FT News Briefing Wall Street’s ‘sigh of relief’ over Trump’s Treasury pick
17 snips
Nov 25, 2024 Huawei is about to unveil a flagship smartphone showcasing its own apps, marking a bold move in tech independence. Meanwhile, Wall Street is breathing easier with Scott Bessent as the new Treasury pick; his hedge fund background brings hope for economic stability. The podcast also delves into the struggle for climate finance agreements amid developing nations' concerns and warns of the U.S.'s diminishing influence in Latin America, particularly as China capitalizes on the region's rich mineral resources.
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Huawei's OS Advance
- Huawei is launching a new flagship phone running on its own operating system, Harmony OS Next.
- This signifies a major step towards competing with Apple's iOS and Google's Android.
Wall Street’s ‘sigh of relief’
- Wall Street welcomed Donald Trump's Treasury pick, Scott Bessent, as a pragmatic choice.
- Bessent, a hedge fund manager, is viewed as having relevant expertise for the role.
Climate Finance Deal at COP29
- Rich countries agreed to spend $300 billion annually by 2035 to help poorer nations address climate change effects.
- However, this amount falls significantly short of the estimated $1.3 trillion needed, according to economists.