Brussels strikes back against Big Tech
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 26 June 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
Shares of electric vehicle start-up Rivian surged in extended trading after Volkswagen announced a plan to invest up to $5bn, global investment in clean energy is set to hit $2tn and the EU charged Microsoft for violating antitrust laws yesterday. Plus, the FT’s Emma Agyemang explains why a deadlock in the US Senate is threatening to upend a global tax treaty.
Mentioned in this podcast:
Rivian shares soar on Volkswagen plan to invest up to $5bn
Clean tech investment set to hit $2tn in 2024
EU charges Microsoft with antitrust violations over Teams
Global tax truce frays over fears of US Senate deadlock
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The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song 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 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | At Aquinore. UK. Good morning from the Financial Times. Today is Wednesday, June 26th, and this is your |
| 0:17.6 | F.T. News briefing. |
| 0:20.0 | So because Washington can't get its act together, a new global tax treaty is on the brink of collapse. |
| 0:27.0 | And trillions of dollars in investments are going towards clean energy. |
| 0:32.0 | Plus Brussels is rolling out its new heavyweight champ against big tech. |
| 0:36.5 | The EU moves very, very slowly, but when it does, you can see the damages that it can potentially create. |
| 0:45.0 | I'm Mark Filipino, and here's the news you need to start your day. Volkswagen is getting serious about its electric vehicle game. |
| 1:05.0 | The German carmaker is investing up to $5 billion in Rivian, an American |
| 1:10.3 | EV startup. |
| 1:11.3 | It makes those state-of-the-art electric trucks you might have seen |
| 1:14.2 | driving around town. It's all in an effort to beef up Volkswagen's software. |
| 1:19.2 | It will get immediate access to Rivian's platform once the deal is finalized. |
| 1:24.3 | And it needs a W when it comes to EVs. |
| 1:27.6 | Volkswagen is trailing behind competitors like Tesla and China's B-Y-D. |
| 1:32.9 | The 50-50 venture is a big deal for Rivian 2. |
| 1:35.9 | The startup has really been struggling since it went public back in 2021, |
| 1:40.0 | but its share price jumped as high as 56% in after hours trading on yesterday's news. |
| 1:46.0 | Now on to Brussels, the European Commission charged both Apple and |
| 1:56.7 | Microsoft this week for violating antitrust laws. |
| 1:59.9 | It's part of an unveiling of sorts for the Block's Landmark Digital Markets Act. |
... |
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