FT News Briefing

President-elect Biden is navigating a power struggle within the Democratic Party, balancing the demands of progressives and moderates. As tensions rise, the implications for upcoming elections are crucial. Meanwhile, post-Brexit trade negotiations with the UK are gaining urgency, with significant concessions at stake. The podcast also highlights Westfield's legal threats to tenants over unpaid rents, shedding light on the pandemic's impact on retail businesses during the crucial holiday shopping season.

Joe Biden inches closer to victory as Trump cries foul over election results. The Federal Reserve holds steady on rates, while the Bank of England rolls out a massive stimulus package to combat the second lockdown. Meanwhile, Uber's earnings fall short of expectations despite a rebound in ride-sharing. The podcast also examines Proposition 22, which allows gig economy firms to sidestep worker benefits by classifying employees as independent contractors.

Joe Biden's victories in Wisconsin and Michigan significantly boost his presidential hopes, even as Trump's team launches legal challenges. Investors are recalibrating their strategies amid this political volatility. The U.S. has officially withdrawn from the Paris Climate Agreement, raising concerns about global climate efforts. Experts highlight the potential shift in climate policy with a Biden presidency, emphasizing the importance of U.S. leadership in achieving net zero emissions. The stakes couldn't be higher for both the political landscape and environmental strategies.

The ongoing uncertainty of the U.S. presidential election is causing delays in ballot counting, raising concerns over legal challenges and potential voter fraud. Business leaders are anxious about the implications for democratic stability and their operations. Meanwhile, China has taken a surprising step by suspending Ant Group's $37bn IPO due to regulatory scrutiny, which could have major repercussions for the fintech sector. The call for urgent economic stimulus adds another layer to the current business climate.

As U.S. election day unfolds, anticipation mounts over potential delays in results and the implications of voter turnout. Investors are closely monitoring Trump and Biden's policies that could reshape the market. Meanwhile, Nvidia's ambitious $40 billion deal for Arm faces hurdles due to challenges in China. Volkswagen also finds itself on the edge, nearly brushing against tough EU carbon emission limits. It's a whirlwind of politics, investment insight, and corporate hurdles all colliding.

Europe is bracing for a tough economic forecast, projecting a 2.3% contraction due to new COVID-19 lockdowns. UK business leaders are urging the government for urgent financial support amid these challenges. The aerospace industry is feeling the strain from both Brexit and the pandemic, facing unique export difficulties and regulatory hurdles. The shift from EASA to a domestic authority complicates matters further, highlighting the need for international recognition and agreements in the evolving landscape.

Tech giants reported mixed earnings, with Google leading a rebound in ad sales post-pandemic. Donald Trump is leveraging strong GDP growth to bolster his re-election bid. Meanwhile, early voting has hit record highs ahead of the U.S. presidential election, raising concerns over mail-in voting and potential legal conflicts. As political tensions rise, the implications for voter turnout could be significant amid ongoing economic challenges.

Investors are on edge as Germany and France reintroduce lockdowns to combat rising COVID-19 cases, causing a slump in U.S. stock markets. There are concerns about the economic impact of these measures on both sides of the Atlantic as winter approaches. Meanwhile, China's leadership outlines ambitious long-term goals for the nation, focusing on self-sufficiency and environmental sustainability. The volatility in the stock market reflects broader uncertainties ahead of the U.S. presidential election.

Kieran Stacey, FT's Washington correspondent specializing in tech policy, dives into Apple’s ambitious plans to develop its own search technology as a challenge to Google. He discusses LVMH's negotiations over its acquisition of Tiffany, amid international legal controversies. Stacey also analyzes the upcoming Senate testimonies by tech CEOs regarding Section 230, spotlighting the heated partisan debates on social media regulation ahead of the presidential election. Misinformation in political ads remains a critical issue, complicating the social media landscape.

US stock markets faced their largest decline in a month, fueled by rising coronavirus cases threatening business activity. Meanwhile, European banks showed resilience with improved earnings, as UBS pledged to enhance payouts. Alibaba is making waves in the crowded grocery delivery sector, acquiring a significant stake in a Chinese supermarket chain. Experts discuss the competitive landscape and how technology is driving Alibaba's expansion into this essential market.