FT News Briefing Tuesday, September 3
Sep 3, 2019
UK Prime Minister Boris Johnson is threatening a general election amid rising tensions with rebel MPs and Labour. Meanwhile, Germany faces economic challenges linked to Brexit, impacting exports and leading to the collapse of major merger talks in the legal sector. Additionally, delve into Verily, the ambitious health initiative by Alphabet, as it navigates partnerships and new leadership while aiming to revolutionize healthcare.
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UK Political Stakes
- UK Prime Minister Boris Johnson threatens a general election if MPs challenge his Brexit strategy.
- This high-stakes move pressures Tory rebels to comply or lose their seats.
Brexit's Impact on Germany
- Brexit significantly impacts Germany's export-dependent economy, causing a substantial drop in exports to Britain.
- This decline, the biggest since the financial crisis, hurts German growth amidst slowing global demand.
Law Firm Merger Failure
- Merger talks between Allen & Overy and O'Melveny & Myers collapsed after 18 months.
- The failure was attributed to valuation disagreements and Brexit-related currency fluctuations.