FT News Briefing Can Target get its ‘swagger’ back?
71 snips
Aug 21, 2025 Tensions rise as Chinese regulators push back against US AI chips, impacting major companies like Nvidia. Meanwhile, Target's stock takes a hit following the appointment of an insider as CEO, sparking discussions on revitalizing the brand's appeal. Inflation in the UK unexpectedly accelerates, driven by rising costs in various sectors. Innovative battery swapping technology in China is gaining traction, promising quicker transitions for EV drivers and expanding access for underserved communities.
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China Pushes Back On US AI Chip Moves
- China is responding to US moves on AI chips by imposing its own curbs after offensive comments by Howard Lutnick.
- The shift reverses a brief opening that only covered older NVIDIA H20 processors and raises trade friction risks.
Target Picks An Insider To Lead Turnaround
- Michael Fidelke is a 20-year Target veteran who has served as CFO and COO and has been named CEO to lead a turnaround.
- On an analyst call he said he wants to rebuild Target's merchandising, stores, and technology and even used the word "swagger."
Multiple Forces Behind Target's Decline
- Target's sales boom during the pandemic has since faded while competitors have continued to grow market share.
- Cultural controversies and higher import costs from tariffs compounded the slowdown and made recovery harder.
