The UK's energy partner.

Learn more at equinore.

Good morning from the newsroom of the Financial Times.

Today is Thursday, April 25th, and this is your FT news briefing.

Tesla's chief executive Elon Musk is willing to raise more cash in the wake of a nasty net loss. Facebook faces a hefty fine from the Federal Trade Commission

and we take a look at what could be in store for Amazon as it prepares to release its earnings

results today.

Plus the F.T.'s David Crow explains why European banks are bracing for more pain this

earnings season.

I'm Mark Filipino, and here's the news you need to start your day.

Elon Musk has had a change of heart about raising more cash.

Not that there isn't more work to do, but any Tesla today is a far more

efficient the operating organization than it was a year ago that we make dramatic

improvements across the board and so I think does merit to the idea of raising capital at this point.

That was the Tesla chief executive talking to analysts yesterday.

This pivot came after the electric carmaker said it had plunged back into the red in the first quarter of 2019.

It recorded a net loss of $702 million, which was far worse than what Wall Street had been expecting.

Tesla also disclosed that it had burnt through $1.5 billion in that period.

The company struggled with delivering its model 3 to overseas customers,

sales of its older S and X models were also down.

Mr. Musk had long insisted that he didn't need a bigger cash cushion,

but Tesla's cash reserves fell to just under $2.2 billion at the end of March.

...