Join our campaign for clear pension charges - FT Money has been exploring the impossibility of comparing the costs of drawdown plans. The FT is calling on the pensions and advise industry to be transparent about charges to help people to shop around. In this week's show, FT Money Show presenter Claer Barrett interviews o the FT's pensions expert about our campaign. Next up, the spread of the coronavirus has given world stock markets a nasty turn - FT Moneys' new investment reporter, Madison Darbyshire, talks about how investors are reacting. And finally, to cheer listeners up a bit - James Max, our Rich People's Problems columnist is here to discuss a burning issue - the government's proposed ban on coal fires. 

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It's been a week of shock and awe for UK investors. Wednesday started with an emergency interest rate cut from the BoE. New chancellor Rishi Sunak then delivered a Budget full of emergency "first aid" measures to help workers, the self employed and small businesses survive the crisis - and some very unexpected news for wealthy pension savers. And in the meantime - stock markets around the world continue to experience deep falls as central banks work out how to respond to the coronavirus.

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Global property portals report big increases in Chinese inquiries

The FT News Briefing 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.

Tuesday, March 17

Governments in all large western economies took drastic measures to limit public movement on Monday in an urgent effort to arrest the spreading coronavirus pandemic while US stocks plunged despite a set of emergency measures laid out by the Federal Reserve on Sunday. Plus, an analysis by the Financial Times finds that the UK and the US have key weaknesses in their healthcare systems which could trigger a collapse if put to the test by the outbreak. 

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Investors are looking to the future, but should beware of over-optimism

US Treasury secretary floats idea of shorter trading hours as staffing hit by virus

Country becomes first in world to halt all stock, bond and currency trading

Central banks repeatedly set the stage for the next boom and bust cycle, fuelled by growing debt

Sensible and targeted state intervention can help capitalism to thrive post-crisis

‘We are ready to go further,’ says French minister after issuing temporary prohibitions

Every major asset class has been disrupted

AMF chairman cites uncertainty around dividends and coming downgrades to credit ratings

Volatility gauges for both regions show sharp falls from historic highs in March

Spanish and Italian bans on short selling follow US Federal Reserve’s liquidity injection

AskRobin, an Estonia-founded fintech that operates a financial services marketplace for “underbanked” customers in Latin America, has picked up $1.7 million in funding. The seed round is backed by VC funds Change Ventures, Vereeni Early Stage Fund, BENE Asia Capital, and Lemonade Stand. In addition, a number of tech entrepreneurs from Estonia participated, such as […]

Suppliers that exploited cheaper labour hit by big wage bills for shuttered plants

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Events in January contributed to ongoing uncertainty in crude oil markets, according to the U.S. Energy Information Administration. On January 6, Brent crude oil prices closed at $70 per barrel following U.S. military operations in Iraq, the highest price since May 2019. However, as tensions in the Middle East de-escalated and market concerns over a related oil supply disruption faded, crude oil prices fell. The outbreak of the coronavirus and subsequent travel bans significantly disrupted transportation-related oil demand in China as well as other countries. This accelerated the decline in crude oil prices, despite ongoing crude oil supply disruptions in Libya. Prices closed at $54 per barrel on February 4, the lowest level since December 2018. In the February Short-Term Energy Outlook, EIA estimates the Brent crude oil price will average $58 per barrel during the first half of the year and rise to $64 per barrel during the second half of the year. Brent crude oil spot prices are expected to average $61 per barrel for 2020 as a whole.

AskRobin, an Estonia-founded fintech that operates a financial services marketplace for “underbanked” customers in Latin America, has picked up $1.7 million in funding. The seed round is backed by VC funds Change Ventures, Vereeni Early Stage Fund, BENE Asia Capital, and Lemonade Stand. In addition, a number of tech entrepreneurs from Estonia participated, such as […]

Uber Eats is pulling out of a clutch of markets — shuttering its on-demand food offering in the Czech Republic, Egypt, Honduras, Romania, Saudi Arabia, Uruguay and Ukraine. It’s also transferring its Uber Eats business operations in the United Arab Emirates (UAE) to Careem, its wholly owned ride-hailing subsidiary that’s mostly focused on the Middle […]

Median house values in the country's capital cites are set to increase during 2020, according to property research firm BIS Oxford Economics in a report released Monday.

German retailer Lidl led the way for festive profits, with year-on-year sales growth of 10.3 per cent, while Aldi's sales went up by 5.9 per cent over the Christmas period.

Tesco, Britain's biggest retailer, has prevented competitors from opening supermarkets in 23 locations in the UK, the Competition and Markets Authority watchdog said.

Shortages previously limited to anti-bacterial hand gel and hand soap have spread to cupboard items such as rice, pasta, couscous, Pot Noodles, bottled water, toilet roll and pet food.

One disgusted customer at the Sainsbury's store in Mansfield, photographed the display containing toilet rolls, crisps, water, and pasta as well as 'mega packs' of detergents and disinfectant.

Retail expert Bruno Monteyne said a major UK outbreak of the virus would result in 'panic buying, empty shelves and food riots' but that at this stage retailers would revert to 'feed the nation' status.

Staggering scenes saw a queue of hundreds of people snake round a Tesco car park at 6am, and even spill out on to the streets of New Malden, London.

Customers who purchased the smaller packs of Heinz Baked Beans online on Tesco and Ocado took to the reviews to bemoan the alteration, with many claiming they felt duped.

Hundreds of shoppers were spotted queueing outside a Tesco in Cheshunt this morning just before it opened its doors to NHS workers and emergency staff.

Ocado UK wants all of its workers to be tested regularly to ensure they are safe to drop off supplies to elderly or vulnerable customers who are 'shielding' for 12 weeks.

There will be concrete barriers, stop and search checks and officers on the ground at festive events in London, Birmingham, Manchester, Leeds, Edinburgh and Bath in the run up to Christmas.

Westpac fears a housing market recovery that began last year will be reversed because of COVID-19. Sydney's median house price has risen by 19 per cent since bottoming out in July 2019.

"Fear is the most contagious disease you can imagine. It makes the virus look like a piker," Warren Buffett, Chairman and CEO of Berkshire Hathaway, said.Buffet's net worth is an estimated $72 billion, and his investment firm has a cash pile of $137 billion.Buffett's view, and it is hard to disagree with it, the worst of the coronavirus impact on the global economy and markets may not be over yet."Fear is the most contagious disease you can imagine. It makes the virus look like a piker," Warren Buffett, Chairman and CEO of Berkshire Hathaway, and more importantly an iconic investor said. "I don’t believe anybody knows what the market is going to do tomorrow, next week, next month, next year,” he added.The words are from a man whose net worth is an estimated $72 billion, and his investment

Treasury Secretary Steve Mnuchin met with Russia's ambassador to the U.S. amid the steep drop in financial markets Monday.

EVGENY LEBEDEV: It is not 'racist' to confront the medieval beliefs of so-called traditional medicine around the world. If China fails to act, the rest of the world should take steps to force its hand.

Saudi Arabia, Russia and others agreed to slash their output by nearly 10million barrels per day to prop up prices after a slump in demand.

Disney's Frozen 2 is growing momentum, scoring $18.6M from 26 markets globally through Thursday.

Since I have begun to write on the urgent need to close live animal markets, I have been surprised by the support I have received from across the UK.

Foodies can now make hot chips in just four minutes after a new range of microwave fries hit shelves at Australian supermarket stores.

Claire Hart took to Facebook group Extreme Couponing and Bargain UK and shared a snap of Ann Summers' penis-shaped pasta. She joked: '3 for 2 Ann summer's if anyone gets stuck.'

The recent stock market falls have been the worst since the financial crisis and, just as then, we are in new and sobering territory.

Speaking to analysts following a store tour in Southampton, bosses explained their reasoning behind the changes, which will ultimately lead to cost savings of £500 million.

Hedge fund manager Dan Niles, who warned clients of the oncoming impact of the coronavirus on global markets, projects up to another potential 30% drop from March's end point is coming.

Investors are reeling after virus fears wiped nearly $3 trillion off the combined market value of S&P 500 companies this week, with the index confirming its fastest correction in history.

Wolves are keeping in regular contact with their stars to offer safety advice - one of which is to stay away from supermarkets when shopping for food. Striker Pedro Neto has revealed the measures.

The recent stock market falls have been the worst since the financial crisis and, just as then, we are in new and sobering territory.

Analysis of items sold in Asda, Tesco and Sainsbury's reveal that customers often are paying a premium for loose produce compared to items packaged up in plastic.

Among the menial jobs the victims found at recycling plants, warehouses, farms or poultry factories were roles in the supply chains for Tesco and Asda, working at a farm in Pershore, Worcestershire.