FT News Briefing Friday, June 28
Jun 28, 2019
Tensions rise as the G20 summit approaches, with Trump and Xi's critical trade discussions on the horizon. The Federal Reserve targets Credit Suisse in its latest stress tests, while Nike enjoys increased sales through strategic adaptability. Jony Ive's departure from Apple marks a significant change in design leadership. Meanwhile, Putin critiques liberalism's relevance in today's politics, setting a provocative tone for global discussions.
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Credit Suisse Scrutinized
- The Federal Reserve identified weaknesses in Credit Suisse's capital plans, despite being well-capitalized.
- The Fed demanded fixes regarding forecasted trading losses during a downturn before allowing increased payouts to the parent company.
Jony Ive Leaves Apple
- Jony Ive, Apple's chief design officer, will depart at year's end after two decades.
- Ive expressed a desire to pursue personal ventures beyond Apple's scope.
Nike's Direct Sales Strategy
- Nike's direct-to-consumer sales strategy helps mitigate trade war impacts and slow growth.
- Higher online sales and profit margins, especially in North America and China, demonstrate this.