CCTV Transcripts

CCTV Script 21/05/21

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— This is the script of CNBC's news report for China's CCTV on May 21, 2021, Friday.

The cryptocurrency market plummeted and lost about $1 trillion this week. Elon Musk was under attack because his bitcoin comments were seen as a major trigger of the sell-off. Musk posted a message on social media that he would not sell his bitcoin holdings, but investors who suffered huge losses during the turmoil didn't buy his words.

Shares of Tesla, a major holder of bitcoins, were hit hard by the collapse of cryptocurrency. Recent regulatory files revealed that Michael Burry is aggressively betting against Tesla, adding pressure to the electronic vehicle maker. Michael Burry, the prototype of the movie "The Big Short", rose to fame as one of the earliest investors who predicted the subprime mortgage crisis and profited from it. Tesla's stock price has dropped 16.85% year to date, and Musk's personal net worth shrank by approximately $12.3 billion, the biggest decline on Bloomberg Billionaires Index. He slid one spot from the second richest man on Bloomberg Billionaires Index.

Since the divorce announcement, several reports emerged about the improper relationship between Bill Gates and female employees at Microsoft. Wall Street Journal reported that Microsoft made a decision in 2020 that it wasn't appropriate for Bill Gates to continue sitting on its board as they investigated his prior romantic relationship with a female Microsoft employee. This report says that a Gates spokesperson admitted that Bill Gates had an affair 20 years ago, but she denied that Gates' departure from the board was directly linked to the investigation. In March last year, Gates announced that he would leave the Microsoft board of directors and no longer hold any official position in Microsoft. Gates' departure was regarded as the biggest change in the board of directors of large technology companies since Steve Jobs' death. It was seen as the end of an era.

In the United States, romantic relationships between executives and their supervisees are not allowed by many large companies. This issue has become even more sensitive after the outbreak of the MeToo movement. In 2019, the board of McDonald fired the former CEO of the company due to an inappropriate relationship between him and a female McDonald employee. Recent media reports may not only damage Gates' personal reputation, but also put him at a disadvantageous position in his divorce when dividing the fortune of the Gates'. It's reported that Bill Gates has transferred at least $3 billion to Melinda since their divorce announcement.

India set a record high for daily coronavirus deaths this week, and the passing of an India-Australian businessman caught media attention. The 47-year-old Govind Kant became the second Australian citizen to die in India during the travel ban issued by the Australian government. Govind Kant, a prominent figure in the Australian solar industry, went to India in April for family reasons. As the numbers in India surge, Australia announced a travel ban in April, preventing Australians in India from returning home. Govind was infected with COVID during the period and was trapped there ever since.

Australia's travel ban took effect on April 28th and was hugely controversial. The ban ended on May 15. It is believed that more than 9,000 Australians are still stranded in India. Australian authorities argue that the introduction of this travel ban was on the basis of protecting Australia, but critics accused it of being racism and an abandonment of its own citizens.