The UK’s Competition and Markets Authority is set to ask Brussels for full control over the review of the proposed £31bn merger between Virgin Media and O2, US consumers are expected to spend $710bn online in 2020, and American Airlines says it could have over 20,000 front-line employees more than it needs this autumn to operate its reduced flying schedule. Plus, the unemployment rate for black Americans remained higher in June than for all other groups. Economist Valerie Wilson explains why black workers are being disproportionately affected by coronavirus and what policy measures might help. Hosted on Acast. See acast.com/privacy for more information.

US public health experts are warning of a heightened risk of coronavirus transmission during US Independence Day celebrations, EU regulators are asking more questions about Google’s proposed $2.1bn takeover of fitness tracker Fitbit, and the FT’s  James Kynge explains how China’s national security law affects both Hong Kongers and foreigners living in the territory. Plus, the FT’s Judith Evans explains why consumers are changing their attitudes towards single-use plastic in the pandemic. Hosted on Acast. See acast.com/privacy for more information.

Coronavirus has brought an end to one of the longest waves in mergers and acquisitions history, more than 100 UK company chiefs, entrepreneurs and business groups have written to Boris Johnson warning about the economic damage of a no-deal Brexit, and the FT has revealed that German payments company Wirecard relied on a small number of customers for the majority of its genuine sales according to an internal document. Plus, the FT’s Hannah Murphy looks at whether the advertising revolt against social media and hate speech policy will have a lasting effect.  Hosted on Acast. See acast.com/privacy for more information.

Wall Street investment banks brought in a record amount of fees for fundraisings in the first six months of 2020 amid coronavirus, UK prime minister Boris Johnson plans to announce £5bn of infrastructure projects today, and Gilead Sciences has said it will charge governments $2,340 for a 5-day course of its coronavirus treatment, remdesivir. Plus, the FT’s Primrose Riordan explains why investors, economists, and analysts are growing concerned over China’s national security law in Hong Kong.  Hosted on Acast. See acast.com/privacy for more information.

American shale pioneer Chesapeake Energy has filed for Chapter 11 bankruptcy, and dozens of brands are cancelling advertising on Facebook over the social media company’s handling of hate speech.  Plus, Singapore is luring hedge funds and investors away from other low tax jurisdictions with a new corporate structure. The FT’s Stefania Palma explains how the country is trying to make itself Asia’s leading financial centre. Hosted on Acast. See acast.com/privacy for more information.

Wirecard filed for insolvency on Thursday, days after the German payments group revealed a multiyear fraud that led to the arrest of its former chief executive. The FT’s Dan McCrum has been following Wirecard for the past five years and will upack the company’s current position. Plus, the Federal Reserve has capped dividends and banned share buybacks by big US banks in an attempt to strengthen the financial system in the pandemic. Hosted on Acast. See acast.com/privacy for more information.

Global markets dropped on Wednesday as rising Covid-19 cases  fuelled fears that the virus could derail an economic recovery, US airlines increased the size of their debt and equity fundraisings this week to nearly $10bn after receiving a warm welcome from investors, and Bayer will pay up to $10.9bn to settle a wave of lawsuits over the potential carcinogenic effects of its herbicide product Roundup. Plus, the FT’s currencies correspondent, Eva Szalay, explains why analysts at Bank of America say the British pound is an emerging-market currency in all but name. Hosted on Acast. See acast.com/privacy for more information.

Wirecard’s founder Markus Braun was arrested on suspicion of false accounting and market manipulation, and the Trump administration has eased Obama-era environmental rules during the pandemic. Plus, the FT’s global finance correspondent, Robin Wigglesworth, will explain why some investors say the Federal Reserve and other central banks have in practice nationalised the bond market with their coronavirus measures. Hosted on Acast. See acast.com/privacy for more information.

Donald Trump is set to extend a suspension of immigration into the US imposed in response to the coronavirus pandemic, and Apple is planning to transition away from Intel chips to an in-house design for processors. Plus, last week Wirecard warned that €1.9bn was missing from its accounts. It confirms reporting by the Financial Times, which has been investigating fraud suspicions at the German payments group. The FT’s investigations editor, Paul Murphy, will unpack the difficulties in reporting the story and the eventual downfall of the company. Hosted on Acast. See acast.com/privacy for more information.

Boris Johnson will hammer out a new plan with senior ministers this week aimed at unblocking talks on Britain’s future relationship with the EU, and the delay of oil and gas projects in Senegal signals the aftershocks from the coronavirus crisis are even hurting economies that have avoided the worst of the pandemic itself. Plus, some economists have suggested the Federal Reserve could target the black unemployment rate in its monetary policy as a means of addressing income inequality in the US. One such advocate, Janelle Jones of the Groundwork Collaborative, unpacks her proposal. Hosted on Acast. See acast.com/privacy for more information.