Big tech continues to rock
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 2 February 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
Meta will reward shareholders with its first-ever dividend and an additional $50bn in share buybacks, US President Joe Biden has approved financial sanctions on Israelis in the West Bank, and Tesla chief executive Elon Musk is hitting back after a Delaware court struck down his $56bn pay package. Plus, the EU has agreed a deal on a €50bn financial support package for Ukraine.
Mentioned in this podcast:
EU agrees €50bn support package for Ukraine
US to put sanctions on Israeli settlers responsible for West Bank violence
Tesla shareholders will vote on moving incorporation to Texas, says Elon Musk
What the $56bn Tesla pay deal setback means for Elon Musk and his empire
Formula One’s Lewis Hamilton to join Ferrari from Mercedes
Meta dividend signals 'coming of age' for Mark Zuckerbergs company
CREDIT: Formula 1
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 | The UK's energy partner. The UK. Good morning from the Financial Times. Today is Friday, February 2nd, and this is your |
| 0:17.5 | FT news briefing. Big tech companies continue to dazzle investors and there's more tension building between the |
| 0:26.0 | US and Israel. Plus, Elon Musk is pulling an unusual move after a court struck down his generous pay package. I'm Mark |
| 0:34.8 | Filipino and here's the news you need to start your day. Is there anything that can slow down big tech? |
| 0:43.0 | American companies like Microsoft? Is there anything that can slow down big tech? |
| 0:53.2 | American companies like Microsoft and Alphabet reported strong quarterly earnings this week. |
| 0:58.8 | Yesterday, Meta, Amazon, and Apple had their turn and they didn't disappoint either. |
| 1:04.0 | One highlight was Meta's stock. |
| 1:06.3 | It jumped more than 15% after the Bell when they announced its first ever dividend |
| 1:10.9 | and 50 billion dollars in share buybacks. |
| 1:15.0 | Richard Waters is our tech writer at large and he's here to talk about why Silicon Valley |
| 1:18.9 | is still going strong. |
| 1:20.3 | Hey Richard. |
| 1:21.3 | Hey Mark, good to talk to you again. |
| 1:23.0 | Good to have you back. |
| 1:24.0 | So there were just a slew of tech earnings this week. |
| 1:28.8 | What stuck out to you as the central theme? |
| 1:31.8 | Well, you know, we've all been transfixed by the amazing run in the stock prices of a handful of big tech companies. |
| 1:39.0 | And so I think the biggest takeaway from this week is that the business momentum behind some of these companies is still tremendously strong and I think supports a lot of that run-up in prices that we've seen. |
| 1:52.0 | Revenue growth across the board is stronger than people |
... |
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