PRESS DIGEST-Financial Times - August 7
The US unexpectedly sold euros to boost the yen, catching the European Central Bank off guard, while several major companies face financial challenges.
- Country:
- United States
The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines
US euro sale to prop up yen blindsided ECB Naval parts supplier Goodwin explores sale of defence business
Billionaire’s financial data group Ion chased by landlords for overdue rent US court tells Meta to pay nearly $1bn penalty over social media harm to children
Overview Washington's sale of euros to boost the yen late last week blindsided the European Central Bank, with the US only informing its counterparts in Frankfurt after the historic currency intervention.
Goodwin, the 143-year-old British component supplier for the Dreadnought next-generation nuclear deterrent submarines, is in talks to sell its defence business. Billionaire Andrea Pignataro’s financial technology group Ion missed rent payments on offices in three continents this year, prompting landlords to cut off access or threaten the heavily indebted company with eviction.
Meta must pay an additional $567mn in compensation and increase the safety features on its apps to address the harm they cause to children, a New Mexico judge ordered on Thursday. (Compiled by Bengaluru newsroom)
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