Wall Street isn’t buying Trump’s deportation threats or Elon Musk’s spending cut claims
CNN
President-elect Donald Trump has promised to expel millions of undocumented people as part of the biggest deportation program in American history. But Wall Street doesn’t believe the looming immigration crackdown will live up to Trump’s campaign trail hype.
President-elect Donald Trump has promised to expel millions of undocumented people as part of the biggest deportation program in American history. But Wall Street doesn’t believe the looming immigration crackdown will live up to Trump’s campaign trail hype. Although investors expect immigration will slow significantly during Trump’s second administration, just 6% of investors expect net immigration (the difference between the number of people entering and those leaving a region) will turn negative under Trump, according to a Goldman Sachs survey released Sunday. In other words, Wall Street is betting that, even with Trump’s promised crackdown, more people will enter the United States than are deported from it. That would come as a relief to the business owners who warn that wide-scale deportations of millions of people, as Trump has repeatedly promised to enact, will starve them of workers and lift prices on consumers. The findings underscore the reality that deportations will likely be slowed by legal obstacles and logistical constraints, not to mention the economic risk of causing worker shortages at farms, construction sites and elsewhere. Nearly half of the investors anticipate annual immigration will average between 500,000 and 1 million under Trump, according to Goldman Sachs. That would be down from the recent annualized rate of about 1.75 million and the peak of 3 million last year. The Wall Street bank found that more than 20% of investors expect immigration under Trump will be above the pre-pandemic pace of 1 million per year.
President-elect Donald Trump has repeatedly said he intends to block a Japanese firm’s $15 billion takeover bid of US Steel upon taking office, saying the former American giant can eventually stand on its own.
Cargill, the megasized Minnesota-based food production giant, is laying off about 5% of its global workforce as food commodity prices drop.
The Chinese government has slammed America’s introduction of a slew of export controls on US-made semiconductors that Washington fears Beijing could use to make the next generation of weapons and artificial intelligence (AI) systems.
Elon Musk’s record-breaking pay package for serving as Tesla’s CEO was rejected on Monday by a Delaware court, despite being approved by Tesla shareholders at a June meeting.
It’s the comeback story no one asked for — the resurrection of a brand so toxic it remains synonymous with corporate fraud more than two decades after it collapsed in bankruptcy. That’s right, folks: Enron is back. But only kind of.
President-elect Donald Trump’s vowing to protect American-made cars through steep tariffs on imports. The problem is, there is no such thing as an all-American car.
Sex workers in Belgium are now entitled to formal employment contracts, which include sick pay and maternity leave, under a landmark law that went into effect Sunday.
Intel Monday announced CEO Pat Gelsinger has resigned after a difficult three-year stint at the company. The once-dominant chipmaker’s stock cratered as it missed the AI boom and was surpassed by most of its rivals.
Stoli Group USA, the owner of the namesake vodka, has filed for bankruptcy as it struggled to contend with slowing demand for spirits slows, a major cyberattack that has snarled its operations and several years of fighting Russia in court.
During his second term, President-elect Donald Trump may try to fulfill the longstanding Republican goal of privatizing Fannie Mae and Freddie Mac, the mortgage giants at the center of buying a home in America.
While there’s a lot we don’t know about President-elect Donald Trump’s tariff plans, at least one thing is pretty certain: Tariffs will go up. If history is any indication, that means price increases will likely follow.