we start here in the uk, where as you have been hearing the pressure on prime minister liz truss is building after another day of political chaos. the exit of a key cabinet member, home secretary suella braverman, who delivered a blistering attack on her former boss in her resignation letter. then a huge row in the house of commons over a vote on fracking, seen as a test of loyalty to the prime minister. it saw the pound fall sharply on wednesday, wiping out all the gains made this week after liz truss replaced her chancellor and abandoned the tax cutting plans that had rattled the markets. our political editor chris mason was following events. conservative mps are openmouthed in horror at what they are witnessing, government six week old histjunked the majority of its programme and removed a chancellor in a day of complete chaos, at lunchtime a senior adviser to the prime minister suspended over allegations of briefing against conservative mps, after prime minister s questi
expert daniel ives, managing director at wedbush securities. nice to see you again, daniel. your take on tesla? i nice to see you again, daniel. your take on tesla? your take on tesla? i think, overall. your take on tesla? i think, overall, they your take on tesla? i think, overall, they clearly - your take on tesla? i think, overall, they clearly hit - your take on tesla? i think, overall, they clearly hit a i overall, they clearly hit a speed bump this quarter. and they are held to a higher standard and that s something right now think it has a cinderella story. for the first time in 2.5 years musk is navigating some of these challenges. navigating some of these challenges. navigating some of these challenues. , ., , ., ,., challenges. james outlined some ofthe challenges. james outlined some of the challenges, challenges. james outlined some of the challenges, you challenges. james outlined some of the challenges, you have - of the challenges, you have supplied challenges,
future as well. , ., , ., future as well. james mentioned tesla future as well. james mentioned tesia shows future as well. james mentioned tesla shows have future as well. james mentioned tesla shows have taken - future as well. james mentioned tesla shows have taken a - tesla shows have taken a hammering this year, down by half, but that was from a very high base, wasn t it, the shares were the darling of wall street for quite some time. yes, i mean, we re talking about a stock that would really have a four digit percentage of perspective, you have to look at it in context, but it has been a dark year for tesla investors as well as broader tech, but now for musk, just like we saw four years ago and ten years ago, it is the time to be the power and get tesla through the challenges. that is what investors have seen again and again and that s why he has had this success. had this success. 0k, daniel ives, had this success. 0k, daniel ives. thanks had this success. 0k, daniel ives
one, there is inflationary pressure that is driving down profitability, there is also clearly supply chain issues doing the same thing. however, one thing that really caught my eye are the numbers of cars delivered. tesla is making many more cars than it is actually delivering. and that is totally at odds with what elon musk has said this year. he has always said this year. he has always said that demand outstrips supply when it comes to tesla s, that does not seem to be the case. investors have seen that and they have reacted. as the shares have fallen and i believe it is because of that. to put this into some kind of context, tesla has lost about half of its value since january. elon musk has been trying to buy twitter during that period. it was on then it was that it was on again. you have a lot of very frustrated tesla shareholders. and what has happened today, i do think, is going to give them much succour. going to give them much succour going to give them much succour. , ., , .