FT News Briefing Tuesday, December 17
Dec 17, 2019
Global stocks are hitting record highs as tensions ease between the US and China. Netflix reveals impressive growth outside the US, while Boeing plans to halt 737 Max production. Additionally, American tech firms are pushing back against government restrictions on Huawei, citing potential impacts on their supply chains. Meanwhile, Huawei is shifting tactics from lobbying to legal battles in response to US actions, raising alarms about a possible technology cold war. The tension between regulation and corporate interests is palpable.
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Market Rally
- Global stocks hit record highs on Monday, fueled by positive trade developments.
- The U.S. and China paused their trade war, and the U.S. and Mexico resolved a dispute over the USMCA.
USMCA Resolution
- The U.S. and Mexico resolved a dispute over labor enforcement provisions in the USMCA trade deal.
- Mexico's concerns over U.S. labor attaches were addressed, paving the way for a House vote.
Netflix Growth and Revenue
- Netflix revealed regional subscriber numbers, showing growth outside the U.S., but with lower revenue per user.
- International expansion is key for Netflix, but revenue disparities pose a challenge.