FT News Briefing Investors gain hope, Italy isolated, Rana Foroohar
Apr 7, 2020
Global equities are on the rise as signs emerge that the coronavirus outbreak is stabilizing. In Italy, feelings of betrayal grow as the nation faces severe economic downturn and grapples with the lack of support from European neighbors. The discussion highlights the need for collective solidarity within the EU. Additionally, there's a strong call for significant investment in broadband infrastructure to accommodate the surge in internet usage during lockdowns, treating it as an essential public utility.
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Stock Market Surge
- Global equities and U.S. stocks surged on Monday due to encouraging news about the coronavirus death toll.
- Investors are hopeful that the rate of infection might be stabilizing, especially in hard-hit countries.
Italy's Crisis and European Response
- Italy is facing a severe crisis with a high death toll and a struggling economy due to the coronavirus.
- They feel abandoned by their European neighbors, particularly Germany and the Netherlands, who are hesitant to provide financial assistance.
Broadband Strain and Potential Solutions
- Increased internet usage during lockdowns is straining broadband infrastructure, especially in the U.S.
- Rana Foroohar suggests a public-private partnership, including big tech companies, to fund broadband improvements.