Apple countersues Epic Games, Slack revenue growth slowdown, Brexit friction

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.4 • 1.3K Ratings

🗓️ 9 September 2020

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Workplace messaging app Slack forecast a sharp revenue slowdown in the current quarter from the loss of customers due to the economic downturn, Apple has countersued Epic Games and accused it of masquerading as a “modern corporate Robin Hood”, and a look at SoftBank’s role as the “Nasdaq whale”. Plus, the FT’s Peter Foster explains how the UK is in danger of jeopardizing its Brexit withdrawal agreement with the EU.

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Transcript

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0:00.0	Good morning from the Financial Times.
0:02.0	Today is Wednesday, September 9th,
0:04.3	and this is your FT news briefing.
0:08.4	Apple is continuing its epic battle with epic games.
0:11.9	Slack is missing the boat on the work from Home Boost other tech companies have seen,
0:16.0	and we'll take a look at the ripple effects from Soft Bank's big bets on tech stocks.
0:21.0	Plus Downing Street is expected to publish a bill today that's
0:24.5	causing friction between the UK and the EU. So what happens if this undermines the
0:30.1	Brexit withdrawal agreement? I'm Mark Filipino and here's the news you need to start
0:35.3	your day. We start with two stories out of Silicon Valley.
0:44.0	First, Apple is escalating the legal battle with Epic Games.
0:47.7	Epic, of course, is the maker of the hit Fortnite game.
0:50.9	Last month it sued Apple for taking a 30% cut of app revenues.
0:55.0	The game was thrown out of Apple's App Store for trying to get around the policy.
0:59.0	And yesterday, Apple countersued Epic, saying it breached its contract.
1:05.0	Apple is seeking compensatory and punitive damages from Epic.
1:09.0	Apple even went as far as to accuse Epic of masquerading as a
1:13.0	modern corporate Robin Hood,
1:15.0	the Sharewood Forest Kind, not the app.
1:18.0	Meanwhile, Slack itself had a rough return from the Labor Day weekend.
1:22.0	The company expects revenue to grow about 33%
1:25.6	this quarter compared with the 49% jump last quarter. And it's a bit of a missed opportunity
	...

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