The race for a vaccine, the story behind EBITDAC, BoE’s Bailey

The hunt for a coronavirus vaccine is central to global efforts to restart economies. The FT’s US coronavirus correspondent, David Crow, explains how nationalism could slow the fight against the pandemic. Plus, some companies are presenting a new customised metric they are calling ebitdac: earnings before interest, tax, depreciation, amortisation — and coronavirus. The FT’s markets reporter, Nikou Asgari, looks into whether it will stick. Then, the governor of the Bank of England, Andrew Bailey on the central bank’s response to the crisis. To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/newsbriefingcovid. You can watch the full Andrew Bailey interview from The FT’s Global Boardroom event here.  

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