Elon Musk’s Twitter followers say sell
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 9 November 2021
⏱️ 11 minutes
🧾️ Download transcript
Summary
Read a transcript of this episode on FT.com
https://www.ft.com/content/64380f52-df32-4ad7-b2b6-fec42ee95ce1
Federal Reserve governor Randal Quarles’ decision to leave the US central bank next month creates yet another opening for the Biden administration to fill amid uncertainty about the institution’s leadership, Tesla shares fell nearly 5 per cent on Monday after millions of Twitter users polled by chief executive Elon Musk concluded that he should sell 10 per cent of his stake in the electric carmaker. Plus, SoftBank founder Masayoshi Son has promised an $8.8bn share buyback programme over the next 12 months.
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http://www.ft.com/cop26podcast
Tesla shares slide after Musk’s Twitter poll backs stake sale - with Richard Waters
https://www.ft.com/content/2ac226d6-0eba-4f97-91c1-fb70076c20b0
Fed governor Randal Quarles to leave post next month - with James Politi
https://www.ft.com/content/6e312624-0399-4d76-85e9-80e61f1f8c91
SoftBank unveils $8.8bn share buyback following investor pressure - with Kana Inagaki
https://www.ft.com/content/ca7df7d4-7e7e-43b2-85d6-36432d0d9d66
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann and Michael Bruning. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:01.6 | Today is Tuesday, November 9th. |
| 0:03.5 | And this is your FT News Briefing. |
| 0:08.6 | The Federal Reserve has a new high-level job opening. |
| 0:11.6 | SoftBanks CEO says he'll buy back stock. |
| 0:15.1 | And Elon Musk asked Twitter if he should sell, |
| 0:17.9 | 10% of his Tesla shares, a majority said, yes, sell them, |
| 0:21.9 | and pay taxes on the gains. |
| 0:24.0 | I think this is a classic case of Musk deciding the term to the conversation. |
| 0:29.0 | The FT's Richard Waters will unpack what's really behind Musk's latest publicity stunt. |
| 0:34.7 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:40.6 | The Federal Reserve is losing another top official. |
| 0:43.6 | Yesterday, Fed Governor Randall Quarrel said he's stepping down next month. |
| 0:47.7 | This comes after a trading scandal that led to the resignation of two regional Fed presidents, |
| 0:52.5 | and it comes amid calls for Fed Chair Jay Powell to leave at the end of his term. |
| 0:57.0 | Our Washington Bureau Chief James Politi said Quarrels was already on the fence about leaving. |
| 1:02.0 | So Quarrels wore multiple hats at the Fed. |
| 1:05.1 | And his time as Vice Chair for Supervision, |
| 1:08.2 | so in charge of banking regulation, had already expired in October, |
| 1:12.7 | and that term had already ended. |
| 1:15.3 | So he wasn't doing that anymore. |
| 1:17.8 | And his time as Chair of the Financial Stability Board, |
... |
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