FirstFT: Immediately’s high tales

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Donald Trump called for vote counting to be halted in a number of swing states because the US waited for outcomes from a handful of battlegrounds that can determine the presidential election.

As of Thursday, Democratic challenger Joe Biden was inside six electoral school votes of victory whereas Mr Trump’s skinny lead in two swing states, Georgia and Pennsylvania, seemed to be narrowing.

Joe Biden stated he had “no doubt” his marketing campaign had received the 2020 US presidential election, however urged the American public to “keep calm” whereas the remaining votes had been being counted.

In the meantime, the Trump marketing campaign has pressed ahead with a multi-state legal challenge to the outcomes with blended success up to now. The marketing campaign introduced instances in Pennsylvania, Michigan and Georgia, and stated it will achieve this in Nevada as effectively.

 Election results so far

Authorities throughout the US are preparing for more protests after demonstrators took to the streets on Wednesday evening in cities together with Chicago, Denver, Los Angeles, Minneapolis, New York, Philadelphia, Pittsburgh, Seattle and Washington DC.

In Arizona, dozens of Trump supporters, together with some carrying weapons, demonstrated exterior a counting centre on Wednesday night. Related Press, which the Monetary Occasions depends on for election knowledge, and Fox Information have known as the state for Mr Biden, however different US networks have determined it is too close to call.

Wall Avenue shares rallied and the dollar weakened as ballots continued to be counted.

Keep updated with the FT’s results page, up to date with the newest choices and our stay protection here.

Election round-up

Trump supporters gathered in entrance of the Maricopa County election centre to protest towards early ends in Arizona that pointed to a win for Joe Biden © Reuters

Joe Biden made coronavirus a centrepiece of his marketing campaign, but it surely’s change into clear that voters did not overwhelmingly repudiate Donald Trump’s dealing with of the pandemic.

Mr Trump’s relative weak point within the rustbelt indicators that protectionist insurance policies weren’t a political panacea for him, James Politi writes in Trade Secrets.

A Stanford College legislation professor discovered that almost all of Mr Trump’s authorized challenges towards the outcomes seem like “ill-founded and ill-fated”. (FT)

Mr Biden’s marketing campaign is dealing with questions on what went wrong in Florida’s Latino neighborhood, for whom fears of socialism and cultural conservatism overcame outrage over the president’s insults, writes John Paul Rathbone

Chart showing that in key states, Trump made his biggest gains in Hispanic communities

Gig economic system corporations reminiscent of Uber and Lyft got a mandate from California voters to remake labour laws throughout the US. It’s a loss not just for employees but in addition for good policymaking, writes our editorial board.

Washington DC and Oregon decriminalised an ingredient in psychedelic mushrooms, a primary within the nation that despatched shares in biotech corporations greater on Wednesday. New Jersey, Arizona, Montana and South Dakota legalised recreational cannabis. (FT, BuzzFeed)

Coronavirus digest

Observe our coronavirus tracker for the newest, and discover extra protection at ft.com/coronavirus.

Within the information

Ant Group IPO faces six-month delay Ant Group’s preliminary public providing could possibly be delayed by a minimum of six months and its valuation sharply diminished after Beijing abruptly halted its buying and selling debut this week, individuals directly involved in the deal stated. Our Big Read examines why Beijing has moved to rein in Jack Ma. Alibaba, which holds a 33 per cent stake in Ant, beat third-quarterly revenue estimates on Thursday. (FT, Reuters)

Fed retains financial coverage regular The Federal Reserve has stored monetary policy steady with rates of interest at all-time low and no modifications to its bond purchases, as its high officers met with the ultimate final result of the US election nonetheless unsure. (FT)

Saudi Arabia media group to make play for sports activities occasions Saudi Arabia has launched a state-controlled sports media company to handle and safe broadcasting rights in a transfer that can shake up the multibillion-dollar bidding wars for the best to televise elite sporting occasions within the Center East. (FT)

Kosovo president resigns over battle crimes indictments Hashim Thaci quit on Thursday after studying that battle crimes costs towards him had been confirmed by the Kosovo battle crimes tribunal in The Hague. (FT)

Hashim Thaci: ‘To defend the integrity of the Kosovo presidency . . . I resign from the place of Kosovo president’ © Stringer/EPA-EFE/Shutterstock

ByteDance seeks $180bn valuation TikTok’s mother or father firm is reportedly in talks to raise $2bn, which might increase its valuation to $180bn, forward of itemizing a few of its companies in Hong Kong because it concurrently seeks to close down a ban on TikTok within the US. (Bloomberg)

Brexit divide persists EU and UK negotiators will attempt to hammer out a commerce deal subsequent week, with each side warning that very serious divergences remain. The following few days will probably be important in deciding whether or not they actually do desire a deal, Peter Foster writes in our Brexit Briefing. (FT)

The times forward

Malaysia’s PM presents first funds Prime minister Muhyiddin Yassin is set to present his first budget on Friday. It comes at a important time for the chief who’s dealing with an opposition problem and dissent inside his personal coalition. (Reuters)

Myanmar election Aung San Suu Kyi’s Nationwide League for Democracy will search a brand new five-year mandate within the nation’s election on November 8. She is widely expected to win. The election has been criticised as undemocratic. (FT, Economist)

Aung San Suu Kyi casts an advance vote at a polling station in Naypyidaw forward of the November 8 common election. © AFP through Getty Photographs

Thai pro-democracy protests Activists in Thailand are anticipated on Sunday to assemble to petition King Maha Vajiralongkorn after rejecting parliament’s plan to kind a committee to ease the political tensions. (Straits Occasions)

What else we’re studying

Japan’s classes for the world on ESG The world can study from Japan’s follow of Gapponshugi, or moral capitalism, writes Jim McCafferty of Nomura. For westerners centered on ESG investing, Japan gives a mannequin for shareholders who coexist with different stakeholders. (FT)

Biden dangers being lame duck The lesson from Tuesday’s document turnout and the persevering with vote counts is that America is bitterly, energetically and virtually evenly divided, writes Edward Luce. A President Biden would at greatest have an equivocal mandate. The query is what he may do with it. (FT)

China shapes a brand new US financial period Regardless of who wins the US presidency, the nation is poised to bolster home industries deemed important to nationwide safety and international standing. It’s a bipartisan shift away from freer markets being driven by China’s ascent. (Politico)

A divided America The economic system can not absolutely get better till a national technique will get the virus beneath management. It should be Joe Biden’s first activity ought to he enter the White Home, writes former Democratic senator Heidi Heitkamp. Former Republican congressman Charlie Dent says Individuals’ vote indicators they want moderation. (FT)

© Ingram Pinn

Chinese language censors management the celluloid world, too Like a lot else in China, films have change into more and more topic to the ever tighter grip of the Communist occasion beneath Xi Jinping, writes Henny Sender. (FT)

VW chief battles to maintain electrical dream alive As European governments fight a resurgent pandemic, Herbert Diess, Volkswagen chief government, is combating his personal battle: to make the world’s largest carmaker an electric heavyweight — and guarantee its electrical future is a profitable one. (FT)

Bar chart of Global electric car sales, year to Sep  (000 units)* showing VW aims to steal Tesla's crown

Ranting would possibly effectively be the balm the world wants Although ranting tends to have detrimental connotations, mouthing off is nice for us, writes Jemima Kelly. If it will probably convey bodily and psychological well being advantages, possibly we must always all indulge slightly extra — now, within the midst of a pandemic, greater than ever? (FT)

Video of the day

How markets are reacting to the early outcomes The FT’s Robert Armstrong analyses the market’s response to early outcomes from the US election, and explains why the “blue wave” reflation commerce is off the desk, financial institution shares are down and tech shares are up.

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