Markets rise on White House transition, France taxes US tech giants, bank dividends
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 25 November 2020
⏱️ 10 minutes
🧾️ Download transcript
Summary
US stocks surged to new highs on Tuesday, alongside global equities, as the path for a smooth transition of power in the US cleared, French tax authorities have begun demanding millions of euros in extra tax from US tech giants, and an ECB executive says that eurozone banks could be allowed to pay dividends again if their balance sheets are in order. Plus, the FT’s Robin Harding explains why Japanese stamps are getting in the way of the country’s digitisation efforts.
US stocks set record high as investors look to new administration
https://www.ft.com/content/433048a5-c489-4ddd-aebd-d56fb8f3edfc
US tech companies get digital tax demands from French authorities
ft.com/content/2cfe3d07-7e69-4f57-b634-8b6002f967cb
ECB to lift ban on bank dividends next year if balance sheets strong enough
ft.com/content/62c9e91e-ce88-41cb-aa23-de67687cdeef?edit=true
Japan to ditch ‘hanko’ seal in drive to digitise bureaucracy
https://www.ft.com/content/e05b0e61-1aa6-4e96-822b-538f1a33d806
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:01.8 | Today is Wednesday, November 25th. |
| 0:04.3 | And this is your FT news briefing. |
| 0:08.8 | Investors show their support for a smooth White House transition. |
| 0:12.4 | The European Central Bank might have some good |
| 0:14.2 | news in store for bank investors come 2021, and France officially goes after big American |
| 0:19.8 | tech companies. Plus, we'll explain what's getting in the way of Japan's efforts to go digital. |
| 0:24.4 | I'm Mark Filipino, and here's the news you need to start your day. The Dow Jones Industrial Average hit a record high on Tuesday. The S&P 500 didn't do too bad either. It closed up a little more than |
| 0:45.2 | one and a half percent on the day. Why? Well, it seems that the dust is finally beginning |
| 0:50.4 | to settle after the wild few weeks following the US presidential election. |
| 0:54.3 | I'm joined by our US markets reporter Colby Smith. Colby, why were investors so upbeat yesterday? |
| 1:00.2 | I think it was a combination of a few factors here. I mean as you mentioned |
| 1:04.5 | Donald Trump's decision to allow for the presidential transition to begin after |
| 1:09.2 | weeks of delay certainly helped to boost sentiment quite a bit. |
| 1:13.0 | And at the same time, we had some pretty important developments |
| 1:16.3 | on the vaccine front with another breakthrough again this week. |
| 1:20.1 | So I think that coupled with the fact |
| 1:22.3 | that we have also some cabinet picks from the |
| 1:24.7 | Biden administration coming through has really helped to kind of clear the path for |
| 1:28.8 | investors to see a further boost to risk assets from here. Right, and one of those cabinet announcements was Janet Yellen, who's expected to be |
| 1:36.6 | tapped for U.S. Treasury Secretary. |
| 1:40.0 | Why could this be considered good news for investors? |
... |
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