Amsterdam becomes Europe’s trading hub, AstraZeneca vaccine to help poor countries, Italy’s recovery fund
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 11 February 2021
⏱️ 8 minutes
🧾️ Download transcript
Summary
Amsterdam surpassed London as Europe’s largest share trading centre last month, Federal Reserve chairman Jay Powell has pledged to keep monetary policy loose to support the struggling US labour market, and the World Health Organization recommended the use of the Oxford/AstraZeneca vaccine for all adults. Plus, Italy will receive €200bn from the EU’s coronavirus recovery fund to help revive its economy. The FT’s Brussels bureau chief, Sam Fleming, explains what is at stake for Italy and the EU.
Amsterdam ousts London as Europe’s top share trading hub
https://www.ft.com/content/3dad4ef3-59e8-437e-8f63-f629a5b7d0aa
Powell stresses patience in pledge to keep monetary policy loose
https://www.ft.com/content/7ed63e7f-5389-42e8-beed-15b5d450c589
WHO recommends use of Oxford/AstraZeneca vaccine for all adults
https://www.ft.com/content/be33aa38-5eff-4069-b104-ba7bdb735c72
‘We expect Italy to do its homework’: Draghi and the EU recovery fund
https://www.ft.com/content/7c2007d9-6ce9-4895-ac5c-cd17e3bf69b2
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Thursday, February 11th, and this is your FT news briefing. |
| 0:08.8 | Amsterdam has overtaken London as Europe's top share trading center. |
| 0:13.2 | J. Powell stresses patients with current US monetary policy as he tries to stamp out concerns |
| 0:18.4 | about inflation. And the World Health Organization recommends the use of the Oxford AstraZeneca COVID |
| 0:25.0 | vaccine. Plus the EU is giving a massive amount of funds to Italy as it recovers from the |
| 0:29.4 | coronavirus. But that money doesn't come without a ton of scrutiny. We'll take a look at what's |
| 0:34.3 | at stake. I'm Mark Filipino. Here's the news you need to start your day. |
| 0:42.6 | Thanks to Brexit, Amsterdam has unceded London from its historic position as Europe's top |
| 0:47.6 | share trading center. Numbers from January show an average of 9.2 billion euros worth of shares a |
| 0:53.2 | day were traded on the Euro next Amsterdam exchange and the Dutch arms of CBOE Europe in turquoise. |
| 0:59.2 | That's up fourfold from December. Trading volumes in London fell sharply to 8.6 billion euros. |
| 1:06.5 | Businesses have shifted from London to Amsterdam because of a ban on EU-based financial |
| 1:11.2 | institutions trading in the UK. Brussels has not recognized British exchanges and |
| 1:16.0 | trading venues as having the same supervisory status as its own. |
| 1:25.1 | Federal Reserve Chairman Jay Powell spoke to the Economic Club of New York yesterday. |
| 1:29.6 | He stressed the importance of patiently accommodative monetary policy that embraces the lessons |
| 1:34.8 | of the past. Powell said last month's US employment data showed a greater shortfall than |
| 1:40.4 | the worst of the great recessions. He said policy makers would still have plenty of work to do in |
| 1:46.4 | order to close that gap. While emphasizing the number of people out of work, Powell shrugged off |
| 1:52.0 | fears about inflation. Some economists and officials see inflation as a risk of the current |
| 1:57.1 | loose monetary policy, as well as massive spending from a stimulus plan being hammered out in |
| 2:02.2 | Washington. Powell said as an economic recovery picks up speed, price increases were likely to be |
... |
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