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FT News Briefing

Meme ‘stonks’ and the market

FT News Briefing

Forhecz Topher

Daily News, News, News & Politics

4.41.3K Ratings

🗓️ 24 June 2021

⏱️ 12 minutes

🧾️ Download transcript

Summary

Read a transcript of this episode on FT.com

https://www.ft.com/content/eb36b605-47d9-465a-91f8-d47a4af45fae


Tech groups in Taiwan are accused of locking up migrant workers as coronavirus hits the sector, and the rapid rise in prices for raw materials has reversed a decades-long decline in the cost of solar energy. Plus, our global finance correspondent, Robin Wigglesworth, explains how financial memefication is evolving from a niche corner to grow deep roots in stock markets


Tech groups in Taiwan accused of locking up migrant workers

https://www.ft.com/content/4269650e-7660-4b80-b294-f81b4368784c


Solar power investors burnt by rise in raw materials costs

https://www.ft.com/content/2f8dd951-a1b1-410a-89dd-14728c56235d


How meme lords fuelled a boom in the ‘stonk market’

https://www.ft.com/content/e3304649-7348-424e-b354-e8da1c819364


Hosted on Acast. See acast.com/privacy for more information.

Transcript

Click on a timestamp to play from that location

0:00.0

Good morning from the Financial Times. Today is Thursday, June 24th.

0:03.7

And this is your FT News Briefing.

0:09.2

Solar Power investors are getting burnt by rising costs.

0:12.8

And some tech groups in Taiwan are accused of locking up workers because of COVID.

0:17.9

Plus, the rise of meme stocks like GameStop and AMC have been exciting to watch.

0:23.6

Our global finance correspondent talks about their impact on the market.

0:30.0

A mock or reflect reality to, in some respects, helping distort it.

0:36.4

I'm Mark Filipino and here's the news you need to start your day.

0:48.8

A COVID outbreak in Taiwan has tech manufacturers nervous about losing workers to the virus.

0:54.6

In some electronics groups, including a Foxconn subsidiary in the Japanese electronics brand,

0:59.6

a Canon are being accused of barring workers from leaving their dormitories,

1:04.0

except to go to work. And many of those workers are migrants.

1:08.1

A greater China correspondent, Katherine Hilla, broke this story.

1:11.6

I started reaching out to workers and worker groups.

1:14.8

And this served the People Association, which is a labor group that has supported migrant workers

1:20.6

for a long time. They just did a survey and they discovered that according to the hundreds of migrant

1:27.2

workers, they asked 60% of those migrant workers reported that they are now under lockdown orders.

1:35.2

Whereas before the recent outbreak in Taiwan, that percentage had been only 30%.

1:40.7

Well, only sounds a bit ironic because even 30% is of course far too much.

1:46.4

Wow, yeah, 30% even before the lockdown. That really speaks to the mistreatment of migrant workers

1:52.2

that was happening even before the COVID outbreak. Have you talked to any of these workers yourself,

1:58.3

Katherine? Yes, I have. Most of these workers are very anxious not to be quoted as all even anonymously

...

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