Republican newcomer Glenn Youngkin won the Virginia governor’s race in a campaign that was widely seen as a referendum on President Joe Biden’s Democratic presidency.
The former co-chief executive of the private equity group Carlyle was declared the winner over Democrat Terry McAuliffe just after midnight in a state Biden secured with a 10-point margin over Donald Trump a year ago.
The results showed Youngkin secured strong support in rural areas, and made inroads in suburban areas outside of Washington DC, where more moderate Republicans rejected the party during the Trump era.
“Alrighty, Virginia, we won this thing!” Youngkin said during a victory speech at a hotel ballroom in Chantilly, about 25 miles west of Washington.
In a further setback for Democrats, the incumbent governor in the New Jersey race, Phil Murphy, was tied with his Republican rival Jack Ciattarelli. Murphy had been projected to win by a clear margin but as of this morning the Associated Press had still not declared a winner.
The Youngkin victory was declared as the president returned to Washington from the COP26 conference in Scotland.
The result will jolt Democrats ahead of next year’s midterms, when control of both houses of Congress is up for grabs.
McAuliffe’s campaign tried to tie Youngkin, who had never before run for political office, to Trump after the former president endorsed the Republican. But Youngkin’s focus on cultural issues like the teaching of critical race theory in schools, as well as his criticism of Biden’s record on the economy and his handling of the pandemic, proved popular with moderate suburban Republican voters.
In yesterday’s other key elections, Democrat Eric Adams defeated Republican Curtis Sliwa to become the mayor of New York City and Michelle Wu, also a Democrat, became the first Asian-American and first female to be elected mayor of Boston.
Voters in Minneapolis, Minnesota, rejected a proposal to disband the city’s police department, 18 months after George Floyd was killed there.
Comment: Youngkin’s victory will serve as a template for the Republican campaign to retake Congress a year from now, writes Edward Luce.
Thanks for reading FirstFT Americas. Here’s the rest of today’s news — Gordon.
Five more stories in the news
1. Regulators sue to stop publishing merger The justice department has sued to block Penguin Random House and Simon & Schuster merging, alleging that the two companies would control more than two-thirds of the market for acquiring publishing rights after the $2.2bn deal.
2. New York hedge fund stands to make over $5bn on Avis Budget share surge SRS Investment Management is sitting on well over $5bn in potential gains from yesterday’s leap in the share price of ailing rental company Avis Budget. The company’s stock market valuation rocketed like a meme stock after executives discussed adding electric vehicles to their fleet.
Related news: Elon Musk yesterday raised doubts about a big order placed by Hertz for Tesla cars that helped drive the stock market valuation of the electric carmaker past $1tn.
3. Facebook to shutter facial recognition system The social media platform will shut its facial recognition system and delete data collected from 1bn users that has been used to identify them in photos posted on the platform, citing growing regulatory scrutiny of the field.
Do you agree with Facebook’s decision to shutter its facial recognition system? Tell us in our latest poll.
4. Ethiopia declares state of emergency The government in Ethiopia has declared a state of emergency as forces from the northern Tigray region said they were gaining ground and authorities in the capital Addis Ababa prepared for a possible military assault.
5. Pfizer raises 2021 Covid vaccine sales forecast The drugmaker more than doubled its forecast for Covid-19 vaccine sales this year to $36bn and predicted bumper revenues in 2022 as well as it expands global distribution and begins shipping jabs for booster shots and children.
COP26 digest
A Mark Carney-led coalition of international financial companies signed up to tackle climate change has up to $130tn of private capital committed to hitting net zero emissions targets by 2050.
The money pledged by rich countries to help poorer countries adapt to climate change is shaping up to be a make or break issue at COP26.
A small group of miners is emerging as big winners from the global energy crunch that has pushed the price of thermal coal, which is burnt in power stations to generate electricity, to record levels.
Brooke Masters: For years major oil companies have tried to ride two horses at once by saying they will drill enough oil and natural gas to keep the lights on while shovelling the profits into renewables and electric vehicle charging stations to save the planet. Investors are split.
How much do you know about how the world has changed due to global warming? Test yourself by completing these charts.
Explore the FT Global Gallery: COP26 Edition, a digital exhibition that reflects the themes and goals of this year’s high-stakes summit featuring multimedia presentations of FT journalism, thought-provoking films, interactive data visualisation and exclusively commissioned art.
The day ahead
Fed to announce ‘tapering’ Chair Jay Powell is expected to announce details of how the US central bank plans to unwind its emergency $120bn-a-month bond-buying programme after declaring it has made “substantial progress” towards achieving its inflation and employment goals.
Earnings Ride-hailing service Uber Technologies reports third-quarter earnings today. Investors will be watching for any commentary on driver shortages and the impact on margins from the incentives it offers.
Free access to FT.com all day Our website is free all day, so feel free to share articles and links with friends and colleagues. You might also be interested in sampling some of our premium newsletters like Due Diligence, which covers corporate finance, Scoreboard on the business of sport and Swamp Notes, for the best commentary on US politics.
What else we’re reading
Wind is blowing towards renewable energy in Gulf of Mexico For decades the Gulf of Mexico has been a sea of hulking oil platforms now the Biden administration wants to plant wind turbines there. This week the US interior department called on companies to express interest in leasing a 30m-acre area in waters off Louisiana and Texas in what would be a radical new look for the Gulf.
Russia’s excess mortality tally jumps The country has recorded 753,000 excess deaths during the coronavirus pandemic, one of the highest tolls in the world, according to analysis of government data by the Financial Times that highlights the stark impact of the disease as Moscow imposes fresh restrictions to curb its spread.
Law firms in Hong Kong in the line of fire The Mayer Brown controversy over the Tiananmen monument case highlights a dilemma for multinationals as Beijing demands more ideological loyalty from its commercial sector, writes Primrose Riordan.
Into the metaverse: how sci-fi shapes our attitudes to the future From The Terminator to Japanese manga, powerful narratives drive fear or reassurance around tech. But the point of science fiction — like all fiction — is not to predict the future, but to teach us what it really means to be human in a changing world, writes Madhumita Murgia.
How nature is inspiring the next generation of New York offices Companies like Google are moving beyond foosball tables, cycle lockers and yoga studios and designing workplaces that help people connect to the natural world in an effort to attract talent and boost productivity.
Transport
Like other cities around the world, Los Angeles saw a boom in bike ridership during the depths of the pandemic. The question, now facing campaigners, is how to keep Angelinos on two wheels. Christopher Grimes reports.
Source: Economy - ft.com
