FT News Briefing Friday, November 8
Nov 8, 2019
Saudi Aramco's IPO could see dividends soar past $100 billion, while Disney grapples with costs for its new streaming service. Meanwhile, Michael Bloomberg kicks off his presidential bid for 2020. The U.S. stock market hits record highs amid easing U.S.-China trade tensions, and the Bank of England hints at potential interest rate cuts. On the political front in Spain, fragmentation leads to upcoming elections amidst challenges from the far-right Vox party and ongoing Catalonian tensions.
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Aramco Sweetens IPO Deal
- Saudi Aramco is incentivizing potential investors with bonus payouts on top of its $75 billion minimum dividend pledge.
- These payouts could push the annual dividend past $100 billion if oil prices average $70 a barrel.
Disney's Streaming Gamble
- Disney's profits dropped 28% last quarter due to the high costs of launching its new streaming service, Disney Plus.
- Despite the drop, profits still exceeded analyst expectations, and shares rose after the announcement.
Spain's Political Deadlock
- Spain's political system is fragmented, making it difficult for traditional parties to form governments.
- The Catalan issue further complicates matters, polarizing Spanish politics and hindering coalition building.