FT News Briefing Tuesday, March 19
Mar 19, 2019
Prime Minister Theresa May faces mounting challenges in securing support for her Brexit deal as party tensions rise. The $43 billion Worldpay merger intensifies competition in the fintech sector. Meanwhile, U.S. farmers find themselves sidelined in the Japanese market. Lyft gears up to attract investors with its upcoming IPO, while discussions about Uber's market valuation reveal insights into the ride-hailing landscape and the broader market dynamics.
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Brexit Deal Rejection
- The Speaker of the House of Commons rejected Theresa May's Brexit deal.
- May needs to significantly change the deal to get another vote.
US Farmers Losing Japanese Market
- US farmers are losing market share in Japan after the US withdrew from the Trans-Pacific Partnership.
- Rival countries with trade deals are replacing US agricultural exports.
Fintech Consolidation
- Fidelity National Information Services is buying Worldpay for $43 billion.
- This is the biggest financial services takeover since the recession.