FT News Briefing EU travel bans, US stimulus, the City after Brexit
Dec 21, 2020
Several EU nations have imposed travel bans on the UK due to a highly transmissible Covid variant. In the US, lawmakers have struck a deal for a new $900 billion stimulus package. Meanwhile, Chinese shopping sites are racing to establish their own global freight networks. The discussion also delves into the UK's stock market struggles post-Brexit and examines the challenges London faces in maintaining its global financial status against rising competition from EU and Asian markets.
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New Coronavirus Variant
- A new coronavirus variant, B.1, is spreading rapidly in the UK and has been detected in other countries.
- It has an unprecedented number of mutations and is quickly replacing other strains.
Travel Bans
- Several EU countries banned travel from the UK after the new variant emerged.
- This followed Boris Johnson's reversal of relaxed Christmas restrictions.
US Stimulus Package
- US lawmakers agreed on a $900 billion stimulus package, the second largest in US history.
- It includes direct payments, unemployment benefits, small business relief, and increased food assistance.