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The Gulf oil money flowing into sport

Arab Gulf leaders have been splashing out on sport. Officials in the Gulf states say the investment is part of their effort to diversify oil-dependent economies, but critics accuse them of using sport to deflect attention from poor human rights records. Arash Massoudi discusses the impact of the oil money flowing into football and other sports with Murad Ahmed, sports correspondent, and Andrew England, Middle East editor. Sign up to join Arash and Murad at next month’s FT Business of Football Summit here 


Contributors: Arash Massoudi, corporate finance and deals editor, Murad Ahmed, sports correspondent, and Andrew England, Middle East editor. Producer: Fiona Symon

 

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Is Trump abusing his power over the judiciary?

The sentencing of Trump ally and political strategist Roger Stone was mired in controversy after the US president criticised a juror and the original prosecutors in the case. The same week, Donald Trump granted clemency to seven white collar criminals. Does the president have too much power over the judicial system? Brooke Masters discusses with Edward Luce and Kadhim Shubber.


Contributors: Brooke Masters, opinion and analysis editor, Edward Luce, US national editor and columnist and Kadhim Shubber, US Legal and enforcement correspondent. Producers: Fiona Symon and Persis Love.

 

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Secrets of the South Pole

Antarctica is barely accessible to humans but the ice-covered landmass - and the oceans around it - shelter rich wildlife, including many penguins. It also holds the keys for understanding the future of our planet, which is why scientific research into the isolated continent is stepping up. But as human activity encroaches, do we need to do more to protect Antarctica? Clive Cookson, FT science editor, talks to Leslie Hook, environment correspondent, about her recent trip to the region. Read Leslie's article here


Contributors: Clive Cookson, science editor, and Leslie Hook, environment correspondent. Producer: Fiona Symon

 

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Persecution of China's Uighur Muslims exposed

Growing a beard, praying in public and calling someone overseas. These are some of the 'offences' for which Uighur Muslims have been sent to internment camps in the Xinjiang region of China, according to a leaked document known as the Karakax list. Adrienne Klasa talks to the FT reporters who discovered the document, Christian Shepherd and Laura Pitel. Read the FT story here


Contributors: Adrienne Klasa, creative producer, Christian Shepherd, Beijing correspondent, and Laura Pitel, Turkey correspondent. Producers: Persis Love and Fiona Symon

 

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Introducing the FT News Briefing: Fed cuts to zero, airport pinch, hand sanitiser sale

Introducing the FT News Briefing. It is a rundown of the global business stories you need to know for the coming day, from the newsroom of the Financial Times. If you enjoy it, subscribe to the FT News Briefing wherever you get your podcasts, or listen at FT.com/newsbriefing.


Monday, March 16

The Federal Reserve cut interest rates to zero and joined forces with other central banks in a bid to prevent a severe economic downturn caused by the coronavirus outbreak. The FT’s Gillian Tett unpacks the sweeping measures. Plus, the rapid spread of the coronavirus and the ensuing travel restrictions have led to one of the worst months on record for the airport industry, and French industrials group Air Liquide is asking would-be buyers of its hand sanitiser unit to offer a higher sum in the wake of the outbreak. 

 

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Argentina bondholders snub ‘disproportionate’ debt offer

Biggest creditors attack government’s proposal to restructure $65bn of foreign debt




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Dozens of existing drugs being tested as possible virus treatments

Research paper published in journal Nature identifies number of alternative treatments




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Call to overhaul plasma rules to speed up potential virus therapy

Industry highlights bottlenecks in access to materials that are a possible Covid-19 treatment




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Will poor countries get the treatments they need?

Pharma and its critics agree government has a big role to play in ensuring fair access to Covid-19 remedies




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US solar industry powers ahead as investors back batteries

Fund managers and energy-hungry tech companies bankroll ‘solar-plus-storage’ projects




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PG&E posts $3.6bn quarterly loss after wildfire settlement

California utility discloses $5bn pre-tax charge tied to claims




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Trump appointees vote to block US coal joint venture

Shares in Peabody Energy and Arch Coal fall sharply after regulatory action




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Drax to end use of coal at UK’s biggest power plant 3 years early

Group says 230 jobs will be lost at Selby site at it looks to beat 2025 fossil fuel deadline




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The political debate on US energy is not connected to reality

American producers are coming under pressure on several fronts




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China’s Belt and Road power grids keep security critics awake

As Beijing connects the region, the Philippines weighs ‘shutdown’ risk




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Energy: how Texas learned to love solar power

A boom in projects across the Permian Basin comes amid coronavirus fears and a global oil price war 




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ScottishPower breaks ranks on energy bailout calls

Supplier says sector should be ‘back of the queue’ for additional government support




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EDF poised to lodge Sizewell C nuclear plant application   

Suffolk residents cry foul as French group seeks to continue process despite lockdown  




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Colony Capital reveals $3.2bn default on portfolio company loans

Trump ally Tom Barrack’s investment group in talks with lenders over hotel and nursing home debt




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Investors turn bearish on the pound

Short bets rise to highest level of 2020 over Brexit and Covid-19 concerns




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Policy response determines plenty

Mike Mackenzie’s daily analysis of what’s moving global markets




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UK pound slips more than 1% in first two trading days of May

Sterling under pressure from US-China angst and renewed Brexit concerns




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Swiss National Bank’s swollen balance-sheet poses risk to ‘credibility’

Analysts fear unintended consequences of central bank’s vast foreign-currency holdings




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Facebook’s Libra appoints Bush-era terrorism finance tsar as first chief

Stuart Levey, known for tough enforcement of sanctions on Iran, will head digital currency project




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Global economy is at risk from monetary policy black hole

Governments should borrow more to stave off secular stagnation




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Why universities deserve special financial support

Higher education should not be treated as just another business




po

Corporate bailouts should come with strings

Business cannot expect emergency cash without sensible conditions




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The dangers of cramped coronavirus hotspots

Singapore’s second wave of infections and US meat packers offer cautionary tales




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Even in a pandemic, politicians must decide

Being ‘guided by the science’ does not mean hiding behind it




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How to help the poorest through the lockdowns

Near-unconditional cash transfers are the most efficient form of relief




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Boeing: air support

US aircraft maker can get along fine without any bailouts




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FCA researchers outline $5bn ‘tax’ imposed by high-speed trading

Paper released by UK regulators homes in on tactic known as latency arbitrage




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European regulator takes another shot at ‘dark pools’

Watchdog also offers concession on post-Brexit share trading




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Motorsport watches roar into pole position

Timepieces linked with F1 and other races have increased by up to 40 times since 2010




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Do global businesses have too much power?

Despite public anger, corporate regulation is likely to remain fragmented




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Inside LBC: the radio station capturing the political zeitgeist

In a polarised time, the broadcaster has won listeners by embracing confrontation




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ArcelorMittal: metal polish

Destocking is at an end and global consumption is expected to rise this year




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Rio weighs closure of Icelandic smelter as it struggles with power costs

ISAL facility remains unprofitable as aluminium producers face weaker demand and prices




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London Gatwick under a cloud as carriers threaten to quit airport

Virgin Atlantic could be followed by British Airways in abandoning UK’s second-biggest gateway




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Heathrow’s third runway project now ‘impossible’, says IAG chief

Willie Walsh points out that expansion plans face bigger challenges due to coronavirus impact




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UK Budget can slay the pessimism that fed populism

If stimulus is well targeted, Boris Johnson’s government may achieve something of elegance




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South Africa to impose its biggest rolling power blackouts

Eskom will remove 6,000 megawatts of demand to avert total collapse of national grid




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South Africa’s miners shut down by power cuts

State utility Eskom removed power to stave off grid collapse




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Portuguese banker named in dos Santos probe found dead

Suspected suicide comes as Angolan billionaire indicted for money laundering




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South African miners applaud move to cut reliance on Eskom power

Pretoria has waived rules that prevented mining groups generating electricity for their own use




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US stocks close up 3.4% in positive start to week

S&P 500 records fourth gain in five sessions, despite new leg down for oil prices




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Japan’s corporate cash-hoarders have moment in sun

Virus’s swift and unforgiving economic effect may silence activists




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Coronavirus: Pence aide tests positive for Covid-19 — as it happened




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UK quarantine plan poses fresh setback for aviation sector

Airlines and airports say 14-day isolation period would be a ‘death blow’ to industry




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Axa criticises regulatory confusion over dividend policy

Chief executive Thomas Buberl says different guidance between countries ‘difficult to accept’