Author: Daniel snow
Tesla’s stock is driven by sentiment, which has soured greatly. Plus, Musk has now alienated Republicans and Democrats alike. Source link
Shares of Rocket Lab and Intuitive Machines are getting a lift Friday as the outlook for Elon Musk’s SpaceX comes into question. Source link
A Ford mustang is seen at a used car dealership in Montebello, California on May 5, 2025. Frederic J. Brown | AFP | Getty ImagesDETROIT — Used vehicle prices last month eased from their recent high in April as consumers who may have needed a vehicle but feared price hikes due to tariffs flocked to purchase a car or truck, according to a closely watched barometer of pre-owned prices.Cox Automotive’s Manheim Used Vehicle Value Index — which tracks prices of used vehicles sold at its U.S. wholesale auctions — decreased 1.5% from April to May, but remained 4% higher than…
US President Donald Trump during a meeting with Chancellor of Germany Friedrich Merz in the Oval Office of the White House on Thursday June 5, 2025. Demetrius Freeman | The Washington Post | Getty ImagesPresident Donald Trump on Friday urged Federal Reserve Chairman Jerome Powell to slash interest rates by a full percentage point, despite a better-than-expected result from the Labor Department’s latest jobs report.Trump, who has regularly badgered Powell to cut rates in order to boost the economy, argued for a full-point cut even as he maintained that the country is “doing great.””Go for a full point, Rocket Fuel!”…
A sign in German that reads “part of the UBS group” in Basel on May 5, 2025.Fabrice Coffrini | AFP | Getty ImagesThe Swiss government on Friday proposed strict new capital rules that would require banking giant UBS to hold an additional $26 billion in core capital, following its 2023 takeover of stricken rival Credit Suisse.The measures would also mean that UBS will need to fully capitalize its foreign units and carry out fewer share buybacks.”The rise in the going-concern requirement needs to be met with up to USD 26 billion of CET1 capital, to allow the AT1 bond holdings…
Russian central bank cuts key interest rate to 20%, first easing since September 2022 Source link
LONDON — The U.K. is set to lift a ban on a key type of crypto debt security in a bid to catch up to the U.S. and other financial hubs as it looks to become a global hub for digital assets.On Friday, the Financial Conduct Authority, the U.K.’s main regulator for financial services, announced a proposal to reverse its ban on offering crypto exchange-traded notes to retail investors.Exchange-traded notes are a type of debt instrument that are linked to one or more specified assets — cryptocurrencies, in this case. In essence, they allow investors to gain exposure to digital…
Bitcoin is here to save your money from inflation and central-bank meddling — if you notice in time. Source link
President Donald Trump gestures toward the press as he greets German Chancellor Friedrich Merz upon arrival at the West Wing of the White House in Washington, DC, on June 5, 2025.Saul Loeb | Afp | Getty ImagesGerman Chancellor Friedrich Merz’s meeting with U.S. President Donald Trump was dramatically overshadowed by the U.S. leader’s spat with Elon Musk. But it was still seen as a win for Merz.”Being sidelined is not necessarily always a bad thing,” Carsten Brzeski, global head of macro at ING, told CNBC on Friday. “In fact, it might have even helped Merz as the Musk distraction was…
The number of new jobs created in May slowed to 139,000, a sign the Trump trade wars are starting to make a dent in a resilient U.S. labor market that’s been a bedrock of the economy. Source link