Elon Musk’s juggling act
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 2 November 2022
⏱️ 9 minutes
🧾️ Download transcript
Summary
The Federal Reserve is set to raise interest rates by 0.75 points for the fourth time in a row, and Pfizer raised its sales forecast for its Covid-19 vaccine by $2bn to $34bn on Tuesday. Plus, FT journalists examine whether Elon Musk will be able to run Twitter effectively in addition to several other companies.
Mentioned in this podcast:
Elon Musk has taken on two seriously difficult problems with Twitter
Twitter Space recording: What can we expect from Twitter under Elon Musk?
Pfizer lifts revenue outlook as Covid jab price rise boosts sales
Fed set to raise rates by 0.75 points for fourth time in a row
Demand for US workers rebounds despite Fed’s efforts to cool economy
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. 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 Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:09.7 | Good morning from the Financial Times. Today is Wednesday, November 2nd. |
| 0:13.3 | This is your FT News Briefing. |
| 0:18.6 | The Federal Reserve is set to raise interest rates again today. |
| 0:22.8 | Meanwhile, Pfizer is figuring out how to keep revenues up as demand for vaccines goes down. |
| 0:29.4 | Plus, Elon Musk now runs four companies, but can he juggle them all? |
| 0:34.7 | I'm Mark Philippineau, and here's the news you need to start your day. |
| 0:44.4 | The Federal Reserve keeps trying to cool inflation. |
| 0:48.1 | The Fed is expected to raise interest rates by 75 basis points for the fourth time in a row today, |
| 0:53.9 | but despite that, the US economy isn't slowing down. |
| 0:58.8 | Last quarter, US gross domestic product increased by more than two and a half percent, |
| 1:03.9 | and demand for US workers rebounded in September. |
| 1:08.1 | That's according to a report the Department of Labor released yesterday. |
| 1:12.0 | We'll see if higher rates have cooled inflation when October's Consumer Price Index report |
| 1:17.0 | comes out next week. |
| 1:24.2 | Demand for Pfizer's COVID-19 vaccines is falling. |
| 1:28.1 | Even so, Pfizer yesterday increased its 2022 sales forecast by $2 billion. |
| 1:34.3 | That's because it has raised the price of its shots. |
| 1:37.6 | The FT's Jamie Smith has more. |
| 1:40.3 | Now, it's rationale for doing that is that obviously it's going to increase its own revenues |
| 1:44.7 | by doing that or compensate for the drop in demand somewhat, but also the US market is moving |
... |
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