Canadian prime minister Justin Trudeau apologises for wearing brownface makeup at a private school party after Time magazine published a yearbook photo from 2001, Cisco chief executive Chuck Robbins dismisses fears of a breakdown in global supply chains, saying he expects Washington and Beijing to reach a deal ending their trade war, KPMG UK plans to cut hundreds of staff in a wave of cost-cutting, and shares in FedEx tumbled on Wednesday, a day after the company reported its weakest sales growth in a decade. Plus, the Federal Reserve cut US interest rates by a quarter point on Wednesday. Our US economics editor, Brendan Greeley, unpacks the move. Hosted on Acast. See acast.com/privacy for more information.

The Federal Reserve Bank of New York announces plans to inject another $75bn into the US financial system to alleviate funding pressures in short-term lending markets, researchers find that smart TVs are leaking sensitive user data to companies including Netflix and Google and Israeli prime minister Benjamin Netanyahu fails to clinch an outright majority for his Likud party in Tuesday’s general election. Plus, the FT’s chief economics commentator, Martin Wolf, says economies are not delivering for most citizens. He tells us what corporations can do to fix the damage. FT.com is free to read today for #FTOpenDay. You can read all of the stories linked below without hitting the paywall. Take a look at the stories we covered in today’s briefing: Fed plans second intervention to ease funding squeezehttps://www.ft.com/content/2c11a972-d941-11e9-8f9b-77216ebe1f17Benjamin Netanyahu left vulnerable by inconclusive Israel electionhttps://www.ft.com/content/828ac962-d984-11e9-8f9b-77216ebe1f17Smart TVs sending sensitive data to Netflix and Facebookhttp://ft.com/content/23ab2f68-d957-11e9-8f9b-77216ebe1f17Martin Wolf: why rentier capitalism is damaging liberal democracyhttps://www.ft.com/content/5a8ab27e-d470-11e9-8367-807ebd53ab77Marc's suggested reads: WeWork’s Adam Neumann admits to being ‘humbled’ https://www.ft.com/content/7d543f5a-d94d-11e9-8f9b-77216ebe1f17 My daughter, the footballer: sexism and the beautiful gamehttps://www.ft.com/content/16f35962-e288-11e6-9645-c9357a75844aGlobal cities begin to shrink as inner areas empty outhttps://www.ft.com/content/c88b4c54-b925-11e9-96bd-8e884d3ea203Russia’s role in producing the taxman of the futurehttps://www.ft.com/content/38967766-aec8-11e9-8030-530adfa879c2 Hosted on Acast. See acast.com/privacy for more information.

WeWork postponed its initial public offering on Monday night after struggling to drum up investor interest, US president Donald Trump says he has struck an “initial” deal on tariff barriers with Japan, EU chiefs say that UK prime minister Boris Johnson brought no fresh proposals to the table during Monday’s Brexit talks in Luxembourg and billionaire philanthropist Bill Gates says the world is “nowhere near” hitting the United Nations’ Sustainable Development Goals. Plus, the FT’s Peter Wells explains how the attack on Saudi Arabia’s major crude processing plant over the weekend will have an effect on the global economy. Hosted on Acast. See acast.com/privacy for more information.

Saudi Arabia faces weeks without full crude production capacity after an attack on the world’s most important oil facility, China’s formerly acquisitive companies have become net sellers of global assets this year for the first time in a decade, thousands of General Motors workers are set to strike after talks broke down over pay and healthcare benefits at the company’s US factories and Brexit secretary Steve Barclay said that Britain could stay in a standstill transition deal with the EU until the end of 2022. Plus, the FT’s Mehul Srivastava tells us what is at stake Israel’s second election of the year. Hosted on Acast. See acast.com/privacy for more information.

WeWork’s executives, investors and advisers are discussing curbing the voting power of co-founder Adam Neumann, Speaker of the UK House of Commons John Bercow warns prime minister Boris Johnson that he will allow parliament to do whatever it takes to avoid a no-deal Brexit, British Airways cancels flights on September 27 because of a planned pilot strike, dentistry company SmileDirectClub sees price shares tumble in its public market debut and Hong Kong Exchanges and Clearing is prepared to sweeten the terms of its £32bn offer for the London Stock Exchange Group. Plus, the FT’s Frankfurt editor Martin Arnold explains how the European Central Bank’s historic package of rate cuts and economic stimulus will affect the eurozone economy. Hosted on Acast. See acast.com/privacy for more information.

Purdue Pharma and its controlling Sackler family members strike a preliminary deal with several US states and local governments to resolve legal claims stemming from the opioid crisis, the FT reports that the Pentagon is compiling a list of companies with ties to the Chinese military and the UK government releases the controversial “Operation Yellowhammer” document that outlines the potential damage from a no-deal Brexit. Plus, the FT’s Philip Stafford explains why investors have given a cold shoulder to Hong Kong Exchanges and Clearing's £32bn bid for the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.

Apple unveils the iPhone 11 and undercuts streaming rivals Netflix and Disney with a $4.99-a-month price tag for its TV+ service, and Uber cuts more than 400 engineering and product jobs in the second round of lay-offs since its May stock market listing. Plus, exercise start-up Peloton is eyeing a valuation of up to $8.2bn in its initial public offering and Margrethe Vestager holds on to a beefed-up competition role in the new European Commission. Also, the FT’s US managing editor, Peter Spiegel, unpacks the firing of US national security adviser John Bolton. Hosted on Acast. See acast.com/privacy for more information.

Softbank, the biggest outside shareholder in WeWork, is urging the lossmaking property group to shelve its hotly anticipated initial public offering, attorneys-general from 50 US states and territories launch an investigation into Google’s dominance in online search and advertising and UK prime minister Boris Johnson loses a second attempt to hold a snap election to break Britain’s Brexit impasse. Plus, the FT’s Nicholas Megaw explains how the mis-selling of payment protection insurance caused a £50bn British banking scandal. Hosted on Acast. See acast.com/privacy for more information.

A study found that nearly 40 per cent of worldwide foreign direct investment is used as a vehicle for financial engineering to minimise companies’ tax liabilities, and British Airways cancelled about 50 mostly UK-bound flights on Sunday as the airline braces for a two-day pilot strike. Plus, exports from China fell in August as the country’s trade dispute with the US took a heavier than expected toll on the manufacturing sector and Saudi Arabia has removed energy minister Khalid al-Falih, one of the most powerful figures in the global oil industry. Also, the FT’s Jim Pickard previews the week ahead in UK politics and what it could mean for Brexit.  Hosted on Acast. See acast.com/privacy for more information.

UK Labour MPs appear set to reject Boris Johnson’s push for a snap election and US Treasury secretary Steven Mnuchin moves to return Fannie Mae and Freddie Mac to private ownership. Plus, WeWork expects to be valued at less than half of the $47bn figure reached in its last round of funding from Japan’s SoftBank and news that the US and China will resume trade negotiations sent Wall Street equities higher on Thursday. Also, the FT’s Shanghai correspondent, Tom Hancock, explains why China’s tech groups, including Alibaba, have poured money into physical retail and how that bet worked out for them.   Hosted on Acast. See acast.com/privacy for more information.