FT News Briefing Wall Street keeps investing in China, ECB to discuss strong euro, LVMH vs Tiffany
Sep 10, 2020
Wall Street's major players are undeterred by US-China tensions, pushing forward with investments in China's markets. The European Central Bank grapples with the strong euro, facing challenges without its top tools. Meanwhile, LVMH's attempts to finalize a $16.6 billion acquisition of Tiffany face legal hurdles, highlighting the intricate dance of luxury markets amid changing valuations and the impact of the pandemic. The complexities of corporate strategies in turbulent times take center stage.
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Wall Street Invests in China
- Wall Street is increasing its investments in China despite political tensions with the US.
- Several major financial institutions are making significant moves into the Chinese market.
ECB to Discuss Strong Euro
- The strong euro is worrying the European Central Bank (ECB).
- The ECB will discuss this issue but may be reluctant to cut already negative interest rates.
LVMH vs Tiffany
- LVMH is attempting to withdraw from its $16.5 billion deal to buy Tiffany, citing French government intervention.
- Tiffany disputes this, leading to a legal battle over the deal's future.