Biden’s $2tn infrastructure plan, Deliveroo’s IPO flop, Black Americans in finance
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 1 April 2021
⏱️ 11 minutes
🧾️ Download transcript
Summary
Wall Street touched a record high Wednesday as the White House released details of President Joe Biden’s multi trillion-dollar US stimulus plan, and the food delivery app, Deliveroo, closed down 26 per cent in its first day on the public market. Plus, the FT’s US labour and equalities correspondent, Taylor Nicole Rogers, explains why there are fewer black Americans in financial leadership positions than there were a decade ago.
Tech stocks power Wall St to record ahead of Biden stimulus speech
https://www.ft.com/content/d7a93cb5-f9f1-485a-8b39-1e7a12a97790
Disaster strikes as Deliveroo becomes ‘worst IPO in London’s history’
https://www.ft.com/content/bdf6ac6b-46b5-4f7a-90db-291d7fd2898d
Share of Black employees in senior US finance roles falls despite diversity efforts
https://www.ft.com/content/887d064a-bd5e-4ce6-9671-9057e12bd5c7
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:02.0 | Today is Thursday, April 1. |
| 0:04.0 | This is your FT News Briefing. |
| 0:08.0 | President Joe Biden announced another multi-trillion dollar stimulus plan for the U.S. |
| 0:13.0 | This one focused on infrastructure. |
| 0:15.0 | Meanwhile, the Food Delivery app Deliveroo was roughed up on its first day on London's public markets. |
| 0:21.0 | Plus, the number of black Americans in top finance jobs has fallen. |
| 0:26.0 | Everything that the big banks have been doing to diversify their ranks over the past decade. |
| 0:31.0 | None of these things worked the way that we thought they would. |
| 0:34.0 | A Mark Filipino, and here's the news you need to start your day. |
| 0:40.0 | Stock price is powered to new heights shortly before Joe Biden announced the next big thing on his agenda, |
| 0:46.0 | a massive infrastructure plan. |
| 0:48.0 | The S&P 500 index closed up a fourth of a percent on Wednesday after briefly touching an all-time high earlier in the day. |
| 0:55.0 | Meanwhile, the Nasdaq gained 1.5 percent. |
| 0:58.0 | Biden's plan calls for $2 trillion in government spending for roads and bridges, as well as public transport and electric vehicles. |
| 1:06.0 | It puts people to work to repair and upgrade so that we badly need and to make us more competitive around the world. |
| 1:16.0 | Biden was in Pittsburgh yesterday when he announced details of the infrastructure plan, which will be funded by higher corporate taxes. |
| 1:24.0 | I asked the FT's Washington Bureau Chief, James Pleady, and Biden plans to get that through Congress. |
| 1:29.0 | I think the idea is to try to get it through using the same strategies that they adopted for the 1.9 trillion stimulus plan that passed in March, |
| 1:40.0 | which is they're going to make an attempt to negotiate with the Republicans, but fairly quickly, |
| 1:45.0 | if they don't get any sort of response from the Republicans, any positive response, and so far the reactions have been pretty negative, |
| 1:52.0 | they're going to pivot to trying to pass it with Democratic votes alone, and they have a very slim majority in both houses of Congress. |
... |
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