The Tesla-financial complex
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 6 December 2021
⏱️ 10 minutes
🧾️ Download transcript
Summary
Read a transcript of this episode on FT.com
https://www.ft.com/content/6842cbfd-af06-459d-80cb-e62f68db910c
Several of Toshiba’s biggest shareholders accuse the conglomerate of failing to fully pursue talks with private equity buyers and plan to vote against a company proposal to split into three separate businesses, European auto suppliers say half a million jobs would be at risk under EU plans to effectively ban combustion-engine cars by 2035, and Tesla’s outsized influence in financial markets may not be due to its market capitalization but what FT global finance correspondent Robin Wigglesworth calls the “Tesla-financial complex.”
Toshiba shareholders accuse conglomerate of overlooking privatisation bids
https://www.ft.com/content/f284fdaf-a900-4af4-920c-5c42091b19db
European auto suppliers warn shift to electric would put 500,000 jobs at risk - with Joe Miller
https://www.ft.com/content/1e0040c9-aab2-4881-828b-e992f23a9f3e
The ‘Tesla-financial complex’: how carmaker gained influence over the markets - with Robin Wigglesworth
https://www.ft.com/content/17f0cd1f-e751-4ddb-b13c-ea4e685b55c0
Singapore suspends crypto exchange over spat with K-pop group BTS
https://www.ft.com/content/eea3a969-0dbd-4894-a049-1f566ef1660e
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. |
| 0:03.8 | Today is Monday, December 6th, and this is your FT News Briefing. |
| 0:09.6 | The corporate drama Atoshiba has a new development. |
| 0:13.2 | In European auto suppliers, Warren will take a huge hit from a rapid transition to electric |
| 0:18.0 | vehicles. |
| 0:20.0 | And our global finance correspondent, Robin Wigglesworth, will tell us about the Tesla |
| 0:23.6 | Financial Complex and what it means for the market. |
| 0:26.7 | Tesla can go up 20-30% in the month, which is just unprecedented for a company of that |
| 0:32.5 | size. |
| 0:33.5 | I'm Joanna Gao, in from Mark Filipino, and here's the news you need to start your day. |
| 0:43.1 | Atoshiba, if you recall, came out with a proposal last month to split itself into three separate |
| 0:48.6 | companies. |
| 0:49.6 | It was the latest effort by the industrial giant to rebuild its market value and to address |
| 0:54.8 | pressure from activist investors. |
| 0:57.8 | Now a group of shareholders has told the FT that it will vote against that proposal. |
| 1:03.7 | This group together holds more than 30% of Toshiba stock, and it accuses the company of failing |
| 1:09.4 | to fully pursue talks with private equity buyers. |
| 1:13.5 | It also says it'll ratchet up pressure on the board to revive discussions of a full |
| 1:18.0 | buyout of the company. |
| 1:20.1 | Some shareholders are even considering more immediate tactics, including an emergency vote |
| 1:24.6 | to purge the board. |
| 1:30.4 | The European Union plans to ban combustion engine cars by 2035. |
... |
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