Corporate America fumes at Biden’s economic package
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 10 August 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
Taiwanese national security officials want to force Apple supplier Foxconn to unwind an $800mn investment in a Chinese chip company, and corporate America is fuming over president Joe Biden’s economic package. Plus, we have a military update on the war in Ukraine, and how tennis legend Serena Williams plans to spend her retirement.
Mentioned in this podcast:
Taiwan security officials want Foxconn to drop stake in Chinese chipmaker
Corporate America fumes over Biden’s tax and climate package
Serena Williams to retire from tennis after US Open
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. 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 FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.8 | Good morning from the Financial Times. |
| 0:11.5 | Today is Wednesday, August 10th, and this is your FT News Briefing. |
| 0:18.4 | President Joe Biden's economic package looks like it's going to pass, |
| 0:21.9 | and the corporate America isn't too happy about it. |
| 0:24.8 | We'll get an update on Russia's invasion of Ukraine and |
| 0:28.0 | tennis legend Serena Williams is retiring. |
| 0:30.9 | We'll look at what's next for her. |
| 0:33.1 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:44.0 | One of Taiwan's biggest technology companies is stuck in the middle of heightened US |
| 0:48.4 | China tensions. Foxconn is a major contract manufacturer for Apple and other tech giants. |
| 0:54.5 | Now Taiwanese officials want to force Foxconn to unwind a big investment |
| 0:59.2 | it just made in a mainland Chinese chip company. |
| 1:02.5 | The move comes as Beijing escalates threats towards Taiwan, which it considers its own territory. |
| 1:08.0 | Taipei's move to unwind Foxconn's $800 million investment in China is seen as a way |
| 1:13.4 | to align itself more closely with the US. Taipei is concerned that Foxconn's investment in the |
| 1:19.0 | mainland company could bolster China's tech ambitions and give China an edge over the US. |
| 1:25.3 | President Joe Biden's tax and climate package looks like it's going to pass the House of |
| 1:34.0 | Representatives and become law in just a few days. It's a huge win for the President |
| 1:39.2 | and Democrats, but the tax part of it has left America's biggest companies very unhappy. |
| 1:45.6 | The FT's Washington Bureau Chief James Politi explains, |
... |
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