FT News Briefing Thursday, March 5
Mar 5, 2020
US stocks bounced back after a significant interest rate cut by the Federal Reserve, stirring up market volatility. James Murdoch is investing heavily in start-ups that tackle the issue of fake news. In a strategic move, the US plans to invest $5 billion in Ethiopia to counter China's expanding influence. Additionally, financial institutions are facing challenges as they prepare for potential remote trading due to the coronavirus, grappling with technological and logistical hurdles.
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Market Volatility
- U.S. stocks experienced volatility after the Federal Reserve cut interest rates.
- The market reacted positively to fiscal stimulus and Joe Biden's Super Tuesday success.
James Murdoch's Investment
- James Murdoch, after leaving 21st Century Fox, is investing in startups combating fake news.
- He criticized his family's news outlets for promoting climate change skepticism.
US Investment in Ethiopia
- The U.S. plans to invest $5 billion in Ethiopia to counter Chinese influence.
- This investment is tied to Ethiopia implementing private sector reforms.