FT News Briefing Thursday, October 31
Oct 31, 2019
The US Department of Justice settles with a key figure in the 1MDB scandal, shedding light on corruption. Apple shows robust accessory sales despite declines in smartphone demand. Boeing faces scrutiny over pilot training for the 737 Max and its safety risks. Additionally, the Federal Reserve cuts interest rates for the third time this year, sparking discussions about the economic outlook. These developments create a riveting landscape of accountability and shifting market dynamics.
AI Snips
Chapters
Transcript
Episode notes
1MDB Settlement
- The US Department of Justice reached a settlement with Jho Low, a Malaysian financier involved in the 1MDB scandal.
- Low will forfeit $700 million in assets but still faces criminal prosecution.
Apple's Wearables Success
- Apple's revenue grew slightly, driven by wearables and accessories, despite declining iPhone and Mac sales.
- This suggests Apple's diversification strategy is working.
Boeing's Pilot Training
- Boeing sought to minimize pilot training for the 737 MAX to reduce costs and expedite deployment.
- New documents reveal Boeing's efforts to avoid extensive training on the MCAS system.