FT News Briefing Climate change is coming for your Bordeaux
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Jan 3, 2025 Tesla faces its first decline in annual vehicle deliveries in over a decade, while BYD hits remarkable sales milestones. The podcast dives into the legal troubles of crypto pioneer Do Kwon, who confronts serious charges in the U.S. Amid shifts in global trade routes, shipping companies are opting for smaller vessels. Additionally, climate change is significantly altering Europe’s wine landscape, with traditional regions like Bordeaux struggling and new opportunities arising in northern areas. Adaptation strategies spark lively debates amongst winemakers.
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EV Market Shift
- Tesla's annual sales dropped for the first time since 2011, while Chinese rival BYD reported record sales.
- China's cheaper EV offerings pose a challenge to Tesla and other Western carmakers.
Do Kwon's Arrest
- Do Kwon, co-founder of Terraform Labs, was extradited from Montenegro to the U.S. to face fraud charges.
- Kwon is accused of misleading investors and regulators about the stability of Terra and Luna cryptocurrencies.
Shipping Trends
- Global trade disruptions are causing a shift in shipping preferences.
- Shipowners are opting for smaller, more flexible vessels over large bulk carriers.