G20 nears funding boost for low-income countries, Amazon online pharmacy, FSB report
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 18 November 2020
⏱️ 9 minutes
🧾️ Download transcript
Summary
Saudi Arabia’s finance minister says the world’s richest countries are close to unlocking additional IMF funds for low-income nations, Amazon has launched an online delivery service offering big discounts for prescription medicine in the US, and Unilever is aiming to increase its annual sales of plant-based meat and dairy alternatives to €1bn in five to seven years. Plus, the FT’s US markets reporter, Colby Smith, explains why the Financial Stability Board is pinning hedge funds with some of the blame for the US Treasury market chaos in March.
G20 nearing IMF funding boost for developing nations, Saudi minister says
ft.com/content/f211194f-5c19-4ab1-b47f-a4d6caa88f36?
Amazon launches online pharmacy in challenge to traditional retailers
https://www.ft.com/content/f45c4956-108f-4b69-b115-c73cfc55f0e3
Unilever aims for €1bn sales from plant-based products by 2027
ft.com/content/0a1e5e3d-a34d-44bb-a350-75f3e8700673?
Hedge funds under scrutiny over role in March bond market ructions
https://www.ft.com/content/5bab4156-54fd-41ab-b067-794c3050c8cd
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:02.0 | Today is Wednesday, November 18th, |
| 0:04.0 | and this is your FT News briefing. |
| 0:08.0 | More financial help could be on the way |
| 0:10.0 | for some of the world's poorest countries. |
| 0:12.0 | Amazon jumps into the online pharmaceutical market. way for some of the world's poorest countries. |
| 0:12.5 | Amazon jumps into the online pharmaceutical market and Unilever is pushing hard on a plant-based |
| 0:17.7 | sales goal. |
| 0:18.7 | Plus, a new report says hedge funds added to the chaos in the U.S. Treasury market during the early days of the pandemic. |
| 0:25.2 | We'll explain how. I'm Mark Filipino and here's the news you need to start your day. |
| 0:40.0 | Saudi Arabia is hosting the annual G20 summit this weekend. We use the word hosting loosely because everything will be virtual. |
| 0:43.7 | Now, semantics aside, the F.T spoke to Saudi Arabia's finance minister Mohammed Al-Jadden. |
| 0:49.1 | His country holds the G20 presidency this year and he said more help could be headed to low-income nations |
| 0:54.8 | whose economies have been hit hard by the pandemic. |
| 0:58.1 | Jaden said he was optimistic that the group of nations and the IMF could agree on a new |
| 1:02.2 | allocation of the |
| 1:03.1 | funds special drawing rights soon. Now these special drawing rights that are |
| 1:07.4 | known as SDRs for short are an international reserve asset given to IMF |
| 1:12.2 | members in proportion to their share of the global economy. |
| 1:15.0 | They can be used for cash injections to countries with diminishing foreign exchange reserves. |
| 1:20.0 | The IMF doled out 270 billion dollars worth of SDRs during the 2008 financial crisis. |
| 1:26.0 | The head of the IMF, Krista Georgieva, has been pushing for low-income countries to get a piece of this |
... |
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