FT News Briefing Wednesday, February 19
Feb 19, 2020
The EU's wealthiest nations are holding firm on budget negotiations, affecting poorer countries. Meanwhile, Trump has granted clemency to notable white-collar criminals, stirring public discourse. In corporate news, Franklin Templeton's $6.5 billion acquisition of Legg Mason signals major shifts in the asset management landscape. HSBC is undergoing a radical restructuring, focusing on growth in Asia while cutting jobs in Europe and the US. All this lays the groundwork for significant financial and cultural discussions ahead.
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EU Budget Battle
- EU’s richest states are resisting increased budget contributions after Brexit.
- Poorer countries face spending cuts, and President Michel seeks a compromise.
Blagojevich Commutation
- Donald Trump commuted Rod Blagojevich's sentence after eight years served.
- Blagojevich was convicted for trying to sell Obama's former Senate seat.
Milken Pardon
- Trump pardoned Michael Milken, the “junk bond king,” convicted of financial crimes.
- Milken served 22 months and was barred from securities trading.