FT News Briefing Boris Johnson’s bruising no-confidence vote
Jun 7, 2022
Boris Johnson narrowly avoided defeat in a no-confidence vote, revealing deep divisions in his party. Meanwhile, Elon Musk threatens to walk away from his $44 billion Twitter deal amid legal complexities. The conversation dives into Big Tech’s fierce lobbying against self-preferencing regulations and highlights the ongoing tension between accountability and corporate interests. Additionally, it touches on bipartisan efforts to regulate tech giants and a significant African acquisition aimed at improving digital payment accessibility.
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Johnson's Weakened Position
- Boris Johnson's no-confidence vote win is a pyrrhic victory, severely damaging his authority.
- Over 40% of his own party deeming him unfit to lead weakens his public standing.
Musk's Twitter Gambit
- Elon Musk's maneuvering around the Twitter deal may be a negotiation tactic to lower the price or an attempt to back out entirely.
- He cites lack of bot information, but the real reason may be the declining tech market and Tesla's falling share price.
Big Tech's Self-Preferencing Fight
- Big tech companies like Google, Amazon, Apple, and Meta are lobbying intensely against a bill that would ban self-preferencing.
- They argue that consumers benefit, but their aggressive lobbying suggests they profit significantly from this practice.