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🗓️ 9 February 2021
⏱️ 8 minutes
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EU lawmakers want to force Big Tech companies to pay for news, echoing a similar move in Australia, Tesla’s $1.5bn investment in bitcoin sends the cryptocurrency to record highs, and oil hits $60 a barrel for the first time in a year. Plus, the FT’s Tokyo correspondent, Kana Inagaki, explains what drove SoftBank’s Vision Fund to have its best quarter in four years.
EU ready to follow Australia’s lead on making Big Tech pay for news
https://www.ft.com/content/4c40c890-afd3-40a3-9582-78a66c37a8af
Tesla sends bitcoin to record high with $1.5bn investment
https://www.ft.com/content/5e83f15e-ea2c-4d2f-8ae8-bf72fc5effd0
Oil hits $60 for first time in a year as supply cuts outweigh lockdowns
https://www.ft.com/content/3032d80d-89b0-4020-922e-f4fa15435b5d
SoftBank’s Vision Fund posts best quarter since launch in 2017
https://www.ft.com/content/c2f107a7-734d-450a-bf46-eb68a65ceaf4
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0:00.0 | Good morning from the Financial Times. Today is Tuesday, February 9th, and this is your F-T news briefing. |
0:08.6 | After a push by Australia, the EU is considering whether to make big tech pay for news. |
0:14.4 | Tesla puts a ton of weight behind Bitcoin, and yesterday oil prices hit a level not seen since early |
0:20.8 | last year. Plus, SoftBank's Vision Fund had its best quarter since launching in 2017. We'll take a |
0:27.2 | look at which bets lifted the technology giant. I'm Mark Filipino, and here's the news you need to |
0:32.6 | start your day. European lawmakers want big tech companies to pay for the journalism found on |
0:44.6 | their sites. They're echoing a move by Australian lawmakers who are set to pass a law that would do |
0:50.1 | just this. Now this kind of regulation helps publishers, but they're strong pushback from Silicon |
0:56.2 | Valley. For a little context, I spoke with the FT's Global Media Editor, Alex Barker. |
1:27.0 | A kind of consensual agreement on how much that news was worth, then they could end up in |
1:32.6 | binding arbitration, and the price would be set for Google, and they really don't like that idea. |
1:39.2 | In Europe, they've kind of taken that approach in Australia, found some elements of it interesting, |
1:46.7 | and they're saying, look, why don't we bring this into EU law? There's lots of laws working |
1:51.5 | through the system at the moment. Why don't we bring that in and try and strengthen the kind of |
1:56.8 | copyright rules that we'd already reformed to make sure that that imbalance between publishers |
2:03.7 | and tech groups is addressed properly? So Alex, are there any issues with the Australian model that |
2:10.0 | we're talking about here? Well, Google and Facebook have been very vocal about the issues they face |
2:16.4 | in Australia. Fundamentally, they say it's unworkable, and it tries to force the hand of platforms |
2:26.0 | in a commercial negotiation for content that they don't see as a commercial necessity. They don't |
2:32.6 | think it brings the value to their platforms that the publishers do, and what they see happening |
2:39.7 | in Australia is the construction of a legal framework that's basically taking their money |
2:46.7 | and distributing it to publishers. For that reason, I mean, Google have been very strong about |
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