Hopes had been rising in London and Brussels on Sunday {that a} post-Brexit trade deal can be rescued, however there have been warnings that the EU and UK remained “far aside” on key points and that talks may go to the wire.

Boris Johnson, UK prime minister, and Ursula von der Leyen, European Fee president, agreed in a “constructive” name on Sunday to “go the additional mile” looking for a deal, as each side reported progress within the talks. Sterling rose in early Asia buying and selling on Monday on the information of prolonged talks.

However no deadline was set for the conclusion of negotiations, with British officers admitting that they may drag on till Christmas. UK enterprise leaders expressed frustration that firms nonetheless didn’t know the phrases of commerce with the EU on January 1, when Britain’s transition deal ends.

Folks near the negotiations stated the progress in the talks since Friday had been in direction of cracking what has grow to be the important thing sticking level: the problem of designing a system that may fulfill EU calls for for truthful enterprise competitors with out falling foul of the UK’s willpower to flee the bloc’s guidelines. (FT)

Coronavirus digest

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Within the information

China takes centre stage at UN local weather summit China vowed to almost triple its wind and solar capacity in the course of the subsequent decade, as President Xi Jinping joined different world leaders at a UN local weather summit targeted on new emissions targets. Mr Xi’s assertion was essentially the most consequential on the digital occasion. Renewable energy sources have risen since 2015, however there’s nonetheless an extended approach to go. (FT)

Adoption of renewables continues to grow and now accounts for more than 25% of electricity production. Chart showing electricity production by source rebased to 2015, the date of the Paris Agreement

Eurozone banks as a consequence of resume payouts Europe’s prime monetary regulators are placing the ending touches to new suggestions permitting the area’s strongest lenders to restart dividend payments within strict limits, ending a nine-month hiatus imposed because of the coronavirus disaster. (FT)

Fed poised to proceed disaster bond facility The US central financial institution is able to problem new steerage extending its emergency bond-buying programme, because it grapples with the necessity for an additional financial enhance to buttress the US financial restoration. In the meantime, a hacking group backed by a foreign government spied on emails inside the US Treasury and a telecommunications company. (FT, Reuters)

Pakistanis protest towards authorities Hundreds of Pakistanis took to the streets on Sunday, defying official recommendation to not collect in the course of the Covid-19 pandemic, to protest towards the federal government of Imran Khan as public anger mounts over rising costs and weak economic system. (FT)

Anti-government protesters march in Lahore. Opposition leaders have threatened to organise a march to Islamabad and paralyse the capital © Mohsin Raza/Reuters

AstraZeneca to purchase Alexion The Anglo-Swedish drugmaker has agreed to take over the US biotechnology group in a $39bn deal, marking the largest settlement struck by a prescription drugs firm for the reason that begin of the Covid-19 pandemic. (FT)

Trump loyalists march towards election outcomes Protesters clashed with police in Washington on Saturday, as hundreds of Donald Trump’s supporters staged a rally towards the presidential election a day after the US Supreme Court docket rejected a Texas-led challenge to the vote. (FT)

China detains Bloomberg Information employees member Chinese language safety providers have arrested Haze Fan, an worker on the enterprise media group’s Beijing bureau, on suspicion of endangering nationwide safety. Individually, on Friday in Hong Kong police charged media mogul Jimmy Lai with violating town’s new nationwide safety legislation. (FT, NYT)

Fb’s India conflicting security issues The social media firm has resisted calls to remove Bajrang Dal, a Hindu nationalist organisation that has supported violence towards minorities within the nation, from the platform over fears that the transfer would jeopardise the security of its personal employees — in addition to its enterprise prospects, in keeping with a report from Fb’s safety crew. (WSJ)

The day forward

Financial institution of Japan Tankan survey The central financial institution will problem its enterprise evaluation on Monday as smaller firms proceed to endure in the course of the pandemic. A restoration in exports nevertheless, is forecast to point out a lift to business confidence. (FT, Reuters)

India inflation knowledge Figures to be launched on Monday are prone to fall effectively above the central financial institution’s goal band because the nation’s struggle with inflation continues. (FT)

PM to deal with Singapore Lee Hsien Loong will provide an update on the nation’s dealing with of the pandemic and a 2021 outlook. (Straits Occasions)

Electoral Faculty votes The 538 electors will meet on Monday to formally solid their vote for the subsequent US president. Right here’s how the vote, which has acquired even higher consideration this 12 months, will happen. (FT, NYT)

FT Brexit Briefing: Deal or no deal? Understanding the necessities

Be a part of us this Tuesday, December 15 at 3pm GMT for a vital webinar, hosted by professional FT journalists, to grasp in 50 minutes what a deal or a no deal means for you and your enterprise. Whatever the final result, learn the way all the important thing areas could also be impacted. Register for free here. And you’ll signal as much as our Brexit Briefing e-newsletter here.

What else we’re studying

Rethinking Xi’s ‘undertaking of the century’ It has not taken lengthy for the wheels to come back off the Belt and Street Initiative. What was conceived because the world’s largest growth programme is unravelling into what could become China’s first overseas debt crisis. (FT)

© Getty Photos | Xi Jinping leaves the stage after the 2017 Belt and Street convention

Wished: pandemic jobs As Covid-19 has battered excessive streets, lodges and airways, different sectors are unscathed and even thriving. The pandemic has left a deeply uneven jobs market in its wake, writes Pilita Clark, who spoke with hiring managers on the lookout for this 12 months’s most in-demand jobs. (FT)

The quantum thriller of Japan’s on-off Olympics As with physicist Erwin Schrödinger’s hypothetical cat, the Tokyo Olympic Video games — now scheduled for summer season 2021 — are each lifeless and alive in a field that no person desires to open, writes Leo Lewis. (FT)

Beijing wins factors in recreation towards Washington China’s current accomplishments, together with a moon mission, echo the cold war competition between the US and the Soviet Union. The strikes put into query any efforts by China to courtroom president-elect Joe Biden. (FT)

Erno Rubik: ‘The Dice has his personal voice’ The three-dimensional puzzle’s creator weighs in on getting wealthy in chilly war-era Hungary and the character of invention over our Lunch with the FT characteristic with our south-east Europe correspondent Valerie Hopkins. (FT)

How civilisation broke our brains The place do the “Sunday scaries” come from? That flood of hysteria we really feel on Sunday evenings forward of the beginning of the work week. Capitalism, in spite of everything, does exist each different night time of the week. The reply might lie in how we structure our time — and classes learnt from hunter-gatherer societies. (Atlantic)

Spacs are oven-ready offers it’s best to depart on shelf The snag with particular objective acquisition firms — as with a lot of contemporary finance — comes when a merger deal is lastly struck. It’s solely then that you simply begin to realise how a lot these ventures actually value, writes Jonathan Ford. (FT)

‘The Paris targets are inside attain’ There was a decisive acceleration in national climate pledges, and legally binding carbon targets, that has helped to push down the planet’s warming trajectory. May this be a turning level for the targets of the Paris accord? Some scientists suppose so. (FT)

The price of producing vitality from renewables, such because the solar energy generated by the Yamakura Dam plant in Ichihara, Japan, is dropping. © Carl Court docket/Getty Photos

Podcast of the day

Payne’s Politics: time working out for Brexit commerce deal With negotiations on an settlement between the UK and the EU stalled once more, and UK prime minister Boris Johnson warning of a no-deal final result, can the method be salvaged? Sebastian Payne and his friends focus on developments. Pay attention on FT.com, Spotify or Apple podcasts.

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