FT News Briefing Friday, November 22
Nov 22, 2019
Google's $2.1 billion deal for Fitbit faces backlash from politicians and privacy advocates concerned about data security. Meanwhile, Israeli Prime Minister Benjamin Netanyahu confronts serious legal challenges, including bribery and fraud allegations. In China, a major construction group halts work on a skyscraper, signaling economic troubles. Additionally, Charles Schwab prepares to acquire TD Ameritrade for $25 billion, highlighting the ongoing consolidation trend in the financial sector as smaller firms struggle to compete.
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Google-Fitbit Deal: Privacy Concerns
- Google's acquisition of Fitbit raises privacy concerns due to the sensitive health data involved.
- This data could enhance Google's personalized health services, but critics fear increased monopoly power.
Netanyahu's Corruption Charges
- Israeli Prime Minister Benjamin Netanyahu faces bribery, fraud, and breach of trust charges.
- These charges coincide with Israel's political instability and potential third election.
China's Skyscraper Slowdown
- Work on Wuhan Greenland Center, one of China's tallest skyscrapers, has been suspended due to the developer's default.
- This follows a trend of stalled skyscraper projects in China, possibly signaling an economic slowdown.