Ford loses its grip on the wheel
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 29 August 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
Nvidia’s record-breaking earnings still somehow disappointed investors, China’s use of the renminbi in cross-border trading is at a record high, and Berkshire Hathaway becomes the first publicly traded US company outside of tech to be valued at $1tn. Plus, Ford’s big plans to boost profits continue to fall short.
Mentioned in this podcast:
Nvidia revenue more than doubles as demand for AI chips remains strong
China’s international use of renminbi surges to record highs
Warren Buffett’s Berkshire Hathaway surges past $1tn market value
Ford shares have stalled: can CEO Jim Farley steer out of its rut?
The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, 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
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | Good morning from the Financial Times. Today is Thursday, August 29th. |
| 0:17.0 | This is your FT news briefing. |
| 0:19.0 | InVidia's record-breaking earnings still somehow disappointed investors, and China's currency |
| 0:26.2 | is elbowing its way onto the global stage. |
| 0:29.6 | Plus Ford is having trouble hitting the gas on its profits. |
| 0:34.0 | I'm Mark Filipino and here's the news you need to start your day. All eyes were on NVIDIA yesterday when it reported earnings for the second quarter. |
| 0:58.4 | Revenue rose to $30 billion more than double compared to the same time last year. Still shares |
| 1:05.1 | fell immediately after the release because while the report set another |
| 1:09.3 | record for NVIDIA it was about half the rate of growth reported in the prior quarter. Fun fact, Deutsche Bank says |
| 1:16.1 | that NVIDIA's earnings now rival jobs reports or inflation data when it comes to the impact |
| 1:21.4 | on U.S. markets markets so when NVIDIA stock drops everyone is going to feel it. |
| 1:27.0 | New data shows that China is starting to trade a lot more in its own currency. |
| 1:40.0 | The country's use of the Redman B has reached record highs this year, thanks in part to Russia. |
| 1:46.0 | Presidents Vladimir Putin and Chijin-Ping have gotten pretty buddy buddy, ever since Russia launched its full-scale invasion of Ukraine, and they're trading in Renminby now, rather than in US |
| 1:55.8 | dollars. |
| 1:56.8 | To better understand the extent of the trend and just what it means for the dollar's |
| 2:00.9 | dominance, I'm turning to my colleague William Sandland. |
| 2:03.2 | Hey William. Thank you for having me. It's great to be on the show. Well thanks for joining us. |
| 2:08.3 | So just do me a favor walk me through some of the details when it comes to China's use of |
| 2:12.3 | the Redmond B in global transactions this year. |
... |
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 2026.