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FT News Briefing

Business sends Biden a message, Vestager warns against patchwork tech regulation across Europe

FT News Briefing

Forhecz Topher

News, Unknown, News & Politics, Daily News

4.41.2K Ratings

🗓️ 21 January 2021

⏱️ 12 minutes

🧾️ Download transcript

Summary

Company leaders have warned they will fight Biden Administration moves to raise corporate taxes and tighten regulation, and earnings reports show that big US banks had a strong end to 2020 thanks to trading. Plus, the FT’s Javier Espinoza continues his conversation with the European Commission’s competition and digital policy chief, Margrethe Vestager, about the future of big tech regulation. 


Business to Biden: prepare for a fight over tax and minimum wage

https://www.ft.com/content/7027014e-9478-4320-97ee-a1c8144b4638


Vestager warns Big Tech to cooperate or face patchwork of laws across EU

https://www.ft.com/content/2bd619a2-dee0-492a-b397-73a0ba00e369


Morgan Stanley posts record profit as trading booms

https://www.ft.com/content/0f44d1b7-d79f-4c2a-b45e-d4c2d0ce4637



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Transcript

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0:00.0

Good morning from the Financial Times.

0:01.6

Today is Thursday, January 21st.

0:04.0

This is your FT news briefing.

0:06.4

Joe Biden is sworn in as the 46th President of the United States.

0:13.2

And corporate America tells him he can have everything he wants.

0:16.9

Europe's top official for digital policy

0:18.9

talks to us about the EU's landmark proposal

0:21.3

to regulate big tech. When you do business and you're successful,

0:25.0

well we will applaud you, but with success and strength and power

0:30.0

also comes responsibility.

0:32.0

And the latest quarterly earnings showed the top U.S. banks are in pretty good shape.

0:37.0

But what does that mean for the rest of the economy?

0:39.0

We'll take a closer look.

0:41.0

I'm Mark Filipino, and here's the news you need to start your day.

0:49.3

Joe Biden's inauguration speech covered many of the things he wants to tackle over the next four years,

0:54.4

but he zeroed in on one goal in particular.

0:57.1

To restore the soul and secure the future of America requires so much more than words the most elusive of all things in a

1:07.9

democracy, unity. The heavily guarded celebration had no security issues despite concerns stemming from the attack on the capital two weeks ago.

1:17.0

The major U.S. stock indices ended the trading day higher, buoyed by hopes for Biden's stimulus plan, and American business leaders have backed the

1:25.2

new president.

1:26.7

But as the F.T.'s U.S. business editor Andrew Edgcliffe Johnson reports, executives

1:31.2

are also signaling areas where they won't give in.

...

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