FT News Briefing

The FT’s DC bureau chief Demetri Sevastopulo explains the politics behind Donald Trump’s soon to be revealed Supreme Court justice nominee. Plus, why Donald Trump will not commit to a peaceful transition of power and a preview of next week’s first presidential debate between Trump and Democratic nominee Joe Biden  How Trump’s Supreme Court pick could reshape law on abortion and guns https://www.ft.com/content/de654768-67f5-482d-893b-24107b45113b Donald Trump steps up fight over Supreme Court nominee https://www.ft.com/content/a08b21d4-3745-4aa2-83de-04a06013d026  See acast.com/privacy for privacy and opt-out information.

Brussels steps up its campaign against sweetheart corporate tax deals in the EU, TikTok has asked a federal judge to prevent the Trump administration from blocking downloads of the video-sharing app, and the pandemic caused workers around the globe to lose more than $3.5tn of income. Plus, Turkey’s lira is struggling despite the government’s best efforts to lift the currency. The FT’s Laura Pitel explains if the country’s central bank can do anything about it.  Brussels ready to clamp down on sweetheart corporate tax deals ft.com/content/7c156756-57a1-4554-af78-d795a41d13f9?edit=true TikTok requests injunction against ban deadline https://www.ft.com/content/e8c5cb67-f16b-4790-8617-f142f4dc013a Pandemic knocks a tenth off incomes of workers worldwide https://www.ft.com/content/fabd4737-fa29-45ca-ad62-1b04c71d7b6a Lira sinks even as Turkey spends billions of dollars to prop it up https://www.ft.com/content/737b5d1a-64d0-4e2d-8ca1-e7bcd4ff4487  See acast.com/privacy for privacy and opt-out information.

Facebook, YouTube and Twitter have reached a deal with big advertisers on harmful content, the Covid-19 pandemic will destroy at least 100m jobs worldwide this year and the Bank of England rules out negative interest rates in the near future. Plus, the FT’s Brussels bureau chief, Sam Fleming, explains how the European Union is preparing its financial centers once the UK leaves the bloc.  Advertisers strike deal with Facebook and YouTube on harmful content ft.com/content/d7957f86-760b-468b-88ec-aead6a558902? Andrew Bailey rules out UK negative rates in near future https://www.ft.com/content/ecc4a23d-f175-41e9-8f07-852dbe03d062 Brexit and the City: Brussels’ new battle to rival London in finance https://www.ft.com/content/dd7e6828-f603-47bf-bdd7-61e9dcb5f9ac  See acast.com/privacy for privacy and opt-out information.

Global stocks suffered a heavy hit on Monday in a rush of nerves about potential new Covid-19 lockdowns, and LVMH’s attempt to walk away from its $16.6bn takeover of Tiffany will go to trial in January. Plus, the FT’s Richard Waters will explain what is in store for Tesla’s Battery Day today and whether the car company can fight off the competition.  Global stocks sink on fears of new Covid lockdowns https://www.ft.com/content/7da536fa-1e96-461c-8172-4aa6c5a8fa8e Tiffany gets speedy trial over LVMH’s bid to ditch takeover deal ft.com/content/e7b7f86b-28c7-4cec-a282-7e8dee63e425? Beyond the market hype: Tesla tries to expand its lead in batteries https://www.ft.com/content/2e5731a1-c7ac-4f3e-ba0a-d9bae5b7fa67  See acast.com/privacy for privacy and opt-out information.

Rishi Sunak is set to extend the Treasury’s UK-wide programme of business support loans ahead of what’s expected to be a challenging winter for Covid-19, the European Central Bank has launched a sweeping review of its main pandemic crisis-fighting tool, and Donald Trump has said that the new Oracle-ByteDance partnership will finance a “patriotic” education fund. Plus, the FT’s US energy editor Derek Brower will explain whether the poisoning of Russian activist Alexei Navalny will affect the completion of the Nord Stream 2 pipeline.  Sunak to extend business support loans as Covid-19 spread worsens ft.com/content/dfdff1fd-503a-4231-812f-40be4cc4c2b7? ECB to review flagship bond-buying tool in fighting Covid crisis https://www.ft.com/content/8ff55eff-ed3a-49db-b26a-2f49fa7822d4 Doubts surround ‘education fund’ at heart of US TikTok deal https://www.ft.com/content/4a9bb9aa-45e3-43b2-9759-3313751ffc8b EU gas groups exposed as pipeline politics threaten Nord Stream 2 https://www.ft.com/content/2c713b40-ae7f-47a7-b050-e91ca0879c8f  See acast.com/privacy for privacy and opt-out information.

ByteDance has agreed to list TikTok on a US stock market at some point after its proposed partnership deal with American software group Oracle, and Donald Trump ’s special envoy to Northern Ireland has warned against creating a “hard border by accident”. Plus, the FT’s Demetri Sevastopulo explains why Democratic US presidential nominee Joe Biden is struggling with Latino voters.  ByteDance proposes US IPO for TikTok to woo White House https://www.ft.com/content/8d2c74d6-d742-4fa9-b7cf-5af9bb85af6b Trump’s Northern Ireland envoy issues border warning ft.com/content/e71b7301-4b35-4a13-bee2-f9446b438e05 Biden struggles to close enthusiasm gap with Latino voters ft.com/content/a8d65f78-6656-4ed5-a908-695a8be54f48  See acast.com/privacy for privacy and opt-out information.

The Federal Reserve projects no interest rate increases until at least the end of 2023, and US President Donald Trump has urged Senate Republicans to increase the size of their stimulus proposal. Plus, the FT’s Miles Kruppa explains the excitement behind cloud computing company Snowflake's initial public offering.  Fed signals rock-bottom rates until at least end of 2023 https://www.ft.com/content/827302da-4257-4bbc-a0fa-9bc98f65d661 Trump nudges Republicans to increase economic stimulus offer https://www.ft.com/content/e7228443-36ad-4fe9-aa2c-2d0ddefda12b Snowflake doubles in first trades after largest-ever software IPO https://www.ft.com/content/eb8e37c9-b4a5-4b4c-a3cf-2eeac98a8f2b  See acast.com/privacy for privacy and opt-out information.

ByteDance will place TikTok’s global business in a new US-headquartered company with Oracle investing as a minority shareholder, FedEx delivered a forecast-beating fiscal first quarter on the back of strong demand for international shipping, and investors will look to the Federal Reserve’s policy-setting committee today for more detail on the central bank’s new inflation policy. Plus, the FT’s motor industry correspondent, Peter Campbell, explains how truckmaker start-up Nikola is defending itself after a short seller’s report claimed the business was an “intricate fraud”. TikTok set to become a standalone US company to satisfy White House https://www.ft.com/content/58eb7c26-2154-477f-af19-19157ae29261 FedEx results deliver as pandemic drives ecommerce boom https://www.ft.com/content/86e2dc79-e662-3d6f-8252-4ff5fe979fdd#post-54430 US Justice Department inquires into Nikola fraud claims https://www.ft.com/content/a45a6638-167b-4e27-a9fd-576e7229f959 Germany to take in 2,750 migrants from Greek camps https://www.ft.com/content/50be2fb8-215e-4780-8ece-3163e9ed0819  See acast.com/privacy for privacy and opt-out information.

The Trump administration will review the “technical partnership” deal struck between Oracle and ByteDance before deciding whether to approve the agreement, Nvidia’s $40bn agreed purchase of Arm Holdings gives the US company control over a technology that powers everything from mobile devices to data centres, and a Volkswagen executive claims scandals such as “Dieselgate” could no longer pass undetected at Volkswagen. Plus, the FT’s venture capital correspondent, Miles Kruppa, explains what the Trump Administration is considering as it reviews the partnership agreement between ByteDance and Oracle.   Trump administration to review Oracle’s TikTok deal this week https://www.ft.com/content/0ccd4a25-381f-46a7-a9e6-ee12ecf1aa88 Nvidia secures control of key global tech with $40bn Arm deal https://www.ft.com/content/5bc5d0dc-24cd-407f-9fde-0d38c157d833 Dieselgate could not happen again, VW executive claims https://www.ft.com/content/777cee39-f811-47d5-9841-5952f9a8bab7? Carlos Ghosn’s deputy goes on trial in Japan https://www.ft.com/content/03d8a98b-07b1-4d33-b837-64f065446448?  See acast.com/privacy for privacy and opt-out information.

SoftBank executives have revived discussions about taking the technology group private, and Netflix is expected to outspend all its major rivals on entertainment content this year. Plus, the FT’s Europe editor, Ben Hall, explains why France and Germany took different approaches to Covid-19 stimulus and why France’s might be considered more of a gamble.   SoftBank executives revive talks on taking Japanese group private ft.com/content/a83648a9-62fe-41d2-88e4-870fb2665b60? Netflix to take crown for spending on films and television ft.com/content/7d66dd4c-440c-44d3-a234-39346fb69a91? France launches €100bn coronavirus recovery plan ft.com/content/0921c871-17b5-4e2e-bdea-aab78c2d0090 Germany’s ‘ka-boom’ stimulus marks a surprising change https://www.ft.com/content/29ddcad4-aa2c-11ea-a766-7c300513fe47 Oracle wins bidding war for TikTok’s US operations https://www.ft.com/content/4860ec09-212b-45c2-9cc3-27f731816130?  See acast.com/privacy for privacy and opt-out information.

Brussels has threatened legal action over the UK Brexit treaty breach, and Citigroup will become the first big Wall Street Bank to be run by a female chief executive after appointing Jane Fraser as Mike Corbat’s successor. Plus, the FT’s Tokyo Bureau chief, Robin Harding, will give us a glimpse of what Japan might look like under prime ministerial frontrunner Yoshihide Suga.  Citi becomes first big Wall Street bank to be run by female CEO https://www.ft.com/content/029264f1-f9a6-44c4-aa3e-86c7d50e3b55 Suganomics’ from A to Z: policies of Japan’s PM frontrunner https://www.ft.com/content/4741f081-cc97-4a46-bdcf-50cdb6336808 Russian hackers are targeting both US parties, Microsoft says https://www.ft.com/content/29476d87-0eab-4d2b-b3a6-58e3536807ef  See acast.com/privacy for privacy and opt-out information.

Some of Wall Street’s most powerful financial institutions are striking deals in China even as relations sour between Beijing and the US, and the European Central Bank will address the strong euro situation...without using its most effective tool. Plus, the FT’s James Fontanella-Khan on why LVMH says it can no longer complete a $16.6bn deal with US jewelry company, Tiffany.  Wall Street brushes off political tensions to dig deeper into China https://www.ft.com/content/01f92c8b-11dc-431c-adaf-c299e3964ff1? ECB will struggle to rein in the euro, say investors https://www.ft.com/content/5d935f19-9891-48bb-bfbf-482818de8b63 LVMH says it cannot complete Tiffany takeover after France intervenes https://www.ft.com/content/a3dcc777-ab12-4ee9-a147-54de1ac0f7e7 The FT’s New Economic Reality event  https://nersciencemarkets.live.ft.com/home?segmentId=dc611fd0-c193-49f1-dc6a-217255a89d6c&utm_campaign=FEEAK  See acast.com/privacy for privacy and opt-out information.

Workplace messaging app Slack forecast a sharp revenue slowdown in the current quarter from the loss of customers due to the economic downturn, Apple has countersued Epic Games and accused it of masquerading as a “modern corporate Robin Hood”, and a look at SoftBank’s role as the “Nasdaq whale”. Plus, the FT’s Peter Foster explains how the UK is in danger of jeopardizing its Brexit withdrawal agreement with the EU.   See acast.com/privacy for privacy and opt-out information.

It has been about six months since coronavirus shook the west. We’ll talk to the FT’s Gillian Tett and Hannah Kuchler about how the pandemic has changed the global economy and the medical industry community in such a short amount of time.   See acast.com/privacy for privacy and opt-out information.

The technology stocks that have powered US equities to record highs this summer went into sharp reverse on Thursday, and Apple has for the first time published a human rights policy that commits to respecting “freedom of information and expression”. Plus, the FT’s Katrina Manson will explain why the US military is eyeing a new generation of space weapons.  US shares slide 3.5% as tech stocks go into sharp reverse https://www.ft.com/content/acbd4efd-e8ef-4d16-bf0c-83fc4df83601 Apple commits to freedom of speech after criticism of China censorship ft.com/content/a88f5d3d-0102-4616-8b3f-cb0661ba305d? US military officials eye new generation of space weapons https://www.ft.com/content/d44aa332-f564-4b4a-89b7-1685e4579e72  See acast.com/privacy for privacy and opt-out information.