The European Central Bank has changed its rules to accept bonds that lose their investment grade credit rating during the coronavirus crisis as collateral, oil prices rebounded on Wednesday after Donald Trump stoked Middle East tensions, and US business groups are calling on the federal government to shield companies from litigation if workers are exposed to the virus. Plus, the FT’s Moscow bureau chief, Henry Foy, explains why Vladimir Putin’s regime is leaning on tycoons to help the state in troubled times.  Hosted on Acast. See acast.com/privacy for more information.

Global oil markets remained under intense pressure on Tuesday with the price of US crude oil for June delivery nearly halving and Brent dropping below $20 per barrel for the first time in 18 years. Meanwhile, the White House and congressional leaders agreed to a new coronavirus stimulus package which includes funds to replenish the small business rescue fund, and Netflix has emerged as one of the few corporate winners of the pandemic after adding more than twice as many subscribers as it had forecast last quarter. Plus, the FT’s industry editor, Peggy Hollinger, explains how the aerospace industry is being forced to adapt to a dramatic decline in air travel due to coronavirus. Hosted on Acast. See acast.com/privacy for more information.

Yesterday, US oil prices crashed into negative territory for the first time in history. The FT’s US energy editor, Derek Brower, explains why and what is next for producers. Then, the FT’s natural resources editor, Neil Hume, explains how Singapore oil trader Hin Leong Trading suffered $800m in losses that were not reflected in its financial statements. Plus, the Trump administration is facing backlash over the terms of its small business loan programme, and more than 1m people were enrolled in the UK’s flagship staff furlough scheme during its first day in operation.  Hosted on Acast. See acast.com/privacy for more information.

The Trump administration is closing in on a deal with Congress to provide another $300bn to coronavirus-hit small businesses. Then, the FT’s US economics editor, Brendan Greeley, explains how state budgets are coping without their normal tax revenue. Plus, the European Central Bank has held high-level talks about creating a eurozone bad bank for non-performing loans, and investors have pushed back on pleas by the G20 group of big economies to allow emerging markets to pause their debt repayments. Hosted on Acast. See acast.com/privacy for more information.

President Donald Trump backed away from threats to force a quick reopening of the US economy by unveiling guidelines for states, and US stock market futures rose 3 per cent late on Thursday after a report suggested a Gilead coronavirus drug had shown positive results in a clinical trial. Then, in an interview with the FT, French president Emmanuel Macron warned of the collapse of the EU as a “political project” unless richer states help economies such as Italy recover from the coronavirus pandemic. Plus, the FT’s Middle East editor, Andrew England, explains how Gulf sovereign wealth funds are mobilising to buy assets whose valuations have been hit hard by the outbreak.  Hosted on Acast. See acast.com/privacy for more information.

The coronavirus crisis is propelling Eurozone government debt towards 100 per cent of gross domestic product, three major US banks reported a total $12.8bn of charges in the first quarter for loan losses and warned there could be more to come, and data from all corners of the US economy published on Wednesday suggest the hit from coronavirus lockdowns has been deeper than feared. Plus, the FT’s Hudson Lockett explains why China’s central bank cut one of its most important lending rates to a record low. Hosted on Acast. See acast.com/privacy for more information.

The US Treasury Department has reached an agreement with US airlines that paves the way for a $25bn bailout for the industry. Plus, JPMorgan Chase and Wells Fargo increased loan-loss provisions by $10bn from last year to prepare for the impact of the pandemic. Then, the IMF said on Tuesday that the coronavirus crisis will leave lasting scars on the global economy. The FT’s economics editor, Chris Giles, explains how the damage could continue long after lockdowns are lifted. Hosted on Acast. See acast.com/privacy for more information.

New figures show that venture capital funding in China rebounded in March after the country’s coronavirus outbreak, and Amazon has announced plans to hire 75,000 extra workers after hiring 100,000 new staff to handle coronavirus-induced demand. Plus, Anjli Raval explains why oil traders have doubts about the US-backed Opec deal to cut supply, and Rana Forhoohar argues that WeWork’s struggles illustrate what is to come in real estate markets in a post-coronavirus world. You can find Rana’s columns at FT.com/rana-foroohar Hosted on Acast. See acast.com/privacy for more information.

The coronavirus’ place of origin, Wuhan, has emerged from the world’s largest mass quarantine. Meanwhile, Japan is gambling that it can control the spread of coronavirus without a full lockdown. The FT’s correspondents on the ground in China and Japan, Don Weinland and Robin Harding, look at the differing stages these two places are at when it comes to the pandemic and the road ahead. Hosted on Acast. See acast.com/privacy for more information.

Wall Street banks are warning investors to brace for a new wave of stock market declines despite the recent relief rally, and eurozone finance ministers will reconvene today to work toward a deal on emergency lending to tackle the Covid-19 outbreak. The FT’s Mehreen Khan will explain the dispute between the Netherlands and Italy over the terms. Plus, Stefania Palma in Singapore explains how the country is handling its third wave of coronavirus infections. Hosted on Acast. See acast.com/privacy for more information.