Walmart joins Microsoft in TikTok bid, Fed moves on inflation policy, US athletes sit out games
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 28 August 2020
⏱️ 9 minutes
🧾️ Download transcript
Summary
Walmart is partnering with Microsoft in its bid for the US operations of TikTok, and the Federal Reserve is adopting a new strategy for monetary policy that will be more tolerant of temporary increases in inflation. Plus, the FT’s Sara Germano explains how walkouts by professional US athletes are influencing the conversation about police brutality and racial injustice.
Walmart enters race for TikTok US with Microsoft partnership
https://www.ft.com/content/70551adb-7a6e-47a1-a6d1-070efaa957fd
Fed to tolerate higher inflation in policy shift
https://www.ft.com/content/e1e59faa-5005-4e1c-9d54-b1a8d4de9586
Black athletes boycott US sports leagues as protests escalate after Blake shooting
https://www.ft.com/content/c7bb647a-e5fb-4644-8446-9afb69a8e363
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:02.0 | Today is Friday, August 28th, |
| 0:04.0 | and this is your FT news briefing. |
| 0:08.0 | A new bidder for Tik-T-T-T-T-T-T-Neas |
| 0:10.0 | raises some eyebrows, and the Federal Reserve is changing its inflation policy. |
| 0:14.8 | What does that mean for bondholders? Plus it's one of the most impactful political |
| 0:19.8 | protests in sports history. We take a closer look at how an NBA strike in |
| 0:24.7 | protest against police brutality is rippling through the industry. I'm Mark |
| 0:29.5 | Filipino and here's the news you need to start your day. |
| 0:33.0 | There's a new twist in the race to sell Tik-Toc to an American company. |
| 0:44.0 | Walmart said yesterday it's throwing its hat into the ring. |
| 0:47.0 | It'll partner with Microsoft on the possible acquisition. |
| 0:50.0 | Oracle has been the other big name bitter up into this point. |
| 0:54.0 | But the clock is ticking. |
| 0:56.0 | The Trump administration says it'll shut down the popular video app unless its U.S. operations are sold to an American company by mid-November. |
| 1:05.0 | The White House has accused the Bight Dance owned a company of threatening US security. |
| 1:10.0 | The app is probably best known for featuring dancing teenagers, so if you're wondering why a big box store is interested in acquiring it, you're not the only one. |
| 1:18.0 | But the move is the sign that the company wants to expand online as it takes on Amazon. |
| 1:24.4 | The Walmart bombshell came just hours after the FT revealed that Tik-T |
| 1:28.0 | talk chief executive Kevin Mayer was quitting. |
| 1:31.0 | Walmart shares jumped as much as 5% yesterday on the announcement. |
| 1:37.0 | It turns out that Central Bankers can make headlines even if they're stuck at home on |
... |
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