FT News Briefing Wednesday, March 27
Mar 27, 2019
Renault and Nissan have revitalized their alliance with plans for further acquisitions. A Eurosceptic MP surprises everyone by backing Theresa May’s Brexit deal. Travis Kalanick is exploring the world of dark kitchens with his new venture. Meanwhile, European investors are voicing concerns over soaring banker wages as they grapple with poor financial performance in the sector. The shifting landscape in corporate governance and executive pensions in the UK also raises eyebrows.
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Renault-Nissan Alliance and Acquisition Plans
- Renault and Nissan plan to restart merger talks within 12 months.
- They also aim to acquire another carmaker, possibly Fiat Chrysler, to compete with Volkswagen and Toyota.
Rees-Mogg Supports May's Deal
- Jacob Rees-Mogg, a prominent Eurosceptic, now supports Theresa May's Brexit deal.
- He believes it's the only way to avoid no Brexit at all, despite previous opposition.
Kalanick's Cloud Kitchens Expansion
- Travis Kalanick's City Storage Systems acquired Foodstars, a London-based dark kitchen startup.
- This marks CSS's first international expansion and highlights Kalanick's focus on acquisitions for growth.