FT News Briefing Understanding eurozone inflation, Zoom sales up, Mnuchin and Powell testify before US Congress
Dec 1, 2020
Explore the rising costs of everyday goods in the eurozone, which are outpacing overall inflation. Discover how Zoom's revenues skyrocketed as remote work remains a staple. Learn about the landmark agreement among Eurozone finance ministers to bolster bailout strategies. Gain insights into the U.S. economic outlook as key officials prepare to testify before Congress, addressing pandemic-related challenges and future stimulus efforts.
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Unreliable Inflation Data
- Eurozone inflation data is unreliable due to pandemic-altered consumer habits.
- The standard inflation index doesn't reflect actual consumer experiences.
Zoom's Growth and Share Drop
- Zoom's sales quadrupled, hitting $777 million, compared to $167 million last year.
- Despite projected revenue growth, Zoom shares fell after-hours.
ESM Revamp Deal
- Eurozone finance ministers reached an agreement to revamp the European Stability Mechanism (ESM).
- The deal involves creating a backstop for bank rescues, but needs parliamentary approval.