FT News Briefing Tuesday, September 10
Sep 10, 2019
SoftBank is pushing WeWork to postpone its IPO amid major valuation concerns. Meanwhile, a coalition of 50 U.S. states is investigating Google's hold on online search and advertising. In the UK, Boris Johnson's challenges continue as he fails again to secure a snap election related to Brexit. Additionally, the controversial Payment Protection Insurance scandal is revisited, exposing dubious sales tactics that shook British banks and prompted a £50 billion fallout.
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SoftBank Pressures WeWork to Delay IPO
- SoftBank, WeWork's largest investor, is urging the company to postpone its IPO.
- They want a higher valuation than the $15-20 billion currently offered.
Boris Johnson Fails to Secure Snap Election
- Boris Johnson's second attempt for a snap UK election failed, leaving him trapped.
- He must now try to secure a Brexit deal at the EU summit.
Google Faces Antitrust Investigation
- Attorneys general from 50 U.S. states and territories launched an antitrust investigation into Google.
- This investigation targets Google's dominance in online search and advertising.