FT News Briefing Thursday, April 11
Apr 11, 2019
Brexit's deadline has been pushed to October, leading to more uncertainty in UK politics. Lyft is struggling as shares hit a new low, just as Uber prepares for its IPO. The Federal Reserve is hinting at potential interest rate changes. Meanwhile, India is gearing up for its pivotal general election, with Prime Minister Modi cleverly branding himself 'Chokidar' amidst allegations of corruption. The political landscape is heating up as Modi responds vigorously to national security threats while facing criticism over his economic strategies.
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Brexit Extension
- The European Council granted the UK a Brexit delay until October 31st.
- This decision followed a push for a shorter extension by French President Emmanuel Macron.
Lyft and Uber
- Lyft's shares fell over 16% below its IPO price, impacting its market capitalization.
- This decline comes as Uber prepares for its own IPO, aiming for a $100 billion valuation.
Federal Reserve Policy
- The Federal Reserve held US stocks steady after cutting its rate forecast to zero.
- Minutes revealed most participants expect unchanged rates, but some views could shift based on new data.