The Amazon wage effect
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 28 June 2021
⏱️ 9 minutes
🧾️ Download transcript
Summary
The UK’s financial watchdog has ordered crypto exchange Binance to stop all regulated activities in Britain, and Denmark’s media industry is pioneering a new bargaining tactic to try and make Google and Facebook pay for news. Plus, the FT’s Andrew Edgecliffe-Johnson reports that some US companies blame Amazon’s aggressive hiring practices for the current labor shortage.
Financial watchdog bans crypto exchange Binance from UK
https://www.ft.com/content/8bc0e5e0-2705-496d-a265-acccaffaee87
Danish media club together to make US tech giants pay for news
https://www.ft.com/content/c83d6b7f-ed19-4a90-a719-3bf4aedccdff?
Amazon effect’ sets the tone for US workers’ remuneration
https://www.ft.com/content/9e8b9727-7955-44c4-955a-73375a7a20ef
UBS to let most staff mix working from home and office permanently
https://www.ft.com/content/1601e314-6d6d-4014-94df-f2858ee64e8e?
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Monday, June 28th. This is your FT News Briefing. |
| 0:08.5 | The UK's financial watchdog is cracking down on one of the world's biggest crypto currency |
| 0:13.7 | exchanges, and Danish media groups are banding together to try and force big tech companies to pay |
| 0:19.2 | for news. Plus, US companies are struggling to hire enough workers as they try to reopen. |
| 0:24.8 | Another headache? Amazon? Paying $15 to $20 an hour for warehouse workers. |
| 0:30.2 | And it's forced other employers who have their own warehouses or stores or anything else |
| 0:34.9 | to nearby to try and, if not match, Amazon will at least get closer than they were. |
| 0:40.2 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:48.4 | Regulators around the world have been cracking down on the cryptocurrency industry, |
| 0:53.1 | and the latest move came over the weekend from the UK's financial conduct authority. |
| 0:57.6 | It ordered the cryptocurrency exchange Binance to stop all regulated activities in Britain. |
| 1:03.3 | The FT's Adam Samson says this is a big development. |
| 1:07.3 | Binance is one of the biggest players globally in crypto trading. You can trade things like |
| 1:12.8 | Bitcoin on it, you can do more convoluted stuff too, things like futures, options, borrowing, |
| 1:18.6 | savings accounts, all those kind of things. So the FCA basically coming out and saying you |
| 1:25.7 | can't do many operations here in this country is a fairly significant crackdown on a large operator. |
| 1:32.4 | And I should mention that Japan put out a warning last week on Binance and other countries |
| 1:37.7 | have as well in recent months. For instance, Germany put out a warning in April about stock tokens |
| 1:43.9 | which trade on the Binance exchange. So Adam, what does it mean for people who trade |
| 1:48.2 | in cryptocurrency? You know Binance customers? |
| 1:51.6 | I think it's probably too early to say exactly what it means for Binance customers. |
| 1:57.3 | One thing that's definitely for sure is Binance has been told effectively, it can no longer |
... |
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