FT News Briefing Covid-19 vaccine makers seek protections, US homebuilder stocks rise, Ant IPO
Aug 26, 2020
European vaccine makers are lobbying for legal protections as they innovate new Covid-19 vaccines. In a booming market, US homebuilder stocks are reaching all-time highs, driven by low mortgage rates. Meanwhile, Ant Group is gearing up for a potentially record-breaking IPO outside the US, revealing impressive profits. The podcast also delves into the trend of Chinese financial firms moving to Hong Kong amidst regulatory challenges, along with a nod to Napster's evolution into a legitimate streaming service.
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Vaccine Liability Concerns
- European drug companies want liability protection from the EU for coronavirus vaccines.
- This is due to the speed of vaccine development and associated risks.
Booming Housing Market
- Low mortgage rates and increased savings are driving a surge in U.S. home sales.
- The Dow Jones Home Construction Index is up nearly 30% this year.
Ant Group's IPO
- Ant Group, a Chinese payments company, is seeking a record $30 billion IPO in Hong Kong and Shanghai.
- The company chose not to list in the U.S. due to trade tensions and a desire to be closer to its primary market.