FT News Briefing Ford loses its grip on the wheel
6 snips
Aug 29, 2024 Nvidia's fireworks included record earnings, but investors weren't impressed. Meanwhile, China's renminbi is gaining traction in global trade, marking a big shift against the dollar. Berkshire Hathaway has crossed the $1 trillion market cap threshold, breaking the tech monopolies. On the other hand, Ford is hitting bumps on its road to profitability, struggling with electric vehicle strategies and warranty issues. Can CEO Jim Farley steer the company back on course amidst all these challenges?
AI Snips
Chapters
Transcript
Episode notes
NVIDIA's Growth
- NVIDIA's Q2 revenue doubled, exceeding $30 billion.
- However, its stock fell due to slower growth compared to the previous quarter.
Renminbi's Rise
- China's renminbi usage in cross-border trade and investments is at a record high.
- Russia's shift from the dollar to the renminbi, due to sanctions, is a contributing factor.
Berkshire's Trillion
- Berkshire Hathaway reached a $1 trillion valuation, the first non-tech U.S. company to do so.
- Warren Buffett's stock sales, including $1 billion in Bank of America, contributed.