FT News Briefing Thursday, October 24
Oct 24, 2019
Tesla's shares jumped 20% after a surprising profit report. Meanwhile, Trump plans to lift Turkey's sanctions ahead of a NATO meeting, while WeWork announces significant job cuts. The UK faces Brexit challenges, with internal party divisions about elections. Plus, Mark Zuckerberg defends the contentious Libra digital currency amid mixed reactions, focusing on helping the unbanked, yet grapples with intense scrutiny and competition from China's digital currency.
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Tesla's Q3 Triumph
- Tesla's Q3 results exceeded expectations, leading to a significant stock surge.
- Positive news included a surprise profit, the Model Y's early launch, and Musk's prediction of its sales dominance.
Ford's Outlook Downgraded
- Ford lowered its profit outlook due to challenges in China and North America.
- This contrasts sharply with Tesla's success, highlighting different trajectories in the auto industry.
Sanctions on Turkey Lifted
- Trump will lift sanctions on Turkey imposed after their military action against Kurdish forces in Syria.
- This decision comes before a NATO meeting focused on the Syrian border crisis.