FT News Briefing Tuesday, October 1
Oct 1, 2019
Discover the latest political tensions as Senate leader Mitch McConnell comments on a potential impeachment trial for President Trump. Dive into the concerns of European central bankers over soaring house prices and the ripple effects on the mortgage market. WeWork's withdrawal from its IPO plan raises questions about its future. Plus, explore the challenges faced by oil giants like Shell as they grapple with the emotional and financial demands of transitioning to cleaner energy amidst growing environmental responsibilities.
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Impeachment Trial Inevitable
- If the House impeaches Trump, the Senate is obligated to hold a trial.
- Senate Majority Leader Mitch McConnell confirmed this process, highlighting the Senate rules around impeachment.
Mortgage Market Risks
- European central bankers are urging politicians to regulate the mortgage market more tightly due to rising house prices.
- The European System Risk Board called on 11 countries to address the potential risks in their overheating housing markets.
WeWork Withdraws IPO
- WeWork officially withdrew its IPO after facing investor skepticism and leadership changes.
- The company's valuation plummeted, and they are now renegotiating funding terms.