FT News Briefing Tuesday, September 17
Sep 17, 2019
WeWork has delayed its IPO after failing to attract investor interest. President Trump claims an initial trade deal with Japan. Brexit negotiations remain stagnant, causing frustrations in the EU. Bill Gates warns we’re far from achieving the UN's Sustainable Development Goals. The recent attack on a Saudi oil facility caused a massive surge in global oil prices, impacting economies worldwide. Rising oil prices also affect consumer spending and the airline industry, highlighting geopolitical tensions.
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WeWork IPO Postponed
- WeWork postponed its IPO due to weak investor interest and concerns about CEO Adam Neumann's influence.
- The company also faces mounting operating losses and aims to go public by year-end.
Saudi Oil Attack Impact
- The attack on Saudi Arabia's oil facility increases US-Iran tensions and disrupts oil production.
- Uncertainty surrounds the return to normal production, impacting the global economy.
Oil Market Reaction
- Brent crude oil saw historic price surges, impacting stocks and raising consumer concerns.
- Asian countries dependent on oil imports, like South Korea, face significant economic exposure.