FT News Briefing Rupert Murdoch steps down
Sep 22, 2023
Rupert Murdoch's retirement as chair marks a pivotal shift in the media landscape, handing the reins to Lachlan Murdoch. Meanwhile, Russia tightens its grip on the oil market by banning diesel exports. In the UK, the Bank of England opts to maintain interest rates at 5.25% after a closely contested vote. Tensions rise as India halts visa issuance to Canadians, demanding a reduction in Ottawa's diplomatic presence. Dive into the intricate dance of business, politics, and economics!
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Murdoch's Impact
- Rupert Murdoch's resignation as chair marks the end of an era for the media mogul.
- His influence on media and politics across three continents is unparalleled.
Murdoch's Continued Influence
- While Rupert Murdoch steps down, his influence within his companies will likely persist.
- He intends to remain involved, offering feedback and direction.
Russia's Energy Play
- Russia's ban on diesel and gas exports, except for rare exceptions, adds pressure to the global oil market.
- This move mirrors previous actions where Russia weaponized energy resources.