FT News Briefing The Magic Kingdom goes to war
Apr 27, 2023
Walt Disney is taking legal action against Florida's governor, sparking debates over free speech and political retaliation. The case shines a light on the evolving relationship between corporations and government. Meanwhile, UK regulators have blocked Microsoft's major acquisition, prompting criticism that the UK is becoming 'closed for business.' The podcast also reveals how conservative pension funds in the UK are limiting capital access for startups, causing them to seek investment opportunities abroad.
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Disney vs. DeSantis
- Disney is suing Florida Governor Ron DeSantis for alleged retaliation.
- DeSantis targeted Disney's tax privileges after they opposed the "Don't Say Gay" law.
Microsoft's Blocked Acquisition
- UK regulators blocked Microsoft's $75 billion acquisition of Activision Blizzard.
- This decision raises concerns about the UK's openness to large tech deals.
Immunocore's Funding Journey
- Immunocore, a UK biotech company, struggled to raise capital domestically.
- It eventually went public on NASDAQ due to more receptive US investors.