Elon Musk goes to Washington
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 12 November 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
Calendar year inflows in to exchange traded funds surpassed their previous full-year record at the end of October, and we look at how Donald Trump’s win ushers in a new era for Elon Musk. Plus, rival groups of bondholders are vying to extend loans to the troubled UK utility Thames Water.
Mentioned in this podcast:
Elon Musk’s gamble on Donald Trump pays off
How Thames Water became a battleground for hedge funds
ETF flows smash full year record
The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Mischa Frankl-Duval, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. 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 FT News Briefing is supported by Equinoor, the UK's energy partner. |
| 0:06.5 | Learn more at equinore.com.uk. |
| 0:12.3 | Good morning from the Financial Times. |
| 0:15.1 | Today is Tuesday, November 12th, and this is your FT News briefing. |
| 0:19.9 | Now would be a good time to start paying attention to ETFs. |
| 0:25.0 | And it looks like Elon Musk will have a big role in the new Trump administration. |
| 0:30.5 | Plus, a fight is brewing over which hedge funds will lend to London's most important water utility. |
| 0:40.2 | I'm Sonia Hudson, and here's the news you need to start your day. Exchange traded funds are having a blockbuster year. |
| 0:56.5 | Cash flows into ETFs hit $1.4 trillion by the end of October. |
| 1:02.1 | They've already surpassed 2021's full year record. |
| 1:06.3 | And you can expect that number to climb even higher. |
| 1:09.5 | There's been a buying spree since Donald Trump won the U.S. presidential election last week. |
| 1:15.4 | A lot of the inflows this year have gone towards equity ETFs. |
| 1:19.4 | Most of that came from the U.S. |
| 1:21.3 | But there was a big jump in emerging market equities after China passed its massive stimulus bill in September. |
| 1:35.1 | Oh, let me tell you, we have a new star. A star is born, Elon. |
| 1:42.0 | When Donald Trump declared victory in the presidential race, one of the first people he publicly thanked was Elon. When Donald Trump declared victory in the presidential race, one of the first people he publicly |
| 1:47.2 | thanked was Elon Musk. |
| 1:49.5 | Now he's an amazing guy. |
| 1:51.0 | We were sitting together tonight. |
| 1:52.6 | You know, he spent two weeks in Philadelphia and different parts of Pennsylvania, campaigning. |
| 1:59.4 | And not only that, Musk also poured millions of dollars into |
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