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Brussels woos world leaders for pandemic fundraising marathon

EU hosts online pledging event but €7.5bn target for vaccines, testing and treatment will only be first step




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Dubai’s port operator DP World to return to private hands

Premium offered for shares as group seeks to pay back debt owed by its parent company




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Oil tanker owners cruise to bumper quarter as rates surge

Cost of hiring a very large crude carrier rises past $200,000/day




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Ferry operators warn routes might have to close 

UK government support needed to ensure supply of food and medicines




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Lockdown deepens woes of India’s mobile operators

Subsidies and freebies to retain cash-strapped users add to sector’s financial burden




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The lilac in literature

The flower is a motif found in writers from Eliot to Proust to Turgenev




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Villa Majorelle: inside an Art Nouveau restoration

This cornucopia of vegetation in ceramic and bronze is the apotheosis of the style




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Bang on a Can Marathon — six hours of music from the boundary-breaking group

The annual parade of work by living composers went online, performed from living rooms




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Fresh help for care homes as infection rate rises

Leaked Whitehall plan reveals concerns 3 years ago over extra support for sector




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Private train operators receive £400m in subsidies

First time in five years that rail groups have not paid into state coffers




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Pandemic accelerates shift to meat substitutes

Plant-based alternative sales jump 200 per cent in US amid slaughterhouse closures




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Credit Suisse scandal, Wells Fargo's new chief and ECB interest rate policy

David Crow and guests discuss the scandal that has engulfed Credit Suisse, including the apparent suicide of a security consultant involved in a corporate espionage operation for the bank, US bank Wells Fargo's new chief executive, and the merits of the European Central Bank's interest rate policy. With special guest Jean Pierre Mustier, president of the European Banking Federation and chief executive of Italian bank UniCredit.


Contributors: David Crow, Banking editor, Sam Jones, correspondent in Zurich, Laura Noonan, US banking editor, and Patrick Jenkins, financial editor. Producer: Fiona Symon

 

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Behind the Money: Ford, GM and the corporate dash for cash

Behind the Money is a podcast from the Financial Times that takes listeners inside the business and financial stories of the moment, with reporting from FT journalists around the world. You can find Behind the Money wherever you get your podcasts, including FT.com/behindthemoney.


When credit markets seized up earlier in March, more than 130 companies rushed to their lenders to draw down at least $124bn of emergency credit lines to shore up cash, with Ford and General Motors drawing among the largest amounts. We look at how the auto industry is preparing for the economic uncertainty that lies ahead. With the FT's Peter Campbell and Gillian Tett.

 

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Coronavirus deepens frustrations of young in Middle East

Pandemic stopped protests in Iraq, Algeria and Lebanon, but crisis likely to fuel fresh wave of unrest




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Trump suspends key routes to US immigration for 60 days

President says restrictions will apply to green card applicants aiming for permanent residency




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Writing Britain: how landscape shapes art and literature

From Dickens’ London to Wordsworth’s Lakes via the painter George Shaw’s suburban “edgelands”, the British landscape has long permeated writing and visual art. On the opening of the British Library’s exhibition Writing Britain: Wastelands to Wonderlands, Jan Dalley talks to the poet Owen Sheers; the exhibition’s curator Jamie Andrews; and FT art critic Jackie Wullschlager. The travel writer Robert Macfarlane is on the line. Plus, Faber's 1998 recording of Harold Pinter reading his poem “Joseph Brearley 1909-1977” © Faber & Faber Produced by Griselda Murray Brown  


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Restoration drama: Peter Aspden on Kenwood House

Efforts to restore historic buildings to their original splendour tell us as much about today’s tastes as they do about yesterday’s  


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A Banksy in the boardroom: Peter Aspden on corporate collections

Businesses like buying contemporary art to show off their forward-thinking and investment savvy. Fair enough – but it still sits oddly with artists’ desire to provoke and subvert  


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South Africa’s central bank slashes rates to post-apartheid low

Reduction is second in under a month as country braces for an extended coronavirus lockdown




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Africa could take ‘a generation’ to recover from coronavirus, says Kagame 

Rwanda’s president says continent needs at least $100bn in foreign support to weather shock




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Millennial v Boomer: young generation wants radical feedback

Newer employees like their appraisals upfront and often




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Good cause to celebrate a woman in the chair

Olga Zoutendijk’s appointment as chair of ABN Amro is a landmark, and the bank is better for it




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How to take down walls and build a strategic network

Why women must conquer their fear of networking and do it anyway




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Richard Horton: ‘It’s the biggest science policy failure in a generation’

The Lancet editor on Britain’s response to coronavirus — and being labelled a pariah




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UK property groups plead for extended business rates holiday

Office providers warn chancellor that companies will go bankrupt without relief




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Mystery surrounds foiled ‘plot’ to liberate Venezuela

All attempts to remove President Nicolás Maduro from power have failed




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Wave of corporate defaults owes much to foolhardy share buybacks

Big investors must adopt a tougher stance on balance sheet resilience




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Investment biker Jim Rogers desperate to hit the road

Renowned investor warns market correction is not over but there is value in commodities




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UK and Irish help for Trump Organization probed by Democrats

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




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Kamala Harris and the race for the Democratic presidential nomination

The race for the US Democratic presidential nomination is hotting up with a huge field of 23 candidates all hoping run against Donald Trump in 2020.  Courtney Weaver has focused in on one of the candidates, Kamala Harris, and she talks to Neville Hawcock about how the campaign for the Democratic nomination is shaping up. Read Courtney's article here


Contributors: Josh Noble, weekend news editor, Neville Hawcock, acting deputy editor, FT Weekend Magazine, and Courtney Weaver, Washington correspondent. Producer: Fiona Symon

 

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Paul Volcker's message for the next generation

Paul Volcker, who died at the weekend, was one of the most influential monetary policy makers of the 20th century. The FT’s Gillian Tett spoke to the former central banker at his home in New York last year about his views on good government, regulating finance and US China relations. In this podcast, she shares some excerpts from the conversation.


Contributors: Katie Martin, markets editor, and Gillian Tett, chair of the FT editorial board (US). Producers: Fiona Symon and Aimee Keane

 

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El Salvador wields heavy hand to contain murder rate

Varying efforts to stem rise in homicides across Latin America have failed




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Architect of Sweden’s no-lockdown strategy insists it will pay off

Epidemiologist Anders Tegnell says other countries could face big ‘second wave’




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Turkey slashes rates in bid to shore up economy against coronavirus

Eighth consecutive cut could heap fresh pressure on already struggling lira




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Corporate bailouts should come with strings

Business cannot expect emergency cash without sensible conditions




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Nigeria ratifies finance law in boost for small business

Legislation cuts taxes for some enterprises while increasing VAT




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Japan’s corporate cash-hoarders have moment in sun

Virus’s swift and unforgiving economic effect may silence activists




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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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Fed buys more mortgage bonds as rates rise above 4%

US central bank accelerates purchases to stabilise market for securities backed by home loans




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Banks say Fed rescue threatens mortgage hedging strategies 

Regulatory action sought to prevent intervention from having unintended consequences




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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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US lawmakers clash over new stimulus as jobless rate soars

Scale of unemployment underscores urgency of additional emergency relief funds




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Robots/Covid-19: automation rations

Pandemic may spur greater use of robotics in food industry to cater for virus-wary customers




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Retailers under pressure to close online operations

Yoox-Net-a-Porter and Paul Smith join list of brands that have suspended ecommerce sales




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Adidas says lockdown recovery will be ‘gradual rather than instant’

Sportswear maker warns sales could drop as much as 40% in second quarter




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Donald Trump’s erratic diplomacy has a price

The UK’s decision on Huawei should give the US cause for reflection as much as reproach




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How Beijing reframed the virus response narrative

Arguments for authoritarianism and against democracy will be made with increased boldness




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Biggest US energy groups lay out oil crash strategy

ExxonMobil and Chevron deploy plans for cutbacks but preserve dividends




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Chelsea’s five-year fixed-rate mortgage

3.19 per cent deal comes with a fee of £1,495




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Lockdown is exposing the folly of reckless financial strategies

Pension funds need to spend less time on ESG and get back to basics