Wednesday, March 11
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 11 March 2020
⏱️ 10 minutes
🧾️ Download transcript
Summary
Joe Biden cemented his lead as the frontrunner in the Democratic presidential race, winning several states including the battleground of Michigan. Plus, airlines cancel flights, withdraw earnings guidance and implement austerity measures to cope with the travel slump caused by the coronavirus outbreak, and the head of the International Energy Agency warns Russia and Saudi Arabia risk hurting efforts to stop the spread of coronavirus if they insist on continuing an oil price war. Then, the FT’s Chris Giles explains how the UK budget, to be unveiled today, is expected to set some money aside to deal with the outbreak.
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Transcript
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| 0:00.0 | Good morning from the newsroom of the Financial Times. |
| 0:02.5 | Today is Wednesday, March 11th, |
| 0:04.8 | and this is your FT news briefing. |
| 0:07.1 | Joe Biden cemented his lead in the race for the Democratic presidential |
| 0:11.5 | nomination last night. Airlines are preparing for the Democratic presidential nomination last night. |
| 0:13.0 | Airlines are preparing for the financial fallout from the coronavirus to get worse before it gets better. |
| 0:19.0 | And the head of the International Energy Agency calls Russia and Saudi Arabia's price war irresponsible. |
| 0:25.0 | Plus the F.T.'s Chris Giles tells us what to watch for as the UK |
| 0:29.4 | unveils its first budget since 2018. I'm Mark Filipino and here's the news you need to start your day. |
| 0:36.4 | Joe Biden won Michigan and at least two other states during last night's Democratic primary |
| 0:44.3 | elections and in the process the former US Vice President extended his lead in the |
| 0:49.0 | race against Vermont Senator Bernie Sanders. Michigan is considered a key battleground in the American Midwest. |
| 0:56.0 | Mr Sanders carried the state in the 2016 Democratic primary when he faced off against |
| 1:00.3 | Hillary Clinton only for her to be narrowly beaten there by Donald Trump. |
| 1:04.4 | Mr. Biden also won the states of Mississippi and Missouri last night. |
| 1:08.8 | Votes in Washington, Idaho, and North Dakota were still being counted as we recorded today's episode. |
| 1:19.2 | The spread of the coronavirus has caused travel demand to crumble. That's hitting airlines particularly hard. |
| 1:26.1 | The International Air Transport Association says the outbreak could reduce global passenger revenue |
| 1:30.8 | by as much as $113 billion. |
| 1:34.1 | And this has sent the airline industry into nothing short of a crisis. |
| 1:38.2 | On Tuesday, a trio of U.S.-based airlines, Delta, American, and United United all pulled back their 2020 financial forecasts. |
| 1:45.8 | United expects revenue to drop as much as 70% in April end of May. |
... |
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