FT News Briefing

Joe Biden's victories in Wisconsin and Michigan significantly boost his presidential hopes, even as Trump's team launches legal challenges. Investors are recalibrating their strategies amid this political volatility. The U.S. has officially withdrawn from the Paris Climate Agreement, raising concerns about global climate efforts. Experts highlight the potential shift in climate policy with a Biden presidency, emphasizing the importance of U.S. leadership in achieving net zero emissions. The stakes couldn't be higher for both the political landscape and environmental strategies.

The ongoing uncertainty of the U.S. presidential election is causing delays in ballot counting, raising concerns over legal challenges and potential voter fraud. Business leaders are anxious about the implications for democratic stability and their operations. Meanwhile, China has taken a surprising step by suspending Ant Group's $37bn IPO due to regulatory scrutiny, which could have major repercussions for the fintech sector. The call for urgent economic stimulus adds another layer to the current business climate.

As U.S. election day unfolds, anticipation mounts over potential delays in results and the implications of voter turnout. Investors are closely monitoring Trump and Biden's policies that could reshape the market. Meanwhile, Nvidia's ambitious $40 billion deal for Arm faces hurdles due to challenges in China. Volkswagen also finds itself on the edge, nearly brushing against tough EU carbon emission limits. It's a whirlwind of politics, investment insight, and corporate hurdles all colliding.

Europe is bracing for a tough economic forecast, projecting a 2.3% contraction due to new COVID-19 lockdowns. UK business leaders are urging the government for urgent financial support amid these challenges. The aerospace industry is feeling the strain from both Brexit and the pandemic, facing unique export difficulties and regulatory hurdles. The shift from EASA to a domestic authority complicates matters further, highlighting the need for international recognition and agreements in the evolving landscape.

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.