Beijing bets on manufacturing
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 22 April 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
Tesla shareholders are bracing for the carmaker’s worst earnings performance in seven years, oil markets have remained steady as Middle East tensions rise, and China’s first-quarter GDP shows the effects of President Xi Jinping’s bet on manufacturing.
Mentioned in this podcast:
Tesla shareholders braced for worst results in 7 years
Why oil prices remain steady even as Middle East tensions escalate
Covid vaccine makers to clash in London over mRNA patent dispute
China warns west of ‘survival of the fittest’ as manufacturing boosts economy
Parisians struggle to cash in on Olympic Games rentals
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | At Aquinore. UK. Good morning from the Financial Times. Today is Monday, April 22nd, and this is your |
| 0:18.2 | FT News briefing. Tesla shareholders are bracing for a painful earnings report. |
| 0:25.0 | Oil markets seem to have brushed off the escalation in the Middle East, |
| 0:29.0 | and China is revving up manufacturing, |
| 0:32.0 | which means more exports. |
| 0:34.8 | It just seems inevitable that this year is going to be a big year for trade tensions. |
| 0:39.6 | I'm Jess Smith, and here's the news you need to start your day. Tesla's first quarter earnings are out tomorrow and they could be the worst in seven years. |
| 1:04.0 | Elon Musk's pioneering electric car company faces slowing demand and a brutal price war. |
| 1:10.0 | Shareholders also want to know about a plan to move company headquarters from Delaware to Texas |
| 1:15.6 | and they want clarity on whether Tesla's executives are steering the company towards |
| 1:20.7 | being a large-scale manufacturer or a smaller provider of autonomous technology. |
| 1:27.0 | Oil prices have been surprisingly stable even after Iran attacked Israel with a barrage of |
| 1:37.8 | drones and missiles and Israel struck back. |
| 1:40.9 | The F.T. Miles McCormick says investors were ready for the attacks and had priced them in. |
| 1:46.2 | He joins me now to talk more about what's going on in oil markets. |
| 1:49.2 | Hi Miles. |
| 1:50.2 | Hey, how's it going? |
| 1:51.9 | It's going well. |
| 1:53.0 | Miles, can you tell us a bit more about what's been keeping oil markets from panicking? |
| 1:57.0 | Yeah, so to some extent, investors saw this coming as of a few weeks ago when Israel struck Iran's consulate in Damascus |
... |
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