FT News Briefing Thursday, August 8
Aug 8, 2019
US stocks showed resilience despite global growth concerns. The Trump administration is tightening its grip on Huawei amidst security fears. Broadcom is eyeing a deal with Symantec while Rosneft continues its oil support for Venezuela. On the trade front, the U.S. is ready to negotiate with the UK post-Brexit. Meanwhile, excitement builds around a San Francisco group striving for breakthroughs in artificial intelligence, raising questions about what's possible in machine learning. Stay tuned for a new podcast exploring global cultural shifts!
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Stock Market Reversal
- U.S. stocks rebounded after an initial drop, ending slightly up on Wednesday.
- This followed global interest rate cuts and concerns about a potential German recession.
Huawei Ban
- The U.S. government banned agencies from buying equipment from Huawei and other Chinese tech companies.
- This ban reflects ongoing security concerns and trade tensions between the two countries.
Broadcom and Symantec
- Broadcom revived talks to acquire Symantec's enterprise business for approximately $10 billion.
- This follows the collapse of earlier discussions to buy the entire company.