FT News Briefing Monday, October 28
Oct 28, 2019
Alberto Fernández's victory marks a significant shift in Argentina, highlighting the Peronist Party's return amid economic turmoil. The fallout from Lloyds Banking Group's mismanagement of deceased customers' wills raises serious ethical concerns. In a major development, President Trump announces the death of ISIS leader Abu Bakr al-Baghdadi, stirring discussions on global security implications. Meanwhile, Uber's ambitious plan to evolve into a super app aims to rival giants like WeChat, despite facing investor skepticism and financial hurdles.
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Argentina's Political Shift
- Argentina's Peronist Party returns to power after Alberto Fernandez's victory over Mauricio Macri.
- The new government faces a struggling economy with high inflation and potential debt default.
Lloyd's Wills Mishandling
- Lloyd's Banking Group failed to return thousands of deceased customers' wills, sometimes distributing assets incorrectly.
- The bank claims most estates were unaffected due to other copies or superseded wills.
Death of ISIS Leader
- US Special Forces killed ISIS leader Abu Bakr al-Baghdadi in a raid in Syria.
- Despite this symbolic blow, ISIS still has a significant number of fighters and no clear successor, potentially causing volatility.