FT News Briefing Friday, March 22
Mar 22, 2019
EU leaders have granted a brief extension for Brexit negotiations, stirring discussions on its implications. Meanwhile, Spotify is negotiating high-stakes licensing deals that could reshape the music industry. The tech sector gives a boost to US stocks, demonstrating investor confidence. Excitement fills the New York Stock Exchange as Levi Strauss goes public, marking a trendy vibe with a denim dress code. Insights into the IPO price discovery process reveal the complexities and dynamics of market forces at play.
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Brexit and Spotify
- EU leaders granted Theresa May a short Brexit extension until April 12th.
- Spotify is in licensing talks with major music labels, impacting its profit margins.
Market Rally
- U.S. stocks rallied, boosted by the technology sector, after the Federal Reserve's dovish turn.
- The Fed signaled no rate rises this year and will halt balance sheet reduction.
Levi's IPO
- Levi Strauss returned to the public market with its IPO on the New York Stock Exchange.
- Traders on the NYSE floor wore denim to celebrate the event.