Election results so far

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Joe Biden won Michigan, flipped his second state in the industrial Midwest, and placed the former vice president within six presidential votes.

Michigan was one of three “blue wall” democratic strongholds that President Donald Trump narrowly won in 2016. A second of the three, Wisconsin, has already called for Mr. Biden, while Pennsylvania remains too close to call him. Here are Biden and Trump’s remaining avenues to victory.

Speaking in Delaware on Wednesday afternoon, Joe Biden did not declare himself the winner, but said he was very confident that when all the votes were counted he would emerge the winner.

In the wee hours of Wednesday morning, Donald Trump said he would go to the Supreme Court to secure his re-election and open up the possibility of a lengthy litigation over the final outcome. The president falsely claimed victory at a press conference, saying, “We want all voting to stop. We don’t want them to find ballots at four in the morning and add them to the list. “

Joe Biden’s campaign manager Jen O’Malley Dillon hit back on Trump’s threat to go to the Supreme Court, calling it “outrageous, unprecedented and false”. The social media groups Twitter and Facebook were drawn into the controversy.

The lack of the expected Democratic “blue wave” from the White House and Congress on election night has boosted government bonds and the stocks of large US tech stocks, led by Facebook – as Chris Nuttall points out in #techFT. Investors grappling with a delayed and stressful process to determine the future political makeup of Washington are doing so with an unusual attitude.

Line chart of 10-year government bond yield (%) showing investors fall into US Treasuries in equilibrium elections

Stay tuned with the FT’s live coverage and results page updated with the latest decisions and a calculator for the contestants’ possible paths to victory. (FT)

Election summary

Protesters hold “Count Every Vote” during a rally to protect the results in Washington, DC. © Bloomberg

As the Democrats’ hope to regain control the US Senate As did hopes for another round of large federal spending to revitalize the US economy, as election results pointed to a continuation of the divided government.

US oil and gas Inventories increased while those of renewable energy producers decreased over the course of the census.

Even with no fixed results, we have a good idea of ​​what Biden or Trump would mean US climate policy and ESG invest. Billy Nauman from Moral Money explains.

How will the US presidential election affect you? Let us know at [email protected] FT readers have told us so far.

“Most of the votes were cast in more than a century! An extraordinary moment for American democracy. Seems like the public wants to be heard. Perhaps we have got used to instant responses with low turnout. Maybe we prefer to speculate when patience is required. Maybe. “- Glen Markham

These graphs show how the U.S. economy performed under Trump and identify some of the winners and losers over the past four years.

The financial services industry is the best job performance of the Trump era

Coronavirus digest

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In the news

Beijing said it halted Ant’s IPO to protect market stability The order to prevent Ant from launching a record-breaking public offering in Hong Kong and Shanghai two days in advance of trading is likely to come from the top of the Chinese government, possibly President Xi Jinping, according to people familiar with the situation. (FT)

Mr. Ma was summoned by the regulators after criticizing China’s state-dominated banking sector at a public forum

Taiwan receives US drones to expose China’s invasion The US has cleared the sale of four sophisticated drones to Taiwan to help Taipei identify Chinese preparations for an attack. Meanwhile, India is giving Myanmar a submarine in what many analysts see as an attempt by New Delhi to counter China’s influence in the region. (FT, NAR)

The US is officially withdrawing from the Paris Climate Agreement Two and a half years after President Donald Trump announced plans to pull out of the world’s most ambitious environmental pact, the US officially withdrew from the Paris Agreement. If Democrat Joe Biden becomes president, he has announced that he will rejoin the agreement on his first day in office. (FT)

The Brazilian President’s son is charged with corruption Investigators in Rio de Janeiro later accused Flávio Bolsonaro, a senator and son of President Jair Bolsonaro, of embezzlement, money laundering and criminal association in a development that threatens to embroil the right-wing president in a scandal after a period of political calm. (FT)

Jair Bolsonaro, center right, with his son Flávio in May last year © REUTERS

The Ethiopian Prime Minister sends troops to quell the rebellion Fighting began in Ethiopia’s northern Tigray region after Prime Minister Abiy Ahmed dispatched federal troops to quell an uprising that threatens to bring Africa’s second most populous country to the brink of civil war. (FT)

“Substantial Evidence” Alzheimer’s Drug is Effective Biogen has taken a significant step closer to gaining approval for the first new Alzheimer’s drug in the US in decades after officials at the country’s regulator said there was “substantial evidence” that it was effective, adding to the market value of the Company by $ 15 billion. (FT)

The day ahead

England will be banned England goes into national lockdown on Thursday, joining other parts of the UK and many other European countries in taking tougher measures to curb the spread of Covid-19.

BoE meetingThe Bank of England announced its policy decision on Thursday following a meeting that will see the final lockdown announcement play a major role over the weekend. (FT)

What else are we reading?

A divided electorate means trouble for the US economy The country emerges from surveys that are unwilling and unable to face challenges that threaten this and future generations, writes Mohamed El-Erian. Edward Luce writes that the American people have spoken. And it’s a cacophonic sound. (FT)

Lessons from Ant’s rocky road The meteoric rise of the Ant Group shows us how companies thrive and are constrained by their markets, writes John Thornhill. The dramatic last-minute suspension of listing by the Shanghai Stock Exchange shows both how capitalist China has become and how communist it remains. What’s next for the world’s largest fintech? (FT, SCMP)

How can big tech best tackle conspiracy theories? It’s about more than separating dangerous theories from less dangerous ones, writes Gillian Tett. Researchers note that those who are deeply in the grip of a conspiracy mentality need different approaches compared to those who might otherwise be persuaded. But fake news is as old as news itself, says Michael Peel. (FT)

© Shonagh Rae

US action against Vietnam baffles Hanoi While the world is excited about the US presidential election, Trade Secrets reports from the other side of the world in Bangkok as Thailand and Vietnam have become Donald Trump’s first – and possibly last – target of US punitive trade in recent weeks – Term of office of the President. Sign up for the newsletter here. (FT)

We can avert irreversible climate change Another presidency for Donald Trump is nowhere more serious than for climate change. The coming decades will decide whether the risk of harmful and irreversible change is averted or not, writes Martin Wolf. Ethical investing is about morals, not markets, says Jonathan Ford. (FT)

“Action is both important and affordable – but it requires the collaboration of international leaders” © James Ferguson

The absence of a liberal landslide in the US After an economic and health shock, four years of grueling drama and impeachment proceedings, Americans have emphatically rejected neither Donald Trump nor Trumpism, writes Janan Ganesh. Even if he loses to Joe Biden, that will be the central lesson from the US election for an observing world. The only clear loser in this election: polls. (FT, Atlantic)

Amazon gold rush Rainforest swaths have been destroyed when illegal miners poured into the Amazon again. But unlike the previous gold rush of the 1980s, they bring with them new heavy machinery and financial expertise, as well as violence and organized crime, as the coronavirus pandemic drives gold prices soaring. (FT)

Map with Amazon Rainforest, Para State and Maicuru Biological Reserve

Podcast of the day

Rachman Review: An American Divide The state of the US election results means the country could face days or weeks of political uncertainty. In this particular early episode, Gideon Rachman talks to Jeremy Shapiro, a former U.S. State Department official and current European Council Research Director on Foreign Relations, about the findings so far, why Trumpism won’t go away, and more.

From the sequence:

“Enough votes will be counted by Friday or Saturday to determine a winner. The question is whether the courts will intervene before or after this process to contest a particular state that makes a difference, ”Shapiro said.

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