Author: Daniel snow
President Donald Trump on Thursday said that Elon Musk has been criticizing his proposed tax bill because the Tesla CEO is “upset” about the elimination of EV credits in the package, and his pick to run NASA being nixed by the Trump administration.Trump spoke after days of Musk condemning the bill on social media. Musk on Tuesday call the bill a “disgusting abomination.”Musk last week left his temporary government post overseeing DOGE, the Trump administration’s effort to slash federal spending and employee headcounts. Musk also was the biggest financial backer of Trump’s 2024 campaign, spending more than $250 million on…
The 30-year fixed-rate mortgage averaged 6.85% as of June 5, down 4 basis points from a week ago. Source link
Packages of Charmin Ultra Soft bath tissue are stacked at a Costco Wholesale store in San Diego, California, on March 11, 2025.Kevin Carter | Getty ImagesProcter & Gamble will cut 7,000 jobs, or roughly 15% of its non-manufacturing workforce, as part of a two-year restructuring program.The layoffs by the consumer goods giant come as President Donald Trump’s tariffs have led a range of companies to hike prices to offset higher costs. The trade tensions have raised concerns about the broader health of the U.S. economy and job market.P&G CFO Andre Schulten announced the job cuts during a presentation at the…
People around President Trump are acting very strangely. Source link
The Education Department is putting pressure on Columbia’s accreditor, whose seal of approval the school needs to get federal grants and loans. Source link
Alex Karp, CEO of Palantir Technologies, speaks on a panel titled Power, Purpose, and the New American Century at the Hill and Valley Forum at the U.S. Capitol on April 30, 2025 in Washington, DC. Kevin Dietsch | Getty ImagesPalantir CEO Alex Karp said the artificial intelligence arms race between the U.S. and China will culminate in one country coming out on top.”My general bias on AI is it is dangerous,” Karp told CNBC’s “Squawk on the Street” on Thursday. “There are positive and negative consequences, and either we win or China will win.”Karp has been a vocal advocate for…
The social platform alleges that Anthropic used data from Reddit to train its AI. Anthropic denies the claims. Source link
An index close above 5,990 would be a bullish catalyst for a summer stock-market rally. Source link
Bottles of the American whiskey Jack Daniel’s are offered for sale in a liquor store on November 27, 2023 in Chicago, Illinois.Scott Olson | Getty ImagesShares of Jack Daniel’s-maker Brown-Forman plunged more than 18% on Thursday after the company reported quarterly earnings that came in below analyst estimates, weighed down by the impact of tariffs and weak discretionary spending on alcohol.”While our results did not meet our long-term growth aspirations, we made important progress in an exceptionally challenging macroeconomic environment,” CEO Lawson Whiting said in the company’s earnings release.Here’s how the company performed for its fiscal fourth quarter of 2025,…
The U.S. deficit with its global trading partners tumbled by the largest amount on record in April as companies and consumers no longer rushed to get imports ahead of President Donald Trump’s tariffs.Following a record-breaking surge in the trade imbalance, the deficit slid to $61.6 billion, a decrease of $76.7 billion from the prior month and below the Dow Jones consensus forecast for $66.3 billion, according to a Commerce Department report Thursday.The move reverses a massive surge in imports that came ahead of Trump’s April 2 “Liberation Day” announcement.In a move that was even more aggressive than anticipated, Trump slapped…