US threatens Myanmar sanctions, Robinhood raises $2.4bn, Kuaishou’s IPO

FT News Briefing

Forhecz Topher

News, Unknown, News & Politics, Daily News

4.4 • 1.2K Ratings

🗓️ 2 February 2021

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Joe Biden has threatened to impose sanctions on Myanmar after the military seized power in a coup, and Robinhood raises another $2.4bn to shore up finances strained by turbulent trading. Plus, the FT’ Beijing bureau chief, Ryan McMorrow, explains the popularity of TikTok’s big rival in China, Kuaishou, which goes public this week.

US threatens sanctions on Myanmar after military coup

ft.com/content/1934605c-ecf1-4e7b-aac7-45ad8031b879?

Robinhood raises $2.4bn in second cash injection in four days

https://www.ft.com/content/790324e0-8526-4d9e-9717-a4430e1be034

Robinhood’s bid to ‘democratise trading’ checked by Wall Street realties

www.ft.com/content/9e69faf0-09c4-42ca-8c5f-78dc9568c18f

Kuaishou IPO boosts biggest rival to China’s TikTok’s

https://www.ft.com/content/2b7a8bec-7f01-45b8-ac9f-1fe3f1cbd1f4

Wheels Up set to go public via Spac merger

https://www.ft.com/content/ec08b822-e022-41d1-8252-0a04b2772031

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Transcript

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0:00.0	Good morning from the Financial Times.
0:02.0	Today is Tuesday, February 2nd,
0:04.3	and this is your FT news briefing.
0:08.6	The military coup in Myanmar
0:10.2	has gotten Joe Biden's attention and the turbulent trading of so-called meme stocks
0:14.8	forces Robin Hood to raise another 2.4 billion dollars. Part of what's been
0:19.8	really difficult is Robin Hood stands for democratizing access to stocks.
0:25.7	We want to give people the access.
0:27.7	Plus, Tik-Tock's biggest rival is going public this week.
0:31.3	We'll take a look at the app Quix Show and how it's
0:33.8	pivoting its business model. I'm Mark Filipino, here's the news you need to
0:38.2	start your day.
0:40.3	U.S. President Joe Biden is threatening sanctions on Myanmar.
0:46.0	This comes after the country's military staged a coup on Monday and detained democracy leader
0:51.2	Aung San Suu Kyi, as well as other leaders of the country's elected ruling party.
0:56.4	The U.S. has been lifting sanctions over the past several years as Myanmar progressed toward
1:00.6	Democratic rule, but the coup has thrown a wrench into that.
1:04.0	And yesterday the US president said in a statement he might review US sanctions laws and take action. U.S. stocks ended Monday mostly higher, but the focus these days isn't so much on the broader
1:20.5	indices. It's on the individual stocks that amateur traders have been targeting
1:25.0	like GameStop and AMC,
1:27.0	both of which ended Monday sharply lower.
1:30.0	These traders congregate on social media sites like Reddit,
	...

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