Investors fear US virus toll, MLB virus scare, European bank earnings
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 28 July 2020
⏱️ 10 minutes
🧾️ Download transcript
Summary
Senate Republicans unveiled a White House-backed plan for $1tn in new stimulus that would cut emergency unemployment benefits by two-thirds, the dollar weakened to a two-year low on Monday as coronavirus flare-ups weighed on investor confidence and Major League Baseball contends with a fresh coronavirus outbreak. Plus, the FT’s banking editor, Stephen Morris, will explain what lies ahead for European banks when it comes to loan losses and dividends.
Republicans unveil $1tn stimulus plan cutting jobless benefits
https://www.ft.com/content/3c6d86e9-93b4-41af-9803-046940cedf99?
Dollar sinks to two-year low on concern over US virus toll
https://www.ft.com/content/9d9fa97c-154f-46fb-affd-51f45a0de08a
US baseball league postpones games after outbreak hits Miami team
https://www.ft.com/content/12b00810-5b8c-4df0-b22d-cabe898770a3
Banks across Europe braced for further heavy loan-loss charges
https://www.ft.com/content/d42d735a-9aa3-454e-955a-3e0b22eda03d
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Tuesday, July 28th, and this is your FT news briefing. |
| 0:09.0 | Republicans have finally introduced their latest stimulus bill, but not before the value of the US dollar and |
| 0:14.3 | the value of gold went in opposite directions yesterday. |
| 0:18.2 | What does an outbreak in Major League Baseball mean for the future of sports. |
| 0:22.8 | Plus, with European bank earnings this week, |
| 0:25.2 | we'll have the latest on loan loss provisions and dividends. |
| 0:28.8 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:33.0 | As federal benefits are about to run out for millions of unemployed Americans, |
| 0:39.0 | Senate Republicans unveiled their $1 trillion stimulus package yesterday. |
| 0:43.4 | Under their plan, federal unemployment benefits would continue, |
| 0:46.6 | but be cut by two-thirds down to $200 a week starting in September. |
| 0:51.5 | Once October hits, workers would receive 70% of previous wages. |
| 0:55.8 | And the U.S. Treasury would once again send $1,200 directly to most Americans, |
| 1:01.3 | just like it did earlier in the year. |
| 1:04.0 | Democrats want to start negotiations on the stimulus bill immediately. |
| 1:07.7 | Economists worry that if a deal doesn't get done quickly, it'll stunt the U.S. recovery. And in in markets we're starting to see how |
| 1:14.6 | coronavirus is shaking investor confidence. Our US markets reporter Colby |
| 1:19.3 | Smith has more. If cases are surging in the US, it's likely to mean that a lot of the reopening |
| 1:25.6 | plans that we're helping to lift growth forecasts just a few weeks ago really could be taking |
| 1:31.9 | a turn for the worse here as states and cities have to |
| 1:35.0 | slow down those plans and the same is not necessarily true in other countries I mean |
| 1:40.1 | they've been able to proceed with their reopening |
... |
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