EU’s Andreas Schwab responds to White House criticism of EU tech regulation
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 12 July 2021
⏱️ 10 minutes
🧾️ Download transcript
Summary
The rapid spread of the Delta coronavirus variant is causing concern about Europe’s economic recovery, and the number of start-ups valued above $1bn grew rapidly in the second quarter. Plus, the FT’s EU correspondent, Javier Espinoza, interviews the influential European Union lawmaker who is steering the EU’s flagship tech regulation through Parliament and wants to target the top US tech companies.
Delta variant surge casts doubt over Europe’s economic rebound
https://www.ft.com/content/1f9c18cf-706c-4d9c-9764-d3c088bdc1a2
EU should focus on top 5 tech companies, says leading MEP, by Javier Espinoza
https://www.ft.com/content/49f3d7f2-30d5-4336-87ad-eea0ee0ecc7b
Billion dollar ‘unicorns’ hit record numbers as valuations surge, by Miles Kruppa
https://www.ft.com/content/ccfc6bbd-56b6-4cef-b89d-4f88ceb7b126
Richard Branson touches the edge of space
https://www.ft.com/content/bf3130f4-5f62-4f9d-941a-d1db98dc0233?
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Monday, July 12th. This is your FT news briefing. |
| 0:08.8 | Economists are worried the Delta coronavirus variant could derail Europe's economic recovery. |
| 0:14.5 | And there were a record number of unicorns born last quarter, and no, we're not talking about |
| 0:19.6 | the mythical creatures. We'll tell you more about that. Plus, we'll hear from a European lawmaker |
| 0:24.8 | who wants EU tech regulation to target American companies. But he claims he isn't being anti-American. |
| 0:31.4 | We hope for sure that soon we will also have European companies in that size, and then these |
| 0:36.4 | rules will also apply to them. I'm Mark Filipino, and here's the news you need to start your day. |
| 0:48.7 | Europe has lifted most pandemic lockdown measures in recent months, and there's been a surge in |
| 0:53.7 | business activity and retail spending. Most economists have upgraded their growth forecasts. |
| 0:59.2 | But now there's worry that the spread of the Delta coronavirus variant plus the new lockdowns |
| 1:04.8 | and travel restrictions could undermine this recovery. The Delta variant is extremely infectious, |
| 1:10.8 | and it already accounts for most new cases in a lot of European countries. It's driving infection |
| 1:16.0 | rates up to their highest level in months. Just last week, Germany and France warned citizens |
| 1:21.2 | against traveling to Spain, which is a huge blow to that country's tourism industry right at |
| 1:26.0 | the start of the crucial summer season. Also last week, the Netherlands said it would reintroduce |
| 1:31.0 | restrictions because of a big rise in the country's daily infection rate. On the flip side, |
| 1:36.0 | some economists say most infections have been among younger people, or less likely to fall |
| 1:40.4 | seriously ill, and hospitalizations and deaths from the virus remained very low. |
| 1:51.6 | European lawmakers are moving forward with their flagship tech regulation, the Digital Markets Act, |
| 1:57.6 | and the man steering it through Parliament is the German lawmaker and the big tech critic, |
| 2:02.0 | Andreas Schwab. He says he wants the regulation to focus on the five biggest tech giants. |
| 2:07.6 | Google, Amazon, Apple, Facebook, and Microsoft, all US companies. The Biden White House warned |
... |
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