FT News Briefing Friday, October 11
Oct 11, 2019
Brexit negotiations triggered a significant surge in the British pound, marking its best performance since March. Meanwhile, James Murdoch's new venture into Vice Media creates buzz in the media landscape. US-China trade talks are nearing a potential agreement, stirring global economic hopes. The European Central Bank faces internal strife over quantitative easing, adding another layer of complexity to international monetary policies. Lastly, Christine Lagarde navigates substantial policy shifts, emphasizing the need for adaptability in leadership.
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Sterling Surge
- The British pound had its largest one-day rise in seven months after Brexit talks.
- The pound climbed to $1.24 after Boris Johnson and Leo Varadkar saw a pathway to a deal.
Murdoch's Media Move
- James Murdoch's Lupa Systems bought a minority stake in Vice Media following Vice's acquisition of Refinery29.
- James, who received an estimated $2 billion from the Disney deal, has served on Vice's board for years.
US-China Trade Truce
- The US and China aimed for a trade truce, focusing on a tariff increase on $250 billion of Chinese imports.
- While not a full deal, the potential truce involved China buying more agricultural products and some currency provisions.