Press Digest: Financial Times - October 23
PRESS DIGEST-Financial Times - October 23 Oct 23 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
- OpenAI trims valuation target to $1.25 trillion after pitching higher price
- Donald Trump ordered to face BBC questioning in $10 billion defamation lawsuit
- Shell and Exxon's $8 billion UK chemicals unit put up for sale
- Turkey cuts interest rates despite $18 billion investment funds scandal
Overview
- OpenAI has cut its valuation target for its latest funding round, being in the final stages of a deal which is expected to value the company at $1.25 trillion as the ChatGPT maker pushes to raise $30 billion before going public next year.
- A US federal judge ordered Donald Trump to sit for a deposition by December 11 in his $10 billion defamation lawsuit against the BBC, which has accused the US president of stalling to avoid answering questions under oath.
- Infineum, a UK-based chemicals group backed by Shell SHEL.L, is exploring an $8 billion sale, as the energy major tries to refocus on its core oil and gas operations.
- Turkey's central bank lowered its key interest rate by 100 basis points to 36% in line with market expectations, having left it unchanged at the previous five meetings as it monitored the inflation impact of the Iran war.
(Compiled by Bengaluru newsroom)