FT News Briefing Thursday, January 23
Jan 23, 2020
Chinese authorities are taking drastic measures to contain a deadly virus outbreak, shutting down transport in Wuhan. Meanwhile, Tesla's stock has soared past $100 billion, positioning it as a leading car manufacturer. Boeing's new CEO remains optimistic about the 737 MAX's future. The food delivery app market is heating up, with big players like Deliveroo facing regulatory scrutiny and evolving competition from rivals. The dynamic environment showcases challenges and opportunities for companies vying for customers' orders.
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Wuhan Quarantine
- Wuhan's transport networks have been shut down to contain a SARS-like virus.
- This comes ahead of Lunar New Year, when over 100 million Chinese citizens are expected to travel.
Tesla's Valuation
- Tesla's market value exceeded $100 billion, surpassing Volkswagen's.
- This follows a year of workforce cuts, missed targets, and fundraising.
Tesla's Turnaround
- Tesla's stock surge reflects renewed confidence in its manufacturing and financial stability.
- Previous concerns about the company's ability to scale production and maintain financial stability have eased.