FT News Briefing Tuesday, April 9
Apr 9, 2019
The Federal Reserve is considering a proposal requiring large foreign banks in the U.S. to increase their liquid asset holdings. Novartis is holding back on acquisition spending, signaling strategic caution. Pinterest aims to raise $1.3 billion with its IPO. In Israel, political rivalries heat up as Netanyahu faces challenges from Gantz amid the backdrop of a pivotal election. Meanwhile, tensions ramp up ahead of an emergency EU summit, with Macron's strong stance on Brexit making waves alongside fresh insights into American retail.
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Fed Proposal Impacts Foreign Banks
- The Federal Reserve proposed changes that could impact foreign banks in the U.S.
- Some banks might face tighter liquidity rules, while others could see reduced capital requirements.
Novartis Streamlining Business
- Novartis CEO Vas Narasimhan aims to streamline the company and boost shareholder returns.
- They plan to limit spending on takeovers and spin off their eye care subsidiary, Alcon.
Pinterest IPO and Market Sentiment
- Pinterest seeks a lower valuation than its 2017 private share sale for its IPO.
- This down-round IPO could signal Wall Street's waning interest in new tech listings.