Facebook's fall hits markets
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 4 February 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
Wall Street stocks slumped on Thursday after disappointing earnings reports in the technology sector from Facebook parent Meta, Turkey and Ukraine signed a deal to deepen defence co-operation in defiance of warnings from Moscow, and Olympics sponsors are accused of ignoring the plight of China’s Uyghur Muslims. The FT’s Andrew Edgecliffe-Johnson talks about the pressure on companies and how they are responding.
Mentioned in this podcast:
Amazon shares surge on Prime price rise and boost from cloud division
Beijing Olympics: the new front line in the US-China cold war
Erdogan visit to Ukraine tests complex ties with Putin
US stocks dragged lower by downbeat tech earnings
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 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 |
| 0:09.9 | Good morning from the Financial Times. |
| 0:11.5 | Today is Friday, February 4th, and this is your FT News Briefing. |
| 0:18.7 | Amazon raised the price of a prime subscription. |
| 0:21.5 | Customers might be annoyed, but investors are thrilled. |
| 0:24.9 | The Beijing Olympics kick off today, and so does the pressure on corporate sponsors, |
| 0:29.0 | and Russia warned them not to, but the leaders of Ukraine and Turkey |
| 0:32.8 | just signed some new defense deals. |
| 0:34.8 | Plus, as always, we'll wrap up the weekend markets with Katie Martin. |
| 0:38.6 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:50.5 | Amazon's share price skyrocketed more than 17.5% yesterday and after hours trading. |
| 0:56.6 | This happened while the company was reporting quarterly earnings and announced |
| 1:00.0 | that it will jack up the price of its prime membership by 20 bucks to $139. |
| 1:06.0 | Amazon said this was in response to and part higher wages and transportation costs. |
| 1:11.5 | It also forecast lower than expected sales for this quarter that wouldn't be Wall Street's expectations. |
| 1:18.2 | Amazon's earnings and shares pop after trading ended on Thursday, |
| 1:28.8 | and after a bloodbath in US stocks during the regular trading session. |
| 1:33.3 | Big indices had their worst day in nearly a year, and one reason for that was because |
| 1:38.5 | Facebook's parent company Meta reported disappointing earnings, and the plunge in its share price |
| 1:44.1 | reverberated throughout the rest of the market. |
| 1:46.7 | Here's the FT's markets editor Katie Martin. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.