FT News Briefing US congress to vote on $1.9tn stimulus bill, scaling up green hydrogen, Coupang’s IPO
Mar 10, 2021
President Biden's massive $1.9 trillion stimulus plan is set to boost the global economy, according to the OECD. In Europe, the pandemic is taking a toll on birth rates, raising concerns for the future. Meanwhile, Coupang's IPO faces scrutiny amidst troubling labor practices. The spotlight shines on green hydrogen as a promising alternative to fossil fuels, sparking interest in its production methods and potential for a cleaner energy landscape. The race for energy innovation continues, alongside developments in the European cannabis market.
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Biden's Stimulus Plan
- The U.S. House is voting on Biden's $1.9 trillion stimulus plan, a key milestone in his first 100 days.
- Economists believe this will boost the U.S. economy, potentially adding 7 million jobs, despite concerns about inflation.
Pandemic Baby Bust
- The pandemic has caused a sharp decline in birth rates across Europe, notably a 13% drop in France.
- This unprecedented drop is attributed to economic concerns and health fears.
Coupang's Controversial IPO
- Coupang, a South Korean e-commerce giant, faces accusations of worker abuse and deaths amidst its upcoming $50 billion NYSE listing.
- Despite investing in workload reduction, worker conditions remain questionable, raising concerns for investors like SoftBank and BlackRock.