Friday, September 20

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.4 • 1.3K Ratings

🗓️ 20 September 2019

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Saudi Arabia is pressuring wealthy families to buy in to the initial public offering of state oil giant Saudi Aramco, the Federal Reserve intervened in the US money markets for the third day in a row on Thursday and promised it would so again today, Sterling climbed back over the $1.25 mark on Thursday after European Commission president Jean-Claude Juncker said a Brexit deal was possible, and companies are racing to burnish their green credentials ahead of today’s global climate protest. Plus, the FT’s Anna Nicolaou tells us why Netflix is starting to look vulnerable.

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Transcript

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0:00.0	The UK's energy partner.
0:06.0	Learn more at equinore.
0:10.0	Good morning from the newsroom of the Financial Times.
0:12.0	Today is Friday, September 20th. Good morning from the newsroom of the Financial Times.
0:12.5	Today is Friday, September 20th, and this is your FT news briefing.
0:18.4	Saudi Arabia is bullying wealthy families
0:20.9	into buying into Saudi Aramco's IPO.
0:24.2	The Federal Reserve intervened in the U.S. money market for the third straight day on Thursday.
0:29.7	Sterling climbed yesterday after the European Commission President instilled some hope for a Brexit deal, and companies
0:36.1	are bracing for employee walkouts in anticipation of today's global climate protest.
0:41.8	Plus the FT's Anna Nicololow dives into the history and unclear future of
0:46.8	Netflix. I'm Mark Filipino and here's the news you need to start your day.
0:55.4	Saudi Arabia is looking to achieve a $2 trillion valuation for Saudi Aramco's initial public
1:01.0	offering.
1:02.0	And the kingdom seems prepared to pull out all the stops to get it.
1:06.7	Several sources told the FT that the aim was to strong arm and bully some of the wealthiest
1:12.4	families in the kingdom, so that they would become
1:14.8	cornerstone investors in the IPO. It's all part of a plan to build confidence in the
1:20.0	Saudi Aramco deal. Many of the family's targeted members were at one point imprisoned in Riyadh's Ritz-Carlton Hotel.
1:28.5	Sources said some of the detainees said they were tortured and later freed after they reached financial settlements with the state.
1:36.1	The Saudi Aramco initial public offering has been billed as the world's biggest ever IPO.
1:42.0	But things have looked shakier after last weekend's attacks on Saudi Arabia's
	...

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