FT News Briefing Walmart joins Microsoft in TikTok bid, Fed moves on inflation policy, US athletes sit out games
Aug 28, 2020
Walmart is teaming up with Microsoft to make a bold move on TikTok's US operations. Meanwhile, the Federal Reserve is shifting its inflation policy to accommodate temporary rises in prices. Athletes in the US are taking a stand, refusing to participate in games to highlight police brutality and racial injustice. This activism among players is reshaping the discussion around social responsibility in sports and business. The episode dives into the implications of these developments for investors, brands, and the broader culture.
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Walmart's TikTok Bid
- Walmart's bid for TikTok, alongside Microsoft, aims to boost their online presence.
- This move signals Walmart's ambition to compete more directly with Amazon.
Fed's Inflation Policy Shift
- The Federal Reserve's new strategy will tolerate higher inflation to maintain low interest rates.
- This policy shift significantly impacts bondholders, as higher inflation can reduce real returns on government debt.
Athlete Protests
- The Milwaukee Bucks boycotting their NBA playoff game sparked a wave of protests across multiple sports.
- This unprecedented action by athletes amplified the conversation about police brutality and racial injustice.