FirstFT: As we speak’s high tales


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Greater than 60m ballots have already been cast within the US presidential election, pointing to huge turnout regardless of fears that Covid-19 would dampen participation.

Early voting is on observe to surpass the complete 2016 poll depend in some states: in Texas, 7.4m folks have already voted, equal to greater than 80 per cent of the full 4 years in the past.

Democrats have inspired early voting over considerations of crowded polling stations amid the pandemic, as have Republicans, although their name has been difficult by Mr Trump’s repeated and baseless assaults on mail-in voting. The Supreme Courtroom dominated on Monday that Wisconsin could only count ballots acquired by election day.

Most of Mr Trump’s paths to victory run through Pennsylvania, a swing state that helped ship his 2016 triumph. Right here’s a have a look at voters in Pinellas County, Florida, one other bellwether. Mr Biden is outraising Mr Trump in a number of the wealthiest districts.

The FT View is that, with the character of US democracy on the poll, the selection between Donald Trump and Joe Biden “shouldn’t be arduous”. (FT, CNN, NYT)

Line chart showing how Trump and Biden are doing in the US national polls

Mr Biden has a national lead of 8.5 percentage points, based on an FT evaluation of polling averages from RealClearPolitics.

Coronavirus digest

  • Rishi Sunak and Gavin Williamson, schooling secretary, are locked in acrimony over food vouchers for deprived kids. Non-public fairness has been accused of “cashing in” on state-backed loans.

  • US hospitalisations are surging, resulting in a scarcity of medical employees. Stocks dropped, with the S&P 500 down as a lot as 2.9 per cent.

  • Israel’s finance ministry civil servants say billions in pandemic aid is getting used to serve Benjamin Netanyahu’s coalition as a substitute of supporting the financial system.

  • Mexico will host human trials of seven Covid-19 vaccines to strengthen ties with pharmaceutical corporations forward of a possible race for doses.

  • Specialists have warned that children should not be given a vaccine till there’s extra knowledge to make sure its security. (FT)

A rising minority within the UK are consuming virtually no Covid-19 news and don’t belief the knowledge they obtain. Comply with our live coverage.

Within the information

Barrett confirmed to Supreme Courtroom Amy Coney Barrett has been confirmed by the US Senate, with only one Republican crossing the aisle to vote towards Donald Trump’s third Supreme Courtroom justice. Her affirmation cements the court docket’s 6-3 conservative majority forward of attainable election-related instances. (FT, WaPo)

Amy Coney Barrett was sworn in at a ceremony on Monday night time on the White Home, the place an occasion saying her nomination a month in the past led to a Covid-19 outbreak © AFP by way of Getty Pictures

HSBC beats forecasts The financial institution stated it might consider paying a 2020 dividend after reporting a 36 per cent year-on-year drop in pre-tax income to $3.1bn that handily beat evaluation forecasts. Chief govt Noel Quinn referred to as the outcomes “promising”. (FT)

Unique: VW chief says no stimulus wanted Volkswagen chief govt Herbert Diess has argued that there’s “no need” for more stimulus for the auto trade until there’s a second lockdown or additional financial turmoil, after it loved a stronger-than-expected gross sales restoration in western Europe and China. (FT)

EU backs Nigeria’s WTO candidate Ambassadors from the EU’s 27 member states confirmed that they may again Ngozi Okonjo-Iweala as the subsequent director-general of the World Commerce Group. The EU in the meantime will hold off on imposing punitive tariffs towards the US within the dispute over subsidies for Boeing and Airbus. (FT)

Ms Okonjo-Iweala, a former finance minister, faces South Korea’s commerce minister Yoo Myung-hee. A winner is predicted to be declared early subsequent month © AFP by way of Getty Pictures

Ant Group IPO to boost $34bn Ant Group is ready to raise more than $34bn in a twin flotation throughout Shanghai and Hong Kong subsequent month, placing it on observe to high Saudi Aramco as the largest ever market itemizing. The attention-popping flotation is priced to go, our Lex column writes. Lengthy-term buyers ought to ask why. (FT)

Goldman accused of sexual misconduct cover-up Goldman Sachs lined up allegations of sexual misconduct towards its most senior litigator and fired a feminine lawyer for elevating considerations about his behaviour, a lawsuit claimed. (FT)

England planning shake-up Boris Johnson’s bold planning shake-up, which he hopes will assist 2m folks purchase houses, may have the perverse impact of stalling housebuilding for a number of years, trade consultants have warned. (FT)

Chart shows number of homes per year (’000) showing a government algorithm could mean more housebuilding in southern England

Britain’s black interns Credit score Suisse, PwC and Linklaters are among the many first organisations to enroll to a marketing campaign to supply paid work expertise to 10,000 black graduate interns over the subsequent 5 years. (FT)

The day forward

Earnings Microsoft kicks off earnings season for tech corporations on Tuesday. Additionally of be aware: Santander, Mediobanca, Invesco, Novartis and oil major BP. (FT)

US-India defence pact The US and India are anticipated to signal a army settlement on satellite data on Tuesday. A US-brokered truce between Armenia and Azerbaijan broke down inside minutes on Monday. (WSJ, FT)

Rolls-Royce vote Shareholders will vote on Tuesday on a £2bn deeply discounted rights concern, which might unlock a lot wanted liquidity because the aerospace group prepares to shut factories, scale back working hours and lower advantages. (FT)

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What else we’re studying

Macron’s bother in Africa In 2017, Emmanuel Macron declared the end of “Françafrique”, France’s exertion of affect over its former African colonies. Three years on, his reset has run into the sand, with French troops slowed down combating Islamist terror within the Sahel and its diplomats embroiled in fractious politics. (FT)

Safety and political challenges hinder the president’s efforts to overtake its ‘Françafrique’ technique © FT montage / Reuters

Biden would save the Tories from themselves The British PM has motive to worry a doubtlessly unfriendly face within the White Home. However Donald Trump’s re-election would encourage the Conservatives’ worst instincts, Robert Shrimsley writes. (FT)

China’s triumphalism is untimely As China’s management meets this week, its capacity to brazenly debate the nation’s issues is hampered by the thought-stifling cult of persona round Xi Jinping, Gideon Rachman writes. A Falun Gong-backed newspaper has constructed a pro-Trump, anti-China rightwing media machine. (FT, NYT)

A cult of persona round Xi Jinping threatens unhealthy authorities in its wake © James Ferguson

Milton Keynes finds its second When you have been planning a town to withstand a pandemic, it may be Milton Keynes, conceived within the Nineteen Sixties as overspill from London. “We’re the place we’re for a motive,” stated Peter Marland, its Labour council chief. (FT)

US-China widespread floor Financial services have offered a uncommon constructive entrance in Sino-US relations, as Beijing makes an attempt to hurry up market reforms and entice overseas capital. In Africa, China is the biggest bilateral lender, however the pandemic has revealed its fragmented lending. (FT)

Bar chart of Repayments on bilateral debt due this year ($bn) showing China is the dominant bilateral lender in sub-Saharan Africa

Sit back concerning the moon Final week, Nasa overestimated an announcement concerning the moon that turned out to be evidence of water. It’s a vital, however not earth-shattering, discovery — right here’s why. (Atlantic)

The place to eat in Knightsbridge Wonders of wonders — it’s attainable to dine effectively and (comparatively) inexpensively in considered one of London’s most moneyed districts, the place a parking house prices greater than the nationwide common for a three-bedroom home. Here are FT Globetrotter’s picks. (FT)

The Mantl, owned by aeronautical engineer Serdar Demir, has refined a template for upscale Turkish cooking

Meet our journalists: Edward Luce

Edward Luce is the US nationwide editor and columnist on the FT. He co-writes Swamp Notes, a biweekly e-newsletter on cash and energy in Trump’s America, with Rana Foroohar (sign up here). Ed was previously the Washington and South Asia bureau chief and is the writer of three books, together with The Retreat of Western Liberalism. Add Ed to your myFT here.

What’s an fascinating truth about you? Early into my profession on the FT, I left to work for a 12 months as a speech author to then-US treasury secretary Larry Summers. It was an odd and considerably daunting job for a foreigner immediately to show up and do — however immensely edifying.

Inform us about Swamp Notes: It’s chatty, lightly-edited and Rana and I come on the world from both ends of the Acela hall (Washington and New York). Most of all, we’ve got complementary pursuits and fulfilling chemistry (nurtured frequently throughout Covid with Zoom cocktails). It’s enjoyable to do and, hopefully, that exhibits.

What piece of recommendation have you ever acquired that you just nonetheless take into consideration? Nothing is ever pretty much as good or as unhealthy because it appears (a saying all journalists ought to take to coronary heart).

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