FT News Briefing IPO within Arm’s reach
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Sep 13, 2023 BP's CEO resigns, shaking up the energy sector with transparency issues at the forefront. Meanwhile, Germany grapples with economic turmoil as the fallout from COVID-19 and the Ukraine war put pressure on its growth. The podcast also dives into Poland's decision to cut interest rates amid rising inflation, affecting its economy's balance with Germany. Excitement builds around Arm's IPO, projected to hit $52 billion, which could breathe new life into the ailing market. Listeners are invited to share thoughts on the restart of U.S. student loan payments.
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BP CEO Resignation
- BP Chief Executive Bernard Looney resigned due to lack of transparency about past relationships with colleagues.
- Looney served as CEO for under four years, despite being with BP for over 30.
German Economic Woes
- Germany's economy is projected to shrink in 2023, the worst performance among leading economies.
- This is due to COVID, the Ukraine war, sluggish global growth, and domestic issues.
Skills Shortage Impact
- A skills shortage in Germany affects daily life, impacting various sectors and services.
- Laura Patel's daughter's kindergarten lost its cleaning service due to staff shortages.