Us president donald trump has abruptly broken off talks with congressional democrats on a new economic stimulus package until after next months presidential election.
Nancy pelosi is asking for $2.4 trilliondollarsto bailout poorly run, high crime, democrat states, money that is in no wayrelated to covid-19. we made a very generous offer of $1.6 trillion dollars and, as usual, she is not negotiating in good faith, mr trump wrote in a tweet on tuesday.
I am rejecting their...request, and looking to the future of our country. i have instructed my representatives tostop negotiating until after the election when, immediately afteri win,we will pass amajorstimulus bill that focuses on hardworking americans and small business, he added. the news caused a sharp reversal in the us stock markets, which fell into the red after the tweet.
Mr trump left the walter reed medical centre monday evening to return to the white house, where he has continued to play down the impact of his infection, a move thats disappointed some of his advisers. meanwhile, the virus has continued to spread through the trump administration, with several of the pentagons top officers, including mark milley, the chairman of the joint chiefs of staff, entering quarantine after the coast guards no. 2 officer tested positive. (ft, politico)
Us market turbulence ahead of election the us yield curve has steepened sharply as investors weigh the prospects of a democratic victory in the upcoming us election and the potential of more aggressive fiscal policy. meanwhile, fund managers are searching for new ways to insulate their portfolios from a stock market sell-off in a uniquely turbulent election campaign. (ft)
Australia plans for record deficit in pandemic budget government officials unveiled an annual budget for the year that started on july 1 that would create a record a$214bn deficit in the current fiscal year. the plan includes measures to cut income taxes, and stimulate job growth and business investment. (ap)
Exclusive: samsung coal finance under firethe south korean group is facing criticism from investors and environmentalists after data provided to the ft showed itsinsurance units financed $14bnof coal projects and investments. (ft)
Us-uk trade talksa transatlantic trade deal, lauded as one of thegreat prizes for post-brexit britain, remains unrealised after nearly eight months and four rounds of negotiations. it has been stymied by coronavirus, washingtons divisive politics and boris johnsons threat to rewrite his brexit divorce treaty. (ft)
Bridgewater settles suit filed by former co-chief executive eileen murray, the former co-chief executive of bridgewater associates, has reached a settlement with the hedge fund after filing a lawsuit alleging it tried to silence her voice in a gender discrimination dispute. (ft)
Hong kong bar beseeches foreign judgesthe bar association has appealed to foreign judges not toabandon the territorys highest courtin the wake of beijings national security law, warning that their absence threatened the legal systems international credibility. (ft)
Black hole discoveries win nobel physics prize half of the skr10m ($1.1m) award goes to roger penrose, the veteran oxford cosmologist, for his theoretical discovery in 1965 that black holes really can exist. the other half is shared by astronomers reinhard genzel of germany and andrea ghez of the united states. (ft)
Unrest in kyrgyzstanopposition groups claimed tohave seized powerafter protesters broke into the parliament building in the capital bishkek, in the wake of sundays parliamentary elections they say were rigged. demonstrators also freedformer president almazbek atambayev, whose party said it had overthrown the criminal government. (ft)
Federal reserves fomc minutes investors will be expecting some clarity from the minutes of the us central banks mid-september meeting on monetary policy, which will be published on wednesday. (ft) oracle and google go to the supreme court the hearing on googles appeal in oracles copyright case is set for wednesday. the multibillion-dollar lawsuit, which has run since 2010, accuses google of having illegally copied code from oracle-owned java to create its android mobile operating system. (ft)
Join us online for the ft women at the top summit on october 7-8 to learn from individuals driving progress on gender equality and to find out which strategies and policies really work.speakers include activist and model adwoa aboah; olympic gold medallist jessica ennis-hill; facebook vp for emea nicola mendelsohn; professor and author richard susskind; and mp jess phillips. register for your tickethere.
A new cold war: the great uncouplingdonald trumps push to decouple the us economy from china and pandemic disruption are forcingmanufacturers to rethinktheir reliance on beijing, putting supply chains at the centre of a geopolitical tussle. read more in ourft series: the new cold war. (ft)
Callous response to a violent rape sparks national outrage as india is shaken by another grim sexual assault and murder, this time of a 19-year-old woman from the bottom of hinduisms caste hierarchy, the crimes aftermath highlights accusations that the ruling party is suppressing bad news and silencing those who challenge its narrative, writes amy kazmin. (ft)
Facebook needs to be more paranoid about qanon in may, the social networking group casually invited fts hannah murphy to join a conspiracy cult that believes the world is controlled by a satan-worshipping, baby-eating, deep-state coterie and can only be saved by donaldtrump. short-sightedness from silicon valley has allowed extremist thinking to flourish, hannah writes. (ft)
Maoist downing street faces revolutionover decades, uk mps have slowly given ground to the executive. but a haughty team in downing street could inspire parliament to shift the balance,robert shrimsley writes. britains famouspenchant for rule abidingis falling short on coronavirus restrictions why? (ft, nyt)
Can oil majors survive backlash against fossil fuels?a colossal transformation of the worlds energy system is under way andoil majors must decidewhether they can remain last man standingor pivot towards clean energy. more in our special report:the energy transition. sign up to our twice-weekly energy source newsletter here. (ft)
A better era for working women the pandemic has been tough on women, writes sarah oconnor. but it also presents a chance to fix problems that have long gone unaddressed. this would be in everyones interests. the fate of the economy depends on it. (ft)
How independent should a vp be?vice-presidential debates are usually afterthoughts, but wednesdays contest between mike pence and kamala harris bears a deeper hint: novembers winner will be theoldest american president in history, writes jared cohen, author ofaccidental presidents: eight men who changed america. (ft)
Takumi timedecried as the death knell ofhaute horlogeriewith the introduction of the worlds first commercial quartz timepiece in 1969,japanese watchmakersare finally enjoying a well-deserved moment in the sun. (ft)
How can i get started as an investor?in a new podcast series claer barrett, consumer editor, talks to listener naureen, a 37-year-old londoner who has been saving money under lockdown andwants to start investingin the stock market following a wake-up call about her retirement income. (ft)
If you would like to talk to claer for a future episode, please email the money clinic team with a short description of your problem.
Correction: yesterday, we incorrectly referred to muhyiddin yassin as indonesias prime minister. he is malaysias prime minister.