FT News Briefing

The UK seeks greater control over the review of the £31bn Virgin Media and O2 merger, raising eyebrows in Brussels. Meanwhile, online shopping surges, with US consumers projected to spend $710bn this year. On the employment front, American Airlines faces a surplus of over 20,000 front-line staff, while disparities in job losses affecting Black Americans remain alarming. Economist Valerie Wilson discusses the disproportionate impact of COVID-19 on Black workers and suggests necessary policy measures for recovery.

US health experts raise alarms about COVID-19 risks during Independence Day celebrations. The EU is scrutinizing Google's $2.1 billion acquisition of Fitbit, weighing its implications. A discussion on the effects of China's national security law reveals its impact on civil liberties in Hong Kong. The pandemic has led to a surge in single-use plastic, raising concerns about plastic pollution and consumer attitudes towards sustainability. Experts explore the environmental consequences of increased plastic usage and changing corporate practices in response.

The podcast reveals a significant decline in global mergers and acquisitions, with financial uncertainty forcing companies to focus on stability. UK business leaders express serious concerns over stalled Brexit trade talks, warning of economic ramifications. Meanwhile, the Wirecard scandal unveils shocking truths about the company's reliance on just a few customers and missing funds. Additionally, there’s a discussion on the widespread advertising boycott against social media platforms, questioning their policies on hate speech and data transparency.

Wall Street banks have thrived during the pandemic, raking in record fees through emergency fundraising. Meanwhile, UK Prime Minister Boris Johnson plans significant infrastructure investments reminiscent of FDR's New Deal. The cost of Gilead's remdesivir treatment raises eyebrows, priced at $2,340 for a five-day course. Additionally, there are rising concerns about China's national security law, which may threaten Hong Kong's financial transparency and its status as a crucial capital-raising hub for Chinese companies amid geopolitical tensions.

Chesapeake Energy files for Chapter 11 bankruptcy, marking a downturn for this key player in the shale industry. Meanwhile, a growing boycott by brands against Facebook highlights escalating concerns over hate speech. In a bid to become Asia's financial hub, Singapore introduces a new corporate structure to attract hedge funds and investors, challenging other low-tax regions. The conversation dives into the implications of these developments for the financial landscape.

Wirecard's shocking insolvency exposes a massive fraud, leaving nearly 2 billion euros missing and prompting a high-profile arrest. Investigations into the German financial oversight reveal significant lapses in regulation. Meanwhile, the Federal Reserve takes action to strengthen U.S. banks amid the pandemic by capping dividends and banning buybacks, reflecting growing concerns about financial stability. The implications of these events unfold against the backdrop of economic uncertainty.

Rising Covid-19 cases in the U.S. are causing concern for global markets, threatening economic recovery. Airlines are responding with nearly $10 billion in debt and equity fundraising to sustain operations. Bayer is set to pay $10.9 billion to settle lawsuits over the controversial Roundup herbicide. Additionally, analysts compare the British pound's volatility to that of emerging-market currencies, complicating confidence in its future amidst ongoing Brexit challenges.

Wirecard's scandal intensifies with the arrest of its CEO over false accounting. Allegations surrounding a missing 2 billion euros raise serious questions about corporate governance. Meanwhile, the Trump administration's rollback of environmental regulations aims to stimulate the economy post-pandemic. Experts discuss how central banks have effectively nationalized the bond market, impacting investor strategies as they navigate a complex financial landscape. The podcast delves into these pressing topics shaping the future of global finance.

Donald Trump's immigration restrictions are set to expand, affecting US job markets amid the pandemic. Apple is pivoting away from Intel, opting for in-house chip designs, a move that could reshape the tech landscape. Meanwhile, the Wirecard scandal unfolds, revealing €1.9bn missing from accounts and raising serious questions about corporate governance. The investigative challenges faced by journalists highlight the urgent need for regulatory reform in the fintech sector.

Amidst ongoing Brexit negotiations, there's a newfound optimism for a successful UK-EU relationship. Meanwhile, Senegal's oil and gas projects face setbacks due to the pandemic's lingering effects, demonstrating its far-reaching impact. A thought-provoking proposal suggests that the Federal Reserve consider targeting Black unemployment rates to combat systemic inequality in the U.S. An expert unpacks how addressing this issue could intertwine monetary policy with racial equity, revealing significant disparities in economic indicators for Black workers.