FT News Briefing Wednesday, November 6
Nov 6, 2019
A U.S. envoy reveals connections between Ukraine aid and a Biden probe. IKEA and H&M are making waves in retail by pouring millions into sustainable startups. Hints of progress emerge in Germany for a eurozone banking union, sparking hope for financial stability. Meanwhile, a startling investigation uncovers that air pollution on the London Underground can exceed health guidelines by up to ten times, raising serious concerns about urban air quality.
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Sondland Testimony Revision
- Gordon Sondland, the U.S. ambassador to the EU, revised his testimony in the impeachment inquiry.
- He now admits that U.S. aid to Ukraine was linked to an investigation into Joe Biden.
Retailers Invest in Venture Capital
- IKEA and H&M are investing in venture capital to adapt to changing retail landscapes.
- IKEA invested €200 million in startups, while H&M invested over €52 million, focusing on sustainability and technology.
German Support for Banking Union
- German Finance Minister Olaf Scholz now supports a complete European banking union.
- He believes it's necessary for the Eurozone's resilience and global standing.