Your daily news briefing

‘Anna Karenina principle’ suggests every unhappy economy is unhappy in its own way

The ESG spotlight has turned to how companies treat their employees, customers and suppliers

Efforts to improve diversity and inclusion must not be sidelined as companies rebuild

‘There is hardly a place on earth less suited to the age of social distancing’

As relations deteriorate over the coronavirus, Washington considers curbing supply chains and investment flows

Brussels sets out tariffs proposals aimed at reducing risk of smuggling into bloc

The US president holds ownership interests in golf resorts in Scotland and Ireland

Tomi Kovanen argues that investors and pundits should temper their expectations for the industry in the short term, but increase them for the long term.

Chamonix’s cable car back in business after two months, albeit with strict social-distancing measures

The high-street fashion empire of Philip Green is on the rocks. The UK retail tycoon has secured creditor support for a complex three-year overhaul that will involve rent reductions, store closures and a halving of the company’s pension deficit reduction payments. But will this be enough to save the business? Matthew Vincent discusses this question with Jonathan Ford and Jonathan Eley.

Contributors: Suzanne Blumsom, executive editor, Matthew Vincent, Lombard editor, Jonathan Ford, City editor, and Jonathan Eley, retail correspondent. Producer: Fiona Symon

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ECB chief Mario Draghi this week surprised the markets by suggesting that the European central bank could introduce more stimulus to support the global economy. His signal, at an ECB forum in Sintra, Portugal, caused a furious reaction from Donald Trump. Katie Martin discusses the US president’s intervention and the remarks that prompted this with Claire Jones and Chris Giles.

Contributors: Josh Noble, weekend news editor, Katie Martin, capital markets editor, Claire Jones, Frankfurt bureau chief and Chris Giles, economics editor. Producer: Fiona Symon

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Concerns about maritime security in the Gulf are rising as relations between Iran and the west deteriorate over the slow breakdown of the nuclear deal struck by Tehran and world powers in 2015. Iran’s economy has been badly hit by the re-imposition of US sanctions, and in response, Iran says it is no longer sticking to agreed limits on its enriched uranium stockpile. Tom O’Sullivan discusses whether the deal can be saved with Michael Peel in Brussels, Najmeh Bozorgmehr in Tehran and Middle East editor Andrew England.

Contributors: Suzanne Blumsom, executive editor, Tom O’Sullivan, deputy analysis editor, Michael Peel, European diplomatic correspondent, Najmeh Bozorgmehr, Tehran correspondent, and Andrew England, Middle East editor. Producer: Fiona Symon

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The disputed Himalayan state of Jammu and Kashmir is in lockdown after India revoked its special status following a long running insurgency that led to thousands of deaths. Jyotsna Singh discusses what India plans to do next, and how neighbouring Pakistan, which also claims the territory, has reacted, with Amy Kazmin the FT's South Asia bureau chief.

Contributors: Jyotsna Singh, Delhi reporter, and Amy Kazmin, South Asia bureau chief. Producers: Jyotsna Singh and Fiona Symon

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Many of us own a keyboard, which sounds more or less like a piano, but is not quite the same. Thomas Hale, Alphaville reporter, thought he’d like to buy the real thing, so he went looking in London. He tells James Pickford what he found. Read Thomas's article here

Contributors: James Pickford, deputy editor of FT Money, and Thomas Hale, Alphaville reporter. Producer: Fiona Symon.

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In 2013, Edward Snowden was responsible for one of the biggest US intelligence leaks ever. He’s just published a memoir offering his version of the events. Janine Gibson was the Guardian’s US editor at the time and oversaw publication of the story. She shares her impressions of book and what it says about the man and his motives with Frederick Studemann, FT literary editor.

Read Janine's story here

Contributors: Janine Gibson, special projects editor, and Frederick Studemann, literary editor. Producer: Fiona Symon

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A devastating missile and drone attack on Saudi oil installations last week highlighted the vulnerability of global oil supplies to the threat of regional unrest. The attack was claimed by Houthi rebels fighting Saudi-backed forces in neighbouring Yemen, but Saudi and US officials were quick to point the finger of blame at Iran. Geoff Dyer discusses the repercussions of the attack for the region and the oil market with Andrew England, Middle East editor, and Anjli Raval, senior energy correspondent.

Contributors: Geoff Dyer, analysis editor, Andrew England, Middle East editor, and Anjli Raval, senior energy correspondent. Producer: Fiona Symon

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Many US Democrats had pushed for an impeachment inquiry against Donald Trump after the Mueller probe into Russian meddling in the last US election released its findings. But it took a July telephone conversation between Mr Trump and Ukraine’s new president to persuade Nancy Pelosi, speaker of the US house of Representatives, that it was time to act. Katie Martin discusses what happens next and what we know so far with Demetri Sevastopulo, Washington bureau chief.

Contributors: Katie Martin, capital markets editor, and Demetri Sevastopulo, Washington bureau chief. Producer: Fiona Symon

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Ukraine has found itself at the centre of the US impeachment inquiry, just as new president Volodymyr Zelensky set out to fulfill his election promise to end corruption. Pilita Clark asks Ben Hall, the FT's Europe editor, what it is about Ukraine creates so much trouble in far flung places and whether it could end up harming Donald Trump's chances of re-election.

Contributors: Pilita Clark, business columnist, and Ben Hall, Europe editor. Producer: Fiona Symon

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India has gone from being known as the world’s fastest growing large-economy to a country in the midst of a sharp economic slowdown. Jyotsna Singh discusses what’s gone wrong and what can be done to revive growth with Amy Kazmin, the FT’s South Asia bureau chief.

Contributors: Jyotsna Singh, Delhi reporter, and Amy Kazmin, South Asia bureau chief. Producers: Jyotsna Singh and Fiona Symon

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Iranian military leader and commander of the Quds Forces, Qassem Soleimani, was killed on the 3rd of January in a targeted US air strike at Baghdad airport, Iraq. What did Soleimani mean to Iranians and why did the US order the airstrike that killed him? Najmeh Bozorgmehr discusses the story with Andrew England.

Contributors: Andrew England, Middle East editor and Najmeh Bozorgmehr, Tehran correspondent. Producer: Persis Love

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The full impact of the deadly Sars-like virus that has spread across China will take time to assess. But it’s clear there will be significant damage to the region’s economies and perhaps also to the reputation of China’s leaders for failing to tackle the coronavirus early enough to prevent its spread. Andreas Paleit discusses the political and economic impact of the outbreak with Tom Hancock, recently back from Wuhan, James Kynge in Hong Kong and Sue-Lin Wong in Shenzhen.

Contributors: Andreas Paleit, companies desk editor, Tom Hancock, China consumer industries correspondent, Sue-Lin Wong, South China correspondent, and James Kynge, global China editor. Producers: Fiona Symon and Persis Love.

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Victory for Iran's hardliners in this month’s parliamentary elections has come at the cost of a despondent population suffering under the weight of renewed US sanctions. With the future of the nuclear deal in doubt and isolationist leaders in the ascendant, Andrew England, Middle East editor, and Najmeh Bozorgmehr, Tehran correspondent, discuss what happens next.

Contributors: Andrew England, Middle East editor, and Najmeh Bozorgmehr, Tehran correspondent. Producers: Fiona Symon and Mehrnosh Khalaj.

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As the coronavirus continues to spread, what is the risk that this will push the global economy into recession and what can central bankers and policymakers do to help avoid this? Katie Martin discusses the economic shock caused by the virus with the FT's economics editor Chris Giles.

Contributors: Katie Martin, capital markets editor, and Chris Giles, economics editor. Producers: Fiona Symon and Andrew Georgiades

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Introducing the FT News Briefing. It is a rundown of the global business stories you need to know for the coming day, from the newsroom of the Financial Times. If you enjoy it, subscribe to the FT News Briefing wherever you get your podcasts, or listen at FT.com/newsbriefing.

Monday, March 16

The Federal Reserve cut interest rates to zero and joined forces with other central banks in a bid to prevent a severe economic downturn caused by the coronavirus outbreak. The FT’s Gillian Tett unpacks the sweeping measures. Plus, the rapid spread of the coronavirus and the ensuing travel restrictions have led to one of the worst months on record for the airport industry, and French industrials group Air Liquide is asking would-be buyers of its hand sanitiser unit to offer a higher sum in the wake of the outbreak. 

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Analysts fear government’s timid fiscal response will prolong the pain

Jeanine Añez settles in for long haul as pandemic adds to political uncertainty

Stimulant given as ‘likely’ reason for lower infections but authorities stress health risks

US regulator cautions against using chloroquine outside of hospitals or clinical trials

US-run trial of Gilead coronavirus therapy demonstrates ‘significant positive effect’

Gilead’s potential coronavirus treatment stirs investor hopes but evidence on effectiveness is mixed

Partnership that would prioritise UK could produce 100m doses by year-end if treatment is effective

Research paper published in journal Nature identifies number of alternative treatments

First country to get a vaccine could have an economic as well as a health advantage

Biotech group’s shares have soared this year on hopes drug could be used to treat coronavirus

US-led trial shows positive results in hastening recovery time for coronavirus patients

Industry highlights bottlenecks in access to materials that are a possible Covid-19 treatment

As researchers race to develop a coronavirus vaccine, we look at efforts to ensure that the world’s poor are not left behind — and ask whether the pandemic will jolt policymakers into confronting the looming threat from antimicrobial resistance

The world needs to act now to avert the threat from antimicrobial resistance

The wide variety of Covid-19 symptoms seen by doctors is confounding the scientific community

California utility discloses $5bn pre-tax charge tied to claims

Demand for classically defensive stocks rises as viral outbreak worsens

One of the first large acquisitions to be agreed since coronavirus pandemic rocked global markets

If lenders maintain support, the company’s balance sheet may not need an urgent fix

Investors demanded too high a price to lend to US carrier reeling from coronavirus shutdown

The FT analyses the scale of outbreaks and the number of deaths around the world

Eighth consecutive cut could heap fresh pressure on already struggling lira

When a chart can speak 1000 words. Not all of them entirely sincere.

Mike Mackenzie’s daily analysis of what’s moving global markets