25 July 2019 FT — Articles to Read

25 July 2019


Question: Where is American’s highest minimum wage?


Beijing warns it can send army into Hong Kong – Pg. 3

  • Chin’s defense ministry has said the people’s Liberation Army can legally intervene to help Hong Kong “maintain social order” if requested to do so by the territory’s government, as the Asian financial centre enters its third month of protests
  • The demonstrations in Hong Kong began as a protest against an extradition bill that would allow suspects to be sent to mainland China for trial. They have since expanded to target the territory’s leader, chief executive Carrie Lam, as well as Beijing
  • …for many years after the military crackdown on pro-democracy protests in 1989 that culminated in the crushing of demonstrations in Beijing’s Tiananmen Square, China has avoided high-lighting any domestic role for the PLA in areas such as the suppression of dissent or crowd control


Eurozone industry hits six-year low – Pg. 4

  • The woes of the eurozone’s manufacturers are worsening, with a gauge of the export-dependent sector hitting its lowest level in more than six-and-a-half years this month
  • While the reading is only the latest piece of evidence that manufacturing in the region remains under pressure from Brexit and trade frictions, there are few signs this is feeding through into the dominant services sector


WeWork aims for IPO in buoyant market – Pg. 15

  • WeWork is aiming to publicly list its shares as early as September while stock markets remain buoyant, as the lossmaking provider of shared office space races to sew up a multibillion-dollar debt facility in the next few weeks….
  • The $47bn group, which filed paperwork for an IPO confidentially with US securities regulators latest last year, could make those plans public as early as next month, …
  • That fundraising could add more than $5bn to WeWork’s cash pile, one of the sources added, which would go to buttressing the company’s balance sheet and reduce the amount of capital it would need to raise in its listing
  • WeWork has relied on cash injections to fund that growth and cover its rising losses. The group has racked up a deficit of more than $3.5bn since 2016, which has drained its cash reserves.  Its cash and cash commitments dropped by $700m in the first quarter to $5.9bn


Funds prepare for future with pitch to millennials – Pg. 19

  • Asset managers are crafting strategies to back companies that can capture millennials’ preferences – at a time of unrelenting pressure on their own top lines
  • Investment products that target millennials naturally include technology stocks but also focus on builders that specialize in starter homes, and apparel companies
  • Millennials’ preference for low-cost products could also limit the contribution of themed funds to revenues


Answer: According to MSN, the San Francisco suburb of Emeryville @ $16.30/hour