FT News Briefing Financial Times

US equities closed in correction territory on Thursday on coronavirus concerns, while Saudi Arabia is asking its Opec allies to agree to a substantial cut in oil production to deal with crippling demand. Plus, a report from Beijing on how China is trying to get its factories back to work, and the FT’s Gillian Tett unpacks how the outbreak is affecting the global economy.   For information regarding your data privacy, visit acast.com/privacy

Donald Trump sought to defuse criticism of his handling of the coronavirus and predicted stock markets would be booming again, while investors are betting that central banks will respond to the financial fallout from the outbreak with stimulus, and Microsoft has warned that supply chain disruption due to the virus will cause the company to miss its revenue guidance for its Windows and Surface products. Plus, Walmart is exploring the sale of a stake in the UK supermarket chain Asda.  For information regarding your data privacy, visit acast.com/privacy

A fresh wave of selling pressure rippled across global markets on Tuesday as public health officials warned Americans to prepare for the spread of the coronavirus, Bob Iger has stepped down as chief executive of Walt Disney a year after extending his contract, and Virgin Galactic shares fall after the space tourism company reports that losses widened in the fourth quarter. Plus, there has been a wave of leadership change at European banks in the past few months. The FT’s David Crow explains why the lenders are scrambling to find a new generation of chief executives.  For information regarding your data privacy, visit acast.com/privacy

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. For information regarding your data privacy, visit acast.com/privacy

Barclays is preparing to start a search for a new chief executive to replace Jes Staley, European buyout firm CVC Capital Partners is plotting an ambitious reshaping of one of the world’s most popular sports - rugby, and Italy has imposed a strict quarantine across at least 10 towns to contain the largest outbreak of coronavirus outside of Asia.  Plus, the FT’s Benjamin Parkin previews Donald Trump’s visit to India. For information regarding your data privacy, visit acast.com/privacy

EU leaders are deadlocked over how to finance the bloc’s next multi-annual budget, a judge handed down a 40 year sentence to Roger Stone on Thursday, saying the Republican political operative was prosecuted for covering up for President Donald Trump, and the luxury industry faces its biggest threat since the 2008 financial crisis with the coronavirus outbreak. Plus, wealthy Arab states have been pouring money into football as part of their effort to diversify the oil-dependent economies. But that money has caught the attention of one of football’s main governing bodies. The FT’s sports correspondent, Murad Ahmed, explains.  For information regarding your data privacy, visit acast.com/privacy