FT News Briefing Monday, April 29
Apr 29, 2019
Spain's Socialist Party scores a significant victory in the country’s elections. Meanwhile, US and UK airlines face financial turbulence from the Boeing 737 Max grounding. Deutsche Bank’s chairman insists no major strategic overhaul is needed. The discussion dives into the intriguing career of Tom Barrack, a contrarian investor linked to Trump's circle, revealing both his bold decisions and the complexities of his investment record.
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Spanish Election Results
- Spain's Socialist Party won the general election, but may not need Catalan separatist support for a majority.
- The far-right Vox party's breakthrough marks its first significant parliamentary presence since Franco.
Boeing 737 MAX Grounding Impact
- US and UK airlines face profit losses due to the Boeing 737 MAX grounding after two fatal crashes.
- Boeing's investor meeting today may address compensation costs and calls for a boardroom shakeup.
Deutsche Bank Strategy
- Deutsche Bank chairman Paul Achleitner says the bank doesn't need a strategy overhaul despite recent merger talks collapsing.
- He defends current turnaround efforts even with a 14% revenue drop in the corporate and investment bank.