FT News Briefing Oracle considers TikTok, Putin and Belarus, and the rise of “blank-cheque companies”
Aug 19, 2020
Oracle is making headlines as it races to acquire TikTok’s U.S. operations amidst a backdrop of geopolitical tension in Belarus, where EU leaders seek Putin's intervention. Meanwhile, a shift in the U.S. Postal Service's cost-cutting plans raises concerns about postal voting integrity. The conversation also dives into the surge of Special Purpose Acquisition Companies (SPACs), exploring their mixed reputation and potential for revival in the tech investment landscape, highlighted by both success stories and notable failures.
AI Snips
Chapters
Transcript
Episode notes
Oracle Enters TikTok Bidding War
- Oracle joined the race to buy TikTok's operations in the US, Canada, Australia, and New Zealand.
- This gives ByteDance, TikTok's owner, leverage against Microsoft's offer.
Russia's Interest in Belarus
- Belarus is politically crucial for Russia as a buffer state against the EU and NATO.
- Russia's aim is to keep Belarus as a dependable ally, regardless of who leads it.
Postmaster General Reverses Course
- The U.S. Postmaster General, Louis DeJoy, reversed planned cost-cutting measures after Democrats raised concerns about postal voting.
- DeJoy, a Republican donor, will testify before Congress regarding these changes.