FT News Briefing Wednesday, August 14
Aug 14, 2019
US stocks surged as tariffs on Chinese imports were postponed, bringing relief to investors. In Hong Kong, protests led to the cancellation of countless flights, displaying rising tensions. CBS and Viacom merged in a significant move for the entertainment sector. Facebook took a stand on user privacy by halting the human review of voice messages. Meanwhile, SoftBank is gearing up to raise a monumental $108 billion for its new Vision Fund, aiming to reshape the tech investment landscape with innovative strategies.
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Market Reaction to Tariff Delay
- The US stock market and Chinese currency rallied after tariff delays on Chinese imports.
- Tech and financial shares performed well, while safe haven assets sold off.
Hong Kong Airport Disruptions
- Hong Kong airport canceled flights after violent clashes between protesters and police.
- Protesters detained two men, one allegedly a mainland Chinese officer, another a journalist.
Viacom-CBS Reunion
- Viacom and CBS agreed to an all-stock merger, reuniting after a 14-year separation.
- The Redstone family, controlling both through an investment vehicle, orchestrated the deal.