Dems warn against loosening bank capital requirements, Rupert Murdoch at 90
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 2 March 2021
⏱️ 9 minutes
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Summary
Two senior Democratic lawmakers have warned the Federal Reserve that it would be a “grave error” to extend looser capital requirements for US banks. ExxonMobil appointed two new board directors on Monday to placate activist shareholders and the former French president Nicolas Sarkozy was sentenced to three years in prison on Monday. Plus, the FT’s global media editor Alex Barker looks back on Rupert Murdoch’s media empire and what succession looks like for the mogul.
Democratic senators call for tougher capital requirements for US banks
https://www.ft.com/conent/44792b80-c331-44e3-b02c-41a151f4cb6c?
Exxon adds two board directors in wake of activist pressure
https://www.ft.com/content/be866c6f-bbff-4500-927b-49e02b7b9023
Nicolas Sarkozy sentenced to jail for corruption
https://www.ft.com/content/1f2fe078-34f7-4665-afd7-a829082c7874
Rupert Murdoch at 90: Fox, succession and ‘one more big play’
https://www.ft.com/content/d9719c27-5e95-49c3-a534-2796196c6af7
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Tuesday, March 2nd. |
| 0:03.7 | And this is your FT News Briefing. |
| 0:08.7 | Democratic senators warned bank regulators about extending |
| 0:11.9 | looser capital requirements. Exxon mobile bends to pressure from |
| 0:15.7 | activists' shareholders, and a former French president is sentenced to jail for corruption. |
| 0:20.8 | Plus, Robert Murdoch turns 90 next week. Let's take a look at the media empire he built. |
| 0:25.8 | What's next for NewsCorp? I'm Mark Filipino, and here's the news you need to start your day. |
| 0:40.9 | Two prominent Democratic senators are warning the federal reserve and other U.S. regulators |
| 0:46.0 | against extending looser capital requirements for banks. In a letter seen by the FT, |
| 0:51.1 | senators Elizabeth Warren and Sherrod Brown said the decision at the beginning of the pandemic |
| 0:55.5 | to allow looser capital requirements have created new risks for the economy. |
| 1:00.0 | They added that it would be a grave error to extend them. |
| 1:03.6 | Bank say that if the relief isn't extended, it would be tougher for them to trade U.S. |
| 1:08.0 | government debt and extend credit to companies and consumers. |
| 1:17.2 | Exxon mobile is reeling from the worst year in its history. It had four consecutive quarterly |
| 1:22.4 | losses and ended up with a mammoth $22 billion deficit for 2020. |
| 1:27.7 | Activist shareholders have been pushing for a strategic overhaul, and on Monday, |
| 1:31.9 | Exxon mobile announced the appointment of two new directors to its board. |
| 1:35.8 | The FT's U.S. Energy Editor, Derek Brower, says the move seems to have |
| 1:39.4 | satisfied one activist investor, D.E. Shaw, but not the other one. |
| 1:44.3 | The other activist who's been much more public, engine number one, which is a new fund |
| 1:49.2 | created last year. Engine number one isn't so convinced that this is the right move. |
... |
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