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FT News Briefing

Monday, March 2

FT News Briefing

Forhecz Topher

Daily News, News & Politics, News

4.41.3K Ratings

🗓️ 2 March 2020

⏱️ 10 minutes

🧾️ Download transcript

Summary

Disruptions caused by the coronavirus are driving the global economy closer to a recession and triggering calls for fiscal and monetary intervention, activist hedge fund Elliott Management is pushing for big changes at Twitter after taking a $1bn stake, and the US state of Wyoming is in talks to buy millions of acres of land from Occidental Petroleum. Plus, if Bernie Sanders is elected US president, his policies have the potential to radically change the US financial system. The FT’s Robert Armstrong explains how Wall Street is weighing up the idea of a socialist in the White House. 

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Transcript

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0:00.0

Good morning from the newsroom of the Financial Times.

0:02.4

Today is Monday, March 2nd.

0:04.4

And this is your FT news briefing.

0:07.8

Economists say disruptions caused by the coronavirus outbreak

0:11.2

are driving the global economy closer to a recession and

0:14.8

policymakers are under pressure to respond.

0:18.0

Plus Jack Dorsey's role as Twitter Chief Executive is under threat and the U.S. State of Wyoming is in talks with

0:24.0

Occidental petroleum over a land purchase, the likes of which haven't been seen

0:28.0

since the 19th century. Plus Pete Buda judge dropped out of the Democratic presidential race on Sunday night after a poor showing in South Carolina.

0:37.0

Heading into Super Tuesday, when 14 states will vote, one party candidate is still leading in the polls.

0:43.0

The F.T.'s Rob Armstrong will tell us how Wall Street is weighing up the idea of Bernie Sanders in the White House.

0:49.0

I'm Mark Filipino, and here's the news you need to start your day.

0:55.0

Research consultancy capital economics has cut its growth forecast for the global economy

1:01.0

by 0.4 percentage points, bringing it to 2.5% for the

1:05.0

head of the global economy by 0.5% for the year.

1:06.0

The head of research at the firm said that if the outbreak becomes a global pandemic

1:10.0

and some are already calling it that,

1:12.0

the effects could be as bad as 2009,

1:14.5

when world GDP fell by half a percent.

1:17.5

So what are policy makers to do?

1:20.0

Some are arguing that the coronavirus is a supply shock to the economy.

1:24.0

Workers are being asked to stay home and they're not producing their regular output.

...

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