Fed chairman Jay Powell warns that risks to global growth have increased in recent weeks, AbbVie investors give the US drugmaker a resounding thumbs down on its bid to buy Botox-maker Allergan and FedEx warns that a slower global economy and trade uncertainty will continue to drag on its business in 2020. Plus, the FT’s banking editor, David Crow, explains how a host of digital upstarts could challenge HSBC’s dominance in Hong Kong. 

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