Cyber ​​security experts are trying to determine the extent of the damage caused by the breach, which has lasted for months

FirstFT: Today’s Top Stories | Financial Times

The US Federal Reserve has announced that it will continue to buy at least $ 120 billion in debt until “significant further progress” is made in the recovery, which reinforces its support for the US economy amid rising coronavirus infections.

At the end of a two-day meeting, Fed officials improved their economic outlooks but stuck to projections that they would keep interest rates near zero until at least the end of 2023.

In a delicate balancing act, Fed chairman Jay Powell strongly halted purchases of central bank assets, but instituted guidelines keeping them in place for an extended period of time – while maintaining his cautious qualifications and a sense of the Fed’s being in Fight remains reassuring investors in the long run.

The near-term economic outlook has deteriorated due to new coronavirus swings, which has led some economists and investors to call for a major new easing move from the Fed.

However, the picture for later in 2021 and the central bank’s forecasts have improved amid the better vaccination prospects, suggesting that stronger action was not needed.

Coronavirus digest

  • The US More coronavirus deaths were recorded on Wednesday than any other day during the pandemic. A healthcare worker in Alaska was allergic to the Pfizer / BioNTech bump. Mike Pence plans to get his vaccine on camera on Friday. Retail sales in the US fell the most in seven months in November. (FT)

  • French President Emmanuel Macron has tested positive for Covid-19. (FT)

  • The WHO 10 international scientists will travel to Wuhan next month to investigate the origins of Covid-19.

  • Ranieri Guerra, a senior WHO Italian official, has denied interfering in the release of a report highlighting weaknesses in Italy’s early response.

  • SwedenThe king said the Scandinavian country had failed with its coronavirus strategy, resulting in a far higher death toll from the pandemic than its neighbors. (FT)

  • New Zealand secured enough Covid-19 vaccines to cover the population with purchases from AstraZeneca and Novavax. The Covid policy of “going hard and early” is reaping economic rewards. (FT)

The G20 cannot afford to exclude the world’s lower-income countries from the economic recovery, writes former British Prime Minister Gordon Brown. Follow our live coronavirus blog for the latest information.

Video: How the coronavirus rocked the Indian economy

In the news

US authorities warn of ongoing cyber attacks US intelligence and security agencies have warned that the cyber attack on government and businesses that became public over the weekend was a “significant and ongoing cyber security campaign” as Washington sought to determine the extent of the damage. The incident is a wake-up call for government and business that there is no such thing as perfect security, writes the FT editorial team. (FT)

Cyber ​​security experts are trying to determine the extent of the damage caused by the breach, which has lasted for months. © Arek

PE companies sold SolarWinds shares before the hack warning Private equity investors sold a $ 315 million stake in SolarWinds to one of their longtime financiers just before the US issued an emergency warning about a “national” hack of one of the software company’s products. (FT)

Google is accused of talking to Facebook about the advertising market A group of 10 Republican-led US states has accused Google of abusing its monopoly over parts of the online advertising market and partnering with Facebook to foreclose competing advertising exchanges. Google’s UK-based artificial intelligence unit, DeepMind, shed half a billion pounds last year, and parent company Alphabet wrote off an additional £ 1.1 billion in debt. (FT)

Exclusive: JPMorgan lost the bid for Eaton Vance Jamie Dimon’s JPMorgan Chase lost in the $ 7 billion bidding war against Morgan Stanley to buy US investment manager Eaton Vance. This reveal underscores the fierce competition between Wall Street powerhouses to strengthen their wealth management arms. (FT)

JPMorgan CEO Jamie Dimon: ‘My management is open to asset management. . . Call me ‘© Bloomberg

USA declares currency manipulators for Switzerland and Vietnam The move from the U.S. Treasury Department escalated tensions with the two countries in the dwindling days of the Trump administration. Washington could take punitive action if “bilateral engagement” fails to address its concerns, even after the dollar itself has fallen to more than two year lows. (FT)

Hopes for Brexit trade deal raised Ursula von der Leyen, President of the European Commission, told MPs on Wednesday that “there is now a way to an agreement,” albeit a narrow one. The pound sterling hit its highest level in more than two years on the same day on optimism about a deal: here’s why. British companies store imported products and raw materials in the event of border congestion. (FT)

Boris Johnson told MPs on Wednesday that there was “every hope, every opportunity” to sign a trade deal with Brussels © AFP through Getty Images

Robinhood is facing legal action for “gamifying” investments The Massachusetts Securities Commission has taken legal action against the online trading app. It accused it of “gamifying” investments, claiming the company had not put in place adequate controls to protect inexperienced investors. (FT)

The affair with Juan Carlos strengthens the republican campaign of the Spanish minister Spanish consumer minister Alberto Garzón, a vocal Republican, says ex-King Juan Carlos’ recent attempts to regulate business with the country’s tax authorities are evidence of past corruption. (FT)

Alberto Garzón speaks to King Felipe VI. As “Citizen Borbón”, a reference to the family name of the ruling Spanish house of Bourbon © Getty Images

the following days

FDA discusses Moderna’s Covid vaccine The US Food and Drug Administration should discuss whether a Covid-19 vaccine developed by Moderna should be approved. (FT)

UK Covid restrictions The government is expected to review the level assignments for local authorities in England and provide updated guidance on Thursday. The decentralized government of Northern Ireland will also consider new measures to combat the increasing infections. (FT)

Central banks The Bank of England will announce a policy for the last time this year. The Bank of Japan will begin a two-day interest rate review after announcing it will buy $ 6 billion from the country’s national foreign exchange reserves in an effort to add US currency holdings. (FT, Japan Times)

Merits FedEx reports profit. An increase in consumer spending and an increase in online shopping should work well. (FT)

Putin press conference Russia’s President Vladimir Putin will hold his annual marathon press conference. (FT)

What else are we reading?

MindGeek: the owner of Pornhub and RedTube In the internet age, porn is everywhere. However, very little is known about the new group of operators whose pockets are fringed by insatiable demand. No company exemplifies this as much as MindGeek – the owners of Pornhub, RedTube, and YouPorn – whose identity was a secret prior to this FT investigation. (FT)

Pornography pioneered the global online advertising industry such as targeted advertising, pay-per-click and email marketing, and is now an integral part of the internet economy. © Dreamstime / FT montage

The challenges of 2020 coverage FT columnist Simon Kuper assesses the methods, prejudices and blind spots he brought to his commentary of 2020 – the “most dystopian and utopian” time he has lived: “Readers rightly cast me prejudices against Trump and Brexit in front. Both movements violate my cosmopolitan instinct. “(FT)

Biden’s climate picks show the influence of progressives US President-elect Joe Biden’s decision to appoint two staunch environmentalists to the top climate and energy jobs underscores the urgency of his mission to combat global warming and the influence of the progressive wing of the Democratic Party. (FT)

Are you looking for lost office rituals – or do you prefer the new normal? When Covid-19 broke out, many workers were forced to adapt to working from home. Some changes will survive the pandemic; others may come to symbolize this turbulent moment. What do you think should change forever? Join the discussion in the comments section of this article. (FT)

That turbulent year forced workers to weigh the objects and routines of workplaces against distant equivalents. © FT assembly; Getty Images

Podcast of the day

The best and the worst of 2020 Gideon Rachman speaks to Roula Khalaf, FT editor, and Martin Wolf, chief commentator on economics, about the extraordinary events of 2020, including Covid-19, the US elections and signs of reconciliation between Israel and the Gulf States. (FT)

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