Tesla sees a bumpy road ahead
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 26 January 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
Tesla reported record revenues last quarter, the Bank of Canada signalled it would pause interest rate rises, and trillions of dollars each day are gushing into a US Federal Reserve facility designed to mop up excess cash in the financial system.
Mentioned in this podcast:
Tesla aims to build 1.8mn cars this year but warns of challenges
US economic growth set to have slowed in fourth quarter of 2022
Investors pump trillions of dollars a day into ultra-safe Fed facility
Bank of Canada signals likely pause in tightening after latest interest rate rise
Central banks should sacrifice ambitions of a perfect economic landing
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 |
| 0:09.9 | Good morning from the Financial Times. Today is Thursday, January 26th, |
| 0:13.9 | and this is your FT News Briefing. |
| 0:18.5 | Tesla posted record revenues but says the road ahead isn't so clear. |
| 0:23.6 | Canada looks like it could become the first major economy to pause interest rate increases, |
| 0:28.3 | and we'll get the latest reading on the U.S. economy. |
| 0:31.2 | Plus the FT's key do-good looked into why money keeps gushing into a super short term |
| 0:37.0 | that'll reserve program. |
| 0:38.7 | Investors are nervous to put money to work that maybe locked up for even like a week. |
| 0:43.8 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:47.1 | Tesla reported record revenues of about $24 billion for the quarter ending in December. |
| 0:58.7 | That beat expectations by a hair, but Elon Musk's electric car company warned of a quote, |
| 1:04.0 | uncertain macroeconomic environment this year. |
| 1:06.8 | It cited rising interest rates as a particular challenge. |
| 1:10.1 | Analysts have been concerned about Tesla's sales. |
| 1:12.6 | The company slashed prices earlier this year, and yesterday said it expects to deliver nearly |
| 1:17.5 | two million cars this year. That's up from last year, but it's still way off Tesla's long-term goal. |
| 1:29.3 | Canada's central bank raised interest rates yesterday for the eighth consecutive time. |
| 1:33.9 | Bank of Canada Governor, Tiff McLean, also made this more notable announcement. |
| 1:39.4 | We expect to pause rate hikes while we assess the impacts of the substantial monetary policy |
| 1:45.1 | tightening already undertaken. That pause would make Canada's central bank the first of the major |
... |
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