FT News Briefing Thursday, April 25
Apr 25, 2019
Tesla's shocking $702 million net loss sparks discussions about its financial future. Facebook prepares for a historic $3 billion FTC fine, raising questions about accountability in tech. Amazon faces growth struggles as it looks beyond domestic markets. Meanwhile, European banks, including Deutsche Bank and Barclays, brace for tougher days ahead amid dismal forecasts. A surprise success from Credit Suisse sheds light on the current banking landscape, highlighting the power dynamics between American and European financial institutions.
AI Snips
Chapters
Transcript
Episode notes
Tesla's Financial Woes
- Tesla's Q1 2019 net loss was $702 million, exceeding Wall Street expectations.
- The company's cash reserves fell to their lowest in three years, prompting CEO Elon Musk to reconsider raising capital.
Facebook's FTC Fine
- Facebook set aside $3 billion for a potential FTC fine, which could reach $5 billion.
- The fine relates to the Cambridge Analytica scandal and significantly impacted Facebook's Q1 earnings.
Amazon's Growth and Spending
- Amazon faces questions about slowing revenue growth and increased infrastructure spending.
- The company's profitability has increased due to cloud computing and advertising, but future growth requires investment.