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FT News Briefing

Brussels’s EU budget warning, Macron complicates Brexit deal, the ‘everything’ market rally

FT News Briefing

Forhecz Topher

News, News & Politics, Daily News

4.41.3K Ratings

🗓️ 4 December 2020

⏱️ 10 minutes

🧾️ Download transcript

Summary

EU budget commissioner Johannes Hanes has warned Poland and Hungary that Brussels could cut them out of its recovery fund, British officials accused France of making new Brexit demands at the eleventh hour on Thursday, and Boeing clinched its first firm order for the 737 Max since the aircraft was grounded 20 months ago. Plus, the FT’s global financial correspondent, Robin Wigglesworth, explains what has been fuelling the rally in global equities and whether it can be stopped.


Brussels warns Poland and Hungary they cannot stop EU recovery fund

ft.com/content/50d9731d-c5cd-4fa7-9626-7a0f2f2d62d8


Tough Macron stance leaves Brexit deal hanging in balance 

ft.com/content/7a679982-abef-4f9a-8a55-e06588e7b770


Boeing clinches first firm order for 737 Max since aircraft’s grounding

https://www.ft.com/content/2c32696e-56fc-43a5-b3d4-49daa169bcbd


The ‘everything rally’: vaccines prompt wave of market exuberance

ft.com/content/d785632d-d9a0-45ae-ae57-7b98bb2fb8d6


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Transcript

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0:00.0

Good morning from the Financial Times. Today is Friday, December 4th. And this is your

0:05.8

F.T. News briefing. The Budget Commissioner of the EU says Brussels could go ahead

0:12.2

with its coronavirus recovery fund

0:14.0

with or without Hungary in Poland.

0:16.0

The UK accuses Emmanuel Macron of throwing a last-minute curveball

0:20.0

into Brexit deal talks,

0:21.0

and Boeing finally nets in order for its 737 max jet.

0:25.1

Plus global equities markets have been on a tear over the past few months.

0:29.7

We'll ask our global financial correspondent whether the rally can be stopped.

0:33.4

I'm Mark Filipino and here's the news you need to start your day.

0:37.4

For the past few weeks Hungary and Poland have insisted the EU's rule of law push is unfair.

0:47.0

Leaders of the countries are upset about one mechanism in particular, they say targets their countries.

0:52.0

It lets the EU suspend funding to member states. in particular they say targets their countries.

0:52.8

It lets the EU suspend funding to member states where the bloc's values have been threatened.

0:57.8

Hungary and Poland have been against this rule so much that they've threatened to veto Brussels

1:02.0

nearly 2 trillion euro budget in the

1:04.4

EU's coronavirus recovery package. But the EU's Budget Commissioner has a

1:08.6

message for Poland and Hungary. The block could move on without you.

1:13.0

Johannes Han told the F.T.

1:15.0

that EU lawyers have found a way to get around Warsaw, Budapest,

1:18.0

and their objections to EU spending plans.

1:21.0

And what's more, Han said the block could cut the two countries out of the

...

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