China’s exports show signs of recovery but demand falters in US and Europe

Combining Virgin Media and O2 would reshape British telecoms market

With swaggering reggae beats to modern Maghrebi, the near-original line-up reunites for a new studio album

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.

Mauren Pereira's drapery business was on track for its most financially successful year to date. That was until the coronavirus outbreak reached Virginia. Behind the Money reports on how one small business owner is navigating the current economic crisis. With Brendan Greeley, US economics editor for the Financial Times. 

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Mortality statistics show 122,000 deaths in excess of normal levels across 14 countries analysed by the FT

Donald Trump’s claims that the Wuhan Institute of Virology was source of outbreak belie scientific evidence

Pandemic is causing the biggest disruption in decades to economies across the world

Which conferences are worth your time and money? Here’s how to decide

Proposed deal would create strong UK competitor to challenge BT

Korean electronics group draws on lessons from past epidemics to tackle coronavirus crisis

The London Stock Exchange group has confirmed that it is in advanced talks to buy Refinitiv in a $27bn deal that would turn it into a global exchanges and data powerhouse. Patrick Jenkins discusses the proposed deal with Arash Massoudi, the FT’s corporate finance and deals editor.

Contributors: Patrick Jenkins, financial editor, Arash Massoudi, corporate finance and deals editor. Producer: Fiona Symon

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Two decades ago, international telecoms companies came close to dominating a global market. Nowadays however, the vision of a global telecoms company seems to be dwindling. Patricia Nilsson and Nic Fildes discuss why.

Contributors: Patricia Nilsson, media correspondent and Nic Fildes, telecoms correspondent. Producer: Persis Love

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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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Drugs traffickers hit by coronavirus-induced slowdown and seizures, says UN agency

Investors have bet on Gilead’s remdesivir as solution to coronavirus crisis

State-backed utility under pressure as it plans to invest in new coal mines

How markets are beginning to stir from their coronavirus-induced slumber

Governments should borrow more to stave off secular stagnation

Countries should avoid turning to nationalism and share the burdens

Watchdogs put 12-month extension on new margin requirements, citing coronavirus threat

Despite public anger, corporate regulation is likely to remain fragmented

Fall could be the equivalent of India’s total annual consumption, IEA says

McKinsey, BCG and PwC named in records showing allegations of looting by Angolan billionaire

Endiama chief wants ‘radical change’ in overhaul of country’s scandal-hit gem industry

Healthcare tech group chief calls estimate to deal with coronavirus ‘conservative’ as it boosts medical equipment production

Hedge fund billionaire cites Silver Lake-backed company’s reliance on international travel

Dow wipes out gains of the Trump presidency amid fears antivirus measures are inadequate

Every major asset class has been disrupted

Energy sector leads US S&P 500 to 2.3% gain   

Stocks rise but crude tumbles as world’s largest oil ETF cuts stake

Countries ban exports in attempt to protect environment as consumption is set to soar

Differences remain but Europe leaders are growing accustomed to US president’s style

The epidemic could weaken Donald Trump and Xi Jinping, feed conspiracy theories and lead to closed borders

Several long-running conflicts are edging towards a temporary halt to hostilities

Combination of O2 and Virgin Media set to transform British telecoms market

O2 and Virgin Media’s £31bn merger is one of the biggest examples of virtual dealmaking during pandemic

Outbreak ripples across US, European and Asian equity markets

Samsung overnight released its earnings guidance for the first quarter of 2020, stating that it expected sales of $45.4 billion and an operating profit of roughly $5.3 billion. The company’s fiscal year is aligned to the standard calendar year, and it will announce official earnings results on April 23. Those numbers are slightly up from […]

LinkedIn has cornered the market when it comes to putting your own professional profile online and using it to network for jobs, industry connections and professional development. But when it comes to looking at a chart of the people, and specifically the leadership teams, who make up organizations more holistically, the Microsoft-owned network comes up […]

For the most part, its unravelling ought to be of deep concern. But we need a new social compact

Kim-Mai Cutler Contributor Kim-Mai Cutler is an operating partner for Initialized Capital, an early-stage venture firm and was previously a journalist covering technology, finance and policy issues at TechCrunch -- best-known for her long-form work on the Bay Area. More posts by this contributor The outlook for Bay Area startup space in 2017 OpenVote launches […]

US, China and Europe must work together to defeat coronavirus

We knew it was going to be bad — but not necessarily “lowest level since 2013” bad. As Apple was busy reporting its earnings, Canalys just dropped some of its own figures — and they’re not pretty. After two quarters of much-needed growing, the global smartphone market just took a big hit. And you no […]

Early-stage companies often have trouble dealing with the amount of data that can run through the organization, especially as it grows. Large sums are spent on data software, dislocated data, dealing with data pipelines. All of which involve data warehousing, cleaning tools and a visualization platform. Count is a startup that is an attempt to […]

Just as challenger banks have appeared in the B2C space, so to have B2B startup banks aimed at small businesses, among them startups like Qonto (Fr), Tide (UK), Penta (GER) and CountingUp (UK). Today another such firm, Finom, has closed a €6.5m ($7M) seed funding round led by Target Global, with participation from General Catalyst. […]

Microsoft is embarking on a new sustainability initiative as part of its overall approach to support environmental protection measures, with a project it calls the “Planetary Computer.” This will actually be a computing endeavor that uses aggregated global environmental data collected from a number of sources as its input, and that will seek to employ […]

By the end of 2019, the global gaming market is estimated to be worth $152 billion, with 45% of that, $68.5 billion, coming directly from mobile games.

In its March 2020 update, the U.S. Energy Information Administration (EIA) significantly revised its Short-Term Energy Outlook for global oil supply, demand, and prices compared with the February Short-Term Energy Outlook. These updates largely resulted from updated data and assumptions about the effects of the 2019 novel coronavirus disease (COVID-19) on global oil demand and assumptions regarding the Organization of the Petroleum Exporting Countries (OPEC) crude oil production following its meeting on March 6. EIA now forecasts that OPEC will target market share instead of a balanced global oil market. As a result, EIA expects that OPEC crude oil production will increase to an average 29.1 million barrels per day in the second and third quarters of 2020. EIA forecasts that global demand for liquid fuels will grow by 0.4 million barrels per day from 2019 to 2020, down from the 1.0 million barrels per day increase EIA previously forecasted in February. The revised March estimate is driven by EIA's expectations of slowing economic growth, primarily related to the effects of the coronavirus outbreak. EIA expects the decline in global liquid fuels demand, combined with the increase in OPEC production, to result in significant global oil inventory builds in the first half of 2020-putting continued downward pressure on prices. EIA forecasts Brent oil prices will average 43 dollars per barrel in 2020 and 55 dollars per barrel in 2021.

As a result of the global economic slowdown related to COVID-19, the U.S. Energy Information Administration estimates that global petroleum and liquids consumption will average 95.5 million barrels per day in 2020, down 5.2 million barrels per day from 2019. EIA forecasts that U.S. oil consumption will decline 6.5% in 2020 to average 19.1 million barrels per day, which would be the largest percentage decline in U.S. consumption since 1980. At the same time, in its April 2020 Short-Term Energy Outlook, EIA expects global oil supply to increase in the coming months from first-quarter 2020 levels. Total world liquids supply will average 98.7 million barrels per day through the third quarter of 2020. These supply and demand developments are contributing to a significant increase in liquid fuels inventories. EIA estimates that second-quarter 2020 global petroleum inventories will increase an average 11.4 million barrels per day. Within the Organization for Economic Cooperation and Development, the most stocks recorded in historical data were in July 2016 at 3.1 billion barrels. EIA forecasts inventories will surpass this level as production continues to outpace consumption. EIA expects these large stock builds will put downward pressure on crude oil prices for several months. Brent crude oil prices averaged 32 dollars per barrel in March, the lowest monthly average since January 2016. EIA forecasts Brent crude oil to average 23 dollars per barrel during the second quarter of 2020 before increasing to an average 46 dollars per barrels in 2021.