13 August 2019 FT — Articles to Read

13 August 2019


Question: In the US, how many acres are dedicated to growing hemp?


KPMG forced out senior partner after probe into conduct on messaging app – Pg. 11

  • KPMG has forced out the head of one of its core businesses after an investigation into his conduct involving messages sent on WhatsApp


NZ legalizes salaries paid in digital currencies – Pg. 17

  • New Zealand has become the first country to legally back companies that are paying employees in cryptocurrencies, in a move that brings the often maligned asset class in line with mainstream forms of payments
  • Cryptocurrencies are largely unregulated digital currencies that enable users to send money online without being tracked
  • The ruling by New Zealand’s tax authority allows salaries and wages to be paid in cryptocurrencies such as bitcoin from September 1, as long as the payments are in regular, fixed amounts
  • The digital currency of choice must also be pegged to at least one regular currency and must be able to be converted directly into a standard form of payment


Corporate America frets over rising toll on profit from trade war with China – Pg. 17

  • Corporate executives in the US are growing increasingly nervous that the trade spat with China will dent their companies’ profits
  • About 70% of the companies that mentioned tariffs specifically were negative, up from 50% last quarter
  • The fading sentiment came as the world’s two largest economies prolonged their stand-off over trade, denting investor confidence that US-listed companies exposed to China will be spared
  • The worsening outlook came as US corporate profit growth has slowed


Answer: 128,320