FT News Briefing Modi tries to deepen US tech ties
Jun 22, 2023
India's Prime Minister Narendra Modi is on a mission to strengthen tech and defense ties with the U.S., signaling a pivotal shift in global partnerships. Meanwhile, Amazon faces scrutiny from regulators for allegedly misleading customers regarding its Prime service. Italy takes a stand against Chinese influence in Pirelli, highlighting concerns over data security and strategic tech sovereignty. The tensions between Italy and China reflect the broader complexities of international business in today's rapidly changing landscape.
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Modi's US Visit and its Geopolitical Implications
- India's Prime Minister Modi's US visit aims to strengthen tech and defense ties.
- This visit signals a potential shift in global dynamics, with India and the US partnering as democratic counterweights to China.
FTC Lawsuit Against Amazon
- The FTC is suing Amazon, alleging deceptive Prime subscription practices.
- Amazon faces potential penalties and injunctions if the FTC's claims of manipulative tactics are proven.
Italy Restricts Sinochem's Influence in Pirelli
- Italy is limiting Sinochem's influence over Pirelli due to concerns about data and strategic technology.
- While Sinochem remains a shareholder, they cannot appoint Pirelli's CEO, impacting Sino-Italian relations.