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FT News Briefing

Tuesday, February 25

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.41.3K Ratings

🗓️ 25 February 2020

⏱️ 10 minutes

🧾️ Download transcript

Summary

Global stocks had their worst day in two years on Monday as new coronavirus cases outside China dashed hopes that the outbreak had been contained, US energy stocks are now underperforming the main US stock market index by the biggest margin since 1941, disgraced film producer Harvey Weinstein was found guilty by a jury in New York of sex crimes including rape, and HP announced a $16bn buyback plan as it claims to be engaging with printer rival Xerox in deal talks.

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Transcript

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0:00.0

Good morning from the newsroom of the Financial Times.

0:02.6

Today is Tuesday, February 25th,

0:05.2

and this is your FT news briefing.

0:07.5

Harvey Weinstein has been found guilty of rape by a New York jury

0:11.6

but acquitted of the most serious charges against him.

0:14.0

U.S. energy stocks are performing at a low not seen in nearly 80 years,

0:19.0

and H.P. has announced plans for a $16 billion buyback program as it claims to be engaging with its much

0:26.0

smaller rival Xerox and Deal Talks. But first, with the coronavirus spreading further beyond

0:32.2

China's borders,

0:33.3

the fear of slowing growth hit global stocks on Monday.

0:37.1

The F.T.'s Colby Smith will explain.

0:39.9

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

0:45.0

It was a pretty rough day for U.S. investors and global investors more broadly, so U.S. stocks are

0:52.2

their worst day in about two years and at the same

0:54.6

time you had US treasuries and other safe haven assets doing quite well in

0:59.2

response to fears that the outbreak the coronavirus outbreak was spreading beyond China here.

1:05.0

So for instance the US 10-year benchmark Treasury fell actually to its lowest level since 2016 and it's just a few basis points shy of its all-time

1:15.9

record low and that's a massive move just in in recent weeks really since the

1:21.0

beginning of the year we've seen yields fall quite

1:23.7

dramatically so this is just a continuation of that trend and an escalation

1:27.4

really and at the same time you have the yield curve which tracks the difference

1:31.0

between short-term yields and long-term yields in the

...

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