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The future of books — rise in digital publishing and social media

How is the crisis changing our reading habits and accelerating the industry’s digital revolution?




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ITV advertising revenues tumble 42% in April

British TV network unable to provide guidance for the rest of 2020 as outlook is ‘uncertain’




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Thousands could now be eligible for child benefit payments

Parents who haven’t historically claimed could now do so due to lost income




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‘Chancellor must iron out problems for limited company directors’

Mel Stride, former Treasury minister, calls for help for business owners who pay themselves in dividends




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Lloyd Blankfein: ‘I might find it harder to vote for Bernie than for Trump’

The former Goldman chief executive on the crash, the criticism — and sparring with Bernie Sanders




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Uber whistleblower Susan Fowler: ‘Everything was chaos’

The former engineer on bullying, tech firm culture and breaking the silence




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Middlesex take county cricket title in blazing fashion

With an hour of season to go, three of the nine teams were all in with a chance of winning




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That’s the Way it Crumbles by Matthew Engel — the conquest of English

An entertaining inquiry into the relentless advance of American expressions among the British




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Henry Blofeld, voice of English summer, to retire

Doyen of radio cricket commentary will hang up his microphone in September




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Bolsonaro doubles down on denialism

Behaviour of Brazil’s ‘walking crisis’ president sparks backlash among one-time allies




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Brazil’s justice minister quits in blow to Bolsonaro

Sérgio Moro was the face of nation’s long-running ‘Car Wash’ anti-corruption probe




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Argentine assets hit after Macri stumbles in primary vote

Peso tumbles and cost to hedge against debt default surges




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Argentina’s black market money changers expect resurgence in business

Reimposition of currency controls is admission of defeat by president




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Election: Tony Blair calls for tactical voting to deprive major parties of a majority — as it happened

Former prime minister intervenes with warning that both Tories and Labour ‘pose a risk’ to country, Conservative manifesto in the spotlight, Lib Dems change tune with calls to avert Johnson majority, Sterling rallies as Tories extend lead.

Read more




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Short cuts: Aiguille du Midi cable car to reopen; disinfection booths at Hong Kong airport

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




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Philip Green fashion empire crumbles

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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Bleak outlook for bankers as trading jobs slashed

Falling interest rates, weak trading volumes and automation have led to an exceptionally brutal summer for global investment banks, which have shed tens of thousands of jobs, particularly on trading desks. Stephen Morris, European banking correspondent, discusses the bleak outlook for bankers with Robert Armstrong, US financial editor.


Contributors: Stephen Morris, European banking correspondent, and Robert Armstrong, US financial editor. Producer: Fiona Symon

 

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Africa's most valuable company comes to Europe

Naspers, a publisher once condemned as a mouthpiece of the apartheid regime in South Africa, has quietly become one of the world’s biggest internet investors thanks to a stake in China’s Tencent. On 11 September it will list its global internet assets on the Amsterdam bourse, becoming Europe's biggest consumer internet company overnight. Arash Massoudi discusses how it got there with Joseph Cotterill in Johannesburg.


Contributors: Arash Massoudi, corporate finance and deals editor, and Joseph Cotterill, Southern Africa correspondent. Producer: Fiona Symon

 

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Memoirs of a whistleblower

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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Exposing the problem with default data

Caroline Criado-Perez won the latest Financial Times and McKinsey Business Book of the Year Award with her book Invisible Women: Exposing Data Bias in a World Designed for Men. She spoke to Andrew Hill, the FT’s management editor, about the consequences for women and for society as a whole of using men as the default model.


Contributors: Andrew Hill, management editor, and Caroline Criado Perez. Producers: Marc Filippino and Fiona Symon

 

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Does the Fed have a communication problem?

The US Federal Reserve has begun to consult the public, particularly in poorer parts of the country about monetary policy. As a result, policy wonks at the central bank have begun to reconsider the impact of their decisions on communities far from the centres of power. Brendan Greeley discusses the so-called Fed Listens sessions with Patrick Jenkins.


Contributors: Patrick Jenkins, Deputy Editor and Brendan Greeley, US economics editor. Producers: Fiona Symon and Persis Love. Photo credit: Alex Wong/Getty


 

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Republican $1tn plan, Paul Tucker on damage limits

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.


Friday, March 20

Republicans in the US Senate have introduced legislation to inject more than $1tn of fiscal stimulus into the economy as it grapples with the coronavirus outbreak. Sir Paul Tucker, the former deputy governor of the Bank of England and current chair of the Systemic Risk Council, says it’s time for policymakers and bankers to prepare for a wartime setting if conditions deteriorate. Plus, the only US drugmaker that makes a potential treatment for the coronavirus raised the price nearly 100 per cent in January as the outbreak wreaked havoc in China. 

 

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Dozens of existing drugs being tested as possible virus treatments

Research paper published in journal Nature identifies number of alternative treatments




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From blood clots to ‘Covid toe’: the medical mysteries of coronavirus

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




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Trump appointees vote to block US coal joint venture

Shares in Peabody Energy and Arch Coal fall sharply after regulatory action




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Stumbling into May after running too fast

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




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Stablecoins as a collateral sinkhole

There’s a chronic paradox at the heart of stablecoin-based payment systems that will render them cost-prohibitive.




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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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Airbus is ‘bleeding cash’, says chief executive

Guillaume Faury tells employees in letter that lockdown threatens manufacturer’s existence




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EasyJet says Stelios pressure ‘highly undesirable’

Airline calls shareholder vote on directors in latest escalation of dispute




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Wearables speak up for the deaf and the lonely

Smart jewellery can help people with disabilities but funding is needed




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Europe has a problem with its SUV habit

The continent faces a new emissions scandal as family vehicles grow bigger and heavier




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Peloton’s sexist Christmas ad has another problem

Misjudged commercial is an example of an especially troublesome type of marketing mistake




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Coronavirus fallout deals small US companies a double blow

Small-cap stocks underperformed large-caps throughout the bear market and rally




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US stocks fall following new wave of jobless claims

European equities slip after ECB launches fresh push to bolster region’s banking system




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Vedanta presses on with plan to double oil production

Group’s founder Anil Agarwal undeterred by price crash and debt levels




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Heathrow’s third runway project now ‘impossible’, says IAG chief

Willie Walsh points out that expansion plans face bigger challenges due to coronavirus impact




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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: money gobbler

The Japanese tech investment group is looking increasingly challenged




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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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Home improvers hit by remortgage problems

Dig downs and loft extensions may increase the value of a home, but it’s hard to borrow against this




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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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US lawmakers clash over new stimulus as jobless rate soars

Scale of unemployment underscores urgency of additional emergency relief funds




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Few precedents for grim US jobless numbers

Economists look back to the Great Depression for clues on the scale of the economic crisis




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Netflix is chilling in Iceland but the rest of the world is a problem

As global lockdowns boost streaming subscriptions, filming freezes spell trouble ahead




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The old are not equally vulnerable to Covid-19

Reducing pensioners to ‘old dears’ ignores their wisdom and physical vitality




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Coronavirus crisis inflicts a double blow to pensions

Retirement plans have suffered tumbling asset values and ballooning liabilities




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Public sector unions take government to court over pension reform

Judicial review sought over alleged breach of 2015 law, claiming cost benefits should go to scheme members




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Black is white for Anglo Irish Bank’s long-suffering shareholders

PwC’s finest scientific minds attempt to prove banks can exist in two states at once




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John McCain, Republican senator, 1936-2018

Vietnam vet and old-school conservative whose friendships crossed the political aisle