FT News Briefing Thursday, May 16
May 16, 2019
The podcast dives into the U.S.-China trade conflict, highlighting Trump's ban on Huawei and Cisco's manufacturing adjustments. WeWork's efforts to curb losses ahead of its IPO are also discussed. In Europe, the political landscape is explored as France's president faces challenges to his vision of unity amid rising nationalism and skepticism from other member states. Proposals for deeper integration within the EU are met with resistance, emphasizing the complexities of fostering collaboration in uncertain political times.
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Huawei Ban
- President Trump signed an executive order banning U.S. companies from using Huawei equipment.
- This raises national security concerns and escalates the trade dispute with China.
Cisco Shifts Manufacturing
- Cisco is reducing manufacturing in China due to higher U.S. import tariffs.
- Cisco is moving production to other countries, anticipating the impact of the trade war.
WeWork's IPO Woes
- WeWork is trying to reduce losses before a potential IPO, facing pressure after Uber and Lyft's IPO struggles.
- WeWork's revenue doubled, but losses remain a concern for investors.