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AstraZeneca and Oxford university agree deal to develop virus vaccine

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




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Coronavirus vaccine: an epidemic of nationalism

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




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Cost of vaccinating billions against Covid-19 put at more than $20bn

Sum far exceeds $8bn fundraising target at upcoming EU-led donors’ conference




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Can China win big in vaccine race with biotech bet

Nation’s pharma industry has matured but is still a lot better at incremental innovation than major breakthroughs




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Coronavirus: US death toll approaches 62,000 — as it happened




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US solar industry powers ahead as investors back batteries

Fund managers and energy-hungry tech companies bankroll ‘solar-plus-storage’ projects




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Electricity prices slump as businesses close across the US

Shutdowns likely to shift energy use from fossil fuels towards wind and solar




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National Express/placings: fortune favours the financed

Well-capitalised businesses will have an increased advantage for the next few years




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Coronavirus tracked: the latest figures as countries fight to contain the pandemic

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




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Iran’s parliament backs move to cut 4 zeros from its currency

Rial to be changed to the toman after five decades of inflation




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Facebook’s Libra appoints Bush-era terrorism finance tsar as first chief

Stuart Levey, known for tough enforcement of sanctions on Iran, will head digital currency project




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Global economy is at risk from monetary policy black hole

Governments should borrow more to stave off secular stagnation




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Finding a Covid-19 vaccine needs a global effort

Countries should avoid turning to nationalism and share the burdens




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Now Britain must overcome the fear factor

The government needs to address concerns over the return to normal life




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How coronavirus brought aerospace down to earth

The industry has been one of the hardest hit, with contracts cancelled, production halted and pleas for big bailouts




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Airbus: braced for impact

The pandemic has made airlines reluctant or unable to accept new jets




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Traders brace for reform of US data releases

Banning computers from ‘lock-ups’ forces rethink on how markets respond




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Intercontinental Exchange chief defends eBay approach 

NYSE owner did not ‘lose its mind’, says Jeffrey Sprecher




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LSE’s $27bn deal for Refinitiv faces heat in Brussels

London bourse’s transformative acquisition is facing more scrutiny than expected




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Interactive Brokers takes $88m hit from crude futures collapse

Shares in brokerage firm drop overnight after it discloses payments to clearing houses




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Refinitiv’s data-race struggle highlights LSE challenge

Business being bought from Blackstone-led consortium has lost ground to Bloomberg




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Branson clears path to sell $1bn stake in Virgin Galactic

Filing opens door to potential sale of half of Virgin Group’s holding in space venture




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A £31bn merger and a master dealmaker in action

John Malone shows his adroitness in deal between Liberty Global and Telefónica




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My favourite pieces: Sandra Choi travels far for good accessories

The Jimmy Choo shoe designer says jewellery has influenced her work




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Inside Bill Ackman’s $2.6bn big short

Hedge fund chief bets on stockmarket recovery after profiting from coronavirus sell-off




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Energy group EN+ to buy back stake from Russia’s VTB

Recently sanctioned London-listed company seeks to simplify ownership structure




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Gupta completes acquisition of bankrupt Indian steelmaker

Business tycoon’s GFG Alliance makes first foray into fast-growing market after long court battle




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Four groups swoop for British Steel’s French factory

Bids complicate Chinese investor’s efforts to buy out whole of troubled company




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Aluminium industry faces huge supply glut

Thousands of jobs at risk as coronavirus pandemic leads to a fall-off in demand




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Tata Steel may face obstacles in securing Covid loan

Chunk of assets already pledged as collateral could complicate efforts to secure fresh debt




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Heathrow’s third runway plan faces further delay of at least two years

UK airport reports slump in passenger demand as calls resurface for expansion to be axed




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Space or bust: Richard Branson’s Virgin dilemma

How Virgin Galactic might help the rest of the group escape the gravitational pull of coronavirus




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African entrepreneurs pitch to Alibaba founder Jack Ma

Business contestants battle for $1m prize money in glitzy televised extravaganza




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South Africa to impose its biggest rolling power blackouts

Eskom will remove 6,000 megawatts of demand to avert total collapse of national grid




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SoftBank: back to buybacks

Japanese tech group’s splurge on its own shares is not enough to impress investors




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Wall Street records first back-to-back gains in over a month

S&P 500 gives back some of its earlier rally as US stimulus package attracts objections on Capitol Hill




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Samsung shares create Korea headache for US investors

Change in Kospi 200 composition prompts US venues to suspend related derivatives




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Hong Kong’s hidebound brokers face coronavirus reckoning

Viral outbreak has sped shift to online platforms, squeezing many traditional outfits




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Blackstone makes new investment in coronavirus-hit casinos

Private equity group acquires 10% stake in Australia’s Crown Resorts




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Nationwide pulls tracker mortgages after historic base rate cut 

Mortgage products tracking base rate vanish as ‘the numbers no longer stack up’ 




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Non-bank lenders push for access to emergency state funding

Lobby groups led by UK Finance warn there is likelihood of ‘severe’ impact to borrowers




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US mortgage lenders face liquidity crunch

Non-bank lenders put on downgrade watch as sector braces for wave of borrowers not paying




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US businesses face uncertainty over paying staff for temperature checks

The time it takes for employees to be assessed is putting companies in delicate legal territory




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Government eyes flexible furlough extension to get UK back to work

Sharma signals tapering of scheme as Johnson prepares to announce road map out of lockdown




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Initial finding backs US health official over virus sidelining

Rick Bright’s lawyers say federal investigators recommend he be reinstated during probe




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UK quarantine plan poses fresh setback for aviation sector

Airlines and airports say 14-day isolation period would be a ‘death blow’ to industry




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Insurer Geico offers $2.5bn of discounts as car accidents dwindle

Industry expects a sharp decline in claims as drivers stay at home during coronavirus pandemic




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FT ranking: Asia-Pacific High-Growth Companies

Coronavirus means many businesses face an uncertain future but the region’s fundamentals will aid recovery




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FT High-Growth Companies Asia-Pacific

Businesses shift their focus from scale to survival as a coronavirus-led downturn takes hold — but the region’s underlying growth prospects bode well for the recovery




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Governments should backstop trade credit

As corporate insolvencies soar and firms try to hang on to their cash as long as possible, expect to hear a lot more about trade credit insurance.