FT News Briefing Thursday, November 21
Nov 21, 2019
Get ready for a whirlwind of politics and business! The U.S. ambassador to the EU's dramatic testimony against Trump shakes the impeachment landscape. Meanwhile, Saudi Arabia's IPO moves are leaving global banks in the dust. GM's legal showdown with Fiat Chrysler over alleged bribery adds fuel to the fire. Plus, discover how Walmart is making a surprising comeback in today's competitive retail market. Tune in for the latest insights!
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Sondland's Testimony
- Gordon Sondland, the U.S. ambassador to the EU, testified against President Trump in the impeachment inquiry.
- Sondland admitted to a quid pro quo involving a White House meeting and a phone call with Ukraine's president.
Aramco IPO Shift
- Saudi Aramco is sidelining major global banks in its IPO, favoring local brokers for domestic investors.
- This move follows reduced foreign demand, impacting bank fees and order oversight.
GM Lawsuit
- General Motors is suing Fiat Chrysler, alleging FCA bribed UAW officials during negotiations.
- GM claims this resulted in higher costs and seeks substantial damages.