FT News Briefing Wednesday, August 21
Aug 21, 2019
The discussion delves into Donald Trump’s tax cut proposals aimed at revitalizing the U.S. economy amid recession concerns. It also highlights Italian Prime Minister Giuseppe Conte's resignation and its political ramifications. The episode analyzes the revamping of the Volcker rule and Facebook's pilot privacy tool. In a twist, Walmart sues Tesla over solar panel fires. Finally, tensions rise in the U.K. as Boris Johnson clashes with EU leaders over Brexit negotiations, adding more drama to the political stage.
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Potential Tax Cuts
- President Trump is considering tax cuts to boost the U.S. economy.
- He mentioned payroll tax cuts, but any changes need Congressional approval.
Italian PM Resigns
- Italian Prime Minister Giuseppe Conte resigned after government clashes.
- Italy's president must now decide whether to form a new coalition or call for elections.
Volcker Rule Relaxed
- U.S. regulators relaxed the Volcker Rule, a post-financial crisis banking regulation.
- The rule limited risky trading by banks with their own money.