FT News Briefing Will Russia lead on an alternative to the dollar?
Oct 25, 2024
Charles Clover, the FT's foreign affairs correspondent, discusses Russia's ambitious yet underwhelming proposal for a dollar alternative, as BRICS leaders remain skeptical. John Foley, a writer for the FT's Lex column, dives into the brewing conflict in the WordPress community surrounding open-source contributions, shedding light on the potential shake-up in tech business practices. Together, they explore the shifting dynamics of global finance and the future of technology in an increasingly complex landscape.
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Tesla's Stock Surge
- Tesla's shares surged 22% after exceeding profit estimates.
- Elon Musk's prediction of a potential 30% sales increase next year further fueled investor excitement.
Russia's Dollar Alternative Fails to Excite
- Russia's proposal for a dollar alternative at the BRICS summit faced lukewarm reception.
- Concerns over US sanctions and a preference for Chinese leadership in financial architecture were key factors.
Open Source Dispute
- A dispute between WordPress and WP Engine highlights potential issues in open-source business models.
- Changing rules around free software can disrupt businesses built on it, impacting innovation.