FT News Briefing
Scotland’s first minister resigns
Apr 30, 2024
Humza Yousaf's surprising resignation as Scotland’s first minister sends shockwaves through the SNP and raises questions for the upcoming UK election. Meanwhile, WeWork is on the brink of restructuring, potentially charting a new course after past failures. In Africa, significant venture capital interest is fueling growth in the tech sector, driven by a need for innovative financial solutions. Investors are optimistic about revitalizing the region’s startups, even as challenges in funding and economic stability persist.
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Quick takeaways
- Humza Yousaf resigned as Scotland's first minister due to a vote of no confidence after breaking a power-sharing agreement with the Scottish Greens.
- WeWork's senior creditors gained control over the reorganized company with a $450 million investment, rejecting co-founder Adam Neumann's comeback bid.
Deep dives
Scottish National Party Leadership Crisis
The Scottish National Party faced a major setback as Humza Yousaf resigned from his position as Scotland's first minister. Yousaf attempted to reset his leadership by breaking a power-sharing agreement with the Scottish Greens, aiming to refocus on critical issues such as health and education. However, this move led to a vote of no confidence against him, eventually resulting in his resignation and the need for a new party leader.
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