EU pushes back on ‘too big to care’ tech companies
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 7 September 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
US and European corporate bond markets have started September with a bang, the EU released a list of digital services that will have to comply with the bloc’s new regulations, and the FT’s Alice Hancock explains how Europe’s drought is hitting the agriculture and energy industries.
Mentioned in this podcast:
US and European companies rush to issue debt before rate decisions
Big Tech faces fresh legal obligations as Brussels lists services bound by new rules
Retail investors power into uranium
Europe’s water crisis: how supplies turned to ‘gold dust’
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, 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 |
| 0:12.1 | Good morning from the Financial Times. |
| 0:13.7 | Today is Thursday, September 7th, and this is your FT News Briefing. |
| 0:18.8 | Corporate bond markets have started the month off with a bang. |
| 0:22.9 | The European Union's crackdown on big tech is getting real, |
| 0:26.5 | and investors are excited about Uranium. |
| 0:31.2 | Plus, Europe's drought is wreaking havoc on the agriculture and energy sectors. |
| 0:37.1 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:56.4 | You don't see weeks like this one in the corporate bond market often. |
| 1:00.8 | $34 billion worth of investment grade debt was issued in the US on Tuesday. |
| 1:06.8 | It was one of the top 10 strongest days in the history of the corporate bond market. |
| 1:12.3 | Meanwhile, Barclays, Nestle, and Toyota offered bonds yesterday. |
| 1:16.8 | So, why are companies rushing to issue debt like it's going out of style? |
| 1:21.7 | Well, markets normally spring back to life in September after taking a breather in |
| 1:26.0 | August, but also if you check your calendars, the European Central Bank has a meeting next week. |
| 1:32.1 | The Federal Reserve has a meeting in two weeks, so companies are trying to take advantage of |
| 1:37.5 | the fact that debt markets are relatively calm now before these two interest rate decisions. |
| 1:49.2 | The European Union announced a list yesterday of digital services that will have to |
| 1:53.6 | comply with the block's new regulations, think Apple's App Store or Google search function. |
| 2:00.2 | This is part of the EU's Digital Markets Act and the list targets services from six of the world's |
| 2:06.4 | biggest tech companies. Here's the FT's, Javier Espinoza. |
... |
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