Welcome to the world in 60 seconds from First FT. The South Korean president has been removed from office after a panel of judges upheld an earlier parliamentary impeachment vote. At least, two people were killed in protests that erupted after the verdict. Park Geun-hye is the country's first democratically elected leader to be stripped of her powers. A presidential election must now be held within 60 days.
The value of the euro has jumped after the European Central Bank claimed that quantitative easing has been successful in fighting inflation. ECB head, Mario Draghi, agreed to keep interest rates at record lows. Instead, the bank didn't expect to further lower rates. Investors saw the remarks as a sign that ECB was preparing to pare back its historic bond buying programme.
And Airbnb has raised a billion dollars to provide fresh funds for its expansion into new areas, such as travel tours and luxury rentals. The fund raising, which values the group at about $30 billion will further delay any prospect of an IPO. And it's unlikely to follow snap onto the public market within the next year. For of today's top stories go to ft.com/firstft.