FT News Briefing Friday, November 1
Nov 1, 2019
Congress votes to start public hearings in Trump's impeachment inquiry, stirring political waters. A former WeWork executive accuses the company of gender discrimination, adding to the corporate drama. Pinterest's shares tumble after disappointing revenue reports, while Altria takes a massive hit on its Juul investment. Additionally, insights unravel the struggles of European banks under low interest rates, revealing a challenging landscape and potential leadership changes on the horizon.
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Impeachment Inquiry
- The House voted to begin public impeachment hearings against President Trump.
- Republicans criticized the process, calling it a 'witch hunt'.
WeWork Discrimination Allegations
- Adam Neumann's former chief of staff, Medina Barty, filed a discrimination complaint against WeWork.
- She alleges discrimination against women and a hostile work environment fueled by drugs and alcohol.
Pinterest's Revenue Miss
- Pinterest's Q3 revenue fell short of expectations, despite a rise in active users.
- Analysts were disappointed by US sales growth and advertising revenue.