FT News Briefing

Uber’s rising revenue fails to stem a large loss in the third quarter and SoftBank tightens governance at companies it backs following the near collapse of WeWork. Meanwhile, Trump administration officials debate whether to remove some existing tariffs on Chinese goods to seal a partial deal, UK MPs vote in favor of Lindsay Hoyle as the next Speaker of the House of Commons, and a second senior executive leaves McDonald’s after the chief executive was fired over a relationship with an employee. Plus, are Americans better off financially than they were four years ago? A new FT-Peterson poll has some interesting answers.  See acast.com/privacy for privacy and opt-out information.

The whistleblower who sparked the impeachment inquiry into Donald Trump agrees to answer questions by House Republicans, Saudi Aramco launches its long-awaited IPO, regulators call on Deutsche Bank’s Christian Sewing to give up his dual role as chief executive and investment bank head, and McDonald’s sacks its chief executive over a relationship the fast-food giant said is a violation of company policy. Plus, Facebook, Google and other big technology companies are facing several US investigations into their corporate power. The FT’s Kiran Stacey looks at which investigations the industry should worry about.  See acast.com/privacy for privacy and opt-out information.

The US House of Representatives votes to begin a new public phase in the impeachment inquiry into Donald Trump, Adam Neumann’s former chief of staff accuses WeWork and its co-founder of discriminating against women, Shares in Pinterest fall after the company reported third-quarter revenues below expectations and Altria writes down the value of its investment in Juul by $4.5bn. Plus, the FT’s David Crow explains why European banks have run out of options to protect profits.    See acast.com/privacy for privacy and opt-out information.

The US Department of Justice strikes a deal with the Malaysian financier at the centre of the 1MDB scandal, Apple posts quarterly earnings showing strong accessory sales even as smartphone and Mac sales declined, and new documents reveal that Boeing pushed to limit expensive pilot training for its 737 Max jet. Plus, the Federal Reserve cut interest rates for the third time this year. The FT’s Jennifer Ablan explains what this signals about the central bank’s outlook for the US economy.  See acast.com/privacy for privacy and opt-out information.

British MPs set a general election for December 12, the owner of French carmaker Peugeot is in merger talks with rival Fiat Chrysler Automobiles to create a company worth more than $47bn, and US senators lash out at Boeing chief executive Dennis Muilenburg in his first appearance before Congress since the two fatal crashes of its 737 max jet. Plus, the FT’s Mehul Srivastava reports on a WhatsApp hack that led to the targeting of 100 journalists and dissidents.  See acast.com/privacy for privacy and opt-out information.

Alphabet revenues were hit by rising costs in the third quarter despite a strong performance by Google’s ad business, and UK prime minister Boris Johnson will push ahead with another attempt to set a December general election.  Plus, the FT reports that TikTok parent company ByteDance is planning to go public in Hong Kong next year, Beyond Meat posts its first quarterly profit since going public and the US House of Representatives will vote to formalise its impeachment inquiry. Then, Sir Richard Branson’s Virgin Galactic made its trading debut on Monday, becoming the first space tourism company to launch on to public markets.   See acast.com/privacy for privacy and opt-out information.

Alberto Fernández defeats Mauricio Macri to become the next president of Argentina, Lloyds Banking Group failed to pass on the wills of thousands of deceased customers to their families and President Donald Trump announces that Isis Leader, Abu Bakr al-Baghdadi, was killed by US special forces. Plus, the FT’s San Francisco correspondent Patrick McGee explains how Uber is trying to become the west’s first super-app.  See acast.com/privacy for privacy and opt-out information.

Amazon shares dropped as much as 9 per cent in after-hours trading on Thursday after the company reported lower profits than a year ago, Boris Johnson makes a fresh push for a UK general election, the European Central Bank keeps rates on hold at president Mario Draghi’s last policy meeting and Paris overtakes Berlin in tech start-up activity. Plus, leftwing populists are poised to retake power in Argentine elections on Sunday. The FT’s Colby Smith explains what this could mean for the country’s debtholders.  See acast.com/privacy for privacy and opt-out information.

Tesla shares soar 20 per cent in after-hours trade after posting a net profit in the third quarter, and Donald Trump says he will remove sanctions imposed on Turkey a day ahead of a Nato defence ministers meeting. Plus, WeWork plans to axe 4,000 jobs, European Council president Donald Tusk is trying to persuade leaders to back a Brexit delay and Boris Johnson’s government and party are split on whether to push for a general election. Then, the FT’s Washington correspondent, Kiran Stacey, unpacks Mark Zuckerberg’s defence of the Libra digital currency project.  See acast.com/privacy for privacy and opt-out information.

British MPs back Boris Johnson’s Brexit deal in principle, but derail his attempt to take the UK out of the EU by October 31, and US commerce secretary Wilbur Ross floats new talks with the EU as an alternative to imposing car tariffs next month.  Plus, the top US diplomat in Kiev says Donald Trump withheld Ukraine aid over a request to investigate political rivals, Turkey and Russia agree to the removal of Kurdish fighters from a buffer zone in north-east Syria, the Chinese government is drawing up a plan to replace Hong Kong leader Carrie Lam, and Snapchat’s parent company says it expects to hit its target of turning a profit by the end of the year. Then, FT industry editor Peggy Hollinger tells us what Boeing has to do to regain trust as it tries to get its 737 Max plane back in the air.   See acast.com/privacy for privacy and opt-out information.

Justin Trudeau’s Liberal party was set for a minority government win in Canada’s general election, SoftBank floats a $9.5bn proposal to take control of WeWork, Israeli prime minister Benjamin Netanyahu abandons attempts to build a governing coalition, researchers at IBM claim that Google is wrong to say it is the first to achieve “quantum supremacy” and three drug distributors, as well as two pharmaceutical companies, sketch out a $48bn proposal to settle lawsuits related to the US opioid epidemic.     See acast.com/privacy for privacy and opt-out information.

Boris Johnson makes a new attempt to win parliament’s backing for his Brexit deal on Monday, UK officials say a Russian cyberattack unit “masqueraded” as Iranian hackers to lead attacks against 35 countries and Standard Chartered chief executive Bill Winters is planning to accept a voluntary pay cut in response to a dispute over his pension allowance. Plus, Canadians will go to the polls in a general election today. FT contributor Jason Kirby reports on what is at stake for prime minister Justin Trudeau.   See acast.com/privacy for privacy and opt-out information.

Boris Johnson attempts to secure parliamentary support for his Brexit deal, Saudi Aramco postpones the launch of its long-awaited initial public offering and Facebook reveals a project to prevent minors from being exploited on its platforms. Plus, Turkey agrees to pause its military incursion in Syria as the US pledges to ease sanctions, and Mick Mulvaney, acting White House chief of staff, makes an admission regarding Donald Trump’s July phone call to Ukraine.  With Lauren Fedor, FT Washington correspondent.   See acast.com/privacy for privacy and opt-out information.

Brexit negotiators wrangle over the terms of a deal ahead of the start of Thursday’s EU summit, Netflix missed its forecast for new subscribers for the second straight quarter, thousands of Hong Kong’s wealthy residents are opening bank accounts in Singapore and other financial centres as they try to protect themselves against the territory’s unrest, IBM came up short of Wall Street’s revenue expectations in the latest quarter, the US House of Representatives voted to condemn president Donald Trump over his move to withdraw troops from Syria and American shoppers curbed their spending last month according to weak Commerce Department data.  See acast.com/privacy for privacy and opt-out information.

The US House of Representatives passed an act voicing strong support for Hong Kong pro-democracy protesters, and Boris Johnson was on Tuesday night locked in a race against time to secure a Brexit deal. Plus, the IMF slashes global growth forecasts, Rudy Giuliani refuses to comply with a congressional subpoena that is part of the impeachment inquiry investigating Donald Trump, and the price of WeWork’s bonds dropped to new lows on Tuesday. Then, the FT’s Laura Noonan tells us why some bankers are still optimistic about the IPO market, even after WeWork’s failed attempt to go public.  See acast.com/privacy for privacy and opt-out information.