FT News Briefing Monday, May 6
May 6, 2019
President Trump drops a bombshell with threats of raising tariffs on all Chinese imports. Occidental Petroleum sweetens its offer for Anadarko Petroleum, drawing attention in the corporate world. Meanwhile, the EU gears up for a substantial antitrust investigation into Apple. On the economic front, insights reveal stronger-than-expected growth in the U.S. and China, despite looming challenges like trade conflicts and manufacturing concerns. A fascinating mix of corporate maneuvers and economic analysis keeps the discussion lively!
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Tariff Threat
- President Trump threatens to raise tariffs on Chinese imports to 25%.
- This impacts $200 billion of goods, with another $325 billion soon affected.
Occidental's Revised Bid
- Occidental Petroleum restructured its Anadarko bid, adding more cash.
- This avoids shareholder approval, addressing previous pushback.
EU Investigates Apple
- The EU will investigate Apple for antitrust issues following Spotify's complaint.
- Spotify alleges Apple favors its own Apple Music service through App Store fees.