Good morning from the Financial Times.

Today is Wednesday, August 26th,

and this is your FT news briefing.

European drug companies don't want to be liable

if something goes wrong with a coronavirus vaccine.

And Americans are taking advantage of all-time low mortgage rates,

which means good things for home builder stocks.

Plus, Jack Ma's Ant Group might raise a record amount of money in its initial public offering.

So why isn't it listing in the US?

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

Drugmakers around the world are racing to develop a coronavirus vaccine,

but some are worried about the backlash if something goes wrong.

The FT reports the European Pharmaceutical Industries Vaccine Lobby is pushing the EU for liability protections.

It would give drugmakers exemptions if there are problems with any new coronavirus vaccines.

That's according to people with knowledge of the discussions and an internal memo seen by

FT journalists. The lobby is called Vaccines Europe. They represent big names like AstraZeneca, Glaxosmith Klein, and Pfizer.

Drugmakers are racing to get vaccines out the door and with that speed comes risks.

They said so in the memo.

And so the lobby wants an exemption from civil liability.

The European Commission told the F.T. that it was making provisions for all the EU's member

states to compensate vaccine companies for high risks.

Now, it's too early to know if the pandemic will lead to permanent changes in how and where we live, but

...