FT News Briefing Thursday, January 30
Jan 30, 2020
Facebook faces a stock plunge as growth hits a decade low amid new privacy regulations. Scientists are racing against time to develop a vaccine for the coronavirus, navigating hurdles in clinical trials. Meanwhile, the Federal Reserve maintains interest rates, and Tesla and Microsoft exceed revenue expectations. Finally, Boeing reports its first annual loss in over 20 years, shedding light on the ongoing challenges posed by the 737 MAX crisis.
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Facebook's Slowest Growth
- Facebook's slowest sales growth since 2012 was caused by new privacy regulations and Apple's stricter rules.
- These regulations give users more control over their data, impacting Facebook's revenue.
Coronavirus Vaccine Development
- Scientists are working on a vaccine for the coronavirus, but development takes time.
- A usable vaccine may be available in three to eight months if the outbreak reaches pandemic levels.
Boeing's Financial Troubles
- Boeing's 2019 annual loss, its first since 1997, is largely due to the 737 MAX crisis.
- The crisis costs include compensation to airlines, reduced profitability, and abnormal production costs like idle workers.