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FT News Briefing
IPO within Arm’s reach
Sep 13, 2023
BP's chief executive Bernard Looney resigns; Germany's economic woes hurting neighbors; Poland's interest rate cut and Arm IPO discussed; implications of the IPO for Arm and SoftBank; Arm IPO expected to impact market; brief mention of student loan payments.
10:33
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Quick takeaways
- BP's CEO Bernard Looney resigned due to undisclosed past relationships with colleagues, highlighting the importance of transparency and ethical conduct in corporate leadership.
- Germany's economic challenges, including COVID-19 impacts and political issues, have led to skepticism about the government's ability to revive the economy through promised reforms.
Deep dives
Resignation of BP CEO due to undisclosed personal relationships
BP's Chief Executive Bernard Looney has resigned after it was revealed that he was not fully transparent about past personal relationships with colleagues. The investigation into these relationships is ongoing. Looney, who had been with the company for over 30 years, was appointed CEO in 2020 to oversee the company's transition toward greener energy.
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