FT News Briefing Monday, March 2
Mar 2, 2020
The podcast dives into the economic fallout from the coronavirus, signaling a looming global recession and calls for intervention. It highlights Elliott Management's aggressive challenges at Twitter following their $1 billion stake. There's a discussion about Wyoming's potential land deal with Occidental Petroleum. Lastly, the impact of Bernie Sanders' candidacy raises eyebrows as Wall Street considers the implications of socialist policies on the U.S. financial landscape.
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Global Economy and Coronavirus
- The global economy faces a potential recession due to coronavirus disruptions.
- Policymakers debate appropriate responses, as some view it as a supply shock while others see demand issues.
Elliott Management Targets Twitter
- Elliott Management, holding a substantial stake in Twitter, seeks changes, including Jack Dorsey's removal as CEO.
- They cite concerns about Dorsey's dual CEO roles, high executive turnover, and Twitter's struggle to monetize users.
Historic Land Deal
- Wyoming considers a historic land purchase from Occidental Petroleum, potentially the biggest since 1867.
- Occidental sells assets to address debt, while Wyoming seeks opportunities in renewable energy and other utilities.