FT News Briefing Liechtenstein's zombie-trust apocalypse
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Jul 8, 2025 U.S. tariff deadlines have been extended, shaking international trade. Liechtenstein's trust industry faces a crisis due to American sanctions linked to Russia, creating fears of 'zombie trusts.' Meanwhile, Shein's IPO plans aim to energize its presence in Hong Kong. In the electric vehicle arena, Elon Musk struggles to rescue Tesla amidst political tensions with Trump, causing investor anxiety over future renewable initiatives. Join the conversation as these intertwined issues unfold on the global stage.
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Musk vs Trump Harms Tesla
- Elon Musk's feud with Donald Trump has severely damaged Tesla's stock and outlook.
- The conflict arose from disagreements over U.S. policies that harm Tesla's renewable energy focus.
Tesla's Revenue at Risk
- Tesla earns almost $3 billion from trading regulatory credits for EVs, a revenue now threatened.
- New U.S. legislation removes federal EV tax credits, making EVs more expensive and hurting Tesla.
Investor Worries About Musk's Politics
- Musk's erratic political moves strain investor confidence and the board's patience.
- Tesla's value hinges on optimism about Musk, making leadership changes risky for shareholders.