|3 THINGS THAT WILL CHANGE THE WORLD TODAY|
Good morning, here’s your Wednesday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.
Britain faces up to Brexit slowdown
The British economy is experiencing a slowdown in growth as a result of Brexit.
This is according to the National Institute for Economic and Social Research (NIESR) which, in its quarterly forecast for the UK and global economies, changed its forecast for UK GDP from 1.9% to 1.5% for 2019. This is due to Brexit-related uncertainty.
This prediction is based on a ‘soft’ Brexit, so the outcome of a no-deal Brexit could be even worse.
In terms of the global economy, the NIESR believes that global growth has peaked and will level off at around 3.5% over the next two years, and indicates that tariff increases and trade disputes, such as the ongoing dispute between the US and China, will likely have a negative effect on global economic outlook. ,
Softbank announces key results
The global corporation Softbank announces its quarterly profits today and is expected to pin future growth on the climb of 5G services.
President and chief executive officer at Softbank Mobile Ken Miyauchi said at an earnings briefing, reported by Reuters: “5G smartphones in a few years will probably take over the entire world”, which is a popular sentiment in telecoms.
The Japanese group has been investing heavily in future tech, with links to some of the world’s most successful and controversial startups, like Uber.
But controversy around the death of Jamal Khashoggi also affected Softbank because of its links with the Saudi Arabian Government.
Company shares dropped 26% from the time of the columnist’s disappearance in October, before the group’s second-quarter results last November.
Iridium makes “major” announcement
US satellite company Iridium is expected to make a “major” announcement today. The details are scarce: all we know is that the news will be revealed during a press conference at the National Press Club in Washington DC.
Iridium’s mobile voice and data satellite communications network provides pole-to-pole L band coverage to people and organisations in real-time.
Last month Elon Musk-owned SpaceX launched the final 10 Iridium NEXT satellites to low Earth orbit, completing the 75-strong satellite constellation.
Given that January’s launch completed the NEXT constellation, Iridium’s announcement could instead involve some new form of satellite technology or perhaps a new partnership back on Earth.
You can watch a live stream of the press conference here at 10am ET (3pm GMT).