FT News Briefing

Tech giants reported mixed earnings, with Google leading a rebound in ad sales post-pandemic. Donald Trump is leveraging strong GDP growth to bolster his re-election bid. Meanwhile, early voting has hit record highs ahead of the U.S. presidential election, raising concerns over mail-in voting and potential legal conflicts. As political tensions rise, the implications for voter turnout could be significant amid ongoing economic challenges.

Investors are on edge as Germany and France reintroduce lockdowns to combat rising COVID-19 cases, causing a slump in U.S. stock markets. There are concerns about the economic impact of these measures on both sides of the Atlantic as winter approaches. Meanwhile, China's leadership outlines ambitious long-term goals for the nation, focusing on self-sufficiency and environmental sustainability. The volatility in the stock market reflects broader uncertainties ahead of the U.S. presidential election.

Kieran Stacey, FT's Washington correspondent specializing in tech policy, dives into Apple’s ambitious plans to develop its own search technology as a challenge to Google. He discusses LVMH's negotiations over its acquisition of Tiffany, amid international legal controversies. Stacey also analyzes the upcoming Senate testimonies by tech CEOs regarding Section 230, spotlighting the heated partisan debates on social media regulation ahead of the presidential election. Misinformation in political ads remains a critical issue, complicating the social media landscape.

US stock markets faced their largest decline in a month, fueled by rising coronavirus cases threatening business activity. Meanwhile, European banks showed resilience with improved earnings, as UBS pledged to enhance payouts. Alibaba is making waves in the crowded grocery delivery sector, acquiring a significant stake in a Chinese supermarket chain. Experts discuss the competitive landscape and how technology is driving Alibaba's expansion into this essential market.

EU member states are wrestling with reluctance over recovery fund loans, fearing the weight of debt. A bright spot emerges as Oxford's vaccine trials show promising results, particularly for the elderly. Meanwhile, Brexit looms large with complications at the UK border, stirring concerns over trade regulations and paperwork. Small businesses and the agricultural sector brace for potential delays, while consumers worry about food shortages as new import checks come into play. This chaotic blend of health and economic concerns paints a vivid picture of a continent in transition.

Demetri Sevastopulo, Washington bureau chief for the Financial Times, dives into the key moments of the final face-off between Trump and Biden, shedding light on their contrasting pandemic responses and foreign policy stances. He highlights Texas's shifting political landscape as local races may redefine the national political scene for years. Additionally, the episode covers Gilead's FDA approval of remdesivir for COVID-19 treatment and Intel's significant revenue decline, illustrating the pandemic's impact on major corporations.

US intelligence officials raise alarms about Iranian and Russian efforts to sway American voters ahead of the election. Tesla celebrates its fifth consecutive quarterly profit, showcasing its financial resilience. Meanwhile, a major US pension fund halts new investments linked to Leon Black due to his controversial ties with Jeffrey Epstein. In Nigeria, tensions escalate as security forces violently suppress peaceful protests in Lagos, reflecting broader socioeconomic struggles amid rising discontent.

Snap achieves record revenues and sees a surge in advertisers, while Netflix struggles with slowing subscriber growth. The U.S. Department of Justice takes bold steps against Google over antitrust concerns, claiming it stifles competition. A comparison is drawn between Google’s tactics and historical moves by Microsoft. Additionally, the podcast discusses how tech giants are grappling with their regulatory responsibilities and the contrasting approaches taken by the U.S. and Europe in managing big tech's influence.

US stocks are on edge as a stimulus deadline approaches and COVID-19 cases rise. ConocoPhillips is making a bold move by acquiring Concho Resources for $9.7 billion, betting on a post-pandemic oil revival. Meanwhile, Chinese companies are diving headfirst into the semiconductor sector, responding to the country's heavy import reliance and U.S. tech restrictions. This shift hints at a major transformation in global tech dynamics, raising questions about the future of chip manufacturing amid intensifying competition.

Concerns grow over Europe potentially facing a double-dip recession as rising COVID-19 cases prompt new restrictions. UK Chancellor Rishi Sunak is poised to offer significant funds to resolve the impasse with Manchester leaders over lockdown measures. Meanwhile, investors are scrutinizing sterling's fluctuations as Brexit's end approaches, with discussions on its effects on markets and the FTSE 100's performance. Economic forecasts are becoming increasingly bleak as governments confront mounting budget deficits amidst these challenges.