FT News Briefing Monday, November 18
Nov 18, 2019
Saudi Aramco is scaling back its IPO, raising eyebrows in the investment community. Nancy Pelosi vows to protect a whistleblower amidst Trump's impeachment inquiry. Boris Johnson is set to introduce tax breaks worth £1bn to stimulate business. Meanwhile, HP's board decisively rejects a $22-a-share bid from Xerox. The discussion also highlights Income Share Agreements as an innovative solution to student debt, drawing interest from yield-starved investors looking for alternatives in today's low-yield environment.
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Aramco IPO Scaled Back
- Saudi Aramco scales back IPO, now targeting $25 billion instead of $100 billion.
- The company will list 1.5% of shares, valuing it at $1.6-1.7 trillion, surpassing Apple.
Pelosi Defends Whistleblower
- Nancy Pelosi vows to protect the whistleblower who triggered the impeachment inquiry against President Trump.
- Trump wants to interview the whistleblower, but Pelosi says she will prevent intimidation.
Johnson Woos Businesses
- Boris Johnson will propose tax breaks and business rate cuts worth £1bn annually by 2022.
- This aims to win over businesses previously alienated by his Brexit stance.