FT News Briefing US ballot count continues, Ant IPO stalls
Nov 4, 2020
The ongoing uncertainty of the U.S. presidential election is causing delays in ballot counting, raising concerns over legal challenges and potential voter fraud. Business leaders are anxious about the implications for democratic stability and their operations. Meanwhile, China has taken a surprising step by suspending Ant Group's $37bn IPO due to regulatory scrutiny, which could have major repercussions for the fintech sector. The call for urgent economic stimulus adds another layer to the current business climate.
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US Election Uncertainty
- The US presidential election results are unclear, with key swing states still counting ballots.
- While Biden secured expected liberal states, Trump performed well in swing states, leaving the outcome uncertain.
Delayed Election Results
- The final election outcome might be delayed for days, particularly due to ballot counting in key Midwest and Mid-Atlantic states.
- These states, including Pennsylvania, Michigan, and Wisconsin, have tight margins and slower counting processes due to COVID restrictions.
Complex Senate Race
- The U.S. Senate race, like the presidential race, is complex and uncertain.
- Democrats' hopes of gaining seats haven't materialized, with Georgia's Senate seats possibly going into runoffs in January.