FT News Briefing Wednesday, June 5
Jun 5, 2019
David Malpass, the new World Bank president, expresses concerns about a global trade slowdown. President Trump predicts tariffs on Mexico are imminent, sparking mixed reactions among senators. Meanwhile, Renault hesitates on a major merger with Fiat Chrysler under pressure. The Federal Reserve is contemplating interest rate cuts in light of trade tensions and low inflation, as experts gather in Chicago to discuss future monetary policy. Economic uncertainty looms large, prompting adaptations in both national and global markets.
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Global Trade Slowdown
- The World Bank's new president, David Malpass, highlighted a global trade slowdown.
- He also noted decreased business confidence and investment in emerging economies.
US-Mexico Tariffs
- President Trump insists on tariffs against Mexico, despite Republican reluctance.
- Vice President Pence will lead discussions with Mexican officials to address the issue.
Renault-Fiat Chrysler Merger Delay
- Renault delayed a decision on a merger with Fiat Chrysler due to concerns from Nissan.
- Gaining Nissan's support is crucial for the merger's success.