Good morning from the Financial Times. Today is Thursday, March 4th, and this is your FT News Briefing.

President Joe Biden makes a key concession in his nearly $2 trillion COVID relief bill.

Plus, today we're taking a close look at a financial company that became a giant in the world of supply chain finance.

Now, green cell capital is preparing to file for insolvency in the UK where it's based.

And it's subsidiary bank in Germany is the subject of a criminal complaint by financial regulators there.

Also, credit suites has frozen $10 billion worth of funds linked to green cell.

We'll have the FT's capital markets correspondent Rob Smith help chronicle the company's unraveling.

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

Democrats are okay with giving out fewer stimulus checks to American households.

The checks are part of President Joe Biden's $1.9 trillion relief bill that the House of Representatives passed last week.

But there's still a lot of wrangling going on in the Senate.

And on Wednesday, the Biden administration and top Senate Democrats caved a pressure to put even more limits on who gets the $1,400 relief checks.

Some moderate Democrats and Republicans called for tougher restrictions.

So now, any individual making more than $80,000 and any couples earning over $150,000 will not qualify for the checks.

If it passes, this would be the third round of stimulus checks going out to Americans since the pandemic began.

A sprawling financial company called green cell capital yesterday said it's preparing to file for insolvency protection in the UK.

And its subsidiary bank was the subject of a criminal complaint filed by Germany's financial watchdog Baffin, the charges suspected balance sheet manipulation.

So let's back up. Here's what green cell does.

It specializes in something called supply chain financing.

This is where a financial institution like green cell agrees to pay the bills that a company owes to its suppliers.

Green cell arranges this type of funding, either through a bank or by packaging these supplier bills into bond-like investments for its partner bank credit suites.

The empty capital markets correspondent Robert Smith has been covering this complex corner of financial markets for a while.

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