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Coronavirus and the new oil price war

How are banks dealing with the market chaos caused by coronavirus and the new oil price war? Also, Bob Diamond has appointed his flamboyant former right-hand man at Barclays, Rich Ricci, as chief executive of Panmure Gordon, the lossmaking UK stockbroker he bought two years ago. What are the two musketeers now up to? And we also hear from special guest Katie Murray, chief financial officer of RBS.


Contributors: Host, Matthew Vincent, regulation correspondent, Stephen Morris, European banking correspondent, Laura Noonan, US banking editor, and Nicolas Megaw, retail banking correspondent. Producers: Andrew Georgiades and Breen Turner.

 

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Behind the Money: Ford, GM and the corporate dash for cash

Behind the Money is a podcast from the Financial Times that takes listeners inside the business and financial stories of the moment, with reporting from FT journalists around the world. You can find Behind the Money wherever you get your podcasts, including FT.com/behindthemoney.


When credit markets seized up earlier in March, more than 130 companies rushed to their lenders to draw down at least $124bn of emergency credit lines to shore up cash, with Ford and General Motors drawing among the largest amounts. We look at how the auto industry is preparing for the economic uncertainty that lies ahead. With the FT's Peter Campbell and Gillian Tett.

 

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World’s worst humanitarian crisis deepens as coronavirus hits Yemen

UN official warns that war-ravaged country cannot deal with an outbreak of the disease




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The Arab medics battling coronavirus in Israel’s divided society

Community is politically marginalised but makes up one-fifth of doctors and a quarter of nurses




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Ramadan under coronavirus: ‘It will be bittersweet’

Most mosques shuttered and gatherings banned as Islamic world prepares for holy month




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Coronavirus deepens frustrations of young in Middle East

Pandemic stopped protests in Iraq, Algeria and Lebanon, but crisis likely to fuel fresh wave of unrest




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Coronavirus bursts the US college education bubble

Soaring fees, worthless degrees and dicey investments have hurt the economy




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How coronavirus broke America’s healthcare system

The US spends $3.6tn a year on health. Why does the pandemic threaten so many of its hospitals?




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For-profit US care homes ‘decimated’ by coronavirus

Rising number of low-paid staff are contracting Covid-19 or leaving posts as death toll mounts




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The record-breaking US economic recovery in charts

Longest expansion in modern American history is also the weakest




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Coronavirus: Dollar stores, Clorox make shortlist of stock winners amid rout — as it happened




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Global coronavirus death toll could be 60% higher than reported

Mortality statistics show 122,000 deaths in excess of normal levels across 14 countries analysed by the FT




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Loosening lockdowns: tracking governments’ changing coronavirus responses | Free to read

From business closures to movement restrictions, some countries’ policies show first signs of easing




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Coronavirus tracked: has your country’s epidemic peaked? | Free to read

Find any country in the customisable version of the Covid-19 trajectory charts




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How a Wuhan lab became embroiled in a global coronavirus blame game

Donald Trump’s claims that the Wuhan Institute of Virology was source of outbreak belie scientific evidence




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Coronavirus economic tracker: latest global fallout

Pandemic is causing the biggest disruption in decades to economies across the world




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EU draws criticism over consent to China censorship of coronavirus article

Beijing edits European opinion piece published in Chinese state-controlled media




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A Banksy in the boardroom: Peter Aspden on corporate collections

Businesses like buying contemporary art to show off their forward-thinking and investment savvy. Fair enough – but it still sits oddly with artists’ desire to provoke and subvert  


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African nations move swiftly to head off coronavirus spread

Fears over health systems prompt states to take early preventive measures




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What coronavirus will mean for Africa

The continent is facing an humanitarian and economic catastrophe, reports David Pilling




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Ethiopia postpones landmark national elections due to coronavirus

Social distancing curbs mean August vote cannot be held, says electoral commission




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France to reallocate Africa aid money for fight against coronavirus 

Macron also backs calls for debt relief as he seeks to be seen as champion of continent’s interests




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Campaign for clear pension charges, how the coronavirus has hit stock markets and coal fires

Join our campaign for clear pension charges - FT Money has been exploring the impossibility of comparing the costs of drawdown plans. The FT is calling on the pensions and advise industry to be transparent about charges to help people to shop around. In this week's show, FT Money Show presenter Claer Barrett interviews o the FT's pensions expert about our campaign. Next up, the spread of the coronavirus has given world stock markets a nasty turn - FT Moneys' new investment reporter, Madison Darbyshire, talks about how investors are reacting. And finally, to cheer listeners up a bit - James Max, our Rich People's Problems columnist is here to discuss a burning issue - the government's proposed ban on coal fires. 

 

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UK Budget, coronavirus planning and crashing stockmarkets

It's been a week of shock and awe for UK investors. Wednesday started with an emergency interest rate cut from the BoE. New chancellor Rishi Sunak then delivered a Budget full of emergency "first aid" measures to help workers, the self employed and small businesses survive the crisis - and some very unexpected news for wealthy pension savers. And in the meantime - stock markets around the world continue to experience deep falls as central banks work out how to respond to the coronavirus.

 

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Africa could take ‘a generation’ to recover from coronavirus, says Kagame 

Rwanda’s president says continent needs at least $100bn in foreign support to weather shock




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Coronavirus stalks world’s refugees as shutdowns disrupt aid

Plea for increased humanitarian help has gone unanswered and funding is set to be cut further




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South Africa’s mass screening helps stem the coronavirus tide

Use of community health workers to identify cases draws heavily on experience battling tuberculosis and HIV




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White House considers winding down coronavirus task force

Vice-president makes suggestion even as number of deaths across the country spikes




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Disney sets out $1.4bn hit from coronavirus crisis

Entertainment group scraps dividend as executives promise it will weather storm




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Coronavirus: Your questions answered as furlough scheme opens

Claer Barrett and Daniel Thomas hear readers’ experiences of accessing job retention scheme 




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France rules out coronavirus aid for tax-haven businesses

Finance minister also says companies cannot pay dividends while receiving government money 




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The top FT stories read by the legal world in the coronavirus lockdown

Litigation battles, fear turns to lawsuits, and a data security flaw




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Budget 2020: Coronavirus grants pensions Budget immunity 

But why didn’t the chancellor go the whole hog and scrap the tax taper altogether?




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Ebola co-discoverer Peter Piot on how to respond to the coronavirus

The ‘Mick Jagger of microbes’ on a life of fighting disease — and the severity of the current crisis




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Glencore defers $2.6bn dividend decision

Group seeks to ‘protect capital structure’ as uncertainty swirls over Covid-19 impact




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Glencore copper mine closure prompts Zambia dispute

African nation vows to block decision it rejects as unjustified and illegal




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Glencore’s Zambia CEO detained by authorities

Lusaka ups ante in dispute over shuttered copper mine




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Glencore cuts capex as coronavirus forces production curbs

Group has halted work at number of mines due to pandemic




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SoftBank warns of $9.6bn investment losses due to coronavirus

Pandemic puts more pressure on Masayoshi Son’s bet on beleaguered WeWork




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Venezuela faces threat of coronavirus catastrophe

Oil price collapse and crumbling health system put Latin American nation at risk




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Bolsonaro sparks political feud over coronavirus lockdowns

Flashpoint between Brazil’s populist leader and political establishment over response to virus




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Latin America’s left spots comeback opportunity amid coronavirus fallout

Region’s ‘Pink tide’ leaders see chance of revival as inequality and public health concerns take centre stage




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Brazil-China ties strained by social media war over coronavirus

Officials’ barbs come at a precarious time for Latin American country




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Chile’s coronavirus outbreak helps revive Piñera’s fortunes

Approval ratings for the billionaire president have more than doubled




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Election: Corbyn claims NHS ‘for sale’ under Tory plan for US trade pact — as it happened

Jeremy Corbyn unveiled 451 pages of leaked documents, which he claimed show details of trade talks between the UK and US. The Labour leader said the discussions included Washington's demand for providing access to the NHS for American healthcare companies.

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Election: Boris Johnson and Jeremy Corbyn face off in final TV debate — as it happened

Boris Johnson and Jeremy Corbyn spar in a televised debate just six days before the general election.

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Coronavirus latest: Japan stocks fall further after Wall St plummets

Tokyo’s Topix dropped 2.5% at the open, taking the benchmark index down more than 30% for the year. The move followed S&P 500 index's collapse of 12 per cent on Monday, marking the biggest one-day fall since the crash of October 1987.

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Coronavirus: New York death toll exceeds 20,000 — as it happened




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Wave of corporate defaults owes much to foolhardy share buybacks

Big investors must adopt a tougher stance on balance sheet resilience




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Coronavirus forces investor rethink on social issues

The ESG spotlight has turned to how companies treat their employees, customers and suppliers