Big Tech is losing a battle with Brussels
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 22 September 2025
⏱️ 14 minutes
🧾️ Download transcript
Summary
US companies may have to pay billions in new fees to hire foreign workers, and US tech groups are losing a political battle in Brussels to gain access to the EU’s financial data market. Plus, the UK joined Canada and Australia in recognising a Palestinian state on Sunday, and a Chinese retail giant is facing some growing pains on its European expansion plans.
Mentioned in this podcast:
Trump’s H-1B visa fee to hit US employers with $14bn annual bill
EU to block Big Tech from new financial data sharing system
UK, Canada and Australia recognise Palestine as an independent state
Will Benjamin Netanyahu annex the West Bank?
China’s rival to Amazon battles to go global after failed UK bids
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Today’s FT News Briefing was produced by Ethan Plotkin, Victoria Craig, Katya Kumkova, Sonja Hutson, and Marc Filippino. Additional help from Alexander Higgins and Peter Barber. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | For over 40 years, Equinoor has been an energy partner to the UK. |
| 0:04.1 | During that time, we've played our part in the switch from coal to gas, |
| 0:07.1 | and we're working hard to help the UK's energy transition. |
| 0:10.1 | We may not have all the answers yet, but we're determined to find them. |
| 0:13.5 | Equinor, an energy company, searching for better. |
| 0:16.9 | 99.6% of Equinor's energy output is oil and gas. |
| 0:20.5 | Our investment in renewables and low carbon solutions |
| 0:22.9 | has increased from 4% in 2020 to 27% in 2024. Find out more at equinor.com. UK. |
| 0:33.7 | Good morning from the Financial Times. Today is Monday, September 22nd, and this is your FT News briefing. |
| 0:41.1 | Visas for skilled foreign workers in the U.S. are getting a lot more expensive, and Europe looks to |
| 0:47.2 | protect its digital sovereignty from U.S. big tech. Plus, a Chinese retail giant is struggling with |
| 0:53.5 | its European expansion plans. |
| 0:56.0 | J.D. is really desperate for growth outside of China. For a company of this size, it's |
| 1:02.3 | absolutely imperative that it needs to go global. I'm Victoria Craig, and here's the news you need |
| 1:08.4 | to start your day. |
| 1:24.7 | $14 billion. That's how much U.S. companies could rack up in new fees next year if they want to hire as many skilled foreign workers as they did in 2024. |
| 1:29.1 | It comes after President Donald Trump on Friday signed a proclamation introducing a $100,000 |
| 1:34.3 | application fee for new H-1B visas. The rule is designed to encourage companies to hire more American |
| 1:41.0 | employees, but would hit the U.S. tech industry particularly hard, |
| 1:45.1 | as Silicon Valley relies heavily on the program for engineers, scientists, and coders. |
| 1:50.6 | Critics say the order could be a boon to foreign tech companies looking to hire the world's best and brightest. |
| 1:56.3 | The rule could also face legal challenges. |
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