FT News Briefing Friday, October 25
Oct 25, 2019
Amazon's shares plummeted as profits dipped, stirring investor concerns. Boris Johnson is ramping up his call for a UK general election, adding to the political drama. In Europe, the Central Bank's decision to maintain interest rates marks a pivotal moment. Meanwhile, Paris is outpacing Berlin in the tech start-up scene. Lastly, Argentina's upcoming elections could see leftwing populists regain power, raising alarms for debt holders and complicating relations with the IMF.
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Amazon's Profit Decline
- Amazon's Q3 2019 profits dropped by $500 million, impacting its stock market value.
- Increased spending on holiday season preparations and AWS infrastructure contributed to the decline.
UK Election Push
- Boris Johnson pushes for a December 12th general election after abandoning the October 31st Brexit deadline.
- He suggests freezing Brexit legislation if MPs don't agree, but opposition parties want a guaranteed extension first.
Draghi's ECB Farewell
- Mario Draghi concludes his term as ECB president, leaving interest rates unchanged.
- He maintained existing loosening measures, delaying rate hikes until inflation rises, with Christine Lagarde succeeding him.