FT News Briefing

Donald Trump and Melania's Covid-19 diagnosis raises questions just weeks before the election, triggering market reactions. A 2.7% drop in US personal income reveals the struggles of Americans amidst stalled stimulus talks. Meanwhile, the EU is taking legal steps against the UK over Brexit disputes. The significance of Ohio comes to the forefront, as it may dictate the election outcome, with political shifts among working-class voters making it a key battleground.

Moderna's CEO reveals that a COVID-19 vaccine won't be ready before the US election, raising questions about public health timing. Meanwhile, Japan is tackling digital transformation as it modernizes its economy and telecom sector. On another front, the rising interest in gold among western investors is highlighted, driven by economic uncertainty and low bond yields, making it a sought-after asset. The podcast also delves into the changing dynamics of gold demand in traditional markets post-pandemic, especially in India and China.

The U.S. presidential debate went off the rails with heated clashes between Joe Biden and Donald Trump, impacting undecided voters. A major spotlight also shines on JPMorgan Chase, which faces a historic $920 million settlement for spoofing in market manipulation. Meanwhile, scrutiny deepens on EY for its delayed response to warnings about Wirecard's fraud, with a whistleblower alerting them as far back as 2016. These issues reveal significant upheaval in both politics and finance.

European stocks surge as investors rush into recovering sectors. Donald Trump faces serious claims of tax dodging and voter suppression just before a critical debate. The discussion dives into why traditional investment strategies, like the 60/40 portfolio, may need a major rethink in our evolving economy. Amid inflation worries, investors grapple with shifting market dynamics, especially in tech and private equity opportunities.

Argentina's dollar bonds are in trouble again, only weeks after a restructuring deal. Meanwhile, Swiss voters have turned down a nationalist plan to limit immigration, maintaining their ties with Brussels. The discussion also dives into Scotland's renewed quest for independence, fueled by Brexit dynamics and public dissatisfaction with the UK government. With support growing for independence, the upcoming Scottish Parliament elections could be pivotal for shaping future governance and referendum prospects.

Dimitri Sevastopoulos, FT’s DC bureau chief, dives into the high-stakes world of US politics. He unpacks the implications of Donald Trump's upcoming Supreme Court nominee and the potential impact on key issues like abortion and gun rights. The discussion also addresses Trump's troubling reluctance to commit to a peaceful transition of power, stirring concerns about election integrity. Lastly, the anticipation builds around the first presidential debate as contrasting styles between Trump and Biden are highlighted, setting the stage for a contentious showdown.

Brussels is intensifying its efforts to eliminate sweetheart tax deals for corporations in the EU. TikTok battles to avoid a download ban in the U.S., navigating complex ownership disputes involving major American corporations. Meanwhile, the pandemic has significantly slashed global worker incomes by over $3.5 trillion. In Turkey, despite massive government spending, the lira is struggling as the country faces a tricky balance between economic growth and currency stability.

A recent agreement between major advertisers and social media platforms aims to combat harmful content. The pandemic is projected to wipe out at least 100 million jobs globally this year. The Bank of England has ruled out negative interest rates for now, signaling cautious economic policy. Meanwhile, the EU is actively working to establish financial independence post-Brexit, with plans to enhance its market and challenge London's status as a financial hub.

Global stock markets took a nosedive due to worries about new Covid-19 lockdowns. LVMH is facing a legal showdown over its attempt to back out of the Tiffany deal, which could significantly impact the luxury market. Meanwhile, Tesla is gearing up for its shareholder meeting, highlighting its profit streak and ambitious plans in the competitive automotive sector. The discussion also touches on economic recovery in a pandemic era and the broader implications for electric energy solutions.

As winter approaches, the UK is poised to extend its business support loans to combat the rising tide of COVID-19. The European Central Bank is undertaking a major review of its pandemic crisis tool. Meanwhile, Donald Trump unveils plans for a 'patriotic' education fund linked to the Oracle-ByteDance partnership. Plus, insights into how the poisoning of Alexei Navalny could impact the controversial Nord Stream 2 pipeline stir up energy politics in Europe.