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Bloomberg Tech

Tesla China Price Cuts and PayPal's Stablecoin

Bloomberg Tech

Bloomberg

Tech News, News, Business News

4.470 Ratings

🗓️ 14 August 2023

⏱️ 45 minutes

🧾️ Download transcript

Summary

Bloomberg's Caroline Hyde and Ed Ludlow break down Tesla's latest price cut in China, sparking worries of another global EV price war. Plus, the significance of PayPal's stablecoin, and Zuckerberg tells speculators it's time to move on from the potential cage fight with Elon Musk. 

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Transcript

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0:00.0

Join global business leaders and investors at the Bloomberg Sustainable Business Summit, returning to Singapore on July 31st.

0:09.0

Take part in solutions driven discussions on how to drive business value and unlock opportunity

0:14.8

while remaining nimble in times of change and greater ESG accountability.

0:19.5

Learn more at Bloomberg Live.com slash sustainablebiz Singapore. That's Bloomberg Live.com slash Sustainable Biz Singapore.

0:24.0

That's Bloomberg Live.com slash sustainable Biz Singapore.

0:28.0

From the heart of where innovation, money and power collide in Silicon Valley and beyond,

0:37.0

this is Bloomberg Technology with Caroline Hyde and Ed Ludlow. at Ludd. Lo. I'm Caroline Hyde at Bloomberg's world headquarters in New York.

0:58.0

And I'm Ed Luddo in San Francisco. We're back Caro.

1:00.0

This iso technology.

1:02.8

And Ed coming up, the Tesla Challenge, look, the company cuts its prices in China again,

1:07.9

sparking worries of another global price war.

1:11.5

Plus, PayPal has a new CEO finally details on the company's new leader

1:16.4

and now he may be able to help a stock that slumped this growth slowed post

1:20.9

pandemic. Oh and Zuckerberg telling speculators

1:23.6

that it's time to move on from the potential cage

1:26.3

fight with Elon Musk.

1:27.7

But will we?

1:28.7

More on that later this hour.

1:30.0

But first, let's check in on these markets.

1:32.1

It's been a while since I've checked in the med and I'm looking at six tenths percent higher on the NASDAQ actually managing to pick ourselves up from some of the concerns we had particularly anxiety around China. That is why I shine a light and what's happening

1:43.2

with the big Chinese names that traded here in the US. They are still under

1:46.0

pressure but as much as they were in earlier days trading. They're off by

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