FT News Briefing Friday, December 20
Dec 20, 2019
Andrew Bailey steps into the role of the new Bank of England governor amid significant challenges. Tensions rise in the political arena as Democrats and Republicans argue over President Trump's Senate impeachment trial. In a surprising move, former Uber CEO Travis Kalanick has sold off most of his stake in the company. As the year ends, investors are increasingly attracted to risky U.S. debt, particularly in the junk bond market, raising concerns over bond stability and potential bubbles.
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New BOE Governor
- Andrew Bailey, current FCA head, will replace Mark Carney as Bank of England Governor.
- His appointment follows delays due to Brexit and the UK election, despite past FCA controversies.
Impeachment Trial Delay
- Nancy Pelosi is delaying sending impeachment articles to the Senate to pressure Republicans.
- They're fighting over trial rules, including calling witnesses like Mick Mulvaney.
Kalanick Sells Uber Stake
- Travis Kalanick, ousted Uber chief, sold over $2.5B of his Uber stock.
- This follows his 2017 removal after scandals involving sexism, harassment, and company culture.