FT News Briefing Thursday, January 16
Jan 16, 2020
The U.S. and China have paused their trade war, a crucial move for the global economy. Meanwhile, Joby Aviation has snagged $590 million from Toyota for its flying taxi venture. Goldman Sachs faces legal hurdles from the 1MDB bribery scandal impacting earnings. Additionally, insights from an exclusive chat with German Chancellor Angela Merkel shed light on her stance on multilateralism and her enduring political legacy, reflecting on her pivotal decisions amid changing public perceptions.
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US-China Trade Deal
- The US and China signed a "Phase 1" trade deal, pausing the trade war.
- The deal addresses intellectual property, currency manipulation, and requires China to buy US goods.
Flying Taxi Funding
- Joby Aviation, a flying taxi startup, secured $590 million in funding, mostly from Toyota.
- This makes Joby the most well-funded air taxi company, aiming for 2023 launch.
Goldman Sachs Earnings
- Goldman Sachs reported disappointing earnings due to legal costs from the 1MDB scandal.
- CEO David Solomon needs to show revenue growth from new business lines like consumer banking.