FT News Briefing Johnson says prepare for no-deal Brexit, Airbnb IPO, EU’s threat to Big Tech
Dec 11, 2020
Boris Johnson is urging the UK to brace for a no-deal Brexit, stirring up economic anxieties. In a surprising move, Airbnb's stock price skyrocketed on its trading debut, raising eyebrows about the current investment climate. Meanwhile, the EU is tightening the reins on Big Tech, threatening substantial fines if companies fail to self-regulate. This regulatory shift echoes past efforts to rein in tech giants, highlighting a growing concern over their market dominance.
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Prepare for No-Deal Brexit
- Boris Johnson advises Britain to prepare for a no-deal Brexit.
- Negotiations are stalled on fishing rights and fair competition.
Airbnb IPO Soars
- Airbnb's shares more than doubled on their first day of trading, exceeding expectations.
- CEO Brian Chesky expressed surprise at the share price surge.
Market Froth
- Airbnb's IPO success, similar to DoorDash, reflects excess cash in the market.
- Richard Waters suggests this may indicate a larger trend.