FT News Briefing Tuesday, October 15
Oct 15, 2019
Donald Trump has imposed sanctions on Turkish officials amid rising tensions. Hopes for a Brexit deal appear dim as negotiations face significant challenges. Facebook's digital currency, Libra, encounters regulatory hurdles, raising doubts about its future. Additionally, the demand for pig products surges due to African swine fever, impacting European pork prices. The fragile nature of the US-China trade truce is also discussed, revealing underlying uncertainties in the relationship.
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US Sanctions on Turkey
- President Trump imposed sanctions on Turkish officials after their military action in Syria.
- This includes government ministers and departments, increased steel tariffs, and halted trade deal negotiations.
UK Political Landscape
- The Queen's speech, outlining the government's agenda, seemed more like a Conservative election manifesto.
- It included 26 proposals, making it difficult to pass without a House of Commons majority, suggesting an imminent election.
Libra's Uncertain Future
- Facebook's Libra launch is delayed due to regulatory hurdles and withdrawals of founding members like Booking Holdings, PayPal, and Visa.
- Regulatory approval is uncertain, making the 2020 launch unlikely despite the technology being ready.