FT News Briefing The Tesla-financial complex
Dec 6, 2021
Toshiba faces backlash from major shareholders over its plan to break into three companies, sparking a heated debate. Meanwhile, European auto suppliers warn that an EU ban on combustion engines could threaten 500,000 jobs. Delving into Tesla's influence, the discussion highlights how its market power may stem from a complex web of financial relationships rather than just its stock value. Additionally, the podcast examines challenges in Singapore's cryptocurrency landscape, including regulatory struggles following the suspension of a troubled exchange.
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Tesla's Financial Complex
- Tesla's market cap exceeds $1 trillion, but its influence is more significant.
- This influence stems from its vast investment network and massive derivatives market, termed the "Tesla financial complex".
Toshiba Shareholder Revolt
- Toshiba shareholders, holding over 30% of the stock, plan to vote against the company's three-way split proposal.
- They accuse Toshiba of neglecting talks with private equity buyers and seek to revive full buyout discussions.
EU Auto Supplier Warning
- EU auto suppliers warn that the 2035 combustion engine ban could cost 500,000 jobs.
- While some suppliers will adapt, those heavily reliant on combustion engine parts face significant challenges due to the rapid transition.