FT News Briefing Monday, June 24
Jun 24, 2019
Tensions between the U.S. and Iran escalate as new sanctions are planned. The UK's Huawei ban raises questions about its impact on 5G technology. Deutsche Bank faces scrutiny over its strategy to manage bad assets, igniting concerns about its U.S. operations. Businesses are struggling to meet climate goals set by the Paris Agreement, highlighting a gap between corporate promises and actual progress. Additionally, Istanbul's recent mayoral election has significant implications for Turkey's economy.
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US-Iran Tensions and Sanctions
- The U.S. plans to impose new sanctions on Iran, following Iran's downing of a U.S. drone.
- Trump is willing to negotiate without preconditions, but will maintain economic pressure.
UK's Huawei Approach Criticized
- Ericsson's U.S. head, Nicholas Huveledopp, says the UK's plan to partially ban Huawei from its 5G network is flawed.
- He argues that distinguishing between core and non-core network elements is technically inaccurate.
Deutsche Bank's 'Bad Bank' Scrutinized
- The Federal Reserve is scrutinizing Deutsche Bank's proposal to create a 'bad bank'.
- They are concerned about its potential impact on Deutsche Bank's U.S. operations.