FirstFT: the best stories of the day | Financial Times
Exclusive: UK in talks with some of the world’s largest sovereign wealth funds and pension funds invest in UK green energy projects, including gigafactories and offshore wind farms.
British Minister Gerry Grimstone told the Financial Times he has had discussions with investors such as Temasek and GIC, Singaporean sovereign wealth funds, as well as Australian and Canadian public pension plans. Investors will be invited to a government summit at Windsor Castle in October.
But the former president of Standard Life Aberdeen admitted there were questions about whether one of Britain’s largest planned foreign investments – a nuclear power plant proposed by Chinese state group CGN – was going to continue.
Grimstone said the government is keen to secure investment in low-emission projects in the UK, from electric car battery factories to offshore wind farms and carbon capture and storage, ahead of the climate conference in the UN COP26 in Glasgow in November.
A single vaccine dose may halve the risk of passing Covid-19 to household members, according to in-depth real-world study.
the we The CDC revised its guidelines for wearing masks outdoors, saying it was safe for fully vaccinated people to exercise or attend small outdoor gatherings. Made in the USA AstraZeneca Covid-19 vaccines will experience delays in reaching hard-hit countries due to problems at a supplier’s plant
The sudden slowdown in vaccinations revealed Joe biden’s next challenges: persuade reluctant Americans take the hits. This is the second in a series on the first 100 days of the President’s tenure.
India deployed soldiers and built field hospitals to bolster its fight against a devastating second wave. A critical oxygen shortage underlined the gravity of the crisis. Read the experience of a New York Times reporter at life during the surge.
Novartis warned of delayed cancer diagnoses due to coronavirus, as the Swiss drug maker missed first quarter revenue and sales forecasts.
JP Morgan chase away told all of his U.S. bankers that they should make arrangements to be back in the office on a rotational basis in early July. (FT, NYT)
Are you ready to return to the office? Take our survey.
Follow the news of our live blog and Register now for our Coronavirus Business Update newsletter.
In the news
Global IPOs start 2021 at a breakneck pace Stock quotes around the world are run at a record pace, with deal numbers and values at their highest level for the start of any year in at least two decades: 875 initial public offers raising at least $ 1 million were closed globally in 2021, far surpassing the previous record of the last few months of the dotcom boom in 2000.
Google profits hit record Alphabet, the parent company of the tech giant, announced record first quarter results as homebound users watched videos and clicked web ads served by the company, which announced a buyback program for the company. ‘$ 50 billion shares. Microsoft has exceeded expectations thanks to skyrocketing sales of PCs and game consoles and demand for cloud services.
Bank losses due to Archegos implosion exceed $ 10 billion Nomura and UBS were the latest to report losses from the collapse of the family office run by Bill Hwang, with Nomura reporting a $ 2.9 billion hit and suspending its blue chip brokerage head while UBS has revealed a loss of $ 861 million. The hardest-hit bank, Credit Suisse, faces close scrutiny from the US Senate over separate allegations of violating its landmark 2014 tax avoidance rule. The new chairman of the Swiss lender, António Horta-Osório, will seek to revise its risk management culture after the failures of Archegos and Greensill Capital.
MPs vote on Brexit trade deal Brussels has warned its trade deal with the UK would allow it to hit British goods with tariffs if Boris Johnson fails to meet post-Brexit obligations to Northern Ireland, as the European Parliament moves to ratify the treaty. The result will be announced this morning. register here for our Europe Express newsletter, your essential guide to what matters in Europe today, every morning of the week.
In addition, a first hearing will take place today on the accusation of the European Commission that AstraZeneca violated its agreement to supply vaccines to the EU.
Biden to raise the minimum wage The US president signed an executive order requiring federal contractors to pay a minimum wage of $ 15 an hour as he increased pressure on businesses and Congress to raise workers’ wages. Democrats, meanwhile, were among the skeptics of Joe Biden’s plan to raise the tax rate on the richest Americans to nearly 40%. Chrystia Freeland, Canada’s Finance Minister, called the US proposal for a minimum global corporate levy “decisive moment»In the deadlock of international tax negotiations.
China to herald first population decline in 5 decades China’s latest census, which was completed in December but has yet to be released, is expected to put the country’s total population below 1.4 billion, its first drop since Mao Zedong’s disastrous Great Leap Forward. , despite the relaxation of strict family planning. policies in 2015.
Brussels targets Apple Brussels EU competition chief Margrethe Vestager this week will accuse the iPhone maker of anti-competitive behavior over concerns raised by Spotify that App Store rules for developers violate EU law. Ten months after Apple promised “enhanced privacy features” for iPhones, the changes have finally arrived.
The day ahead
Fed meeting Investors will follow the Federal Reserve’s post-meeting press conference today for any indication from President Jay Powell on the US central bank’s thinking on inflation.
Earnings It’s another big day for income: Apple is expected to post exceptional quarterly results with revenues of $ 76.6 billion, while other reporting tech, e-commerce and social media companies include Facebook, eBay, Shopify, and Spotify. Samsung, also on the verge of reporting, is hosting its latest Galaxy Unpacked event.
In the banking sector: Santander, Lloyds Banking Group and Metro Bank publish their results. Other reporting companies include the London Stock Exchange, Boeing, and GlaxoSmithKline, here.
What else do we read
Briefing War No. 10 Tory MPs examining the allegation that Boris Johnson telephoned sympathetic newspaper editors to accuse Dominic Cummings of “systematic leakage” may ask two questions: How damaging is that to the British Prime Minister? And – an eternal poseur of conservative politics – what is his former rival Michael Gove doing?
How will the SNP behave in the May elections in Scotland? The Scottish National Party is on its way to being the largest group in the Scottish Parliament, but it could struggle to secure an overall majority, according to an FT poll. What do the opinion polls reveal ahead of the Scottish and Welsh parliamentary elections on 6 May?
China is wrong to think that the United States is facing decline While America might falter, that would be its choice and not its fate, writes Martin Wolf. Its economic advantages are too important. This was the basis of its global power and influence. So what does its power of innovation look like today? The answer is: pretty good, despite competition from China.
The new wave of crypto users A growing number of Latin Americans are using cryptocurrency send funds from the United States to the family at home. While technological barriers still exist, crypto allows migrant workers to avoid high commission fees and has grown in popularity amid problems with currency devaluation. (Rest of the world)
Creating better jobs for young people What do young people expect from the world of work? Tired tropes about “job applicants” looking for “meaning” are a distraction. Most young people want what their parents and grandparents wanted: a decent income, a chance to grow, and enough security to build a life. The problem is, too few understand it.
Have you recently graduated? As part of a reporting project, we want to know what the past year has been like for you. Please share your stories and thoughts in our investigation.
Podcast of the day
The finances of moving abroad After months of deadlock, Viktoria, a 31-year-old financial professional, is considering moving abroad. She talks to Claer Barrett about her desire to escape corporate life in London and her worries about the fate of her property, pensions and investments.