FT News Briefing

Joe Biden has made history by selecting Kamala Harris as his vice-presidential candidate, aiming to attract diverse voter demographics. Meanwhile, a Kodak board member's $116 million donation raises eyebrows amid a stock collapse. In another twist, McDonald's takes legal action against its former CEO over serious allegations. Additionally, Russia leads the charge with its controversial Covid-19 vaccine, stirring debates over its safety and the motivations behind its expedited rollout.

A California judge has ruled that Uber and Lyft must classify their drivers as employees, stirring debates about workers' rights in the gig economy. Goldman Sachs faces regulatory challenges as the Fed denies its request for leniency following a stressful annual review. Meanwhile, insights reveal Sweden's unique pandemic strategy, which prioritizes keeping businesses open while sparking debate over its economic and public health outcomes. The discussion challenges perceptions of labelling Sweden's approach to coronavirus as too simplistic.

The podcast dives into the recent boom in M&A activity, highlighting major deals that have reshaped the corporate landscape. It also discusses the urgent €250m aid package for Beirut following a devastating explosion, showcasing international solidarity amid local unrest. Additionally, Nike faces internal challenges as employees demand accountability regarding the company's inclusivity efforts before promoting social ideals, raising questions about the authenticity of its brand messaging in today's climate.

Uber's food delivery surge couldn't make up for the massive decline in ride-sharing, revealing shifts in consumer behavior. Quicken Loans celebrated a triumphant IPO, enjoying a significant stock spike amid a booming refinancing market. The effectiveness of the Paycheck Protection Program is under scrutiny, raising questions about job preservation. Meanwhile, Microsoft's quest for TikTok is complicated by geopolitics, as its longstanding experience in China could play a crucial role in the negotiations.

U.S. lawmakers are investigating a controversial $765 million government loan to Kodak, raising questions about market manipulation. Kodak's stock surged as it pivoted to pharmaceuticals, while Zynga and Etsy reported strong earnings thanks to pandemic-driven habits. The political landscape is heating up, with Biden's campaign ramping up TV ad spending to outpace Trump. Insights into voter sentiment and key swing states reveal how the upcoming election may serve as a referendum on the current administration's handling of the pandemic.

The aftermath of a devastating explosion in Beirut leaves dozens dead and thousands injured. Disney faces financial struggles as park income plummets amidst the pandemic. Meanwhile, a surge in gold prices sees an ETF amassing more gold than some entire nations. Lastly, General Electric is in hot water with the UK's tax authority over serious fraud allegations, potentially impacting their financial future.

President Trump surprises everyone by reversing his stance on Microsoft's TikTok bid. Meanwhile, candidates for the World Trade Organization argue the U.S. criticisms of global trade law are quite valid. In North Korea, foreign aid groups fight COVID-19 by surprisingly borrowing funds from the government. The podcast delves into how major oil companies are adapting to pandemic pressures, highlighting the contrasting approaches of European firms embracing cleaner energy while U.S. companies remain loyal to fossil fuels.

The U.S. government is ramping up efforts against Chinese tech firms, with TikTok in the spotlight over security concerns. William Spriggs discusses how the pandemic is reshaping the labor market, highlighting shifting corporate priorities that often overlook workers. The podcast also delves into the transitions from a shareholder-focused economy to a more stakeholder-driven approach, emphasizing the impacts of digital transformation on future competitiveness. Tensions continue to rise, revealing deeper issues in U.S.-China tech relations.

Major US tech companies like Facebook, Amazon, and Apple are raking in impressive revenues, even as the economy faces its sharpest contraction since World War II. There's a fascinating discussion about how these tech giants defend their market dominance in light of ongoing congressional hearings. Meanwhile, corporate America continues to cling to share buybacks, raising questions about their sustainability amidst rising unemployment and declining GDP. This juxtaposition between tech growth and broader economic struggles provides a thought-provoking perspective on the current market landscape.

American lawmakers confront tech giants over allegations of unfair competition, raising crucial questions about Big Tech's power. Qualcomm's stock hits a high after securing a deal with Huawei, fueling excitement in the chip market. Meanwhile, the Federal Reserve warns of a potential dollar shortage, impacting global economics. Insights reveal how Goldman Sachs navigated the tumultuous 1MDB scandal with minimal repercussions. This engaging discussion uncovers the intersection of technology, finance, and regulatory scrutiny.