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FT News Briefing

India’s AI boom

Jun 24, 2024
10:39
Snipd AI
The podcast discusses EU's workaround to support Ukraine, rising European CLO issuance, TikTok advertisers' plans amid US ban threat, and Amazon/Microsoft's AI investments in India.
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Podcast summary created with Snipd AI

Quick takeaways

  • The EU's innovative legal workaround enables support for Ukraine by using profits from Russia's frozen assets, overcoming Hungary's veto.
  • Collateralized Loan Obligations (CLOs) are experiencing a resurgence in Europe due to attractive yields and improved transparency post-2008 crisis.

Deep dives

EU Finds Solution for Ukraine Funding Despite Hungarian Obstruction

The European Union has devised a sophisticated legal loophole to provide monetary support to Ukraine, even in the face of Hungary's opposition. This workaround allows the EU to use profits from Russia's frozen assets to purchase weapons for Ukraine, bypassing Hungary's veto on offering aid. The G7 proposed a $50 billion loan for Kiev, with repayment also planned through these profits. Hungary's pro-Russian stance within the EU complicates matters, but the bloc's foreign ministers are set to discuss this innovation.

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