FT News Briefing Thursday, May 23
May 23, 2019
UK Prime Minister Theresa May faces imminent pressure to resign as her Brexit plan falters. Meanwhile, Tyson Foods eyes Kazakhstan for a multi-billion dollar investment to circumvent trade tariffs with China. Additionally, a US judge upholds subpoenas for President Trump’s banking records, adding to his legal woes. The discussion also highlights Deutsche Bank's challenges as it gears up for its annual meeting and the potential shifts in leadership necessary for revitalization.
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May's Brexit Plan in Trouble
- Theresa May's Brexit proposal includes a fourth deal vote and a possible second referendum.
- Her plan lacks support, and her departure is expected soon.
Tyson Foods' China Strategy
- Tyson Foods is negotiating a $200 million investment in a Kazakhstan beef processing plant.
- This could bypass China's tariffs on U.S. beef.
Trump's Financial Records
- A judge ruled against President Trump's attempt to block banks from giving his financial records to Congress.
- Trump claims the subpoenas are harassment.