FT News Briefing Monday, June 10
Jun 10, 2019
United Technologies and Raytheon join forces to form a $120 billion aerospace titan. Renault's move to block Nissan's governance changes sparks tensions in their partnership. Deutsche Bank uncovers significant issues in its payments screening processes. The race for Conservative Party leadership heats up, featuring 11 candidates vying for the top spot as Brexit uncertainties loom. Controversies surface surrounding a public figure's past, while candidates outline their strategies for navigating the complex political landscape.
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Aerospace Merger
- United Technologies and Raytheon will merge their aerospace businesses, creating a $120 billion giant.
- The new company will be the second-largest defense contractor, trailing only Lockheed Martin.
Renault Blocks Nissan
- Renault threatens to block Nissan's governance overhaul, jeopardizing months of work.
- Renault's abstention would deny the proposal the two-thirds majority it needs.
Deutsche Bank Failings
- Deutsche Bank discovered serious failings in its anti-money laundering and sanctions controls.
- The "filtering gap" affected checks to foreign recipients and high-value electronic payments.