Stay informed with free updates by signing up for the Big Tech myFT Digest, delivered directly to your inbox. Recent events have marked a turning point in global efforts to regulate the digital economy, including US vs Google antitrust cases, EU rulings against Google and Apple, and the FTC’s investigation into digital price discrimination. The shift towards regulating digital platforms like traditional industries is evident in federal rulings finding Google an illegal monopoly and ongoing investigations into algorithmic price discrimination.
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Why Wolfspeed Plunged Today
Shares of Wolfspeed (NYSE: WOLF), a silicon carbide chip manufacturer, saw a significant drop of 34.4% following the announcement of its plans to file for Chapter 11 bankruptcy to restructure its substantial debt. This decision follows earlier funding challenges due to the government not providing an anticipated CHIPS Act subsidy, though it seems equity holders may still retain some value in the company. Explain It To Me Like I'm 5: Wolfspeed, a company that makes...
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