing’s market regulator has announced an antitrust investigation into Alibaba, China’s ban on Australian coal exports is hurting its companies, and the FT’s US business editor, Andrew Edgecliffe-Johnson, looks at 2020’s corporate winners and losers as well as who might rebound in 2021.  Britain and EU poised to announce Christmas Eve Brexit deal ft.com/content/4993212f-25c8-479e-83d6-f7db3731d1be? China launches antitrust investigation into Alibaba ft.com/content/bdcc073f-3b70-4411-92d7-ee36973a8b7a Politics come first’ as ban on Australian coal worsens China’s power cuts https://www.ft.com/content/e83fffeb-3ef2-4b67-8989-6d17f153d8d4 Prospering in the pandemic: the top 100 companies https://www.ft.com/content/844ed28c-8074-4856-bde0-20f3bf4cd8f0  See acast.com/privacy for privacy and opt-out information.

France is set to reopen its borders with the UK to truck drivers who test negative for Covid-19, Boris Johnson and European Commission president Ursula von der Leyen aim for a Brexit trade deal by tonight, the US government sues Walmart for links to the opioid epidemic, and the botched launch of the video game Cyberpunk 2077 has prompted a shift by Sony. Plus, the FT’s consumer industries reporter, Patricia Nilsson, reveals how the dominant player in online porn operates its business.   France to reopen border with UK ft.com/content/e2d2e680-752a-44a5-b014-60cd837532e7 Johnson and Von der Leyen intensify ‘hotline talks in Brexit deal push  ft.com/content/3576910f-6c51-4ad0-8ad1-75fb51641747 US sues Walmart alleging role in country’s opioid crisis ft.com/content/2d9484ee-64a7-4bb6-8287-587f94c34b43? Cyberpunk 2077 debacle prompts shift by Sony  ft.com/content/8af5618d-ca83-43f9-9f51-56b75ff9f181 MindGeek: the secretive owner of Pornhub and RedTube ft.com/content/b50dc0a4-54a3-4ef6-88e0-3187511a67a2  See acast.com/privacy for privacy and opt-out information.

Global stock markets slipped and the price of oil declined on fears over the new strain of coronavirus sweeping through parts of Britain. The FT’s science editor, Clive Cookson, explains what scientists know about the strain and how it will affect efforts to beat the pandemic. Plus, SoftBank has filed to raise up to $604m from investors for its first blank-cheque listing, and upscale sportswear company Lululemon is making a push into overseas markets. Global stocks slip as new Covid strain unsettles investors https://www.ft.com/content/58ce50e1-fb49-4743-8f82-0a7a5ff1e896 What we know about the new coronavirus strain https://www.ft.com/content/a8cf7f88-7bfc-46c5-bb25-a914266f0377 SoftBank launches Spac, says it may buy one of its own investments ft.com/content/65fd4a73-f277-415f-83b5-a3a68a5d4e27 Lululemon plans overseas expansion as yogawear booms ft.com/content/c3ae04c5-ea00-452b-a33f-6a02adb5ca34?  See acast.com/privacy for privacy and opt-out information.

Several EU countries have banned travel from the UK as scientists identify a new strain of Covid that is 70 percent more transmissable, in the US, lawmakers reached a deal on Sunday night over a new round of stimulus, and shopping sites delivering from China are rushing to build their own global freight networks. Plus, our Brexit editor asks whether the UK’s stock market can ever get its mojo back. Scientists alarmed at spread of Covid mutant https://www.ft.com/content/a0bef737-c763-447a-b1f3-0649dc5989a0 US lawmakers reach deal on $900bn stimulus package https://www.ft.com/content/6c953f0e-b229-42c1-959e-ef62196ef4d6 Shopping sites in China are building their own global freight networks https://www.ft.com/content/8af9c8f3-7ab3-4316-b014-c00e7d8ec83d Can the UK stock market get its mojo back? https://www.ft.com/content/ca6e6558-c55a-478b-a35d-81958d0c2890  See acast.com/privacy for privacy and opt-out information.