FT News Briefing Friday, August 30
Aug 30, 2019
US companies are holding steady in China despite political pressure to pull out. Argentina's plea for debt relief falls flat with creditors. Meanwhile, Boris Johnson gears up his chief negotiator for Brexit discussions with the EU. The conversation also dives into Christine Lagarde's legacy at the IMF and what it could mean for her upcoming role at the European Central Bank. This leadership transition could reshape economic policies amidst existing challenges in the Eurozone.
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US Companies in China
- US companies are unlikely to heed Trump's order to ditch China investments.
- The US-China Business Council says members are committed to long-term presence in China.
Argentina's Debt Woes
- Argentina's request for debt payment extension met with negative market reaction.
- The move signals potential sovereign default, impacting the peso and bond sales.
Brexit Negotiations Intensify
- Boris Johnson is increasing Brexit negotiations with the EU.
- This follows his controversial move to shut down Parliament, limiting MPs' response time.