Democrats support US stimulus plan, China invests in US tech, reaction to UK vaccine approval
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 3 December 2020
⏱️ 11 minutes
🧾️ Download transcript
Summary
Top Democrats have expressed support for a $908bn stimulus plan offered by a bipartisan group of US senators, the UK has become the first country to approve a Covid-19 vaccine, and Chinese state-backed funds are still scouring the US for investments in critical technologies despite stiffer restrictions on such deals. Plus, the FT’s West Africa correspondent, Neil Munshi, explains why Nigeria’s richest residents are investing heavily in Africa’s biggest economy.
Top Democrats signal willingness to compromise on stimulus
https://www.ft.com/content/8787eb59-642e-4a93-af5b-59f13afa3e6d
UK set for Covid vaccinations ‘next week’ after regulatory approval
https://www.ft.com/content/c60f49c1-34c8-4cd0-b295-87f35c70bc04
Chinese state-backed funds invest in US tech despite Washington curbs
ft.com/content/745abeca-561d-484d-acd9-ad1caedf9e9e
Nigeria’s richest plough money into Africa’s biggest economy
https://www.ft.com/content/c5b98699-a5bb-49b2-8436-4a7edf314b87
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Thursday, December 3rd. And this is your FT news briefing. |
| 0:08.8 | Top US lawmakers are inching closer to a stimulus package. The UK becomes the first country to greenlight |
| 0:14.7 | a coronavirus vaccine, and China keeps investing |
| 0:17.8 | in American tech companies despite tensions |
| 0:20.1 | with the White House. |
| 0:21.6 | Plus Nigeria is now in its second recession in five years and |
| 0:25.2 | investment from outside the country is shrinking. Can homegrown investors |
| 0:29.6 | pick up the slack? We'll take a look. I'm Mark, and here's the news you need to start your day. |
| 0:37.0 | A bipartisan group of U.S. Senators proposed a $908 billion stimulus package on Tuesday. |
| 0:46.0 | And yesterday it started to gain momentum. |
| 0:49.0 | Top Democrats said they were behind the plan. |
| 0:51.0 | It's much lower than the three trillion dollar package the Democratic |
| 0:54.3 | controlled House of Representatives offered in the spring and the two trillion dollar package |
| 0:59.1 | the House submitted earlier in autumn. |
| 1:01.7 | But still, Democratic Speaker of the House Nancy Pelosi and Senate |
| 1:04.9 | minority leader Chuck Schumer gave the nine hundred and eight billion dollar package |
| 1:08.7 | their blessing. President-elect Joe Biden also supported the deal but said that any package in Donald Trump's lame duck session would only be a down payment. |
| 1:18.0 | Biden says his team is working on proposals that he'll submit to Congress once he's inaugurated next month. |
| 1:24.0 | Separately, Republican Senate Majority Leader Mitch McConnell had privately circulated a new |
| 1:28.6 | stimulus plan this week to the tune of about $300 billion, but because of its small size, the plan isn't expected |
| 1:35.4 | to get off the ground. |
| 1:37.9 | The UK yesterday became the first country to approve a COVID-19 vaccine. |
... |
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