Google hit with another antitrust case, Brexit fears lead to stockpiling, Fed stress tests
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 18 December 2020
⏱️ 11 minutes
🧾️ Download transcript
Summary
Dozens of states and territories have launched the first US antitrust challenge to Google’s core search engine, and a surge of stockpiling by UK companies before the end of the Brexit transition period on January 1 has triggered road congestion in southern England and France. Plus, the FT’s Laura Noonan explains what we can expect out of the Federal Reserve’s stress test today and what they will tell us about US banks’s ability to handle the panemic.
Google accused of abusing search monopoly as antitrust cases mount
https://www.ft.com/content/709849fc-4148-4687-9924-0c61f0447f2d
Brexit trade talks hit by fresh dispute over state aid
ft.com/content/2f508f4d-22e2-4deb-8d42-77a7c31fc53c
Brexit stockpiling triggers cross-Channel freight crunch
https://www.ft.com/content/77443600-8b40-47af-a807-60612ef2d928
Global regulators to examine banks’ lending caution during pandemic
https://www.ft.com/content/6a09e064-9b94-4080-b696-5d347067eb4e
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:01.6 | Today is Friday, December 18th, |
| 0:03.6 | and this is your FT news briefing. |
| 0:08.4 | Another day, another antitrust case |
| 0:10.8 | against a big tech company. |
| 0:12.4 | We'll explain who's going after Google this time. antitrust case against a big tech company. |
| 0:12.6 | We'll explain who's going after Google this time. |
| 0:15.7 | And worries over Brexit are prompting UK companies to stockpile. |
| 0:19.9 | Plus the Federal Reserve comes out with the results of its latest round of stress tests today. |
| 0:25.0 | We'll see whether the Fed thinks banks can handle the ongoing pandemic. |
| 0:29.0 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:34.0 | A group of more than three dozen U.S. State Attorneys General yesterday filed an antitrust challenge to Google's core search engine. |
| 0:47.0 | It's the latest in a flurry of lawsuits against the company. |
| 0:50.0 | Another challenge comes from a separate group of 10 Republican attorneys general and there's another from the US Department of Justice |
| 0:57.8 | The F.T's Richard Waters has been covering this and I asked him what's behind these challenges? |
| 1:11.0 | Well, I mean, to put it, it's most basic, the politicians and the law enforces in the US are making up for lost time. It is eight years since the Federal Trade Commission came very close to |
| 1:16.1 | filing a lawsuit against Google. Since then nothing has happened and Google and the other |
| 1:21.4 | tech companies have just got bigger and more powerful. |
| 1:24.6 | So we're seeing these cases proliferate because people are falling over themselves to get cases |
| 1:30.0 | in. |
| 1:31.0 | I think there are two things in particular that are worth bearing in mind. |
| 1:34.0 | One is just that Google is a very complex business. |
... |
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