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FT News Briefing
Central banks are scooping up the US dollar
Jun 12, 2024
Financial Times journalist Christine Murray discusses the EU's plan to impose tariffs on Chinese electric vehicles, the increase in central banks' interest in the US dollar, and the impact on Mexico's peso after proposed reforms by president-elect Claudia Sheinbaum. Central banks are seen shifting from the Chinese renminbi to the US dollar in the short term due to concerns about China's economic stability and transparency.
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Quick takeaways
- Shari Redstone ended talks with Skydance Media over Paramount deal, causing surprise among investors.
- 18% of central banks plan to increase US dollar reserves due to attractive returns and stability.
Deep dives
Paramount Deal Falls Through
Paramount CEO Sherry Redstone decided to end talks for a deal that would have involved Skydance Media taking over Paramount, causing surprise among investors and a 10 percent drop in Paramount's share price. Billionaire David Ellison and his backers were caught off guard by Redstone's decision.
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