FT News Briefing Tuesday, May 21
May 21, 2019
Federal Reserve Chair Jay Powell reassures markets about corporate debt risks, easing fears of a financial meltdown. Hungarian Prime Minister Viktor Orban ramps up campaign efforts as European parliamentary elections approach. Meanwhile, the UK sees a shocking increase in crypto and forex fraud claims. The tech rivalry between the U.S. and China heats up, featuring Huawei's struggle amid trade tensions and security concerns, highlighting the evolving landscape of global tech competition.
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Corporate Debt Risk
- Jay Powell acknowledges growing corporate debt, similar to past crises.
- High debt levels strain businesses, but don't currently threaten overall financial stability.
Orban's European Election Campaign
- Hungarian Prime Minister Viktor Orban campaigns for Fidesz in European Parliament elections.
- Orban's clashes with the EU over autocratic tendencies and refugee policies create tension.
Crypto and Forex Scams Rise
- UK's FCA reports cryptocurrency and forex scams more than tripled.
- Fraudsters use social media and fake celebrity endorsements to promote get-rich-quick schemes.