FT News Briefing Wednesday, July 10
Jul 10, 2019
Tune in as tensions rise with Mexico's finance minister resigning, shaking investor confidence and pressuring the peso. Levi Strauss struggles with slipping shares after costly IPOs dampen earnings. Meanwhile, Boris Johnson artfully dodges Brexit queries during a tense leadership debate. The looming threat in the leveraged loan market is explored, detailing risks and investor challenges related to insufficient documentation. Insights into the interaction between private equity and debt reveal crucial implications for upcoming financial movements.
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Mexican Finance Minister Resigns
- Mexico's Finance Minister, Carlos Urzúa, resigned due to policy differences with President Andrés Manuel López Obrador.
- This triggered a sell-off in Mexican assets, impacting the peso and bonds.
Levi Strauss Earnings Dip
- Levi Strauss' second-quarter earnings dropped due to IPO costs, advertising, and exchange rates.
- However, revenue growth, excluding currency changes, is projected, along with improved margins.
Johnson Dodges Brexit Questions
- Boris Johnson dodged questions about resigning if Brexit doesn't happen by the deadline and about the UK ambassador to the US.
- Jeremy Hunt challenged Johnson during a Conservative Party leadership debate.