STORY: Elon Musk may have a new target. The billionaire leading Donald Trump’s cost-cutting efforts says it’s time to sell off Amtrak and the U.S. Postal Service. Speaking Wednesday at a conference run by Morgan Stanley, he said the government should privatize everything that can be privatized. Musk said he thought such moves would need…
The Trump administration said on Wednesday that it would overhaul a $42 billion federal grant program aimed at expanding high-speed internet to the nation, including easing some rules that could benefit Elon Musk’s satellite internet service, Starlink. The program will be revamped to “take a tech-neutral approach” in its distribution of funds to states, Commerce…
President Trump made one of the biggest gambles of his presidency Tuesday by initiating sweeping tariffs with no clear rationale on imports from Canada, Mexico and China, triggering a trade war that risks undermining the United States economy. His actions have upended diplomatic relations with America’s largest trading partners, sent markets tumbling, and provoked retaliation…
Sweeping tariffs imposed by President Trump threatened economic upheaval for consumers and businesses in the United States on Tuesday as the country’s biggest trading partners struck back on Tuesday, raising fears of a burgeoning trade war. Canada and China swiftly condemned the U.S. tariffs and announced retaliatory tariffs against American exports. President Claudia Sheinbaum of…
When President Trump threatened tariffs on Canada, Mexico and China in January, saying those countries needed to do more to stop the flow of drugs and migrants into the United States, Canadian and Mexican officials raced to Washington, bearing charts and videos detailing their efforts to toughen their borders. Canada created a “fentanyl czar” and…
Nvidia (NVDA, Financial) shares dropped about 3% Thursday morning after posting fourth-quarter results that failed to sustain the recent artificial intelligence-driven upswing. The chipmaker, widely seen as a bellwether for AI-related momentum, reported earnings that met forecasts but did not surpass them enough to energize the broader tech sector. Meanwhile, U.S. economic data provided mixed…
The Trump administration told Mexican officials that they should put their own duties on Chinese imports as part of their efforts to avoid tariffs threatened by President Donald Trump, according to people familiar with the matter. Commerce Secretary Howard Lutnick was among US officials who conveyed that message at a meeting Thursday in Washington with…
Elon Musk’s growing power in government appears to be making some of his businesses more of a magnet for investors. Case in point: Banks have managed to sell off most of the $12.5 billion worth of debt owed by X, his social network, to eager buyers. Investors are essentially betting that the company’s future is…
DeepSeek Impact? Billionaire David Tepper Bets Big on China, Increases Stakes in Alibaba, JD.com, And PDD U.S.-listed Chinese stocks Alibaba Group Holding (NASDAQ:BABA), Baidu, Inc (NASDAQ:BIDU), JD.com, Inc (NASDAQ: JD), PDD Holdings Inc (NASDAQ: PDD), NIO Inc (NYSE: NIO), Li Auto Inc (NASDAQ:LI), and XPeng Inc (NYSE: XPEV) gave up their gains Tuesday after the Trump administration decided to delay the suspension of duty-free entry for packages valued under $800. The…
WASHINGTON (Reuters) -The Biden administration added more than a dozen Chinese entities to its restricted trade list on Wednesday, including a company whose TSMC-made chip was illegally incorporated into a Huawei artificial intelligence processor. Sophgo and other entities linked to it were among 14 China-based companies and two Singapore-based companies added to the U.S. Commerce…