Fears of regulation lead to cryptocurrency chaos
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 20 May 2021
⏱️ 9 minutes
🧾️ Download transcript
Summary
US companies have urged South Korea’s president to free Samsung’s jailed chairman and argue the billionaire executive could boost American efforts to shake off the country’s dependence on computer chips produced overseas. Swedish oat milk producer Oatly raised $1.4bn in its initial public offering on Wednesday,
Plus, the FT’s Trading Room editor, Philip Stafford, explains how a warning from Chinese regulators led to a chaotic day for cryptocurrency traders.
US companies lobby South Korea to free jailed Samsung boss
https://www.ft.com/content/26d77bfe-b55a-4edb-bc57-7370b6c6a670?
Entrepreneur behind Oatly’s rapid expansion faces US market test
https://www.ft.com/content/e37d6985-5c48-46f4-8b02-a67c1a6dfd01
Bitcoin gyrates on fears of regulatory crackdown
https://www.ft.com/content/c4c29bb3-c8ee-454c-a2dd-eac9f644007f
Japanese pensioners with US stimulus cheques descend on Tokyo banks
https://www.ft.com/content/102e0104-ca6f-4d59-be1b-90860426d5a5?
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Thursday, May 20th, |
| 0:03.6 | and this is your FT News Briefing. |
| 0:08.4 | The chair of Samsung is sitting at a prison on the outskirts of Seoul, |
| 0:12.5 | and US businesses want him released. We'll explain why. |
| 0:16.8 | And crypto currencies cratered after a warning from Chinese regulators. |
| 0:21.1 | But was it really just that? |
| 0:24.1 | It doesn't always take a lot to move this market. It's a little bit like a flock of birds that you |
| 0:29.5 | see that all of a sudden change direction need a virtual life. |
| 0:33.1 | And the biggest name and alternative milk is said to hit the public markets today. |
| 0:37.5 | We'll see what kind of appetite investors have for Oatley. |
| 0:41.2 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:49.0 | South Korea's president is said to meet with US President Joe Biden tomorrow, |
| 0:53.1 | and US companies are prodding President Moon Jae-in to free the chairman of Samsung. |
| 0:57.9 | His country's most powerful conglomerate. |
| 1:00.3 | Lee Jae-in is serving a year and a half sentence for |
| 1:03.1 | bribing a former South Korean president. |
| 1:05.6 | The FT has seen a letter from the American Chamber of Commerce in Korea to President Moon. |
| 1:10.2 | It says the strategic partnership with the US is at risk if Samsung is not more fully engaged |
| 1:15.8 | in Biden's efforts to try and strengthen the US semiconductor industry. |
| 1:20.2 | The pressing need for America to build up its domestic production has been highlighted by the |
| 1:24.4 | global chip shortage. Samsung, meanwhile, has been weighing big chip investments in the US. |
| 1:30.0 | Samsung's chair still controls the company, but apparently he can't make split second decisions |
... |
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