China crackdown on data; Biden infra plan; Virgin-O2 merger

In today’s episode, we talk about China’s internet watchdog ordering over 105 tech applications to fix their data collection by the end of next week, discuss US President Joe Biden’s massive infrastructure plan as the country continues to recover steadily from the COVID induced economic slowdown, and revisit the Virgin-O2 merger deal.

Today on The Leaders' Brief -
  • China's internet watchdog the Cyberspace Administration of China (CAC), said last week that it had found 105 applications, including ByteDance's Douyin, Microsoft’s Bing and LinkedIn, and Baidu, were engaged in the improper collection and use of data. According to the internet watchdog, the 105 apps had violated Chinese laws by excessively collecting and illegally accessing users' personal information. The announcement comes less than a month after Beijing put in place measures outlining how apps should collect personal information. 

  • White House press secretary Jen Psaki, announced last week that the Democrats have cut down US President Joe Bien’s ambitious $2.25 trillion infrastructure spending plan by over $300 billion. The over $2 domestic trillion infrastructure spending plan proposed by the US President earlier this year had hoped to address several fronts, including competing with Chinese economic activity. On a domestic level, the plan addressed climate change, elder care, and affordable schooling. 

  • The UK’s Competition and Markets Authority (CMA) has approved the $44 Billion merger deal between Virgin Media and Telefonica-owned O2. The deal would create a 50:50 joint venture and would see a total of 46 million video, broadband and mobile subscribers along with $15.5 Billion in revenues. The CMA had launched an inquiry into the deal as it felt the merger had the possibility to threaten competitiveness in the country’s telecom industry.

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