Covid vaccine lifts stocks, Nikola’s legal bills pile up, India takes aim at Google
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 10 November 2020
⏱️ 8 minutes
🧾️ Download transcript
Summary
A breakthrough in the race to find a vaccine for Covid-19 fuelled a broad global equity rally on Monday. The FT’s Joe Miller explains what this means for managing the pandemic. Plus, India’s competition watchdog has ordered an in-depth investigation into the tight links between Google’s mobile app store and its payment service, and electric truck start-up Nikola has acknowledged for the first time that it is under investigation by the US Department of Justice in the wake of fraud allegations.
Pfizer and BioNTech’s Covid-19 vaccine found to be 90% effective
https://www.ft.com/content/9bde4bff-acf0-4c2a-a0d0-5ed597186496
Nikola reveals escalating legal bill after fraud claims
https://www.ft.com/content/51c9de3f-7e08-4740-8a50-4f301d8ca9ae
India’s competition watchdog orders Google investigation
https://www.ft.com/content/f0709021-0fdb-4f0a-a85e-c807ab364ebe
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:01.8 | Today is Tuesday, November 10th. |
| 0:04.0 | And this is your F.T. news briefing. |
| 0:09.0 | Hopes of an effective coronavirus vaccine |
| 0:11.2 | sent equities skyrocketing yesterday. But even if a vaccine gets |
| 0:15.2 | approved, how quickly could it be distributed? Plus another investigation into |
| 0:19.7 | whether Google's squeezing out competitors and Nicola acknowledges a US investigation |
| 0:24.5 | into the electric truck company. |
| 0:26.6 | I'm Mark Filipino and here's the news you need to start your day. It's a breakthrough in the race to find a coronavirus vaccine. |
| 0:40.0 | U.S. Pharmaceutical company, Pfizer, and Germany's biointec said their vaccine was more than 90% |
| 0:45.8 | effective in a late stage trial. If drug authorities gave it the green light, the shot could |
| 0:50.4 | be available by the end of the year. The news swept through asset markets that had already been rising high on |
| 0:56.2 | optimism over Joe Biden's victory in the US election and sent shares in |
| 1:00.1 | airlines, hotels, and aerospace soaring. All in all the S&P 500 finished up a little more |
| 1:06.3 | than 1%. The yield on the 10-year US Treasury leapt about a tenth of a percent |
| 1:10.5 | to its highest point since March. |
| 1:13.0 | But will this optimism translate into some real results |
| 1:15.9 | when it comes to the pandemic? |
| 1:17.7 | Joe Miller, our Frankfurt correspondent, |
| 1:19.4 | is with me on the line to talk about the vaccine. |
| 1:21.7 | Joe, tell us about the latest phase three trial. |
| 1:24.8 | How many people took part in it and what did we learn |
... |
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