Oil price war, vaccines, banks on stimulus
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 3 April 2020
⏱️ 10 minutes
🧾️ Download transcript
Summary
Oil soared nearly 50 per cent at one point on Thursday in its biggest ever one-day rally after US president Donald Trump stoked hopes of a supply cut deal, German biotech groups are urging regulators to ease restrictions when it comes to testing a coronavirus vaccine, and bankers are raising doubts about whether the US government’s small business loan programme will begin today, as scheduled.
Plus, banks were admonished over their role in causing the 2008 financial crisis. The FT’s David Crow explains how banks can rehabilitate themselves in the coronavirus crisis by distributing unprecedented amounts of stimulus.
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Good morning from the Financial Times. |
| 0:02.0 | Today is Friday, April 3rd, and this is your FT news briefing. |
| 0:09.0 | Yesterday's US Jobless report told us that a record 6.6 million Americans filed for unemployment benefits |
| 0:15.1 | last week. That brings the total up to nearly 10 million in the past two weeks. |
| 0:19.5 | We also saw that 4 million French workers filed for temporary unemployment benefits in the same time period. |
| 0:26.0 | And today marks the planned launch of the US government's 350 billion dollar small business loan program. |
| 0:32.0 | But bankers are raising doubts about |
| 0:34.5 | whether it will begin on schedule. David Crow will have more on Banks new role in |
| 0:39.6 | this financial crisis. Meanwhile biotech groups are racing to find a vaccine and some of the leading voices are calling on |
| 0:46.7 | governments to ease clinical trial regulations. |
| 0:50.1 | But first, yesterday was a wild ride when it came to oil prices. |
| 0:53.6 | The F.T.'s Angela Rival explains why. |
| 0:56.5 | I'm Mark Filipino, and here's the news you need to start your day. |
| 1:00.3 | So oil prices on Thursday had the biggest ever intraday rally after US President |
| 1:11.5 | Donald Trump basically stoked hopes of a supply cut deal between Saudi Arabia and Russia to basically end a price war that has really hit the oil market, collapsed oil prices and obviously |
| 1:26.1 | this has come on top of an already big hit to demand because of the coronavirus outbreak. |
| 1:31.6 | There's this double whammy on the oil market right now. |
| 1:35.1 | And so when President Donald Trump |
| 1:37.8 | tweeted that, I expect and hope that these countries |
| 1:41.8 | will be cutting back production, and he even gave numbers, |
| 1:45.0 | 10 million barrels a day. |
| 1:46.6 | He then said it could be actually as much as 15 million barrels a day. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.